Northwest Pipe Company Approves 2025 Performance-Based Cash Incentive Program

Northwest Pipe Company (NASDAQ: NWPX) recently announced the approval of its performance-based cash incentive program for the fiscal year 2025. The decision was made by the Compensation Committee of the Board of Directors on December 10, 2024.

The performance goals for the 2025 Short Term Incentive Plan (STI) at Northwest Pipe will be tied to the Company’s income before income taxes, free cash flow, and safety performance for the upcoming year. Each Named Executive Officer stands to potentially earn a bonus based on the Company’s achievement of these performance objectives.

In the approved plan, the bonus amounts were outlined for the key executives. For the Chief Executive Officer, the bonus ranges from 0% to 200% of his 2025 base salary, with a target bonus amount set at 100% of the base salary for that year. The Chief Financial Officer and the Executive Vice President have a bonus range of 0% to 120% of their 2025 base salary, with their target bonus at 60% of the base salary. Other Named Executive Officers will have bonus amounts ranging from 0% to 100% of their base salary, with a target bonus amount set at 50% of their 2025 base salary.

Northwest Pipe’s commitment to linking executive compensation to key performance indicators underscores the Company’s focus on driving results and shareholder value. The Company remains dedicated to rewarding executives based on the successful execution of strategic objectives for the fiscal year 2025.

No further details were provided in the Form 8-K filing regarding the financial impact of the incentive program approval. For more information and updates, investors and stakeholders are encouraged to refer to the official disclosures issued by Northwest Pipe Company as appropriate.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Northwest Pipe’s 8K filing here.

About Northwest Pipe

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.