Velarion · Company Intelligence
Compensation Brief
Fiscal year 2022 · Filings through 2026-05-22

Casa Systems (CASA)

Fiscal year 2022 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$4,542,850
Jerry Guo total, FY2022
38th
CEO pay percentile vs peers
51:1
CEO-to-median pay ratio
76.12%
Say-on-pay support, latest vote
Companies that benchmark against CASA
4 companies name CASA as a compensation peer

Each company listed discloses CASA 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 CASA in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2022

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jerry Guo$733,048$0$3,800,652$0$0$0$9,150$4,542,850
President, Chief Executive Officer and Director
Lucy Xie463,49701,699,129165,40200936,1503,264,178
Senior Vice President of Operations and Director
Weidong Chen463,49701,158,750308,000009,1501,939,397
Chief Technical 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 officerFY2022 totalFY2021 totalFY2020 totalΔ FY20212022
Jerry Guo$4,542,850$6,169,044−1,626,194
Lucy Xie3,264,1782,288,533+975,645
Weidong Chen1,939,3971,850,416+88,981

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2022

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jerry GuoOTHER$3,800,652
Weidong ChenOTHER1,158,750
Lucy XieOTHER1,699,129
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2022

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Weidong ChenOption200,0003.6
Weidong ChenRSU22,55061,562
Lucy XiePSU128,750351,488
Weidong ChenRSU321,875878,719
Weidong ChenRSU106,606291,034
Jerry GuoRSU90,549247,199
Lucy XieRSU71,901196,290
Weidong ChenRSU71,901196,290
Lucy XieRSU31,57086,186
Weidong ChenPSU23,96765,430
Jerry GuoRSU178,370486,950
Lucy XieRSU321,875878,719
Jerry GuoPSU320,809875,809
Jerry GuoPSU407,2491,111,790
Jerry GuoRSU120,303328,427
Lucy XieRSU106,606291,034
Jerry GuoRSU509,0611,389,737
Lucy XiePSU71,901196,290
Jerry GuoPSU309,739845,587
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation philosophy is driven by the following objectives: Align with Performance—We seek to incorporate variability into our compensation program such that compensation will reflect corporate and individual achievement relative to our strategic objectives. Align with Stockholder Interests—We seek to structure compensation and incentives, particularly with respect to equity award grants, so as to create alignment with stockholder interests. Attract, Motivate and Retain Talent—We seek to offer compensation that will attract exceptional employment candidates, incentivize and reward outstanding employee performance, and offer total compensation that is competitive with the market. Align with Company Culture—We seek to structure compensation and incentives to align employee behavior with our core values.

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantPearl Meyer & Partners, LLC
Clawback policyFalse
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20232023-05-1842,127,73813,216,630384,84976.12%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 yearMeeting dateApproval — company's computation
20232023-05-1876.12%a

a. Approved under the standard stated in the filing — “Abstentions will not be counted as shares voting on any of the other proposals.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)51 : 1
CEO total compensation$4,542,850
Median employee compensation$89,223
08

Director compensation — fiscal year 2022

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Susana D'EmicIndependent · Audit (Chair) · Nominating & Corporate Governance$80,959$170,000$0$0$0$250,959
Bill StyslingerIndependent · Compensation (Chair) · Nominating & Corporate Governance72,000170,000000242,000
Daniel S. MeadIndependent · Audit · Compensation68,459170,000000238,459
Michael T. HayashiIndependent · Audit · Compensation67,500170,000000237,500
Lucy XieNot independent · Not standing for re-election000000
Jerry GuoNot independent000000
Bruce EvansIndependent · Board Chair · Nominating & Corporate Governance (Chair)000000
Scott BrucknerIndependent · Newly elected000000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$170,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 17,000 / 10,000
Stock ownership guideline4x annual base cash retainer (non-employee directors)
09b

Total cost of the board

ComponentFY2022
Cash retainers and fees$288,918
Equity awards (grant-date value)$680,000
All other compensation$0
Total cost of the board$968,918

