Companies Enovix Corp
Enovix (ENVX): executive pay, fiscal 2025
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CEO pay, last three years
- $11,452,248FY2024
- $7,996,489FY2025
CEO total pay was $7,996,489 in fiscal 2025, down from $11,452,248 in fiscal 2024.
FY2025: salary $617,505 · bonus $0 · stock awards $6,999,998 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Raj Talluri | $617,505 | $0 | $6,999,998 | $0 | $375,422 | $0 | $3,564 | $7,996,489 |
| President and Chief Executive Officer | ||||||||
| Ryan Benton | 301,042 | 0 | 4,500,000 | 0 | 96,740 | 0 | 1,518 | 4,899,299 |
| Chief Financial Officer | ||||||||
| Ajay Marathe | 473,929 | 0 | 3,999,983 | 0 | 216,078 | 0 | 3,977 | 4,693,967 |
| Former Chief Operating Officer | ||||||||
| Arthi Chakravarthy | 365,308 | — | 1,499,993 | 0 | 145,845 | 0 | 810 | 2,011,955 |
| Chief Legal Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Raj Talluri | $7,996,489 | $11,452,248 | — | ↓ −3,455,759 |
| Ryan Benton | 4,899,299 | — | — | — |
| Ajay Marathe | 4,693,967 | 4,240,760 | 585,208 | ↑ +453,207 |
| Arthi Chakravarthy | 2,011,955 | 2,990,192 | — | ↓ −978,237 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Our current executive compensation program is intended to align executive compensation with our business objectives and to enable us to attract, retain and reward executive officers who contribute to our long-term success. We seek to accomplish this goal in a way that is aligned with the long-term interests of our stockholders.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Compensia, Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Ajay Marathe | PSU | 2025-04-11 | — | 134,408 | — | 268,816 | $999,996 |
| Arthi Chakravarthy | PSU | 2025-04-11 | — | 100,806 | — | 201,612 | 749,997 |
| Arthi Chakravarthy | RSU | 2025-04-11 | — | — | 100,806 | — | 749,997 |
| Ryan Benton | RSU | 2025-04-14 | — | — | 748,752 | — | 4,500,000 |
| Ajay Marathe | RSU | 2025-01-06 | — | — | 160,513 | — | 1,999,992 |
| Raj Talluri | PSU | 2025-04-01 | — | 470,430 | — | 940,860 | 3,499,999 |
| Ajay Marathe | RSU | 2025-04-01 | — | 134,408 | — | 268,816 | 999,996 |
| Raj Talluri | RSU | 2025-04-01 | — | 470,430 | — | 940,860 | 3,499,999 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Ajay Marathe | $2,999,988 | $999,996 | $0 | 25.0% |
| Arthi Chakravarthy | 749,997 | 749,997 | 0 | 50.0% |
| Ryan Benton | 4,500,000 | 0 | 0 | 0.0% |
| Raj Talluri | 3,499,999 | 3,499,999 | 0 | 50.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Arthi Chakravarthy | RSU | 20,786 | — | $158,597 |
| Arthi Chakravarthy | RSU | 22,326 | — | 170,347 |
| Arthi Chakravarthy | RSU | 28,267 | — | 215,677 |
| Ajay Marathe | RSU | 33,170 | — | 253,087 |
| Arthi Chakravarthy | RSU | 36,174 | — | 276,008 |
| Ajay Marathe | RSU | 45,106 | — | 344,159 |
| Arthi Chakravarthy | RSU | 50,403 | — | 384,575 |
| Arthi Chakravarthy | RSU | 63,430 | — | 483,971 |
| Ajay Marathe | RSU | 67,204 | — | 512,767 |
| Ajay Marathe | RSU | 84,573 | — | 645,292 |
| Arthi Chakravarthy | RSU | 88,205 | — | 673,004 |
| Talluri | RSU | 90,798 | — | 692,789 |
| Talluri | RSU | 95,551 | — | 729,054 |
| Arthi Chakravarthy | RSU | 117,414 | — | 895,869 |
| Ajay Marathe | RSU | 117,607 | — | 897,341 |
| Talluri | RSU | 129,931 | — | 991,374 |
| Ajay Marathe | RSU | 160,513 | — | 1,224,714 |
| Talluri | RSU | 168,813 | — | 1,288,043 |
| Talluri | RSU | 235,215 | — | 1,794,690 |
| Talluri | RSU | 257,949 | — | 1,968,151 |
| Ajay Marathe | RSU | 319,317 | — | 2,436,389 |
| Talluri | RSU | 411,626 | — | 3,140,706 |
| Ryan Benton | RSU | 748,752 | — | 5,712,978 |
| Talluri | RSU | 833,334 | — | 6,358,338 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| J. Daniel McCranieIndependent · Audit · Compensation | $21,491 | $437,395 | — | — | — | $458,886 |
| Thurman John RodgersNot independent · Board Chair | 97,000 | 194,997 | — | — | — | 291,997 |
| Joseph MalchowIndependent · Audit · Compensation · Cybersecurity (Chair) · Nominating and Corporate Governance | 79,167 | 194,997 | — | — | — | 274,164 |
| Gregory ReichowIndependent · Cybersecurity | 73,333 | 194,997 | — | — | — | 268,330 |
| Bernard GutmannIndependent · Audit (Chair) | 72,000 | 194,997 | — | — | — | 266,997 |
| Betsy AtkinsIndependent · Compensation · Cybersecurity · Nominating and Corporate Governance (Chair) | 70,833 | 194,997 | — | — | — | 265,830 |
| Pegah EbrahimiIndependent · Audit · Nominating and Corporate Governance | 65,000 | 194,997 | — | — | — | 259,997 |
