Richard J. Tobin serves as the CEO of Dover Corporation, a role he has held since May 1, 2018. Before joining Dover, he was the CEO of CNH Industrial, overseeing a major global company in agriculture and construction equipment. Tobin's leadership experience spans various high-level positions, including Group COO at Fiat Industrial and CFO of CNH Global. He combines a strong background in finance with a hands-on understanding of operations, which is essential in today’s competitive marketplace. Under his guidance, Dover Corporation continues to push for innovation and growth in the manufacturing sector. His strategic vision helps the company meet its long-term goals, aiming to create lasting value for shareholders. Interestingly, Tobin has seen significant fluctuations in his wealth during his tenure, with a peak insider trading value of over $59 million in December 2021. His compensation reflects this performance-driven approach, hitting totals like $14 million in 2021. He has a practical focus on aligning executive bonuses with company performance, ensuring accountability.

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Richard J. Tobin

CEO of Dover

Field of Expertise

Business & Management

Sector of Economy

Industrials

CEO of Dover for

7 years 1 month (Mar 2018 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Richard J. Tobin

Vicente Reynal

CEO of Ingersoll Rand

2023 Compensation

Stock

$0.00

Salary

$1.13M

Bonus

$3.43M

Other

$175.95K

Total Holdings

$65.37M

Tamara S. Newcombe

CEO of Fortive

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$1.26M

Other

$98.75K

Total Holdings

$5.19M

Eric D. Ashleman

CEO of IDEX

2023 Compensation

Stock

$0.00

Salary

$1.00M

Bonus

$828.00K

Other

$320.21K

Total Holdings

$8.48M

E. Scott Santi

CEO of Illinois Tool Works

2022 Compensation

Stock

$0.00

Salary

$1.40M

Bonus

$0.00

Other

$0.00

Total Holdings

$70.26M

Nicholas Fanandakis

CEO of ITT

2023 Compensation

Stock

$0.00

Salary

$1.09M

Bonus

$0.00

Other

$158.98K

Total Holdings

$1.45M

Jonathan W. Painter

CEO of Kadant

2018 Compensation

Stock

$3.33M

Salary

$675.00K

Bonus

$0.00

Other

$39.29K

Total Holdings

$2.99M

Holdings

See how much did Richard J. Tobin make over time.

Richard J. Tobin's insider trading activities reveal a pattern of substantial engagement in Dover Corporation's stock. His holdings peaked in December 2021, with a staggering value of $59.13 million, reflecting his commitment and confidence in the company. This level of investment is no small feat, marking a significant increase in his wealth over time. In early 2023, his trading value remained high, averaging around $35 million, indicating sustained investment interest. Over the years, fluctuation in values demonstrated his agile management style, adapting to market circumstances. As of 2024, his trading activities remain robust, with values around $50 million. This ongoing involvement underscores his belief in the company's long-term prospects, further motivating strategic actions aimed at increasing shareholder value.

Total Stock Sold

$9.51M

DOV

$9.51M

56,519 DOV shares

What if they kept their stock?

If Richard J. Tobin didn't sell their stock, today they would have:
Extra DOV56,519 shares worth $4.79M.
This is -49.63% and $4.72M less than what they got when they sold the stock.

Charitable Transactions

DOV

77,000 shares

DOV

Recent Charitable Transactions

DOV

77,000 shares

DOV

Dec 31, 2021

Charity

Insider Trading

See recent insider trades of Richard J. Tobin.

DOV

28,827 shares

DOV

Feb 14, 2025

Received

DOV

$4.55M

DOV at $181.96/share

Aug 21, 2024

Sale

DOV

34,336 shares

DOV

Feb 8, 2024

Received

DOV

31,460 shares

DOV

Feb 10, 2023

Received

DOV

$4.95M

DOV at $157.21/share

Mar 3, 2022

Sale

DOV

57,288 shares

DOV

Feb 11, 2022

Received

DOV

77,000 shares

DOV

Dec 31, 2021

Charity

DOV

77,000 shares

DOV

Dec 31, 2021

Charity

DOV

194,697 shares

DOV

Feb 12, 2021

Received

DOV

13,349 shares

DOV

Feb 14, 2020

Received

Compensation History

See how much did Richard J. Tobin make over time.

In 2023, Richard J. Tobin's total compensation amounted to about $3.5 million, composed of a $1.29 million salary, a significant performance-based bonus of nearly $2 million, and additional benefits. His compensation reflects a pay-for-performance philosophy, which aims to align executive rewards with the company's strategic goals. In past years, his pay peaked at over $14 million in 2021, driven mainly by a substantial annual bonus related to exceeding company performance targets. The combination of base salary, bonuses, and stock options showcases his dual focus on achieving immediate results while maintaining a vision for sustainable growth. This strategic approach is essential at Dover, where executives are rewarded for delivering operational and financial excellence.

Year

2023

Total Compensation

$6.75M

Salary

$1.29M

Board Justification

Our compensation program is based on a pay-for-performance philosophy and is designed to incentivize executives to achieve financial and strategic goals that are aligned with the Company’s long-term business strategy and the creation of sustained, long-term value for our shareholders.

Bonus

$2.00M

Board Justification

Bonus amounts generally represent payments under our AIP for the year indicated, for which payments are made in the first quarter of the following year. The AIP constitutes a non-equity incentive plan under FASB ASC Topic 718.

Other

$207.19K

Board Justification

Amounts for 2023 represent: (i) 401(k) matching contributions of $14,850, (ii) dividends received on RSUs in the amount of $59,032, and (iii) for Mr. Tobin, $133,309 for the 4.5% non-elective contributions in the nonqualified deferred compensation plan, since he does not participate in the PRP.

Restricted Stock

$3.25M(21.22K performance shares)

Board Justification

The performance shares vested in 2023 are based on the three-year performance period of 2021-2023, and the performance is measured on relative TSR as described above. Consistent with our value creation over the three-year performance period, the performance shares vested in 2023 had a payout percentage of 76.6% for our NEOs.

Performance Metrics

The performance shares for the period, which vested at the end of 2023 and were based on relative TSR to the companies in the S&P 500 Industrials index, had a payout percentage of 76.6% for our NEOs.

Other Dover CEOs

Here are other CEOs of Dover

Robert A. Livingston

Ex-CEO of Dover

December 2008 - February 2018