FirstService Management

Management criteria checks 2/4

FirstService's CEO is D. Patterson, appointed in Sep 2003, has a tenure of 21.17 years. total yearly compensation is $6.63M, comprised of 12.6% salary and 87.4% bonuses, including company stock and options. directly owns 0.13% of the company’s shares, worth €10.55M. The average tenure of the management team and the board of directors is 9.4 years and 7.8 years respectively.

Key information

D. Patterson

Chief executive officer

US$6.6m

Total compensation

CEO salary percentage	12.6%
CEO tenure	21.2yrs
CEO ownership	0.1%
Management average tenure	9.4yrs
Board average tenure	7.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has D. Patterson's remuneration changed compared to FirstService's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$108m
Jun 30 2024	n/a	n/a	US$80m
Mar 31 2024	n/a	n/a	US$91m
Dec 31 2023	US$7m	US$833k	US$100m
Sep 30 2023	n/a	n/a	US$132m
Jun 30 2023	n/a	n/a	US$134m
Mar 31 2023	n/a	n/a	US$123m
Dec 31 2022	US$4m	US$811k	US$121m
Sep 30 2022	n/a	n/a	US$114m
Jun 30 2022	n/a	n/a	US$125m
Mar 31 2022	n/a	n/a	US$127m
Dec 31 2021	US$8m	US$802k	US$135m
Sep 30 2021	n/a	n/a	US$126m
Jun 30 2021	n/a	n/a	US$113m
Mar 31 2021	n/a	n/a	US$104m
Dec 31 2020	US$6m	US$410k	US$87m
Sep 30 2020	n/a	n/a	US$70m
Jun 30 2020	n/a	n/a	US$58m
Mar 31 2020	n/a	n/a	-US$249m
Dec 31 2019	US$5m	US$614k	-US$252m
Sep 30 2019	n/a	n/a	-US$246m
Jun 30 2019	n/a	n/a	-US$240m
Mar 31 2019	n/a	n/a	US$62m
Dec 31 2018	US$4m	US$608k	US$66m
Sep 30 2018	n/a	n/a	US$69m
Jun 30 2018	n/a	n/a	US$58m
Mar 31 2018	n/a	n/a	US$53m
Dec 31 2017	US$3m	US$587k	US$51m

Compensation vs Market: D.'s total compensation ($USD6.63M) is above average for companies of similar size in the German market ($USD3.61M).

Compensation vs Earnings: D.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

D. Patterson (63 yo)

21.2yrs

Tenure

US$6,633,400

Compensation

Mr. D. Scott Patterson has been the Chief Executive Officer of FirstService Corporation since June 01, 2015 and serves as its President. Pre-spin-off, Mr. Patterson was the President and Chief Operating Of...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jay Hennick	Founder & Independent Chairman of the Board	9.4yrs	US$308.50k	5.94% € 493.3m
D. Patterson	President	21.2yrs	US$6.63m	0.13% € 10.5m
Jeremy Rakusin	Chief Financial Officer	9.4yrs	US$3.86m	0.52% € 42.9m
Steve Carpenter	Senior Vice President of Technology	2.8yrs	US$2.17m	no data
Alex Nguyen	Senior Vice President of Strategy & Corporate Development	9.4yrs	US$2.61m	no data
Douglas Cooke	Senior VP	9.4yrs	US$2.61m	0.58% € 48.1m
Sarah Alberts	Director of Marketing & Communications of FirstService Residential Ontario	no data	no data	no data
Patrick Tran	Senior Vice President of Tax	1.8yrs	no data	no data
Charlie Chase	CEO & President of FirstService Brands	14.8yrs	no data	no data
David Diestel	Chief Executive Officer of FirstService Residential	3.3yrs	no data	no data

9.4yrs

Average Tenure

59yo

Average Age

Experienced Management: 1GIA's management team is seasoned and experienced (9.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Jay Hennick	Founder & Independent Chairman of the Board	9.4yrs	US$308.50k	5.94% € 493.3m
D. Patterson	President	9.4yrs	US$6.63m	0.13% € 10.5m
Frederick Reichheld	Independent Director	9.4yrs	US$535.75k	0.056% € 4.6m
Yousry Bissada	Independent Director	2.6yrs	US$543.75k	0.0015% € 123.0k
Steve Grimshaw	Independent Director	3.5yrs	US$540.50k	no data
Elizabeth Carducci	Independent Director	2.4yrs	US$542.75k	0.0022% € 184.5k
Erin Wallace	Independent Director	9.1yrs	US$542.75k	0.045% € 3.8m
Joan Sproul	Independent Director	6.5yrs	US$568.25k	0.0055% € 460.3k

7.8yrs

Average Tenure

64yo

Average Age

Experienced Board: 1GIA's board of directors are considered experienced (7.8 years average tenure).

