Jubran Tanious
About Jubran Tanious
President and Chief Operating Officer at Savers Value Village (“SVV”), age 48, joined SVV in 2011 and has served as COO since November 2019; he oversees Store, Supply, Wholesale, and Real Estate Operations. He holds a BS in Chemical Engineering (Penn State) and an MBA (Harvard Business School), and previously led supply transformation as VP of Supply (2017–2019) following roles as Director of Supply and Regional Director of Stores; prior roles include Director of Business Risk Management at UnitedHealth Group, Product Marketer at 3M, and operations/engineering at Valspar; he is also a director of Savers Australia Pty Ltd . Company performance context: FY2024 net sales grew 2.5% to $1,537.6M vs $1,500.2M in FY2023, while Adjusted EBITDA (legacy definition) declined to $296.2M from $322.4M; “go-forward” Adjusted EBITDA (beginning FY2025 definition) was $272.6M (FY2024) vs $307.3M (FY2023) . Pay-versus-performance TSR: value of an initial $100 investment was $45 in 2024 (vs $76 in 2023), while peer group was $131 (2024) and $115 (2023) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Savers Value Village | President & COO | Nov 2019–present | Oversees Store, Supply, Wholesale, Real Estate Operations |
| Savers Value Village | VP of Supply | Jan 2017–Oct 2019 | Instrumental in transforming supply strategy and organization |
| Savers Value Village | Director of Supply; Regional Director of Stores | n/a | Operational leadership across stores and supply |
| UnitedHealth Group | Director, Business Risk Management | n/a | Risk management leadership |
| 3M Company | Product Marketer | n/a | Product marketing |
| Valspar Corporation | Operations Management & Engineering | n/a | Operations and engineering experience |
External Roles
| Organization | Role | Years |
|---|---|---|
| Savers Australia Pty Ltd | Director | n/a |
Fixed Compensation
| Component | FY2024 Value | Source |
|---|---|---|
| Base Salary (paid) | $540,740 | Summary Compensation Table |
| Base Salary at FY2024 year-end | $545,737 | Base Salaries table |
| AIP Target Bonus (%) | 75% of base salary | Narrative disclosure |
| AIP Target Bonus ($) | $409,303 | AIP Opportunities & Payouts |
| AIP Actual Bonus Paid ($) | $40,930 (10% of target) | AIP Opportunities & Payouts |
Performance Compensation
Annual Incentive Plan (AIP) – FY2024
| Metric | Weighting | Threshold | Target | Maximum | Actual | Payout vs Target |
|---|---|---|---|---|---|---|
| Adjusted EBITDA (sole metric) | 100% | $297,053,148 | $345,410,637 | $414,492,764 | $298,154,397 | 10% |
Equity Grants – FY2024
| Award Type | Grant Date | Shares/Options | Grant-Date Fair Value ($) | Exercise Price ($/sh) | Expiry | Vesting |
|---|---|---|---|---|---|---|
| RSUs | 3/12/2024 | 25,380 | $499,986 | — | — | Equal installments on 2nd, 3rd, 4th anniversaries |
| Stock Options | 3/12/2024 | 52,192 | $499,999 | 19.70 | 3/12/2034 | Equal installments on 2nd, 3rd, 4th anniversaries |
Option Exercises & Vested Stock – FY2024
| Name | Options Exercised (#) | Value Realized ($) | RSUs Vested (#) | Value Realized ($) |
|---|---|---|---|---|
| Jubran Tanious | 77,889 | $1,331,787 | — | — |
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Beneficial Ownership (3/31/2025) | 768,659 shares; less than 1% of class | Beneficial Ownership table |
| Shares Outstanding (3/31/2025) | 157,887,323 | Beneficial Ownership table |
| Approx. Ownership % | ~0.49% (768,659 / 157,887,323) | Calculated from reported figures |
| Options Exercisable within 60 days (3/31/2025) | 768,617 | Beneficial Ownership table |
| Unvested RSUs (12/27/2024) | 25,380 units; $261,668 value | Outstanding Equity Awards |
| Outstanding Options – key grants | See table below | Outstanding Equity Awards |
| Stock Ownership Guidelines | President required to hold 3x base salary; 5-year compliance window; includes owned shares and unvested RSUs; excludes options/performance awards | Policies |
| Anti-hedging / Pledging Policy | Company employs anti-hedging/pledging | Policies |
| 10b5-1 Plan (Selling Pressure) | Plan entered 9/10/2025 to potentially exercise vested options and sell up to 104,000 shares; effective 1/2/2026–6/30/2026 | Q3 2025 10-Q Item 5 |
