Matrix Service appoints Dominic Savarino as interim CFO

Matrix Service Company (MTRX) has formally offered Dominic A. Savarino the role of Senior Vice President and Chief Financial Officer, an appointment that follows the company's disclosure of officer changes in an 8-K filing. The offer letter, dated October 10, 2026, outlines a compensation package and specific responsibilities that align the new executive with the company's strategic and financial objectives.

Savarino will report directly to Shawn Payne, President and Chief Executive Officer. Due to the timing of the first quarter-end process and the filing of the 10-Q, Savarino will initially hold the title of Senior Vice President, Accounting & Finance. He is expected to be appointed as Senior Vice President & Chief Financial Officer on or around November 6, 2026, immediately following the filing of the 10-Q and the earnings call. The company stated that no other element of the offer will be impacted by the interim title or the subsequent appointment.

The compensation package includes a starting annual base salary of $500,000, paid biweekly in arrears. The position is salaried and exempt from overtime pay. Savarino will participate in the company's incentive compensation plan for Fiscal Year 2027 on a pro-rata basis from his hire date. His target bonus is calculated at 75% of his annual base salary, with a maximum of 150% of base salary, contingent on the company achieving a minimum level of financial performance based on established safety and financial objectives.

Equity compensation consists of an Annual Equity Grant equal to 140% of his annual base salary, determined by the Compensation Committee of the Board of Directors in August. Savarino will be eligible for a full Annual Grant beginning with the August 2027 grant cycle. Additionally, he will receive a special, one-time equity grant valued at $450,000 upon hire. This special grant is split between Restricted Stock Units and Performance Shares.

The Restricted Stock Units portion, representing 50% of the special grant value, consists of time-based units that vest in three annual installments on the anniversary of the grant date. These RSUs are settled with 50% stock-based units and 50% cash-based units. The Performance Shares portion, also representing 50% of the special grant value, is performance-based and will cliff-vest on the third anniversary of the grant date.

In his role, Savarino will lead the accounting and finance organization to align with the company's overall strategic plan. He will serve as a strategic business partner to the CEO and executive team, responsible for developing short- and long-term financial strategies. The CFO will ensure the adequacy and soundness of the company's financial structure and maintain a strong internal control environment. He will also lead budgeting and forecasting processes, review monthly and quarterly financial information, and prepare reports for executive management.

The position involves significant responsibility for mergers and acquisitions strategy. Savarino will work with the CEO to develop M&A strategy aligned with strategic business goals, identifying potential acquisition, merger, partnership, or divestiture targets. He will lead due diligence teams in evaluating potential transactions, assessing strategic fit, market positioning, and alignment with corporate objectives. This includes evaluating financial statements, contracts, risks, liabilities, and integration complexity to identify synergies and revenue enhancement opportunities.

Savarino will also lead financial modeling, valuation analyses, and scenario planning. He will coordinate funding requirements and capital structure considerations. The role requires active participation in investor relations activities, including interfacing with industry analysts and shareholders and representing the company at investor conferences and road shows. He will develop consistent messaging around company strategy and performance, preparing quarterly earnings materials such as press releases and investor presentations.