Jennifer Lutz
Executive Vice President, Human Resources at SSD
Executive
About Jennifer Lutz
Jennifer Lutz is Executive Vice President, Human Resources (EVP HR) at Simpson Strong‑Tie (a subsidiary of SSD), serving in the role since January 2023; age 59 with 2 years as an executive officer and 12 years at the company. She joined Simpson Strong‑Tie in April 2013 as Director, HR, was promoted to Vice President, HR in December 2015, and oversees compensation, benefits, employee relations, HR systems, recruitment, learning, organizational development and talent strategy; she holds a BA in Psychology from Emory University . Company performance during her tenure shows strong 2023 qualified operating income finishing 122.26% of target, then below‑target 2024 qualified operating income finishing 86.41% of target . Through nine months ended Sept 30, 2025, net income rose to $288.9M and Adjusted EBITDA to $437.2M (from $266.8M and $419.3M in 2024), indicating YoY EBITDA growth during 2025 YTD .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Simpson Strong‑Tie Company, Inc. | Director, Human Resources | Apr 2013–Dec 2015 | Built HR foundation; supported compensation/benefits and HR systems |
| Simpson Strong‑Tie Company, Inc. | Vice President, Human Resources | Dec 2015–Jan 2023 | Led HR across compensation, benefits, employee relations, recruitment, learning, organizational development |
| Simpson Strong‑Tie Company, Inc. | Executive Vice President, Human Resources | Jan 2023–Present | Oversees enterprise HR strategy including compensation architecture and talent strategy |
External Roles
No external directorships or public company board roles disclosed for Lutz in the latest proxies .
Fixed Compensation
- Base salary, target bonus %, and actual bonus amounts for Lutz are not disclosed in recent proxy tables (she was not among the NEOs in 2023–2024 SCTs) .
- SSD maintains an Executive Officer Cash Profit Sharing (EOCPS) plan for executive officers (similar structure for qualified employees) with quarterly and annual payouts based on qualified operating income and individual MBO goals; payouts occur in five installments and must be paid by March 15 of the following year .
EOCPS Achievements (Company-level context)
| Metric | 2023 Target OI ($000s) | 2023 Actual OI ($000s) | 2023 Actual (% of Target) | 2024 Target OI ($000s) | 2024 Actual OI ($000s) | 2024 Actual (% of Target) |
|---|---|---|---|---|---|---|
| Qualified Operating Income | 438,897 | 536,608 | 122.26% | 548,870 | 474,293 | 86.41% |
EOCPS Design (applies to executive officers)
| Component | Design Detail |
|---|---|
| Weighting | 40% of annual target via quarterly payouts; 60% via annual payout |
| Threshold and Cap | Threshold at 70% of target pays 25% of award; quarterly max at 140% and annual max at 130% of target; overall cap 200% of target |
| MBO Modifier | +/-20% applied to Q4, True-Up, and annual payouts (cannot exceed cap) |
| Payment Timing | Quarterly plus annual “True-Up”; all awards paid by March 15 of the subsequent year |
Performance Compensation
SSD grants PSUs and RSUs under its Amended and Restated 2011 Incentive Plan; current practice is to award PSUs and/or RSUs (no options), with PSUs tied to 3-year performance and RSUs time-based . PSU performance metrics are average annual revenue growth and average ROIC over three years; PSU expense is recognized on a graded basis and RSUs straight-line; PSUs are cliff‑vesting after three years for officers and key employees; time-based RSUs for officers generally vest on a 3‑year graded schedule .
| Incentive Type | Metric | Weighting | Target Setting | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Short-term (EOCPS) | Qualified Operating Income (company) | 40% quarterly / 60% annual | Annual and quarterly OI goals set from budget; threshold 70%, max 130% annual/140% quarterly | 2023 paid above target; 2024 initial payout 65.98% of target with MBO adjustments 0–7.62% on year-end/Q4/True-Up | 5 payouts per year; by Mar 15 next year |
| Short-term (EOCPS) | Individual MBOs | Modifier +/-20% | Pre-established qualitative/quantitative goals (development, strategic sales, operations) | Applied to Q4, True-Up, annual; cannot breach 200% cap | Applied at year-end |
| Long-term (PSUs) | 3-year Avg Annual Revenue Growth & Avg ROIC | Not disclosed | CLDC sets challenging but achievable 3-year goals; ROIC defined using GAAP measures (with DCP adjustment for 2024–2026) | Not disclosed by executive | Cliff vest after 3 years |
| Long-term (RSUs) | Time-based | Not disclosed | Grant-date fair value per ASC 718; awards to officers generally with 3-year graded vest | Not disclosed by executive | 3-year graded vest (officers); 4-year graded for non-officer employees |
Additional context on award sizing/fair value (aggregate, not Lutz-specific):
- In 2025 YTD (nine months ended Sept 30, 2025), SSD granted 118,984 RSUs/PSUs to employees including officers at estimated weighted-average fair value $169.91 per share .
