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Timothy J. FitzGerald is the CEO of Middleby Corporation, a leader in foodservice equipment production. He has a strong background in finance, holding a Bachelor’s degree in Accounting from Northern Illinois University and an MBA from the University of Chicago....

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Timothy J. FitzGerald

CEO of Middleby

Education

Bachelor's degree in Accounting from Northern Illinois University and an MBA from the University of Chicago

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Industrials

Born

January 1, 1970 - 55 years ago

CEO of Middleby for

6 years 1 month (Feb 2019 - Present)

Previous Experience

Vice President and Chief Financial Officer at Middleby Corporation since 2003

Holdings

See how much did Timothy J. FitzGerald make over time.

Timothy J. FitzGerald’s stock holdings have fluctuated significantly over the years. At his peak in January 2021, his reported holdings were valued around $67 million, indicating a high level of confidence in Middleby’s performance at that time. Following this peak,...

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Total Stock Sold

$10.91M

MIDD

$10.91M

618,839 MIDD shares

What if they kept their stock?

If Timothy J. FitzGerald didn't sell their stock, today they would have:
Extra MIDD618,839 shares worth $34.57M.
This is 216.78% and $23.66M more than what they got when they sold the stock.

Charitable Transactions

MIDD

56,250 shares

MIDD

Recent Charitable Transactions

MIDD

56,250 shares

MIDD

Jan 2, 2021

Charity

Insider Trading

See recent insider trades of Timothy J. FitzGerald.

MIDD

15,449 shares

MIDD

May 14, 2024

Received

MIDD

45,268 shares

MIDD

Feb 26, 2024

Received

MIDD

13,919 shares

MIDD

Aug 9, 2023

Received

MIDD

43,332 shares

MIDD

Feb 27, 2023

Received

MIDD

14,671 shares

MIDD

May 15, 2022

Received

MIDD

$992.15K

MIDD at $132.29/share

May 12, 2022

Purchase

MIDD

25,000 shares

MIDD

Feb 28, 2022

Received

MIDD

11,666 shares

MIDD

Sep 7, 2021

Received

MIDD

10,834 shares

MIDD

Dec 31, 2020

Received

MIDD

56,250 shares

MIDD

Jan 2, 2021

Charity

Compensation History

See how much did Timothy J. FitzGerald make over time.

In 2022, Timothy J. FitzGerald’s total compensation reached approximately $9.4 million. His base salary saw a consistent figure of $975,000, but what really stands out is his performance-based bonuses. For instance, his bonuses for 2022 alone were around $1.94 million, reflecting his contribution to the company's performance. He received significant vested stock options valued at nearly $6.9 million due to meeting various performance metrics. This compensation structure shows how deeply Middleby ties executive pay to company performance, encouraging top management to drive growth and profitability while keeping a close eye on shareholder interests. Comparable compensation from previous years illustrates a steady rise, showcasing his impactful leadership.

Year

2022

Total Compensation

$9.84M

Salary

$975.00K

Board Justification

The compensation program is designed to attract and retain executive talent, link executive compensation with financial and operating performance, and align executive equity incentive compensation with stockholder interests.

Bonus

$1.94M

Board Justification

Annual performance-based cash compensation based on performance against goals for EBITDA$ and EBITDA% for fiscal year 2022.

Other

$16.95K

Board Justification

Includes a $1,375 Company contribution to a health savings account, $2,070 in Company-paid life insurance premiums, and a 401(k) Company matching contribution of $13,500.

Restricted Stock

$6.91M(43.33K PSUs)

Board Justification

Performance-based PSUs that vested based on the achievement of Adjusted EPS Growth and Enterprise Value Growth (Less Net Debt) per share performance metrics for the two-year performance period ending December 31, 2022.

Performance Metrics

Performance metrics include EBITDA$ and EBITDA% for annual cash incentives, and Adjusted EPS Growth and Enterprise Value Growth (Less Net Debt) per share for long-term equity incentives.

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