| Dr. Raj TalluriEmployee director | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $195,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 22,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $478,824 |
| Equity awards (grant-date value) | $1,607,377 |
| All other compensation | $0 |
| Total cost of the board | $2,086,201 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Enovix as a peer
Companies that benchmark against ENVX
5 companies name ENVX as a compensation peer
- Joby Aviation, Inc.JOBYFY2025
- Microvast Holdings, Inc.MVSTFY2025
- Nano Nuclear Energy Inc.NNEFY2025
- NUSCALE POWER CorpSMRFY2025
- QuantumScape CorpQSFY2025
Each company listed discloses ENVX in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ENVX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
The companies Enovix Corp names as compensation peers that name it back in their own disclosed peer groups.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | IonQ | 2025 | Niccolo de Masi | $501,705 | $88,287,225 | $0 | $772,625 | $89,581,725 |
| 2 | Credo Technology Group | 2026 | William Brennan | 650,000 | 12,641,000 | 0 | 1,137,500 | 14,428,500 |
| 3 | SiTime | 2025 | Rajesh Vashist | 850,000 | 11,456,637 | 0 | 1,700,000 | 14,261,046 |
| 4 | Wolfspeed | 2026 | Robert Feurle | 750,000 | 10,929,645 | 0 | 0 | 12,496,953 |
| 5 | Rambus | 2025 | Luc Seraphin | 726,250 | 7,898,072 | 0 | 869,652 | 9,507,546 |
| 6 | QuantumScape | 2025 | Siva Sivaram | 821,538 | 7,547,987 | 0 | 0 | 8,377,033 |
| 7 | Semtech | 2026 | Hong Hou | 692,350 | 6,582,343 | 0 | 875,063 | 8,177,250 |
| 8 | Enovix Corp | 2025 | Raj Talluri | 617,505 | 6,999,998 | 0 | 375,422 | 7,996,489 |
| 9 | MaxLinear | 2025 | Kishore Seendripu | 721,444 | 7,095,625 | 0 | 0 | 7,817,568 |
| 10 | Ambarella | 2026 | Feng-Ming (Fermi) Wang | 575,000 | 5,933,330 | 0 | 846,000 | 7,354,330 |
| 11 | Impinj | 2025 | Chris Diorio | 449,770 | 6,643,537 | 0 | 0 | 7,108,558 |
| 12 | Shoals Technologies Group | 2025 | Brandon Moss | 791,666 | 4,400,002 | 0 | 699,200 | 5,961,218 |
| 13 | Cohu | 2025 | Luis Müller | 715,000 | 3,508,493 | 0 | 250,345 | 4,498,059 |
| 14 | Amprius Technologies | 2025 | Thomas Stepien | 319,712 | 2,746,000 | 0 | 0 | 3,354,715 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Enovix Corp | not disclosed | RSU 50 · PRSU 50 | not disclosed | Compensia, Inc. |
| Ambarella | 147% | RSU 50 · PSU 50 | Yes — Three-year relative total shareholder return (TSR) | Semler Brossy Consulting Group, LLC |
| Amprius Technologies | 108% of target for Mr. Stepien and Dr. Sun% | RSUs 100 | not disclosed | Compensia |
| Cohu | 31.8% | PSU 60 · RSU 40 | Yes — TSR performance relative to the Russell 2000 Index | Compensia |
| Credo Technology Group | not disclosed | PSU 100 | No | Compensia |
| Impinj | not disclosed | RSU 50 · PSU 50 | Yes — TSR relative to S&P Semiconductor Select Industry Index | Compensia |
| IonQ | 154% | PSU 100 | No | Meridian Compensation Partners LLC |
| MaxLinear | 131% | PSU 50 · RSU 50 | No | Compensia |
| QuantumScape | 100% | PSU 70 · RSU 30 | No | Compensia |
| Rambus | 98.6% | PSU 60 · RSU 40 | Yes — TSR relative to SOX semiconductor index minus Equipment Companies | Farient |
| Semtech | 100% | PSU 50 · RSU 50 | No | Compensia |
| Shoals Technologies Group | 74% | not disclosed | No | Pay Governance |
| SiTime | 200% | PSU 65 · RSU 35 | No | Pearl Meyer |
| Wolfspeed | not disclosed | PSU 60 · RSU 40 | Yes — Relative Total Stockholder Return ("rTSR") | Pearl Meyer & Partners, LLC |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-11 | 72,717,910 | 15,443,577 | 1,289,790 | 82.48% | Passed |
| 2025 | 2025-06-12 | 55,047,452 | 16,563,470 | 583,653 | 76.87% | Passed |
| 2024 | 2024-06-13 | 53,605,774 | 13,838,578 | 544,479 | 79.48% | Passed |
| 2023 | 2023-06-15 | 57,996,678 | 4,642,442 | 286,129 | 92.17% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-11 | 82.48%a |
| 2025 | 2025-06-12 | 76.87%b |
| 2024 | 2024-06-13 | 79.48%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 47 : 1 |
|---|---|
| CEO total compensation | $7,996,489 |
| Median employee compensation | $169,800 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (42 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Raj Talluri. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 55. As printed: 7,996,489. View filing ↗
- Section 01, Ryan Benton. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 55. As printed: 4,899,299. View filing ↗