Equity Ownership & Alignment
| Topic | Detail |
|---|---|
| Beneficial Ownership | Lutz is not listed among individuals in the Security Ownership table as of Jan 31, 2024 (table covers directors, NEOs, and those with rights within 60 days) . |
| Hedging/Pledging | Company policy prohibits directors, officers, and employees from hedging or pledging company or subsidiary equity securities; legacy arrangements prior to Oct 19, 2016 may be exempt, violations subject to disciplinary action . |
| Ownership Guidelines | Robust stock ownership guidelines are disclosed for NEOs (CEO 5x salary; CFO 3x; specified EVPs 2x), counting common stock and unvested RSUs but excluding PSUs; each NEO must retain at least 50% of Eligible Shares until compliant. HR EVP guideline is not specifically disclosed . |
| Deferred Compensation Plan (DCP) | Non-qualified DCP allows eligible employees (including executives) to defer compensation and diversify vested shares after six months; Company stock held in DCP tracked similar to treasury stock; obligations measured at fair value of underlying assets . |
Employment Terms
| Provision | Key Terms |
|---|---|
| Change-in-Control (Plan-level) | 2011 Plan provides accelerated vesting of RSUs upon change in control with substantial change in employment terms or involuntary termination; individual grant agreements may modify . |
| Double-trigger Acceleration (NEO grant agreements) | PSU/RSU early vesting requires termination within two years of a “sale event” (broader than change-in-control), either by officer for good reason or by employer without cause; PSU proration based on early vest date vs scheduled vest end; notice/cure periods defined for good reason/cause . |
| Clawback Policy | Company maintains an executive compensation clawback policy (highlighted among key practices) . |
| Profit Sharing Plan | Company contributes 7% of qualifying salaries to profit sharing trust (6-year vesting) plus a quarterly safe harbor 3% contribution; 2024 contribution limit of $34,500 per participant; applies to U.S.-based employees including NEOs (individual contributions shown for NEOs; Lutz-specific amounts not disclosed) . |
Performance & Track Record (Company context during Lutz’s tenure)
| Metric | 2023 | 2024 | 9M 2025 |
|---|---|---|---|
| Qualified Operating Income vs Target | 122.26% | 86.41% | N/A |
| Net Income ($000s) | N/A | N/A | 288,869 |
| Adjusted EBITDA ($000s) | N/A | N/A | 437,184 |
- 2023 goals were exceeded across quarters and full year; 2024 fell short amid lower gross margins and higher operating expenses .
- 9M 2025 Adjusted EBITDA increased YoY (from $419.3M to $437.2M), with continued cash returns via dividends and buybacks authorized by the Board .
Compensation Committee & Governance
- CLDC sets performance goals for EOCPS and LTI awards through a robust process with an independent consultant and management inputs; goals aim to be challenging yet achievable, aligned with strategy (Revenue Growth, ROIC) .
- Anti‑hedging/pledging policy, clawback policy, and say‑on‑pay voting are part of governance; say‑on‑pay support was approximately 97% in 2022 .
- Board committees oversee risk, compensation, succession, and ESG; enhancements include greater transparency in compensation disclosures and target alignment .
Investment Implications
- Alignment: Lutz’s remit over compensation and talent strategy operates within a framework emphasizing qualified operating income for STI and revenue growth/ROIC for LTI—metrics that reinforce profitability and capital efficiency, supporting pay‑for‑performance principles .
- Retention and vesting dynamics: Officer PSUs cliff‑vest after three years, suggesting potential concentrated vesting events; double‑trigger acceleration reduces single‑trigger windfalls, but sale events can still accelerate vesting subject to termination conditions and proration—important for retention and M&A scenarios .
- Selling pressure and ownership: Anti‑hedging/pledging policies mitigate misalignment risk; Lutz is not listed in Security Ownership tables covering NEOs/directors, leaving limited visibility into her personal holdings—monitor Form 4 filings for any notable transactions and vesting‑related sales .
- Performance backdrop: 2023 outperformance on operating income likely supported higher STI payouts; 2024 underperformance produced a 65.98% base payout with constrained MBO adjustments, tempering cash incentives—watch if 2025 YTD EBITDA strength translates to renewed STI momentum and how HR initiatives affect cost discipline and execution .