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2022

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Casa Systems names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Casa Systems.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1HubSpot, Inc.2025Yamini Rangan$700,000$18,675,770$0$745,850$20,126,620
2Ribbon Communications Inc.2025Bruce McClelland750,00016,370,8200225,18817,457,675
3Inseego Corp.2025Juho Sarvikas480,7694,578,3116,685,850011,988,776
4SPS Commerce, Inc.2025Chad Collins609,65810,789,7040011,410,244
5Calix, Inc.2025Michael Weening560,00009,227,8291,023,34910,820,080
6Viavi Solutions Inc.2025Oleg Khaykin900,0009,114,2770576,56210,595,839
7NETGEAR, Inc.2025Charles Prober767,7408,603,20501,181,73110,555,676
8InterDigital, Inc.2025Liren Chen750,3843,999,9991,333,3331,691,0007,847,557
9ADTRAN, Inc.2025Thomas Stanton1,022,6853,763,04102,884,0007,683,726
10Infinera Corporation2023David Heard729,0005,137,5000791,1636,663,648
11Harmonic Inc.2025Nimrod Ben-Natan609,0004,927,5620570,0006,163,092
12Digi International Inc.2025Ronald Konezny583,8463,454,3240949,1795,002,124
13Upland Software, Inc.2025John McDonald500,0004,235,000004,774,820
14Casa Systems2022Jerry Guo733,0483,800,652004,542,850
15FARO Technologies, Inc.2024Peter Lau600,0002,956,7950438,0004,008,421
16Aviat Networks, Inc.2025Peter A. Smith650,0003,111,023003,772,051
17Cambium Networks Corporation2025Morgan Kurk500,000000503,846

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Casa Systems0%PSU 60 · RSU 40NoPearl Meyer & Partners, LLC
ADTRAN, Inc.200%RSU 57 · PSU 43NoPay Governance LLC
Aviat Networks, Inc.not disclosedPSU 50 · RSU 50Yes — TSRCompensia
Calix, Inc.108%Options 100NoCompensia
Cambium Networks Corporationnot disclosednot disclosednot disclosednot disclosed
Digi International Inc.147%RSU 50 · PSU 50Yes — TSR vs Russell 2000 IndexRadford Consulting (AON)
FARO Technologies, Inc.73%PSU 60 · RSU 40Yes — Relative Total Shareholder Return (TSR) compared to Russell 2000 IndexCompensia
Harmonic Inc.95%RSU 50 · PSU 50Yes — Total Stockholder Return (TSR)Exequity
HubSpot, Inc.107%RSU 50 · PSU 50NoCompensia, Inc.
Infinera Corporation83.5%PSU 55 · RSU 45NoCompensia
Inseego Corp.not disclosednot disclosednot disclosednot disclosed
InterDigital, Inc.178%Options 33NoFW Cook
NETGEAR, Inc.128%PSU 50 · RSU 50Yes — Relative TSR RankFW Cook
Ribbon Communications Inc.30%PSU 50 · RSU 50Yes — Relative TSRFW Cook
SPS Commerce, Inc.not disclosedRSU 50 · PSU 50Yes — relative TSR performance against the Russell 2000 IndexCompensia
Upland Software, Inc.not disclosednot disclosedYes — Absolute TSRKorn Ferry
Viavi Solutions Inc.51.2%RSU 40Yes — Total Shareholder Return (TSR) relative to Nasdaq Telecommunications IndexCompensia, Inc.

