Posted: 12/15/2024 08:05 am
Commercial Metals Company (NYSE: CMC), based in Irving, Texas, has consistently demonstrated a strong financial performance and a commitment to sustainability within the steel industry. As the company flourishes, compensation packages for its executives have varied significantly, reflecting both internal strategies and broader market conditions.
In 2024, Barbara R. Smith, the former Executive Chairman of CMC, received a total compensation package of $4,797,607. This included a base salary of $805,846 and a substantial stock award of $3,212,098, highlighting the company's strategy of aligning executive compensation with shareholder interests through equity incentives. Additionally, Smith's compensation included $624,000 in incentive plan compensation and $155,663 categorized under other compensations. Notably, there was no bonus or option award added to her compensation, which suggests a focus on long-term company growth rather than short-term targets[1].
Contrasting past figures, in 2019, under the leadership of Barbara R. Smith as President and CEO, her total compensation was significantly higher at $7,648,588. The major components at that time comprised a higher stock award valued at $4,414,341 and an incentive plan compensation of $2,049,000. This level of compensation supported a period of strategic expansion for CMC[2].
In 2020, Tracy L. Porter, then Executive Vice President and Chief Operating Officer, received a total compensation of $4,245,342. The key components included a stock award of $1,874,371 and an incentive plan compensation of $1,500,000. Similar to Smith, Porter's package excluded bonuses and options, maintaining the company's emphasis on strategic stock-based rewards[3].
In 2022, Jody K. Absher, CMC's Vice President, Chief Legal Officer, and Secretary, received a total of $1,909,344, characterized by a $722,523 stock award and $658,000 in incentive compensations. This package shows CMC's preference for stock-based incentives throughout its executive hierarchy, reinforcing the alignment of management goals with company performance[4].
Significantly, 2021 saw a curious gap where Peter R. Matt, serving as President and CEO, reflected a total compensation of $0. This anomaly might hint at unique contractual circumstances or reporting nuances that go beyond publicly available records[5].
With CMC's 2024 Sustainability Report emphasizing industry-leading environmental performance, the company navigates complex industry challenges and opportunities, as seen in recent initiatives like share-based debt settlements to manage financial obligations[6]. Despite a recent 2.39% dip in stock price, trading at $57.21, CMC maintains a market capitalization over $6.5 billion, reflecting robust market fundamentals and investor confidence[7].
1. SEC. Commercial Metals Company 2024 Compensation Report.
2. SEC. Commercial Metals Company 2019 Compensation Report.
3. SEC. Commercial Metals Company 2020 Compensation Report.
4. SEC. Commercial Metals Company 2022 Compensation Report.
5. SEC. Commercial Metals Company 2021 Compensation Report.
6. PR Newswire. CMC Publishes 2024 Sustainability Report, Dec 12, 2024.
7. GlobeNewswire. CMC Announces Shares for Debt Issuance, Dec 13, 2024.