FirstService Management

Management criteria checks 2/4

Key information

Recent management updates

Senior VP recently sold €3.7m worth of stock

Key Executive recently sold €20m worth of stock

Key Executive recently sold €38m worth of stock

Independent Director recently sold €562k worth of stock

CEO & Non-Independent Director recently sold €1.3m worth of stock

Senior VP recently sold €824k worth of stock

Recent updates

Senior VP recently sold €3.7m worth of stock

Third quarter 2024 earnings released: EPS: US$1.34 (vs US$0.73 in 3Q 2023)

FirstService Corporation to Report Q3, 2024 Results on Oct 24, 2024

Key Executive recently sold €20m worth of stock

Second quarter dividend of US$0.25 announced

FirstService Corporation Declares Quarterly Cash Dividend, Payable on October 7, 2024

Key Executive recently sold €38m worth of stock

Second quarter 2024 earnings released: EPS: US$0.78 (vs US$1.02 in 2Q 2023)

Now 22% overvalued after recent price rise

FirstService Corporation to Report Q2, 2024 Results on Jul 25, 2024

Independent Director recently sold €562k worth of stock

Upcoming dividend of US$0.25 per share

FirstService Corporation (TSX:FSV) acquired Citiscape Property Management Group Llc.

First quarter dividend of US$0.25 announced

FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on July 5, 2024

First quarter 2024 earnings released: EPS: US$0.14 (vs US$0.36 in 1Q 2023)

CEO & Non-Independent Director recently sold €1.3m worth of stock

FirstService Corporation to Report Q1, 2024 Results on Apr 24, 2024

Upcoming dividend of US$0.25 per share

Senior VP recently sold €824k worth of stock

Insider recently bought €1.1m worth of stock

Full year 2023 earnings released: EPS: US$2.25 (vs US$2.74 in FY 2022)

Senior VP recently sold €1.6m worth of stock

Insider recently bought €2.9m worth of stock

Third quarter dividend of US$0.25 announced

FirstService Corporation, Annual General Meeting, Apr 03, 2024

FirstService Corporation Declares Quarterly Dividend, Payable on Payable on April 5, 2024

FirstService Corporation to Report Q4, 2023 Results on Feb 06, 2024

Chief Financial Officer recently sold €1.4m worth of stock

Upcoming dividend of US$0.23 per share at 0.5% yield

FirstService Corporation (TSX:FSV) acquired Roofing Corporation of America, LLC from Soundcore Capital Partners, LP for approximately $410 million.

FirstService Corporation Declares Quarterly Cash Dividend, Payable on January 5, 2024

Independent Director recently sold €818k worth of stock

Independent Director recently sold €268k worth of stock

Third quarter 2023 earnings released: EPS: US$0.73 (vs US$0.77 in 3Q 2022)

FirstService Corporation to Report Q3, 2023 Results on Oct 26, 2023

Upcoming dividend of US$0.23 per share at 0.6% yield

FirstService Corporation Declares Quarterly Cash Dividend, Payable on October 6, 2023

Chief Financial Officer recently sold €563k worth of stock

Now 20% undervalued

Second quarter 2023 earnings released: EPS: US$1.02 (vs US$0.78 in 2Q 2022)

FirstService Corporation to Report Q2, 2023 Results on Jul 27, 2023

Insider recently sold €2.1m worth of stock

Upcoming dividend of US$0.23 per share at 0.6% yield

Independent Director recently sold €488k worth of stock

Firstservice Corporation Declares Quarterly Dividend, Payable on July 7, 2023

First quarter 2023 earnings released: EPS: US$0.36 (vs US$0.32 in 1Q 2022)

Upcoming dividend of US$0.23 per share at 0.7% yield

Chief Financial Officer recently sold €1.3m worth of stock

Independent Director recently sold €196k worth of stock

Senior VP recently sold €1.3m worth of stock

Full year 2022 earnings released: EPS: US$2.74 (vs US$3.08 in FY 2021)

FirstService Corporation Declares Quarterly Cash Dividend, Payable on April 11, 2023

FirstService Corporation to Report Q4, 2022 Results on Feb 07, 2023

Upcoming dividend of US$0.20 per share

FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on January 6, 2023

Independent Director recently sold €149k worth of stock

FirstService Corporation Provides Consolidated Revenue Guidance for the Fourth Quarter of 2022

Third quarter 2022 earnings released: EPS: US$0.77 (vs US$1.04 in 3Q 2021)

FirstService Corporation (TSX:FSV) acquired Certain Assets of Paul Davis Lincoln.

FirstService Corporation to Report Q3, 2022 Results on Oct 26, 2022

Upcoming dividend of US$0.20 per share

FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on October 7, 2022

Senior VP recently sold €388k worth of stock

Chief Financial Officer recently sold €729k worth of stock

President recently sold €6.5m worth of stock

Second quarter 2022 earnings released: EPS: US$0.78 (vs US$0.84 in 2Q 2021)

FirstService Corporation to Report Q2, 2022 Results on Jul 27, 2022

FirstService Corporation Announces the Appointment of Elizabeth Carducci to Its Board of Directors