Joseph H. Mongrain
Equibles does not estimate personal net worth.
About Joseph H. Mongrain
The proxy statement of Weatherford International plc reports total compensation of $1,715,763 for Joseph H. Mongrain in fiscal 2023, including a base salary of $410,000. Disclosed compensation is on record for 3 fiscal years.
Affiliation history
-
Weatherford International plc (WFRD)
Proxy statement
Start not stated–2024-04-24
Last confirmed by a filing; no departure on record
Company network
Executive compensation
Compensation components disclosed in company proxy statements. Amounts are nominal USD; total is the company-reported figure.
| Fiscal year | Company | Role | Salary | Total |
|---|---|---|---|---|
| 2023 | Weatherford International plc (WFRD) | Executive Vice President and Chief People Officer Mr. Mitra was appointed as our Executive Vice President and Chief Financial Officer effective January 3, 2023. Mr. Mills also served as our interim Chief Financial Officer from August 1, 2022 until January 2, 2023. Mr. Davison departed the Company effective February 6, 2024. Mr. Mongrain departed the Company effective February 6, 2024. Mr. Mitra received a cash sign-on bonus of 410,000 in connection with his joining the Company in 2023. For the 2023 fiscal year, in accordance with FASB ASC Topic 718, the grant date fair value of RSU awards and the portion of PSU awards subject to metrics defined solely by reference to our own operations was determined based on the closing price of our shares on the date of grant. The portion of PSU awards subject to the market performance of our shares was determined using a Monte Carlo simulation model. Because a portion of the PSU awards were based on achieving certain strategic initiative metrics that were communicated to the NEOs and have been monitored by our Compensation Committee, but for which specific targets for achievement are ultimately subject to discretion by the Compensation Committee, a FASB ASC Topic 718 grant date was not established. For such portions of the PSU awards, the fair value was determined using the closing price of our shares on the service inception date in accordance with the Compliance and Disclosure Interpretation 119.24 promulgated by the SEC. In the Summary Compensation Table, the fair value of PSUs with performance condition based on the market performance of our shares (“market condition”) incorporates the likelihood of achieving the market condition. However, there is not market data to determine whether PSUs with a performance condition defined solely by reference to our own operations (“performance condition”) will be achieved. For PSUs with a performance condition, we have assessed the likelihood that these PSUs will payout based upon target achievement. The table below shows the hypothetical grant date fair value of awards assuming the highest level of performance (maximum) is achieved. | $410,000 | $1,715,763 |
| 2022 | Weatherford International plc (WFRD) | Executive Vice President and Chief People Officer Mr. Mitra was appointed as our Executive Vice President and Chief Financial Officer effective January 3, 2023. Mr. Mills also served as our interim Chief Financial Officer from August 1, 2022 until January 2, 2023. Mr. Davison departed the Company effective February 6, 2024. Mr. Mongrain departed the Company effective February 6, 2024. Mr. Mitra received a cash sign-on bonus of 410,000 in connection with his joining the Company in 2023. For the 2023 fiscal year, in accordance with FASB ASC Topic 718, the grant date fair value of RSU awards and the portion of PSU awards subject to metrics defined solely by reference to our own operations was determined based on the closing price of our shares on the date of grant. The portion of PSU awards subject to the market performance of our shares was determined using a Monte Carlo simulation model. Because a portion of the PSU awards were based on achieving certain strategic initiative metrics that were communicated to the NEOs and have been monitored by our Compensation Committee, but for which specific targets for achievement are ultimately subject to discretion by the Compensation Committee, a FASB ASC Topic 718 grant date was not established. For such portions of the PSU awards, the fair value was determined using the closing price of our shares on the service inception date in accordance with the Compliance and Disclosure Interpretation 119.24 promulgated by the SEC. In the Summary Compensation Table, the fair value of PSUs with performance condition based on the market performance of our shares (“market condition”) incorporates the likelihood of achieving the market condition. However, there is not market data to determine whether PSUs with a performance condition defined solely by reference to our own operations (“performance condition”) will be achieved. For PSUs with a performance condition, we have assessed the likelihood that these PSUs will payout based upon target achievement. The table below shows the hypothetical grant date fair value of awards assuming the highest level of performance (maximum) is achieved. | $390,000 | $1,521,990 |
| 2021 | Weatherford International plc (WFRD) | Executive Vice President and Chief People Officer Mr. Mitra was appointed as our Executive Vice President and Chief Financial Officer effective January 3, 2023. Mr. Mills also served as our interim Chief Financial Officer from August 1, 2022 until January 2, 2023. Mr. Davison departed the Company effective February 6, 2024. Mr. Mongrain departed the Company effective February 6, 2024. Mr. Mitra received a cash sign-on bonus of 410,000 in connection with his joining the Company in 2023. For the 2023 fiscal year, in accordance with FASB ASC Topic 718, the grant date fair value of RSU awards and the portion of PSU awards subject to metrics defined solely by reference to our own operations was determined based on the closing price of our shares on the date of grant. The portion of PSU awards subject to the market performance of our shares was determined using a Monte Carlo simulation model. Because a portion of the PSU awards were based on achieving certain strategic initiative metrics that were communicated to the NEOs and have been monitored by our Compensation Committee, but for which specific targets for achievement are ultimately subject to discretion by the Compensation Committee, a FASB ASC Topic 718 grant date was not established. For such portions of the PSU awards, the fair value was determined using the closing price of our shares on the service inception date in accordance with the Compliance and Disclosure Interpretation 119.24 promulgated by the SEC. In the Summary Compensation Table, the fair value of PSUs with performance condition based on the market performance of our shares (“market condition”) incorporates the likelihood of achieving the market condition. However, there is not market data to determine whether PSUs with a performance condition defined solely by reference to our own operations (“performance condition”) will be achieved. For PSUs with a performance condition, we have assessed the likelihood that these PSUs will payout based upon target achievement. The table below shows the hypothetical grant date fair value of awards assuming the highest level of performance (maximum) is achieved. | $291,111 | $2,260,368 |
Recent activity
No call appearances or filed executive changes recorded yet.