Robert Kiszka
About Robert Kiszka
Executive Vice President of Operations at Smart Sand, Inc. since May 2014; previously Vice President of Operations from September 2011 to May 2014. Age 57 as of April 14, 2025. Education: attended Pedagogical University in Krakow, Poland and Rutgers University. Background spans 25+ years in construction, real estate, renewable energy, and mining; owns BAMK Associates, LLC holding SND shares. Company performance context: revenues rose to $311.4M in FY2024 (from $255.7M FY2022), EBITDA improved to $33.0M*, and TSR for a $100 investment (Jan 1, 2022 start) reached $126 by 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Smart Sand, Inc. | Executive Vice President of Operations | 2014–present | Leads operations for industrial sand; senior operating executive |
| Smart Sand, Inc. | Vice President of Operations | 2011–2014 | Built operations capability; transitioned to EVP role |
| Premier Building Systems LLC | Member | 2010–2011 | Experience in construction/renewables operations |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| A-1 Bracket Group Inc. | Owner | Since 2005 | External operating/ownership experience |
Fixed Compensation
- Not disclosed for Kiszka; proxy NEO disclosure covers CEO, CFO, COO only for 2022–2024 .
Performance Compensation
Company long-term incentive structure (applies to executives under the 2016 Omnibus Incentive Plan; NEO examples shown, Kiszka-specific grant detail not disclosed):
| Grant Year | Award Type | Metric | Weighting | Target Definition | Vesting |
|---|---|---|---|---|---|
| 2024 | Restricted stock (service-based + performance-based) | Return on average invested capital (annual), Net free cash flow (annual) | 50% service / 50% performance | Performance shares pay 0%–150% vs three-year goals | Service: equal annual over 4 years; Performance: vests Jan 1, 2027 |
| 2023 | Restricted stock (service-based + performance-based) | Return on average invested capital (multi-year), Cumulative free cash flow | 50% service / 50% performance | 0%–150% vs three-year goals | Service: equal annual over 4 years; Performance: vests Jan 1, 2026 |
| 2022 | Restricted stock (service-based + performance-based) | TSR percentile vs peer group, ROIC, Cumulative free cash flow | 50% service / 50% performance | 0%–150% vs three-year goals | Performance vests Jan 1, 2025; service equal annual over 4 years |
- Actual/payout outcomes for Kiszka are not disclosed. Change-in-control treatment under RS agreements: performance targets deemed achieved at target at closing; service-based vesting accelerates only on termination without Cause or for Good Reason within 18 months (double-trigger) .
Equity Ownership & Alignment
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Total beneficial ownership (shares) | 948,558 | 1,083,323 | 1,213,424 |
| Ownership (% of outstanding) | 2.3% | 2.6% | 2.8% |
| Indirect ownership via BAMK Associates, LLC | 448,738 | 448,738 | 448,738 |
| Unvested shares (total) | 288,964 | 368,794 | 444,723 |
| Unvested performance-based component | 143,392 | 175,820 | 226,414 |
- Hedging and pledging are prohibited for employees, officers, and directors, reducing alignment risk from collateralized positions .
- Registration rights: BAMK Associates, LLC is a holder under the registration rights agreement (demand and piggy-back rights), facilitating liquidity for large blocks, subject to underwriter limits and company conditions .
Employment Terms
- Role tenure: EVP Operations since May 2014; previously VP Operations (Sep 2011–May 2014) .
- Change-of-control economics for restricted stock under company plan: performance RS treated at target; service RS double-trigger acceleration on qualifying termination within 18 months post-transaction .
- Insider trading policy and code of conduct apply; hedging/pledging prohibited .
- Individual employment agreement, severance multiples, non-compete/non-solicit terms for Kiszka are not disclosed in proxy filings.
Insider Transactions and Vesting Pressure
| Date | Shares | Price | Code | Reason | Post-transaction direct + indirect holding |
|---|---|---|---|---|---|
| 2025-07-30 | 5,034 | $2.08 | F | Company share withholding for taxes on RS vesting | 530,648 direct + 448,738 indirect = 979,386 |
| 2024-06-07 | 2,590 | $2.08 | F | Tax withholding on RS vesting | 456,168 (Benzinga aggregator) |
| 2024-03-17 | 3,070 | $1.90 | F | Tax withholding on RS vesting | 458,758 (Benzinga aggregator) |
| 2024-Index | — | — | — | EDGAR index for 2024 Form 4 filings (details within) | — |
- Observed insider activity for Kiszka is routine tax withholding (Code F), not open-market selling, indicating minimal incremental selling pressure associated with vesting events .
Company Performance Context (for pay-for-performance alignment)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues (USD) | $255,740,000 * | $295,973,000 * | $311,372,000 * |
| EBITDA (USD) | $23,066,000* | $27,770,000* | $33,002,000* |
| Net Income (USD) | $(703,000) | $4,649,000 | $2,992,000 |
| Cash from Operations (USD) | $5,420,000 * | $30,991,000 * | $17,864,000 * |
| Levered Free Cash Flow (USD) | $2,974,125* | $8,450,750* | $10,831,500* |
| TSR – Value of $100 initial investment (Jan 1, 2022 basis) | $101 (2022) | $108 (2023) | $126 (2024) |
*Values retrieved from S&P Global.
Investment Implications
- Alignment: Kiszka’s sizable beneficial ownership (1.21M shares; 2.8% of outstanding in 2025) including 444,723 unvested shares with 226,414 performance-based ties him to company performance and retention .
- Liquidity dynamics: Registration rights via BAMK Associates enable potential secondary offerings or piggy-backs, which could increase float liquidity during sell decisions (subject to underwriter limits) .
- Selling pressure risk: Recent insider filings indicate tax-related share withholding (Code F) rather than discretionary selling, suggesting limited incremental selling pressure around vesting dates .
- Incentive design: Company LTI emphasizes ROIC and free cash flow (and TSR in prior cycles), consistent with investor-preferred value creation metrics; double-trigger vesting reduces windfalls in change-of-control scenarios .
- Governance risk mitigants: Prohibitions on hedging/pledging reduce misalignment and collateral risks; however, lack of disclosed personal severance terms or non-compete specifics for Kiszka limits precision in retention risk modeling .