Mindy Geisser
About Mindy Geisser
Mindy Geisser is Chief People Services Officer (CPSO) of Savers Value Village, serving since October 2015; she is age 56 and oversees benefits, compensation, HR systems, recruitment, training, team member relations, and employee engagement and retention, with prior HR leadership at Colliers International (CHRO), Slalom Consulting, Amazon, and Philips Medical Systems. She holds a BA from the University of Wisconsin–Madison and an MA in Industrial Relations from the University of Minnesota . Company performance context during her public-company tenure: Adjusted EBITDA was $301.7M in FY2022, $322.4M in FY2023, and $296.2M in FY2024, while cumulative TSR since IPO declined (value of a $100 investment: $76 in FY2023 and $45 in FY2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Colliers International | Chief Human Resources Officer | Not disclosed | Led enterprise HR; relevant to large multi-site organizations |
| Slalom Consulting | HR leadership | Not disclosed | Scaled human capital programs for consulting workforce |
| Amazon.com, Inc. | HR leadership | Not disclosed | Built HR processes in high-growth retail/tech context |
| Philips Medical Systems | HR leadership | Not disclosed | Supported regulated, global health-tech workforce |
Fixed Compensation
| Item | FY 2023 | Notes |
|---|---|---|
| Base Salary ($) | $482,040 | Year-end base set as part of NEO program |
| Target Bonus (% of Salary) | 75% | AIP maximum 200% of target |
| Actual AIP Bonus ($) | $372,376 | Paid under AIP; company payout ~103% of target |
| Discretionary/Special Bonus ($) | $1,362,100 | Special bonus linked to Feb 2023 notes issuance |
Performance Compensation
| Year | Metric | Weighting | Target | Actual | Payout | Vesting Notes |
|---|---|---|---|---|---|---|
| FY 2023 | Adjusted EBITDA (sole AIP metric) | 100% | 100% of goal | 101% of goal | 103% of target | Cash AIP; no vesting |
| FY 2024 | Adjusted EBITDA (sole AIP metric) | 100% | Threshold 86%=10%; Target 100%=100%; Max 120%=200% | ~86% of goal | ~10% of target | Cash AIP; no vesting |
| Equity LTI (structure) | Options/RSUs | n/a | n/a | n/a | n/a | Post-IPO RSUs; options vest over time. 2024 grants (company-wide): options and RSUs each vest 1/3 on the 2nd/3rd/4th anniversaries; some grants vest at 1st/2nd/3rd anniversaries (role-specific) . Pre-IPO performance options have MOIC/VWAP vesting; 25% vested at IPO; additional tranches via VWAP price hurdles . |
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Total Beneficial Ownership | 362,962 shares as of March 31, 2024 (<1% of class) |
| Pledging/Hedging | Prohibited for executive officers and directors |
| Stock Ownership Guidelines | Executives must hold shares equal to 2x base salary (CEO 5x; President 3x); compliance by 5 years; unvested RSUs count; options excluded |
| Deferred Compensation | Executive contributions in FY2023: $9,570; aggregate balance $25,911 |
| Perquisites | Perquisites totaled less than $10,000 in FY2023 |
| Insider Trading Plans | Company encourages use of Rule 10b5-1 trading plans with cooling-off periods |
Outstanding Equity Awards (FY 2023 Year-End)
| Grant Date | Type | Exercisable (#) | Unexercisable (#) | Unearned Perf. Options (#) | Exercise Price ($) | Expiration | Notes |
|---|---|---|---|---|---|---|---|
| 06/12/2019 | Time-based options | 203,638 | 50,910 | — | 1.41 | 06/12/2029 | Time-based vesting over 5 years |
| 06/12/2019 | Performance options | — | — | 286,368 | 1.41 | 06/12/2029 | Pre-IPO MOIC/VWAP vesting |
| 12/09/2020 | Time-based options | 23,973 | 15,982 | — | 3.16 | 12/09/2030 | Time-based vesting over 5 years |
| 12/09/2020 | Performance options | — | — | 44,952 | 3.16 | 12/09/2030 | Pre-IPO MOIC/VWAP vesting |
| RSUs | — | — | — | — | — | — | No RSUs reported outstanding for Mindy at FY2023 year-end |
Employment Terms
| Provision | Detail |
|---|---|
| Employment Agreement | At-will; AIP target 75% of salary; benefits per peer NEO agreements |
