MSA Safety Management

Management criteria checks 2/4

MSA Safety's CEO is Nish Vartanian, appointed in May 2018, has a tenure of 6.42 years. total yearly compensation is $10.01M, comprised of 9.8% salary and 90.2% bonuses, including company stock and options. directly owns 0.18% of the company’s shares, worth €11.78M. The average tenure of the management team and the board of directors is 1.1 years and 6.6 years respectively.

Key information

Nish Vartanian

Chief executive officer

US$10.0m

Total compensation

CEO salary percentage	9.8%
CEO tenure	6yrs
CEO ownership	0.2%
Management average tenure	1.1yrs
Board average tenure	6.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Nish Vartanian's remuneration changed compared to MSA Safety's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$267m
Dec 31 2023	US$10m	US$982k	US$59m
Sep 30 2023	n/a	n/a	US$34m
Jun 30 2023	n/a	n/a	US$13m
Mar 31 2023	n/a	n/a	-US$6m
Dec 31 2022	US$6m	US$909k	US$180m
Sep 30 2022	n/a	n/a	US$67m
Jun 30 2022	n/a	n/a	US$43m
Mar 31 2022	n/a	n/a	US$20m
Dec 31 2021	US$7m	US$863k	US$21m
Sep 30 2021	n/a	n/a	US$99m
Jun 30 2021	n/a	n/a	US$106m
Mar 31 2021	n/a	n/a	US$117m
Dec 31 2020	US$8m	US$875k	US$124m
Sep 30 2020	n/a	n/a	US$139m
Jun 30 2020	n/a	n/a	US$153m
Mar 31 2020	n/a	n/a	US$157m
Dec 31 2019	US$7m	US$805k	US$138m
Sep 30 2019	n/a	n/a	US$130m
Jun 30 2019	n/a	n/a	US$121m
Mar 31 2019	n/a	n/a	US$115m
Dec 31 2018	US$3m	US$665k	US$124m
Sep 30 2018	n/a	n/a	US$66m
Jun 30 2018	n/a	n/a	US$64m
Mar 31 2018	n/a	n/a	US$44m
Dec 31 2017	US$3m	US$452k	US$26m

Compensation vs Market: Nish's total compensation ($USD10.01M) is above average for companies of similar size in the German market ($USD3.34M).

Compensation vs Earnings: Nish's compensation has been consistent with company performance over the past year.

CEO

Nish Vartanian (63 yo)

6yrs

Tenure

US$10,008,651

Compensation

Mr. Nishan J. Vartanian, also known as Nish, serves as Director at Koppers Inc since 2024. He had been the President at MSA Safety Incorporated since June 4, 2017 until June 2023 and its Chief Executive Of...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Nishan Vartanian	Chairman & CEO	6yrs	US$10.01m	0.18% $ 11.8m
Steven Blanco	President	less than a year	US$2.73m	0.053% $ 3.5m
Lee McChesney	Senior VP	1.6yrs	US$2.58m	0.012% $ 777.2k
Stephanie Sciullo	Senior VP & President of MSA Americas	no data	US$1.85m	0.039% $ 2.6m
Jonathan Buck	Corporate Controller & Chief Accounting Officer	5.7yrs	US$780.94k	0.0098% $ 657.7k
Gregory Martin	Senior VP and Chief Product & Technology Officer	1.3yrs	no data	no data
Lawrence De Maria	Executive Director of Investor Relations	less than a year	no data	no data
Richard Roda	VP, Secretary & Chief Legal Officer	less than a year	no data	0.018% $ 1.2m
Chris Hepler	Executive Director of Corporate Development	no data	no data	no data
Glennis Williams	VP & Chief Human Resources Officer	no data	no data	no data
Dave Howells	President of MSA International	less than a year	no data	no data

1.1yrs

Average Tenure

50yo

Average Age

Experienced Management: M07's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Nishan Vartanian	Chairman & CEO	6.4yrs	US$10.01m	0.18% $ 11.8m
Steven Blanco	President	less than a year	US$2.73m	0.053% $ 3.5m
Robert Bruggeworth	Lead Independent Director	17.3yrs	US$259.97k	0.091% $ 6.1m
John Ryan	Independent Director	43.3yrs	US$219.97k	5.45% $ 365.7m
William Lambert	Independent Director	17.3yrs	US$219.97k	0.25% $ 16.8m
Diane Pearse	Independent Director	20.3yrs	US$229.97k	0.10% $ 6.8m
Gregory Jordan	Independent Director	5.3yrs	US$227.47k	0.014% $ 960.4k
Rebecca Roberts	Independent Director	10.6yrs	US$232.47k	0.022% $ 1.4m
William Sperry	Independent Director	5.3yrs	US$234.97k	0.014% $ 956.4k
Luca Savi	Independent Director	2.9yrs	US$219.97k	0.0071% $ 474.5k
Sandra Rogers	Independent Director	6.6yrs	US$222.47k	0.016% $ 1.1m

6.6yrs

Average Tenure

63yo

Average Age

Experienced Board: M07's board of directors are considered experienced (6.6 years average tenure).

