American Vanguard Corp Appoints CFO Matthew Horwath

What Happened

• American Vanguard Corporation (AVD) announced on October 1, 2026 that the Board appointed Matthew Horwath (age 43) as Chief Financial Officer, effective October 1, 2026. Mr. Horwath’s recent roles include CFO of Kustom US, Inc. (Jan–Jun 2026) and senior finance roles, most recently CFO, at FARO Technologies (May 2018–Dec 2025).
• The Compensation Committee approved Horwath’s pay package: $450,000 annual base salary; target annual bonus = 60% of base; relocation bonus of $6,667/month and travel allowance of $10,000/month (each paid over 15 months); equity awards of an option to purchase 150,000 shares and 100,000 restricted shares, each vesting evenly over three years.
• Concurrently, David Johnson ceased serving as CFO and was named Chief Accounting Officer. He will serve as CFO through the month AVD files its 2026 Form 10-K (expected March 2027) and remain employed in a non‑executive role through September 30, 2027 with a monthly base salary of $20,834. His transition agreement provides for severance protections under the company’s Executive Severance Plan if his employment ends under specified conditions.

Key Details

• Effective date: October 1, 2026 (appointment and press release).
• Horwath compensation: $450,000 base; 60% target bonus; 150,000 option + 100,000 restricted shares vesting over 3 years; relocation and travel allowances paid over 15 months.
• Johnson transition: continued service through Form 10‑K filing month (expected March 2027), employment through Sept 30, 2027 at $20,834/month; possible severance = 1.5x(sum of his base salary as of Effective Date + average annual cash incentive for prior 3 years), plus 18 months health continuation, accelerated equity vesting (performance awards at target), and up to $10,000 outplacement.

Why It Matters

• Leadership continuity and financial experience: AVD has named an experienced finance executive with systems, M&A and capital markets experience, which may impact financial reporting, strategy and potential transactions.
• Compensation and alignment: Significant equity grants (options + restricted shares) align the new CFO with shareholder performance but may cause future share dilution when vested/exercised.
• Cash and contractual obligations: The transition arrangement for the outgoing CFO creates potential future cash and benefit obligations (severance, health continuation, accelerated equity vesting) that investors should note when assessing near‑term cash flow and governance continuity.
• The appointment was disclosed via a company press release (Regulation FD).