Esther Parker
About Esther Parker
Esther Parker is Chief Accounting Officer (CAO) at Standard Motor Products (SMP), appointed in April 2024; she is 49 and holds a BA from the University of Durham and professional credentials as a CPA (US), Chartered Accountant (England & Wales), and CGMA . She previously held controllership leadership roles at PepsiCo (2018–Apr 2024) and General Electric (2011–2018), and began her career at KPMG (UK) before serving as a Senior Manager at PwC in New York . Company performance context: SMP 2024 net sales were $1,463.8M (up $105.6M YoY) and diluted EPS from continuing operations was $2.41 vs $2.85 in 2023, framing incentive plan outcomes tied to financial metrics .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Standard Motor Products (SMP) | Chief Accounting Officer | 2024–present | Leads accounting function; supports disclosure controls, internal control over financial reporting, and accuracy of SEC reporting . |
| PepsiCo, Inc. | Controllership leadership positions | 2018–2024 | Senior controllership roles across global businesses; strengthened compliance and financial controls, large-scale process governance . |
| General Electric Company | Controllership leadership positions | 2011–2018 | Led controllership initiatives; complex multinational controls, reporting process enhancements . |
| PricewaterhouseCoopers LLP (NYC) | Senior Manager | Not disclosed | Audit/assurance leadership; SEC reporting readiness and technical accounting advisory . |
| KPMG (United Kingdom) | Audit/assurance positions | Not disclosed | Early-career training; public company audit, control frameworks . |
External Roles
No public company directorships or external board/committee roles are disclosed for Parker .
Fixed Compensation
Not individually disclosed for Parker (not a named executive officer in the proxy) . Framework highlights for executive officers:
- Base salary levels reviewed annually with market/peer benchmarks and internal equity; NEOs received 3% increases for 2024; no changes in 2025 base salaries were approved .
- Cash compensation includes annual incentives based 70% on company financial metrics and 30% on management-by-objective goals (MBO) .
Performance Compensation
Executive incentive design applicable to officers:
| Metric | Weighting | Target definition | 2024 actual outcome | Payout rate | Vesting |
|---|---|---|---|---|---|
| Adjusted EPS (YoY improvement) | 75% of financial portion | Basic EPS adjusted for significant non-recurring/non-operational items | Achieved above target based on committee determination | 142.4% of target for total financial portion | Annual cash payout; capped at 200% with excess subject to next-year carry and forfeiture risk . |
| Adjusted Free Cash Flow Conversion | 25% of financial portion | Operating cash flow conversion to net income, adjusted for significant non-recurring/non-operational items | Achieved above target based on committee determination | Included within 142.4% above for financial portion | Annual cash payout; same cap/carry mechanics . |
| MBO goals (strategy, operations, sustainability/culture/engagement, future tech readiness) | 30% of total annual incentive | Committee-assessed execution vs approved objectives | Achieved near target | 98.6% of target | Annual cash payout . |
| Performance Shares (2024 grant cohort) | n/a | 3-year average ROIC (67%) + 3-year average Organic Sales Growth (33%) | Earned 0–200% vs target based on 2024–2026 performance | Determined at end of period | 3-year performance period; forfeitable if employment ends before vesting . |
| Restricted Stock (standard) | n/a | Dollar-value based grant converted by 20-day VWAP | n/a | n/a | 3-year cliff; post-vest mandatory 2-year hold for executives (except long-term retention awards) . |
| Restricted Stock (long-term retention) | n/a | Dollar-value based grant converted by 20-day VWAP | n/a | n/a | Vests at age 60 (25%), 63 (25%), 65 (balance); grants over age 65 vest in 1 year . |
Note: Individual grant values/outcomes for Parker are not disclosed .
