Roberto Kuahara
About Roberto Kuahara
Senior Vice President, Global Operations at Thermon Group Holdings since February 14, 2022; age 59 as of May 22, 2025; B.S. in Mechanical Engineering from University of Mackenzie; 30+ years in multi-site manufacturing, including Toyota Production System and Six Sigma expertise . Company pay-for-performance links compensation to Adjusted EBITDA, Revenue and TSR/CAP; FY2024 results included record revenue of $494.6M (+12% YoY) and record Adjusted EBITDA of $104.2M (+12% YoY), supporting strong alignment between operating execution and incentive design .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SPM Oil & Gas (Caterpillar) | Vice President, Manufacturing & Supply Chain, Continuous Improvement & EHS | 2021–2022 | Brought operational excellence, Six Sigma and Toyota Production System capabilities to drive productivity, gross margin and EBITDA margin expansion . |
| Weir Group plc (Oil & Gas division) | Divisional VP, Operations, Continuous Improvement & EHS | 2011–Jan 2021 | Led operations and continuous improvement until division sale to Caterpillar in Feb 2021 . |
| Automotive industry (Ford, Volkswagen, Dana at Toyota) | Various manufacturing/operations roles | Pre-2011 | TPS trainer; deep background in lean/Six Sigma; experience in U.S. and Japan . |
External Roles
No public company board roles disclosed in Thermon filings; executive roles listed only in “Information About Our Executive Officers” .
Fixed Compensation
Multi-year summary compensation (NEO):
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Salary ($) | $308,219 | $340,820 | $353,539 |
| Stock Awards ($) | $585,850 | $249,962 | $299,958 |
| Non-Equity Incentive (STIP) ($) | $277,397 | $135,558 | $134,393 |
| All Other Compensation ($) | $40,021 | $14,155 | $17,118 |
| Total ($) | $1,211,487 | $740,495 | $805,008 |
Base salary progression and target bonus:
- Base salary at March 31, 2024: $344,520; at March 31, 2025: $356,578 (+3.5%) .
- FY25 STIP target opportunity: 50% of base salary; target payout $176,769; actual payout $134,393 (~76% of target) .
All Other Compensation detail (FY2025):
| Item | Amount ($) |
|---|---|
| Company 401(k) contribution | $13,930 |
| Group life insurance | $2,322 |
| Company HSA contribution | $866 |
| Total | $17,118 |
Performance Compensation
FY25 STIP structure and outcome:
| Metric | Weighting (%) | Target | Actual | Payout | Notes |
|---|---|---|---|---|---|
| Revenue | Not disclosed | Pre-set threshold/target/maximum | Not disclosed | Included in overall ~76% factor | Company-wide funding metric . |
| Adjusted EBITDA | Not disclosed | Pre-set threshold/target/maximum | Not disclosed | Included in overall ~76% factor | Company-wide funding metric . |
| ESG (safety, diversity, retention) | Not disclosed | Pre-set threshold/target/maximum | Not disclosed | Included in overall ~76% factor | Company-wide funding metric . |
| Overall STIP | — | $176,769 | $134,393 | 76% | Calculated on updated base salary timing rules . |
FY25 LTIP grants (granted June 1, 2024; approved May 14, 2024):
| Award Type | Target Units (#) | Grant Date Fair Value ($) | Target Weighting | Vesting |
|---|---|---|---|---|
| RSU (time-vested) | 3,110 | $104,994 | 35% | Equal tranches on June 1, 2025/2026/2027 . |
| ROIC PSU | 2,665 | $89,970 | 30% | Three one-year performance periods; settle March 31, 2027, subject to HCMC certification . |
| Adjusted EBITDA PSU | 3,110 | $104,994 | 35% | Three one-year performance periods; settle March 31, 2027, subject to HCMC certification . |
Notes:
- PSU metrics emphasize profitability and capital efficiency (Adjusted EBITDA and ROIC), replacing RTSR in recent program updates; ROIC threshold initially set at WACC in FY2024 design to ensure value creation .
- Estimated fair values based on closing prices and probable performance at grant; RSU/PSU June 1, 2024 price $33.76; November 1, 2024 RSU price $26.41 (for CFO hire award) .
