John Swann - Segment President, Detection & Measurement | SPX Technologies (SPXC) Executive Profile & Compensation

About John Swann

John W. Swann, III is Segment President, Detection & Measurement (D&M) at SPX Technologies. He joined SPX in 2004, became a corporate officer in 2015, and assumed leadership of D&M in late 2022; prior roles include President of Heating and Location & Inspection, Radiodetection, Weil-McLain and Marley Engineered Products, Hydraulic Technologies, VP of New Venture Development, and Director of Business Development . He is 54, holds a B.A. from Miami University and an MBA from Kennesaw State, and previously worked at PwC and Andersen Consulting . Company performance tied to Swann’s tenure includes 2024 revenue growth of 13.9%, operating income growth of 38.9%, and one-year TSR of 44% (top quartile), while the PSU program pays at 0–200% based on relative TSR versus peers with target at the 55th percentile .

Past Roles

Organization	Role	Years	Strategic Impact
SPX Technologies	Segment President, Detection & Measurement	Late 2022–present	Leads 4 platforms; D&M revenue nearly $620M last year, ~3x since spin; medium-term margin target 22–24% .
SPX Technologies	President, Heating and Location & Inspection	2018–2022	Grew platforms through organic investments and M&A .
SPX Technologies	President, Radiodetection	2015–2018	Maintained global leadership in utility locators and robotic wastewater cameras .
SPX Technologies	President, Weil‑McLain & Marley Engineered Products	2013–2015	Drove HVAC heating portfolio performance and brand leadership .
SPX Technologies	President, Hydraulic Technologies	2011–2013	Led industrial tools business during strategic portfolio evolution .
SPX Technologies	VP, New Venture Development	2010–2011	Advanced corporate growth initiatives via M&A and business development .
SPX Technologies	Director, Business Development	2004–2010	Executed M&A transactions and integration across SPX platforms .

External Roles

Organization	Role	Years	Strategic Impact
PricewaterhouseCoopers (PwC)	Advisory/Consulting roles	Not disclosed	Strategy/M&A experience foundational to SPX growth execution .
Andersen Consulting	Advisory/Consulting roles	Not disclosed	Operations and strategy exposure supporting later platform leadership .

Fixed Compensation

Metric	2023	2024
Annual Base Salary ($)	$576,800	$605,640 (5.0% raise effective 3/25/2024)
Target Bonus (% of Base)	70%	70%
Actual Bonus Paid ($)	$654,071	$657,127
Bonus Payout vs Target	Not disclosed	155.0% overall (75% segment at 146.2%; 25% corporate at 181.3%)

Performance Compensation

Annual Incentive Plan – 2024 Corporate Metrics (for corporate-weighted component)

Metric (Weight)	Threshold ($mm)	Target ($mm)	Maximum ($mm)	Actual ($mm)	Payout %
Adjusted EBITDA (50%)	$340.0	$359.0	$385.0	$403.9	200.0%
Adjusted Free Cash Flow (25%)	$309.0	$335.0	$369.0	$392.0	200.0%
Adjusted Revenue (25%)	$1,829.0	$1,892.0	$1,987.0	$1,916.1	125.3%
Corporate Composite	—	—	—	—	181.3%

Segment component for Swann: 75% weighting; segment performance achievement 146.2%; overall payout 155.0% (blended segment/corporate) .

PSU Design (2024 grants; three-year r-TSR vs peer indices)

Element	Design
Peer set	Aggregated S&P 600 Small Cap & S&P 400 Mid Cap Capital Goods indices (103 companies at grant)
Payout curve	50% at 30th percentile; 100% at 55th; 200% at 85th; linear interpolation; cap at target if SPX TSR is negative
Weight in LTI mix	50% of target LTI
Performance period	3 years (e.g., 2024–2026 for 2/28/2024 grants)

2024 LTI Grants – Swann

Award Type	Units	Vesting / Terms	Grant Date / Price	Grant-Date Fair Value ($)
Options	4,215	33 1/3% annually over 3 years; 10-year term	2/28/2024; $116.40 exercise	$214,291
RSUs	1,841	33 1/3% annually over 3 years (2/28/2025, 2/28/2026, 2/28/2027)	2/28/2024	$214,292
PSUs (target)	3,683	3-year r-TSR; 0–200% payout; cap at target if TSR negative	2/28/2024	$585,266