- Section 01, Ajay Marathe. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 55. As printed: 4,693,967. View filing ↗
- Section 01, Arthi Chakravarthy. DEF 14A, filed 2026-04-24. Section “Executive Compensation Tables” · page 55. As printed: 2,011,955. View filing ↗
- Section 03, Ajay Marathe PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Arthi Chakravarthy PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Arthi Chakravarthy RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Ryan Benton RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Ajay Marathe RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Raj Talluri PSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Ajay Marathe RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Raj Talluri RSU. DEF 14A, filed 2026-04-24. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-24. Section “CEO Pay Ratio”. As printed: 47 : 1. View filing ↗
- Section 08, J. Daniel McCranie. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 458,886. View filing ↗
- Section 08, Thurman John Rodgers. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 291,997. View filing ↗
- Section 08, Joseph Malchow. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 274,164. View filing ↗
- Section 08, Gregory Reichow. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 268,330. View filing ↗
- Section 08, Bernard Gutmann. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 266,997. View filing ↗
- Section 08, Betsy Atkins. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 265,830. View filing ↗
- Section 08, Pegah Ebrahimi. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 259,997. View filing ↗
- Section 08, Dr. Raj Talluri. DEF 14A, filed 2026-04-24. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-12. Item 5.07 · say-on-pay result. As reported: 82.48% (votes for as printed: 72,717,910). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-16. Item 5.07 · say-on-pay result. As reported: 76.87% (votes for as printed: 55,047,452). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-18. Item 5.07 · say-on-pay result. As reported: 79.48% (votes for as printed: 53,605,774). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 478,824 + equity 1,607,377 + all other 0 = 2,086,201, summed across the director compensation table rows.
- IonQ, Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in IonQ's own proxy. As printed: 89,581,725. View filing ↗
- Credo Technology Group, Section 10b CEO total. DEF 14A, filed 2026-08-25. CEO total compensation as printed in Credo Technology Group's own proxy. As printed: 14,428,500. View filing ↗
- SiTime, Section 10b CEO total. DEF 14A, filed 2026-04-15. CEO total compensation as printed in SiTime's own proxy. As printed: 14,261,046. View filing ↗
- Wolfspeed, Section 10b CEO total. DEF 14A, filed 2026-09-11. CEO total compensation as printed in Wolfspeed's own proxy. As printed: 12,496,953. View filing ↗
- Rambus, Section 10b CEO total. DEF 14A, filed 2026-03-06. CEO total compensation as printed in Rambus's own proxy. As printed: 9,507,546. View filing ↗
- QuantumScape, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in QuantumScape's own proxy. As printed: 8,377,033. View filing ↗
- Semtech, Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Semtech's own proxy. As printed: 8,177,250. View filing ↗
- Enovix Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Enovix Corp's own proxy. As printed: 7,996,489. View filing ↗
- MaxLinear, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in MaxLinear's own proxy. As printed: 7,817,568. View filing ↗
- Ambarella, Section 10b CEO total. DEF 14A, filed 2026-05-15. CEO total compensation as printed in Ambarella's own proxy. As printed: 7,354,330. View filing ↗
- Impinj, Section 10b CEO total. DEF 14A, filed 2026-04-16. CEO total compensation as printed in Impinj's own proxy. As printed: 7,108,558. View filing ↗
- Shoals Technologies Group, Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Shoals Technologies Group's own proxy. As printed: 5,961,218. View filing ↗
- Cohu, Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Cohu's own proxy. As printed: 4,498,059. View filing ↗
- Amprius Technologies, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Amprius Technologies's own proxy. As printed: 3,354,715. View filing ↗
- Section 10a, QuantumScape reciprocity. DEF 14A. QuantumScape names Enovix Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