Charles Hunsinger
About Charles Hunsinger
Charles Hunsinger, age 57, is Chief Information Officer of Savers Value Village (SVV) since October 2022. He holds a BS in Electrical Engineering from the University of Oklahoma and brings 30+ years of IT leadership across retail, e-commerce, direct marketing/catalog, B2B, and wholesale, including prior CIO roles at Oriental Trading Company (six years), Harry & David, Musicians Friend/Guitar Center, and Corporate Express/Staples, plus VP of Customer Technologies at L.L.Bean and earlier consulting at Accenture . Company performance context during his tenure: cumulative TSR from IPO fell to a $45 value for an initial $100 investment in 2024 versus $76 in 2023, while net income and Adjusted EBITDA were $29.0M and $296.2M in 2024, respectively .
| Performance Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($USD Thousands) | $84,720 | $53,115 | $29,030 |
| Adjusted EBITDA ($USD Thousands) | $301,686 | $322,377 | $296,164 |
| Company TSR – Value of $100 | — | $76 | $45 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oriental Trading Company | Chief Information Officer | Prior six years before Oct 2022 | Led IT for a Berkshire Hathaway subsidiary with deep retail/direct marketing operations |
| Harry & David | Chief Information Officer | Not disclosed | Retail and direct marketing technology leadership |
| Musicians Friend/Guitar Center | Chief Information Officer | Not disclosed | E-commerce and retail IT leadership |
| Corporate Express/Staples | Chief Information Officer | Not disclosed | B2B/wholesale IT leadership |
| L.L.Bean | VP, Customer Technologies | Not disclosed | Customer-facing tech capabilities in retail |
| Accenture | Consultant | Not disclosed | Foundational process/technology consulting experience |
External Roles
- None disclosed for Hunsinger (skip if not disclosed) .
Fixed Compensation
| Component (FY 2024) | Detail |
|---|---|
| Base Salary | $420,240 |
| Target Bonus % of Salary | 75% |
| Actual AIP Bonus Paid | $31,518 (10% of target based on AIP performance at ~86% of goal) |
| Health, Welfare, 401(k), Deferred Comp Eligibility | Standard executive benefits; nonqualified deferred comp plan available |
| Deferred Comp (2024) | Executive contributions: $68,458; Aggregate balance at year-end: $112,623 |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout Curve | Hunsinger Target ($) | Hunsinger Actual ($) | Vesting/Timing |
|---|---|---|---|---|---|---|---|
| Adjusted EBITDA (AIP) | 100% | $345,410,637 | $298,154,397 (86% of target) | 10% at 86%; 100% at 100%; 200% at 120% | $315,180 (75% of $420,240) | $31,518 (10% of target) | Paid post-year end per AIP |
- AIP metric definition excludes non-recurring items to better reflect operating performance; payout capped at 200% .
Equity Awards (Grants, Terms, Vesting)
| Award Type | Grant Date | Shares/Options | Strike | Expiration | Grant-Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|---|---|
| RSU | 3/12/2024 | 20,304 | — | — | $399,989 | 1/3 each on 2nd, 3rd, 4th anniversaries (3/12/2026, 3/12/2027, 3/12/2028) |
| Stock Option | 3/12/2024 | 41,753 | $19.70 | 3/12/2034 | $399,994 | 1/3 each on 2nd, 3rd, 4th anniversaries (3/12/2026–2028) |
| RSU | 6/29/2023 | 20,333 | — | — | — | Cliff-vest on 3rd anniversary (6/29/2026) |
| Stock Option | 2/7/2023 | 57,043 unexercisable; 14,261 exercisable | $13.57 | 2/7/2033 | — | Generally equal installments over 5 years (time-based) |
| Stock Option | 12/16/2022 | 139,690 unexercisable; 93,128 exercisable | $15.42 | 12/16/2032 | — | Generally equal installments over 5 years (time-based) |
- No option exercises or RSU vesting reported for Hunsinger in FY 2024 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 135,750 shares; includes 121,650 shares subject to options exercisable within 60 days of 3/31/2025; <1% of class |
| Outstanding RSUs at FY2024 YE | 20,333 ($209,633 value at $10.31) and 20,304 ($209,334 value) |
| Outstanding Options (FY2024 YE) | 93,128 exercisable / 139,690 unexercisable (12/16/2022); 14,261 exercisable / 57,043 unexercisable (2/7/2023); 41,753 unexercisable (3/12/2024) |
| Hedging/Pledging | Prohibited for executive officers; company policy bans hedging/pledging |
| Rule 10b5-1 Trading Plans | Strongly encouraged; cooling-off periods required |
| Executive Ownership Guidelines | 2x base salary for non-CEO executives; compliance due by 5th anniversary; includes outright + unvested RSUs; excludes options/performance-based awards |
Employment Terms
| Provision | Hunsinger Terms |
|---|---|
| Employment Agreement | At-will with agreed severance/change-in-control protections (consistent with other NEOs) |
| Severance (Involuntary w/o Cause or Good Reason) | 12 months base salary; pro-rated AIP at actual; 12 months COBRA; $10,000 outplacement; estimated cash $768,836; no equity acceleration (outside pro-rated time-based options under pre-IPO plan rules) |
| Death/Disability | Accelerated vesting value estimate: $418,967 (as of 12/27/2024) |
| Change in Control | Double-trigger vesting under Omnibus Plan; accelerated vesting value estimate: $418,967 (as of 12/27/2024) |
| Non-Compete | Up to 18 months post-termination; also confidentiality, non-disparagement, non-solicit obligations |
| Clawback | Recovery of incentive comp for 3 years preceding a material restatement |
| Tax Gross-ups | None (280G better-of provision applies for most NEOs; no gross-up) |
Compensation Structure Analysis
- Pay mix emphasizes variable AIP tied solely to Adjusted EBITDA, creating direct linkage to operating performance; FY 2024 payout was 10% of target after achieving ~86% of AIP goal, indicating discipline in pay-for-performance alignment .
- Transition to public-company LTI mix (50% options, 50% RSUs) with multi-year vesting promotes retention while maintaining equity alignment; options struck at market prices and RSUs vesting over 2–4 years reduce immediate liquidity, moderating near-term selling pressure .
- Governance safeguards include anti-hedging/pledging, ownership guidelines (2x salary), clawback, and encouragement of Rule 10b5-1 plans, all supportive of investor alignment and risk mitigation .
Investment Implications
- Alignment: AIP tied to Adjusted EBITDA with low FY 2024 payout (10% of target) reinforces pay-for-performance discipline; multi-year RSU/option vesting enhances retention and long-term alignment .
- Selling Pressure: No FY 2024 option exercises or RSU vesting reported for Hunsinger; sizeable unvested awards and standard blackout/10b5-1 practices imply limited discretionary near-term sales risk .
- Retention/COC Economics: Severance of ~1 year salary plus pro-rated AIP, double-trigger vesting under the Omnibus Plan, and an 18-month non-compete suggest balanced retention with reasonable change-of-control protections (no 280G gross-ups) .
- Ownership: Beneficial ownership <1% with options forming most of the count; adherence to ownership guidelines over time and prohibition on pledging/hedging reduce misalignment risk, though explicit guideline compliance status for Hunsinger is not disclosed .
- Execution Risk: Company TSR declined post-IPO (2023–2024) while Adjusted EBITDA remained resilient; CIO’s multi-channel retail IT background is relevant to operational efficiency and data/analytics initiatives core to SVV’s model, but macro and retail execution remain key drivers .
S&P Global disclosure: Where marked with an asterisk (*), values were retrieved from S&P Global.