Realized 2024 Equity Events – Liquidity Signals

Event	Quantity	Value Realized ($)
Options exercised	25,917 shares	$2,149,966
Stock awards vested	11,586 shares	$1,292,673

Equity Ownership & Alignment

Beneficial Ownership (as of 3/17/2025)

Holder	Beneficial Shares	Options/RSUs vesting within 60 days	401(k) Shares Included	% of Class
John W. Swann, III	105,499	32,664	4,192	<1.0%

Stock ownership guidelines for executive officers: 3x annual salary; all named executive officers were in compliance as of 3/17/2025 .
Hedging and pledging prohibited for directors and executive officers (alignment positive; pledging red flag mitigated) .

Outstanding Equity Awards (12/31/2024 snapshot)

RSUs and PSUs (unvested/unearned):

Grant	RSUs Unvested (#)	PSUs Unearned (#)	Notes
3/01/2022	1,137	10,232 (assumes 150% performance)	RSUs vest 33 1/3% annually; PSUs 3-year r-TSR .
3/01/2023	1,720	7,740 (assumes 150%)	RSUs vest 33 1/3% annually; PSUs 3-year r-TSR .
2/28/2024	1,841	7,366 (assumes 200%)	RSUs vest 33 1/3% annually; PSUs 3-year r-TSR .

Stock Options (exercisable tranches shown):

Grant Date	Exercisable (#)	Exercise Price ($)	Expiration
2/20/2020	10,552	50.09	2/20/2030
3/01/2021	8,101	58.34	3/01/2031
3/01/2022	5,760	48.97	3/01/2032
3/01/2023	1,982	71.93	3/01/2033

Employment Terms

Change-in-control: double trigger; accelerated vesting of all unvested PSUs (at target), RSUs, and options upon qualifying termination following a change-in-control .
Clawbacks: Dodd-Frank compliant policy (mandatory recovery for restatements; three-year lookback) plus pre-existing misconduct-based clawback; equity awards subject to recovery policy .

Potential Payments (as of 12/31/2024; stock at $145.52)

Scenario	Salary Multiple	Bonus Multiple	Accelerated Equity ($)	Other Comp ($)	Total ($)
Involuntary without cause / Good reason	1x base ($605,640)	1x bonus (greater of prior-year actual or current target; plus delta to actual for year) ($780,395 shown as achieved)	$409,258	$154,705	$1,949,998
Termination following change-in-control	2x base ($1,211,280)	2x bonus ($1,560,789)	$3,655,837	$203,413	$6,631,319
Disability / Death pre-retirement	—	$654,071	$3,655,837	$70,996	$4,380,904

Compensation Program Context

Mix: Options (25%), PSUs (50% r-TSR), RSUs (25%); CEO >80% and other NEOs >65% pay at risk; no hedging/pledging; no tax gross-ups on CIC payments; double-trigger CIC only .
Peer group used for benchmarking includes Barnes, Chart, Crane, Curtiss‑Wright, Enpro, ESAB, Federal Signal, Franklin Electric, Graco, IDEX, JBT, Nordson, TriMas, Watts Water, Zurn Elkay .
Say‑on‑Pay: 97% approval at 2024 meeting; >93% average since 2016 .

Investment Implications

Pay-for-performance alignment: Swann’s annual incentive is majority segment-weighted (75%), with 2024 segment achievement at 146.2% and corporate overlay at 181.3% (overall 155.0%); LTI is predominantly performance-based via r‑TSR PSUs with capped payouts if TSR is negative, mitigating windfall risk .
Retention and CIC economics: Double-trigger CIC with 2x salary and 2x bonus plus target-level acceleration supports retention while limiting single-trigger windfalls; hedging/pledging prohibitions and stock ownership guidelines (3x salary) strengthen alignment .
Vesting cadence and potential selling pressure: 2024 saw option exercises (25,917 shares; $2.15M value realized) and RSU/PSU vesting (~11.6K shares; $1.29M), signaling periodic liquidity events as annual tranches vest through 2027; monitor Form 4s around vest dates .
Execution track record: Under SPX’s framework, 2024 delivered 13.9% revenue growth, 38.9% operating income growth, and 44% one-year TSR (top quartile), while D&M scaled to ~$620M revenue and targets 22–24% margins—supporting the PSU r‑TSR construct and segment growth under Swann .