| Severance (Without Cause/Good Reason) | 12 months base salary; pro-rated AIP bonus based on actual results; 12 months COBRA; outplacement services for some NEOs; performance options pre-2022 remain eligible for vesting until 12/31/2024 |
| Non-Compete / Non-Solicit | Non-compete up to 18 months post-termination (12 months for CEO); confidentiality, proprietary, and non-disparagement covenants |
| Change-of-Control | “Double-trigger” equity vesting post-IPO under Omnibus Plan; pre-IPO options fully vest if MOIC criteria met; RSUs/options accelerated per plan terms |
| Clawback | 3-year recoupment of incentive comp upon material restatement |
| 280G/4999 Tax | No tax gross-ups; “better-of” cutback (reduce payments to avoid excise tax if yields higher after-tax amount) |
Illustrative Potential Payments (as of 12/30/2023)
| Scenario | Cash Benefits ($) | Accelerated Equity ($) |
|---|---|---|
| Involuntary Termination (Without Cause/Good Reason) | $888,416 | $630,099 |
| Change in Control | — | $9,845,806 |
Performance & Track Record (Human Capital under CPSO scope)
- Team member engagement rated “best-in-class” by an external consultant in retail sector; engagement linked to customer and NPP satisfaction .
- Internal promotions filled 72% of open salaried management roles in FY2023 and 62% in FY2024, indicating a robust internal pipeline .
- Female representation in management: 58% (FY2023) and 57% (FY2024); U.S. workforce diversity representation: 57% (FY2023) and 61% (FY2024) .
Company Performance Context (Revenue and EBITDA)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($) | $1,500.2M | $1,537.6M |
| EBITDA ($) | $203.0M* | $204.1M* |
Values marked with * were retrieved from S&P Global.
| Adjusted EBITDA ($USD thousands) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Adjusted EBITDA | $301,686 | $322,377 | $296,164 |
| TSR (Value of Initial $100 Investment) | FY 2023 | FY 2024 |
|---|---|---|
| Company TSR ($) | $76 | $45 |
Compensation Committee & Peer Group (Program Design Context)
- Compensation program uses peer group data (e.g., Academy Sports, Boot Barn, Five Below, Grocery Outlet, Ollie’s, Sprouts, Texas Roadhouse, National Vision, etc.) to inform levels and mix, without strict benchmarking .
- Independent consultant FW Cook advised the Committee in FY2023 and FY2024; no conflicts disclosed .
Risk Indicators & Governance
- Controlled company status under NYSE, with Ares-affiliated funds holding ~85% as of March 31, 2025; board and certain actions subject to Ares rights per Stockholders Agreement .
- Anti-hedging and anti-pledging policies in place for executives; clawback policy enacted; 10b5-1 trading plan usage encouraged .
- Insider Form 4 monitoring was attempted; API access returned 401 (unauthorized). Rely on proxy-based ownership and policies; monitor Form 4s going forward for selling pressure patterns.
Investment Implications
- Alignment: Significant option-based equity and strict anti-hedging/pledging plus ownership guidelines (2x salary) support alignment; however, beneficial ownership remains <1% of shares outstanding, reflecting a broad base and sponsor control .
- Pay-for-performance: AIP is fully tied to Adjusted EBITDA (100% weighting); FY2023 paid near target (103%), while FY2024 paid at ~10%—a clear linkage to results; long-term equity shifted from pre-IPO performance options to time-based RSUs/options in 2024, moderating risk profile .
- Retention risk: Severance provides 12 months pay and benefits with non-compete up to 18 months; substantial acceleration under change-in-control for legacy options could create event-driven incentives but is standard for sponsor-backed IPO transitions .
- Execution signal: Human capital metrics under Geisser’s purview (engagement, internal promotions, diversity) are strong, supporting store-level execution; however, TSR since IPO has been weak, and Adjusted EBITDA declined in FY2024, suggesting macro and operational pressures outweigh HR strengths near term .