Equity Ownership & Alignment
| Policy/Item | Term | Applies to Parker? |
|---|---|---|
| Stock Ownership Guidelines | Other executive officers must hold company stock equal to 30% of base salary; 2-year post-vest holding requirement on vested RS/performance shares (not applied to long-term retention awards) | Yes, as CAO falls under “other executive officers” category . |
| Hedging/Pledging | Explicit prohibition on hedging (derivatives/collars/swaps/forwards) and pledging of company stock for all directors/employees/officers | Yes (alignment-friendly; reduces forced selling risk from collateral calls) . |
| Clawback | Recovery of incentive-based compensation for current/former executive officers upon an accounting restatement due to material noncompliance, covering the preceding 3 fiscal years | Yes (mitigates windfalls and aligns pay with accurate reporting) . |
| Equity Plan Governance | No dividends/dividend equivalents on unvested awards; no repricing/buyouts of options/SARs without shareholder approval; minimum 1-year vesting with limited exceptions | Yes (reduces pay-risk inflation and promotes retention) . |
Beneficial ownership (shares owned, vested/unvested, options, pledging) is not individually disclosed for Parker in the proxy’s ownership table; she is not listed among directors or NEOs .
Employment Terms
| Term | Details | Specific to Parker |
|---|---|---|
| Severance agreement | Only COO (James Burke) has a severance/change-in-control agreement; other executive officers, including CAO, do not have individual severance agreements disclosed | None disclosed for Parker . |
| Change-of-control treatment | Under the Omnibus Plan: absent a replacement award or if stock ceases NYSE trading, options/SARs become exercisable; time-based awards vest in full; performance awards vest at “target” (or previously earned level); replacement awards must preserve value/terms and provide accelerated vesting on termination without cause within 2 years post-CoC | Plan terms apply to eligible award holders, including executive officers . |
| Non-compete/non-solicit/garden leave | Not disclosed | Not disclosed . |
| Deferred compensation/SERP | Executives may elect deferrals; SMP makes discretionary contributions; executive SERP and ESOP participation noted in program descriptions | Available at the program level; individual CAO amounts not disclosed . |
Governance, Peer Benchmarking, and Say-on-Pay
- Compensation peer groups used to benchmark executive pay were updated in Dec 2024 (e.g., Dorman Products, Gentherm, CTS, Cooper-Standard, Modine; expanded to include Astec, Atmus, Barnes, Fox Factory, Helios, VSE, etc. for 2025) .
- Say-on-pay approval: 99% of votes cast in 2024 (for 2023 compensation) .
2025 Annual Meeting results:
| Item | For | Against | Abstain | Broker non-votes |
|---|---|---|---|---|
| Say-on-Pay (NEO compensation) | 17,188,309 | 753,821 | 39,479 | 2,868,503 |
| 2025 Omnibus Incentive Plan | 17,143,242 | 824,174 | 14,193 | 2,868,503 |
Investment Implications
- Alignment: Strong alignment mechanisms apply to Parker as an executive—mandatory post-vesting holding, prohibition on hedging/pledging, and clawback provisions reduce short-termism and misreporting incentives, while stock ownership guidelines require a meaningful ownership stake (30% of base salary) .
- Retention risk: SMP uses multi-year cliff vesting and age-based long-term retention awards for certain executives; while Parker-specific awards are not disclosed, the plan structure supports retention and may reduce voluntary turnover among senior finance leadership .
- Pay-for-performance levers: Annual incentive outcomes were driven by Adjusted EPS and Free Cash Flow Conversion (financial) and MBO execution (strategy/operations/sustainability/tech); 2024 payouts indicate above-target financial results and near-target MBO performance, consistent with a balanced, risk-capped design .
- Change-of-control economics: Plan-level acceleration (time-based vesting and performance shares at target) and replacement award protections provide certainty of value realization but are standard; absence of a personal severance agreement for Parker limits cash CoC exposure (shareholder-friendly) .
- Monitoring: Individual Form 4 activity and current holdings for Parker are not presented in the proxy; monitor insider filings for selling pressure, Rule 10b5-1 plans, and any pledge/hedge disclosures (prohibited by policy) .