Matt Dunn
Chief Financial Officer and Treasurer at SSD
Executive
About Matt Dunn
Matt Dunn is Simpson Manufacturing’s Chief Financial Officer and Treasurer, appointed effective January 1, 2025, after joining in June 2024 as Senior Vice President, Finance; he is 45 and holds BA degrees in Finance and Accounting from Cedarville University . Company performance during 2024 included net sales of $2.2B, operating margin of 19.3%, diluted EPS of $7.60, revenue growth of 0.8%, and ROIC of ~14.9% . The Company’s 2024 pay-versus-performance table shows a $100 initial investment growing to $215.81 for Simpson versus $224.90 for its peer index as of 2024 year-end .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Helen of Troy | SVP Finance, North America | Mar 2023–May 2024 | Led financial performance for largest region of a ~$2B consumer products company |
| Helen of Troy | SVP Finance & Operations – Beauty | Nov 2018–Feb 2023 | Drove finance and operations across Beauty portfolio |
| Inventure Group LLC | President – SINE Wall Division | 2016–2018 | Ran a civil construction products division; P&L leadership |
| Procter & Gamble | Finance roles (increasing seniority) | 12 years | Corporate finance and strategy across high-profile brands |
| Kimberly-Clark | Operations finance | 3 years | Plant/operations finance foundation |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No related-party transactions or family relationships requiring disclosure; no arrangements underlying selection |
Fixed Compensation
| Component | 2025 Target/Amount | Notes |
|---|---|---|
| Base Salary | $575,000 | Per offer letter dated Oct 17, 2024 |
| Target Cash Profit Sharing (CPS) | $431,250 | Earned 0–200% of target based on plan metrics |
| Target Long-Term Incentive (LTI) | $862,500 | Mix of PSUs (0–200% earned) and RSUs |
| Benefits/Perquisites | Customary senior executive benefits | Same basis as other senior executives |
Performance Compensation
Short-Term Incentive (CPS/EOCPS)
| Metric | Weighting | Target Structure | Payout Mechanics | Modifier | Vesting/Timing |
|---|---|---|---|---|---|
| Qualified Operating Income (QOI) | 40% Quarterly / 60% Annual | Threshold at 70% of target; maximum 130% annual/140% quarterly curves | 0–200% of target; quarterly awards with year-end true-up | MBO goals can adjust Q4/True-Up/Annual by ±20% (overall cap 200%) | Paid quarterly and after year-end (by Mar 15 of subsequent year) |
| 2024 QOI Goals vs Actual | Q1: T=117,960 / A=106,427 | Q2: T=158,749 / A=144,206 | Q3: T=162,020 / A=138,335 | Q4: T=110,141 / A=85,325 | Year: T=548,870 / A=474,293 |
Long-Term Incentive (PSUs/RSUs)
| Component | Metric | Weighting | Performance Period | Target/Payout | Vesting |
|---|---|---|---|---|---|
| PSUs (2024 design reference) | Revenue Growth | 50% | 3-year (annual goals set for each year in 2024-2026; average measured) | 0–200% of target | Vests after measurement; shares prorated if early vesting (e.g., change-in-control) |
| PSUs (2024 actuals) | Revenue Growth | — | 2024 | 0.8% (for year one of the cycle) | Result component used in 3-year average |
| PSUs (2024 design reference) | ROIC | 50% | 3-year (annual goals; average measured) | 0–200% of target | Same as above |
| PSUs (2024 actuals) | ROIC | — | 2024 | 15.0% (for year one of cycle) | Result component used in 3-year average |
| PSUs (2025 grant approach) | Aggregate metrics | — | Reverts to 3-year cumulative goals set at grant | 0–200% of target | Standard plan terms |
| RSUs | Time-based | — | 3 years | Fixed grant; no performance metric | Ratable vest in equal annual installments on 1st, 2nd, 3rd anniversaries |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | Not listed among named individuals in the ownership table as of Jan 31, 2025; no Dunn line item disclosed |
| Stock Ownership Guidelines | CFO: 3x base salary; unvested RSUs count as Eligible Shares; PSUs excluded |
| Holding Requirement | Until guideline met, must hold ≥50% of net shares acquired from grants |
| Hedging/Pledging | Prohibited for all directors, officers, employees (e.g., swaps, collars, margin accounts, pledging) |
| Clawback | Executive Compensation Recovery Policy compliant with Section 10D/NYSE; recovery of erroneously awarded performance-based comp after restatements |
| Deferred Compensation | Eligible execs can defer base, CPS, RSUs, PSUs; settled in cash or shares per elections; rabbi trust funded |
Employment Terms
| Term | Detail |
|---|---|
| Start at Simpson | Joined June 2024 as SVP Finance; CFO from Jan 1, 2025 |
| Role Scope | Oversees finance, risk management, capital allocation, budgeting, cash strategies, audit/tax teams, M&A evaluation/due diligence |
| Severance Plan (Tier 2 – CFO) | Non-CIC: 1.0x (base + annual CPS target) paid over 12 months; COBRA reimburse up to 12 months |
| Severance Plan (Tier 2 – CFO) | CIC (double-trigger): 2.0x (greater of CIC-year or termination-year base + CPS target); paid over 24 months or lump sum if Section 409A CIC; COBRA reimburse up to 24 months |
| Non-Compete / Non-Solicit | Company may require non-compete equal to Non-CIC period (12 months for Tier 2); broad non-solicit and confidentiality obligations |
| Equity Change-in-Control | Double-trigger accelerated vesting for PSUs/RSUs upon “sale event”; PSU shares prorated and paid post-measurement period; Section 409A timing constraints apply |
| 280G Treatment | Cut-back to avoid excise tax if it increases after-tax value; ordered reduction consistent with Section 409A |
Investment Implications
- Pay-for-performance alignment: Dunn’s incentive mix ties near-term CPS to Qualified Operating Income with MBO modifiers and caps, and long-term PSUs to Revenue Growth and ROIC with 0–200% payout ranges, reinforcing operational discipline and capital efficiency .
- Retention/overhang: RSUs vest in equal tranches over three years, which structurally discourages immediate disposition; anti-hedging/pledging policies further limit near-term selling pressure signals .
- Change-of-control economics: As Tier 2, the CFO’s CIC protection (2.0x base plus CPS target and 24 months COBRA reimbursement) combined with double-trigger equity vesting offers continuity incentives while avoiding tax gross-ups via 280G cut-back mechanics .
- Ownership alignment: CFO guideline at 3x salary and required post-vest holding of net shares enhances alignment; clawback policy adds downside governance for restatement scenarios .
Shareholder context: Say-on-Pay received ~99.5% support in 2024, and executive pay design emphasizes distinct STI vs LTI metrics with payout caps and longer performance cycles, suggesting continued investor backing of compensation governance .