Ingersoll Rand Inc. (NYSE: IR) announced on October 27, 2026, an amended and restated employment agreement for Chairman and Chief Executive Officer Vicente Reynal, extending his tenure through February 29, 2032. The agreement, which amends his prior contract dated September 1, 2022, increases his annual base salary to $1,200,000 and maintains a target annual bonus of 150% of that salary. The Board of Directors approved the extension to reinforce confidence in the company's long-term direction and to motivate continued financial outperformance.
The new compensation package includes a performance-based leadership equity incentive award valued at approximately $17.1 million. This award consists of two primary components: 226,098 Performance Stock Units (PSUs) and conditional annual stock options. The PSUs are scheduled to be granted on November 23, 2026, and will vest based on the company achieving a five-year compounded annual growth rate (CAGR) of 10% in Adjusted EPS, subject to an adjustment based on Return on Invested Capital (ROIC). The stock options are tied to annual Adjusted EPS growth targets of 9% or greater, with the number of shares granted ranging from 50,000 to 100,000 per fiscal year.
Separately, the company announced leadership changes effective immediately. Senior Vice President Michael Weatherred, who leads the Precision and Science Technologies segment and Demand Generation and Execution, is retiring. He will support the transition of his responsibilities and serve in an advisory role through May 2028. To support this transition, the company promoted Scott Watson to Senior Vice President and Group President of Industrial Technologies and Services North America and EMEIA, and Shaun Carlson to Senior Vice President and Group President of the Precision and Science Technologies segment. Both new appointments report directly to CEO Reynal.