MSA Safety Management

Management criteria checks 2/4

Key information

Recent management updates

MSA Safety Welcomes Larry De Maria Executive Director, Investor Relations

MSA Safety Incorporated, Annual General Meeting, May 10, 2024

Chairman & CEO recently sold €697k worth of stock

Chairman & CEO recently sold €1.8m worth of stock

MSA Safety Incorporated Announces Chief Executive Officer Changes

Bob W. Leenen Leaves MSA Safety Incorporated

Recent updates

MSA Safety Incorporated Declares Quarterly Dividend, Payable on June 10, 2024

First quarter 2024 earnings released: EPS: US$1.48 (vs US$3.83 loss in 1Q 2023)

MSA Safety Welcomes Larry De Maria Executive Director, Investor Relations

MSA Safety Incorporated to Report Q1, 2024 Results on Apr 29, 2024

MSA Safety, Inc Debuts Lighter Weight Fire Helmet

MSA Safety Incorporated, Annual General Meeting, May 10, 2024

Chairman & CEO recently sold €697k worth of stock

Chairman & CEO recently sold €1.8m worth of stock

MSA Safety Incorporated Announces Chief Executive Officer Changes

Full year 2023 earnings released: EPS: US$1.49 (vs US$4.58 in FY 2022)

Bob W. Leenen Leaves MSA Safety Incorporated

MSA Safety Incorporated to Report Q4, 2023 Results on Feb 14, 2024

Upcoming dividend of US$0.47 per share at 1.1% yield

MSA Safety Incorporated Declares First Quarter Dividend on Common Stock, Payable on March 10, 2024

Upcoming dividend of US$0.47 per share at 1.2% yield

MSA Safety Incorporated Declares a Fourth Quarter Dividend, Payable December 10, 2023

Third quarter 2023 earnings released: EPS: US$1.66 (vs US$1.15 in 3Q 2022)

MSA Safety Incorporated to Report Q3, 2023 Results on Oct 24, 2023

Now 24% undervalued

Upcoming dividend of US$0.47 per share at 1.1% yield

MSA Safety Incorporated Declares Quarterly Dividend, Payable on September 10, 2023

Second quarter 2023 earnings released: EPS: US$1.71 (vs US$1.21 in 2Q 2022)

MSA Safety Incorporated to Report Q2, 2023 Results on Jul 31, 2023

MSA Safety Incorporated Appoints Richard Roda as Its Chief Legal Officer

Insider recently sold €586k worth of stock

Chairman & CEO recently sold €1.7m worth of stock

MSA Safety Incorporated Announces Management Changes

MSA Safety Incorporated Highlighting the Power of Connected Safety Programs At American Industrial Hygiene Conference & Exposition

First quarter 2023 earnings released: US$3.83 loss per share (vs US$0.90 profit in 1Q 2022)

Insider recently sold €91k worth of stock

Full year 2022 earnings released: EPS: US$4.58 (vs US$0.54 in FY 2021)

MSA Safety Incorporated to Report Q4, 2022 Results on Feb 15, 2023

MSA Safety Incorporated Declares Quarterly Dividend, Payable on March 10, 2023

R&Q Insurance Holdings Ltd. (AIM:RQIH) and Obra Capital, Inc. acquired Mine Safety Appliances Company, LLC from MSA Safety Incorporated (NYSE:MSA).

Insider recently sold €542k worth of stock

Insufficient new directors

Upcoming dividend of US$0.46 per share

Investor sentiment improved over the past week

MSA Safety Incorporated Declares Quarterly Dividend, Payable on December 10, 2022

Third quarter 2022 earnings released: EPS: US$1.15 (vs US$0.48 in 3Q 2021)

MSA Safety Incorporated to Report Q3, 2022 Results on Oct 26, 2022

MSA Safety Incorporated Appoints Lee Mcchesney as Senior Vice President

Independent Director recently sold €62k worth of stock

MSA Safety Declares Third Quarter Dividend, Payable on September 10, 2022

MSA Safety Incorporated Announces Resignation of Kenneth D. Krause as Senior Vice President and Treasurer, Effective from August 26, 2022

Second quarter 2022 earnings released: EPS: US$1.22 (vs US$0.64 in 2Q 2021)

MSA Safety Incorporated to Report Q2, 2022 Results on Jul 27, 2022

MSA Safety Unveils New Line of Firefighter Protective Clothing at Interschutz

Upcoming dividend of US$0.46 per share

MSA Safety Incorporated Increases Quarterly Dividend, payable on June 10, 2022

Insufficient new directors

MSA Safety Showcases the Power of Connected Technology to Enhance Firefighter Safety at FDIC

MSA Safety Incorporated to Report Q1, 2022 Results on Apr 27, 2022

MSA Safety Incorporated, Annual General Meeting, May 13, 2022

MSA Safety Incorporated to Report Q4, 2021 Results on Feb 17, 2022

MSA Safety Inc. Announces to Relocate 64 Support Positions to Warsaw, Poland

Independent Director recently sold €3.6m worth of stock

Third quarter 2021 earnings released: EPS US$0.48 (vs US$0.72 in 3Q 2020)

Director recently sold €1.3m worth of stock

Chairman recently sold €1.2m worth of stock

Second quarter 2021 earnings released: EPS US$0.64 (vs US$0.93 in 2Q 2020)

MSA Safety Incorporated (NYSE:MSA) completed the acquisition of Bacharach, Inc. from FFL Partners, LLC.

MSA Safety Incorporated(NYSE:MSA) dropped from Russell 1000 Dynamic Index

MSA Safety Incorporated (NYSE:MSA) entered into an agreement to acquire Bacharach, Inc. from FFL Partners, LLC for approximately $340 million.

Upcoming dividend of US$0.44 per share

MSA Safety Incorporated Increases Second Quarter Dividend, Payable June 10, 2021

First quarter 2021 earnings released: EPS US$0.93 (vs US$1.12 in 1Q 2020)

Chairman recently sold €210k worth of stock

Full year 2020 earnings released: EPS US$3.09 (vs US$3.52 in FY 2019)