Bruce Schuman
UNIVERSAL TECHNICAL INSTITUTEAbout Bruce Schuman
Bruce Schuman is Chief Financial Officer of Universal Technical Institute, Inc. (UTI), appointed effective March 17, 2025; he serves as the company’s principal financial officer . He previously served as CFO of Vacasa, Inc. (June 2023–March 2025), CFO of Kiavi, Inc. (June 2021–December 2022), and held senior finance leadership roles over 27 years at Intel, including CFO of Intel Capital and multiple business units; he holds a BBA in Finance from New Mexico State University . Age disclosure in prior filings indicates he was 53 in August 2024 . UTI’s recent operating backdrop includes revenues up 45.0% to $607.4 million in FY2023, operating income of $21.4 million, and net income of $12.3 million; the company’s North Star strategy targets ~10% revenue CAGR and Adjusted EBITDA margin near 20% by fiscal 2029 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Vacasa, Inc. | Chief Financial Officer (later also Chief Accounting Officer) | CFO since Jun 2023; CAO since Sep 6, 2024 | Led financial strategy; company achieved its first year of profitability in 2023; appointed CAO with no compensation changes |
| Kiavi, Inc. | Executive Vice President & Chief Financial Officer | Jun 2021–Dec 2022 | Led rapid, profitable growth and IPO readiness initiatives |
| Intel Corporation | Vice President & CFO, Intel Capital; CFO, Server CPU & Memory Group; CFO, Enterprise & Government Group | 2017–2021 (various) | Senior finance leadership across investment arm and core business units |
| Universal Technical Institute, Inc. | Chief Financial Officer (Principal Financial Officer) | Mar 17, 2025–present | Appointed to drive second phase of North Star strategy focused on growth, diversification, optimization |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cirrus Secure | Board member | Current | Board service at a technology company (as disclosed) |
| Urban Light | Board member | Current | Board service at a non-profit (as disclosed) |
Fixed Compensation
| Component | Terms | Notes |
|---|---|---|
| Base Salary | $475,000 | Effective with CFO appointment on Mar 17, 2025 |
| Target Annual Cash Incentive | 65% of base salary | Eligible under company plan |
| Initial RSU Grant | $650,000 time-vested RSUs | Issued under Amended & Restated 2021 Equity Incentive Plan; vesting schedule not disclosed in 8‑K |
| Initial PSU Grant | $350,000 performance stock units | Issued under Amended & Restated 2021 Equity Incentive Plan; performance metrics and vesting not disclosed in 8‑K |
| Benefits | Medical and other benefits per standard company policies | Eligible to participate in other company plans |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting Terms |
|---|---|---|---|---|---|---|
| Annual Cash Incentive | Company bonus metrics | Plan caps at 150% of target; 0% if below threshold | Target 65% of base salary | Not disclosed | Not disclosed | Annual plan with clawback policy per NYSE rules |
| PSUs (Initial grant) | Not disclosed for Schuman | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Under 2021 Equity Plan (company historically used 3‑year PSU cycles tied to FY revenue (60%) and operating income (40%) with a 3‑year TSR modifier of 75–125%; historical FY2021 PSU payout was 60.4% of target) |
Note: Company historical PSU metrics provided for context; Bruce Schuman’s specific PSU metrics/targets/vesting were not disclosed in the March 17, 2025 8‑K .
Equity Ownership & Alignment
| Item | Disclosure | Details |
|---|---|---|
| Beneficial Ownership | Not shown in Jan 8, 2025 record date table | Schuman was appointed Mar 17, 2025; thus not included in the proxy’s beneficial ownership table as of the record date |
| Ownership Guidelines | CFO must hold 3x base salary in company stock | RSUs/RS count toward compliance; PSUs count only after vesting; executives may not sell until guideline met, except for taxes |
| Hedging/Pledging | Hedging prohibited | Short sales and derivative/monetization transactions prohibited; pledging not specifically disclosed in proxy |
| Clawback Policy | Adopted compliant with NYSE rules | Recovery of incentive comp for restatements/corrected metrics if overpaid relative to restated results |
| Change‑in‑Control Equity | Accelerated vesting for certain awards upon qualifying termination within one year post‑CIC under 2021 Plan | PSU award agreements provide vesting upon death, disability, or termination without cause/for good reason within one year after a change in control (plan terms) |
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment & Role | Appointed CFO effective Mar 17, 2025; serves as principal financial officer |
| Compensation Arrangements | Base $475,000; target bonus 65% of base; initial RSUs $650,000; initial PSUs $350,000; benefits per standard policies; eligible for company plans |
| Agreements/Relationships | No arrangement or understanding pursuant to which selected; no family relationships; no related‑party transactions requiring disclosure |
| Severance/Change‑of‑Control | Schuman’s specific severance terms not disclosed; company Severance Plan shows, for NEOs, cash severance varies by role (e.g., 12 months base salary upon CIC for NEOs) and annual incentive treatment (target through termination date upon CIC) with benefits and equity treatment per plan; double‑trigger cash severance (no single‑trigger cash) |
Investment Implications
- Initial package mixes cash and equity, with meaningful at‑risk elements (65% target bonus; $1.0M combined RSUs/PSUs), aligning incentives with performance and shareholder outcomes; clawback and hedging prohibitions further strengthen governance .
- Ownership alignment is reinforced by CFO stock ownership guidelines (3x salary) and restrictions on selling before meeting the guideline, which can reduce near‑term insider selling pressure as awards vest .
- Performance linkage on long‑term incentives likely follows UTI’s historical PSU construct (revenue, operating income, TSR modifier), supporting pay‑for‑performance; however, Schuman‑specific PSU metrics and vesting have not been disclosed yet—investors should monitor upcoming proxy filings for detail .
- Company’s strategic plan targets ~10% revenue CAGR and ~20% Adjusted EBITDA margin by FY2029; Schuman’s tenure across Intel, Kiavi and Vacasa (including Vacasa’s first profitable year) suggests relevant experience for driving margin expansion and disciplined growth at UTI .