Equity Ownership & Alignment
Beneficial ownership and outstanding awards (as of record date / year-end):
| Item | Amount | Notes |
|---|---|---|
| Shares beneficially owned | 18,819; <1% of SO | Based on 33,243,095 shares outstanding; individual <1% ownership . |
| Unvested RSUs (#) | 19,466; MV $542,128 | Valued at $27.85/share on March 31, 2025 . |
| Unearned PSUs (# at target) | 12,923; payout value $359,906 | Valued at $27.85/share; actual settlement depends on performance . |
| Options (exercisable/unexercisable) | None | No outstanding options listed . |
| Stock ownership guideline | SVP: 2x base salary; 100% retention until met | RSUs, restricted shares, indirect holdings count; PSUs/options excluded . |
| Compliance status | In compliance or within allowed period | Company-wide statement for NEOs . |
| Hedging/pledging | Prohibited; annual attestation required | No margin accounts; no hedging or pledging allowed . |
Vesting schedule detail for Kuahara (selected items):
- RSUs granted June 1, 2022: 2,977 unvested; vest June 1, 2025 .
- RSUs granted June 1, 2023: 2,566 unvested; vest June 1, 2025 and June 1, 2026 (equal annual installments) .
- RSUs granted June 1, 2024: 3,110 unvested; vest June 1, 2025/2026/2027 (equal annual installments) .
- RSUs granted January 31, 2023: 10,813 cliff vest January 31, 2026 (retention award) .
- PSUs granted June 1, 2023: ROIC 3,299; EBITDA 3,849; vest March 31, 2026 (subject to certification) .
- PSUs granted June 1, 2024: ROIC 2,665; EBITDA 3,110; vest March 31, 2027 (subject to certification) .
Employment Terms
| Term | Detail |
|---|---|
| Start date & role | Appointed SVP, Global Operations effective Feb 14, 2022 . |
| Initial comp | Base salary $305,000; one-time cash sign-on bonus $115,000 (repayment if resign/for-cause within 2 years); RSU grant $50,000; relocation benefits up to $100,000 . |
| Base salary updates | Increased to $356,578 by March 31, 2025 (+3.5% YoY) . |
| Severance plan (non-CIC) | For NEOs other than CEO: 12 months base salary; pro-rated annual bonus; COBRA lump sum; equity pro-rata/settle per agreements . |
| CIC provisions (double trigger) | For NEOs other than CEO: 2x (base+bonus) over 24 months; pro-rated annual bonus; COBRA lump sum; 100% vesting on equity for qualifying termination; if awards not assumed, may vest at greater of target or actual . |
| Clawback policy | Dodd-Frank/NYSE-compliant; no-fault recovery of incentive-based compensation upon financial restatement . |
| Indemnification | Standard DGCL-based indemnification; directors/officers covered; liability insurance in place . |
Potential payments (estimated as of March 31, 2025):
| Scenario | Base Salary Continuation ($) | Bonus ($) | COBRA Lump Sum ($) | RSU Acceleration ($) | PSU Acceleration ($) | Total ($) |
|---|---|---|---|---|---|---|
| Termination w/o cause or resignation w/ good reason (non-CIC) | $356,578 | $176,769 | $27,703 | $542,128 | $186,326 | $1,289,504 |
| CIC (double trigger; cash-out assumption at target) | $713,156 | $353,539 | $55,406 | $542,128 | $359,906 | $2,200,904 |
Investment Implications
- Pay-for-performance alignment: 65% of FY25 LTIP is PSUs tied to Adjusted EBITDA (35%) and ROIC (30%), with STIP focused on Revenue, Adjusted EBITDA, and ESG; this should incentivize profitability and capital efficiency while maintaining operating discipline .
- Vesting calendar and potential selling pressure: RSUs vest on June 1 (2025–2027) and Jan 31, 2026; PSUs settle March 31, 2026/2027—monitor Form 4s around these dates for potential sell-to-cover activity and incremental insider supply .
- Ownership alignment and risk controls: Personal ownership is modest (18,819 shares; <1%); offset by strict 2x salary ownership guideline with 100% retention, plus explicit prohibitions on hedging/pledging—reduces alignment risk associated with leverage/derivatives .
- Retention indicators: FY2023 retention RSU ($250,000) and FY2025 20% LTIP target increase signal that Kuahara is viewed as critical to Thermon’s operations improvement agenda; retention risk appears mitigated near-term .
- Change-of-control economics: Double-trigger CIC benefits at 2x base+bonus plus equity acceleration could be meaningful in a transaction; investors should factor potential management continuity costs and equity settlement mechanics into M&A scenarios .
- Execution track record: Management commentary cites lead-time reductions, higher operational velocity, and supply chain resilience as part of the Thermon Business System roll-out—key levers for margin expansion and cash flow that align with incentive metrics .
- Clean governance profile: No related-party transactions reported at hire; clawback policy fully compliant; one late Form 4 noted in FY2023 with subsequent filing—no material regulatory red flags observed .