How Merwe was paid
$4M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Jaco G. van der MerweChief Executive Officer | $836,539 | $2,244,370 | $779,455 | $170,367 | $4,030,731 |
| Brian HarrisChief Financial Officer | $550,000 | $769,125 | $353,047 | $75,650 | $1,747,822 |
| Barend SnymanGroup President | $460,692 | $499,941 | $255,844 | $40,026 | $1,256,503 |
| Michael P. NorrisGroup President | $437,962 | $384,577 | $243,190 | $94,091 | $1,159,820 |
| Terrell GilbertGeneral Counsel, Chief Compliance Officer and Corporate Secretary | $411,692 | $384,577 | $190,737 | $31,506 | $1,018,512 |
What changed and why
- 97%Over 97% of shares voted were cast to approve the executive compensation package at the previous meeting.
- $4MTotal compensation for CEO Jaco G. van der Merwe increased to $4,030,731 in 2025.
- Annual cash incentives reward achievement of Adjusted EBITDA and working capital turnover goals.
- Performance-based long-term incentives depend on Adjusted ROIC and relative TSR over a three-year period.
- Independent compensation consultant FW Cook advised the Compensation Committee on program design and benchmarking.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.