Daniel L. Florness has been the CEO of Fastenal Company since January 2016. He joined the company in 1996 as Chief Financial Officer and later became Executive Vice President. Under his leadership, Fastenal has maintained a strong financial performance. His...

Daniel L. Florness has been the CEO of Fastenal Company since January 2016. He joined the company in 1996 as Chief Financial Officer and later became Executive Vice President. Under his leadership, Fastenal has maintained a strong financial performance. His pay model emphasizes growth in earnings, with a total compensation of $831,223 in 2023, which includes a base salary of $750,000 and a bonus for improved asset management. Interestingly, in 2021, he earned over $1.9 million, showcasing the peaks and valleys associated with performance-based pay. He has been active in buying and selling Fastenal stock, demonstrating his commitment to the company. For instance, he reported stock transactions worth up to $24.05 million in 2024 alone. This level of engagement indicates a strong belief in the company's future.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Fastenal CEOs

F

Daniel L. Florness

Ex-CEO of Fastenal

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Industrials

Born

January 1, 1965 - 60 years ago

CEO of Fastenal for

7 years 9 months (Jan 2016 - Oct 2023)

Previous Experience

Chief Financial Officer since June 1996.

Rivals

Competitors/colleagues of Daniel L. Florness

W

Donald G. Macpherson

CEO of W.W. Grainger

2023 Compensation

Stock

$6.63M

Salary

$1.10M

Bonus

$0.00

Other

$317.29K

Total Holdings

$126.49M

G

John C. Turner, Jr.

CEO of GMS

2023 Compensation

Stock

$1.65M

Salary

$865.00K

Bonus

$977.61K

Other

$23.29K

Total Holdings

$11.10M

W

Deidra C. Merriwether

CEO of W.W. Grainger

2023 Compensation

Stock

$2.00M

Salary

$693.84K

Bonus

$0.00

Other

$110.88K

Total Holdings

$12.82M

G

Mark W. Sheahan

CEO of Graco

2023 Compensation

Stock

$0.00

Salary

$985.00K

Bonus

$1.30M

Other

$26.76K

Total Holdings

$6.90M

B

Julian G. Francis

CEO of Beacon Roofing Supply

2023 Compensation

Stock

$7.76M

Salary

$929.81K

Bonus

$0.00

Other

$29.67K

Total Holdings

$22.10M

L

Marvin R. Ellison

CEO of Lowe's Companies

2023 Compensation

Stock

$27.72M

Salary

$1.45M

Bonus

$0.00

Other

$101.42K

Total Holdings

$133.34M

Holdings

See how much did Daniel L. Florness make over time.

Daniel Florness holds significant shares in Fastenal, engaging in insider trading on multiple occasions. His transactions peaked in late 2021, with sales reaching nearly $25 million. In January 2024, he reported more than $20 million in stock value sold. These...

Daniel Florness holds significant shares in Fastenal, engaging in insider trading on multiple occasions. His transactions peaked in late 2021, with sales reaching nearly $25 million. In January 2024, he reported more than $20 million in stock value sold. These fluctuations in his holdings illustrate how closely tied his financial success is to the company's performance. This involvement keeps him invested in company growth and shareholder value, showcasing his alignment with Fastenal's overall success.

Total Stock Sold

$17.69M

FAST

$17.69M

547,062 FAST shares

What if they kept their stock?

If Daniel L. Florness didn't sell their stock, today they would have:
Extra FAST547,062 shares worth $17.60M.
This is -0.47% and $83.54K less than what they got when they sold the stock.

Charitable Transactions

FAST

11,500 shares

FAST

Recent Charitable Transactions

FAST

3,500 shares

FAST

Nov 27, 2024

Charity

FAST

4,000 shares

FAST

Jan 3, 2017

Charity

Insider Trading

See recent insider trades of Daniel L. Florness.

FAST

3,500 shares

FAST

Nov 27, 2024

Charity

FAST

$2.69M

FAST at $84.50/share

Nov 11, 2024

Sale

FAST

$3.48M

FAST at $69.68/share

Sep 12, 2024

Sale

FAST

$3.12M

FAST at $68.14/share

Aug 21, 2024

Sale

FAST

$1.17M

FAST at $60.02/share

Nov 30, 2023

Sale

FAST

$1.20M

FAST at $60.21/share

Nov 14, 2023

Sale

FAST

$238.13K

FAST at $47.63/share

Sep 14, 2022

Purchase

FAST

$482.71K

FAST at $38.62/share

May 8, 2020

Sale

FAST

$286.50K

FAST at $38.20/share

Feb 12, 2020

Sale

FAST

$1.44M

FAST at $36.00/share

Oct 14, 2019

Sale

Compensation History

See how much did Daniel L. Florness make over time.

In 2023, Daniel Florness received a total compensation of $831,223—including a salary of $750,000 and bonuses tied to performance metrics. His pay continues a trend reflecting strong earnings performance, with a notable jump in his earnings to over $5 million in 2022. Fastenal's compensation philosophy values fair and equitable pay, aligning executive interests with those of shareholders. His bonuses and stock options reflect the company’s focus on growth, linking personal success directly to the company’s financial health.

Year

2023

Total Compensation

$833.22K

Salary

$750.00K

Board Justification

The compensation philosophy emphasizes fair and equitable treatment, aligning employee interests with shareholder value, and rewarding performance that contributes to company growth.

Bonus

$80.00K

Board Justification

Quarterly bonuses based on improvements in asset management relative to the prior year, totaling $80,000 for 2023.

Other

$3.22K

Board Justification

Annual profit-based matching contributions to the 401(k) plan.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards vested in 2023.

Performance Metrics

Compensation based on growth in pre-tax earnings and net earnings compared to the same quarter of the previous year.

Other Fastenal CEOs

Here are other CEOs of Fastenal

Willard D. Oberton

Ex-CEO of Fastenal

July 2015 - December 2015

Jeffery M. Watts

CEO of Fastenal

August 2024 - Present