Outstanding Equity Awards at FY2024 Year-End (J. Tanious)
| Grant Date | Exercisable Options (#) | Unexercisable Options (#) | Unearned Perf. Options (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|---|
| 6/12/2019 | 128,476 | — | 136,365 | 1.41 | 6/12/2029 |
| 6/12/2019 | 146,822 | — | — | 1.41 | 6/12/2029 |
| 11/1/2019 | 184,713 | — | 184,713 | 1.41 | 11/1/2029 |
| 11/1/2019 | 211,283 | — | — | 1.41 | 11/1/2029 |
| 12/9/2020 | 47,091 | — | 47,091 | 3.16 | 12/9/2030 |
| 12/9/2020 | 50,232 | 12,558 | — | 3.16 | 12/9/2030 |
| 3/12/2024 | — | 52,192 | — | 19.70 | 3/12/2034 |
Employment Terms
| Provision | Details | Source |
|---|---|---|
| Employment Agreement | At-will; base salary; annual cash bonus eligibility (target 75% of salary) and standard benefits | Employment Agreements |
| Severance (Without Cause / Good Reason) | 12 months base salary; pro-rated AIP bonus based on actual achievement; 12 months COBRA; outplacement services for some NEOs; performance-based options (pre-1/1/2022) remained eligible for performance-based vesting until 12/31/2024 | Employment Agreements |
| Change-in-Control Treatment | Post-IPO awards have double-trigger vesting (accelerate upon termination without cause in connection with/after a change-in-control); pre-IPO time-based options fully vest; performance-based options vest based on MOIC/VWAP if criteria met | Equity Compensation; Employment Agreements |
| 280G “Better-of” | Reduction to avoid excise taxes if it yields higher after-tax payment; no tax gross-ups | Employment Agreements |
| Clawback | 3-year recoupment of incentive comp upon material restatement | Policies |
| Non-compete | Up to 18 months post-termination; non-solicit 2 years | S-1 |
| Estimated Cash/Equity on Hypothetical Triggers (as of 12/28/2024) | Involuntary Termination: Cash $987,685; Accelerated Equity $4,674. Death/Disability: Accelerated Equity $266,372. Change in Control: Accelerated Equity $3,545,752 | Potential Payments Table |
Company Performance During Tanious’ Recent Tenure
| Metric | FY2023 | FY2024 |
|---|---|---|
| Net Sales ($000) | $1,500,249 | $1,537,617 |
| Adjusted EBITDA ($000) – legacy definition | $322,377 | $296,164 |
| Adjusted EBITDA ($000) – go-forward (beg. FY2025) | $307,326 | $272,579 |
| TSR – Value of Initial $100 | $76 | $45 |
| Peer Group TSR – Value of Initial $100 | $115 | $131 |
Compensation Structure Analysis
- 2024 mix shifted to 50% time-based options and 50% time-based RSUs (annual LTIs), aligning with public-company practice and retention; vesting over years 2–4 post-grant supports medium-term retention and alignment .
- AIP is 100% Adjusted EBITDA with strict calibration; FY2024 paid at 10% of target (Tanious $40,930) after achieving ~86% of goal, evidencing pay-for-performance discipline .
- No tax gross-ups under 280G; clawback policy and anti-hedging/pledging enhance governance quality .
Risk Indicators & Insider Selling Pressure
- Adopted Rule 10b5-1 plan on 9/10/2025 enabling exercise of vested options and sale of up to 104,000 shares between 1/2/2026 and 6/30/2026, indicating potential near-term selling pressure .
- Significant outstanding options at low legacy strikes ($1.41, $3.16) plus 2024 grant at $19.70 may create exercise dynamics; FY2024 option exercises totaled 77,889 shares with $1.33M realized value .
Investment Implications
- Strong alignment: large personal option exposure, 3x-salary ownership guideline, and double-trigger change-in-control vesting reduce entrenchment risk and tie outcomes to long-term performance .
- Near-term selling pressure likely in H1 2026 due to 10b5-1 authorization (up to 104,000 shares), and staggered vesting from 2024 grants; monitor Form 4s and liquidity impacts .
- Pay discipline anchored to Adjusted EBITDA resulted in 10% bonus payout for FY2024; with EBITDA margin compression vs FY2023, the incentive construct should focus execution on restoring profitability, a key lever for future payouts and equity value .
- Governance mitigants (clawback, no 280G gross-up, anti-pledging) lower compensation risk; retention risk moderated by multi-year vest schedules and substantial in-the-money legacy options .