Vestis Corporation Appoints Russell Tiejema as Executive VP & CFO

What Happened

• Vestis Corporation announced the appointment of Russell Tiejema as Executive Vice President and Chief Financial Officer, effective September 28, 2026 (Employment Agreement dated September 17, 2026). The company also issued a press release the same day reaffirming its fiscal 2026 financial outlook.
• Mr. Tiejema, age 58, has over 30 years of finance and leadership experience, most recently serving as EVP & CFO of US LBM (June 2024–July 2026) and previously as EVP & CFO of Masonite International (Nov 2015–May 2024). He holds an MBA from Indiana University’s Kelley School of Business and a bachelor’s degree from Kettering University.

Key Details

• Initial base salary: $700,000 per year; Target Bonus: 100% of base salary beginning fiscal 2027.
• Annual long-term incentive target (subject to committee approval): $1,750,000 (grant-date value).
• Sign-on Award: $2,500,000 grant-date value (50% RSUs, 50% nonqualified stock options), to be granted at start of fiscal 2027 and vest ratably over three years.
• Termination/Severance highlights: if terminated without cause (or for Good Reason) — salary + Target Bonus paid ratably over 12 months, pro‑rata bonus, 12 months of COBRA premium payments and outplacement up to 10% of base; Qualifying Termination around a Change of Control — lump sum equal to 1.5x (base + Target Bonus), 18 months COBRA lump sum, and other customary payments. Agreement includes restrictive covenants (12‑month post‑employment non‑compete/non‑solicit) and clawback provisions.

Why It Matters

• A seasoned finance executive is taking over Vestis’ financial leadership, which can influence financial planning, reporting and strategic execution. His compensation package includes significant equity awards (annual target and a $2.5M sign‑on award) that align his pay with company performance but may also result in near‑term share‑based compensation expense or dilution when granted and vested.
• The company reaffirmed its fiscal 2026 outlook in the accompanying press release, so this filing signals leadership change without a guidance update. Investors should note the change‑of‑control and severance protections in the agreement as they affect potential future cash or equity payouts tied to certain termination events.