Sundar PichaiSundar Pichai earned $164M in 2023
D

Steven L. Berman

Ex-CEO of Dorman Products

Education

Bachelor's degree in Business Administration

Field of Expertise

Business & Management

Born

January 1, 1960 - 65 years ago

Economy Sector

Consumer Cyclical

Tenure

7 years 11 months (Jan 2011 - Dec 2018)

Previous Experience

Various positions at Dorman Products since 1978

Steven L. Berman has been at the helm of Dorman Products since 2011, stepping into the role of Chairman and Chief Executive Officer after the passing of his brother, Richard N. Berman. He has been with Dorman since 1978, accumulating...

Year

2023

Total Compensation

$1.02M

Salary

$420.00K

Board Justification

The compensation philosophy aims to align executive compensation with company performance and shareholder interests, rewarding executives for achieving strategic goals and operational excellence.

Bonus

$150.00K

Board Justification

Annual cash payment of $150,000 for each year during the three-year period following termination as Non-Executive Chairman.

Other

$451.27K

Board Justification

Includes transition pay of $298,846 for the period from April 1, 2023 to December 31, 2023, and company matching contributions under the 401(k) plan of $2,423.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants vested in 2023 as Mr. Berman will not receive compensation under the independent director compensation program until the later of the date the Unvested Awards vest and are payable and April 1, 2026.

Performance Metrics

Performance metrics include adjusted pre-tax income, net sales, and free cash flow as a percentage of net income.