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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jerry GuoDEF 14A2023-04-060000950170-23-012028Section “Summary Compensation Table” · page 31. As printed: 4,542,850. Filing ↗machine: t34 · r2 · c23 · span 808632–808641
2Section 01, Lucy XieDEF 14A2023-04-060000950170-23-012028Section “Summary Compensation Table” · page 31. As printed: 3,264,178. Filing ↗machine: t34 · r5 · c23 · span 837693–837702
3Section 01, Weidong ChenDEF 14A2023-04-060000950170-23-012028Section “Summary Compensation Table” · page 31. As printed: 1,939,397. Filing ↗machine: t34 · r8 · c23 · span 866224–866233
4Section 03, Jerry Guo OTHERDEF 14A2023-04-060000950170-23-012028Section “PROPOSAONE ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t34 · r2 · c7 · span 802214–802223
5Section 03, Weidong Chen OTHERDEF 14A2023-04-060000950170-23-012028Section “PROPOSAONE ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t34 · r8 · c7 · span 859807–859816
6Section 03, Lucy Xie OTHERDEF 14A2023-04-060000950170-23-012028Section “PROPOSAONE ELECTION OF DIRECTORS” · grants of plan-based awards table. Filing ↗machine: t34 · r5 · c7 · span 830977–830986
7Section 07, pay ratioDEF 14A2023-04-060000950170-23-012028Section “CEO Pay Ratio”. As printed: 51 : 1. Filing ↗machine: span 1213282–1213284
8Section 08, Susana D'EmicDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 250,959. Filing ↗machine: t41 · r2 · c11 · span 1418705–1418712
9Section 08, Bill StyslingerDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 242,000. Filing ↗machine: t41 · r6 · c11 · span 1440667–1440674
10Section 08, Daniel S. MeadDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 238,459. Filing ↗machine: t41 · r5 · c11 · span 1435211–1435218
11Section 08, Michael T. HayashiDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 237,500. Filing ↗machine: t41 · r4 · c11 · span 1429756–1429763
12Section 08, Lucy XieDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 0. Filing ↗
13Section 08, Jerry GuoDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Bruce EvansDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 0. Filing ↗machine: t41 · r3 · c11 · span 1423997–1424000
15Section 08, Scott BrucknerDEF 14A2023-04-060000950170-23-012028Section “Director Compensation”. As printed: 0. Filing ↗
16Section 06, 2023 voteForm 8-K2023-05-180000950170-23-023043Item 5.07 · say-on-pay result. As reported: 76.12% (votes for as printed: 42,127,738). Filing ↗
17Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
18Section 09b board cost (computed)ComputedcomputedCash 288,918 + equity 680,000 + all other 0 = 968,918, summed across the director compensation table rows.machine: formula: Σ = 968,918
19HubSpot, Inc., Section 10b CEO totalDEF 14A2026-04-270001193125-26-182210CEO total compensation as printed in HubSpot, Inc.'s own proxy. As printed: 20,126,620. Filing ↗machine: t36 · r5 · c24 · span 1257666–1257676
20Ribbon Communications Inc., Section 10b CEO totalDEF 14A2026-04-170001104659-26-044643CEO total compensation as printed in Ribbon Communications Inc.'s own proxy. As printed: 17,457,675. Filing ↗machine: t160 · r1 · c42 · span 1626864–1626874
21Inseego Corp., Section 10b CEO totalDEF 14A2026-04-230001683168-26-003150CEO total compensation as printed in Inseego Corp.'s own proxy. As printed: 11,988,776. Filing ↗machine: r1 · c25 · span 232920–232930
22SPS Commerce, Inc., Section 10b CEO totalDEF 14A2026-04-140001092699-26-000029CEO total compensation as printed in SPS Commerce, Inc.'s own proxy. As printed: 11,410,244. Filing ↗machine: r2 · c42 · span 913548–913558
23Calix, Inc., Section 10b CEO totalDEF 14A2026-03-270001406666-26-000006CEO total compensation as printed in Calix, Inc.'s own proxy. As printed: 10,820,080. Filing ↗machine: r2 · c42 · span 648399–648409
24Viavi Solutions Inc., Section 10b CEO totalDEF 14A2025-10-030001628280-25-043990CEO total compensation as printed in Viavi Solutions Inc.'s own proxy. As printed: 10,595,839. Filing ↗machine: r2 · c21 · span 1093592–1093602
25NETGEAR, Inc., Section 10b CEO totalDEF 14A2026-04-160001193125-26-159312CEO total compensation as printed in NETGEAR, Inc.'s own proxy. As printed: 10,555,676. Filing ↗machine: t84 · r4 · c27 · span 1491692–1491702
26InterDigital, Inc., Section 10b CEO totalDEF 14A2026-04-300001405495-26-000043CEO total compensation as printed in InterDigital, Inc.'s own proxy. As printed: 7,847,557. Filing ↗machine: t37 · r2 · c14 · span 599524–599533
27ADTRAN, Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-127315CEO total compensation as printed in ADTRAN, Inc.'s own proxy. As printed: 7,683,726. Filing ↗machine: t94 · r5 · c30 · span 1321525–1321534
28Infinera Corporation, Section 10b CEO totalDEF 14A2024-05-170001138639-24-000128CEO total compensation as printed in Infinera Corporation's own proxy. As printed: 6,663,648. Filing ↗machine: r2 · c42 · span 746411–746420
29Harmonic Inc., Section 10b CEO totalDEF 14A2026-04-240001140361-26-016701CEO total compensation as printed in Harmonic Inc.'s own proxy. As printed: 6,163,092. Filing ↗machine: t189 · r3 · c19 · span 1385331–1385341
30Digi International Inc., Section 10b CEO totalDEF 14A2025-12-170001104659-25-122033CEO total compensation as printed in Digi International Inc.'s own proxy. As printed: 5,002,124. Filing ↗machine: r1 · c6 · span 312252–312261
31Upland Software, Inc., Section 10b CEO totalDEF 14A2026-04-200001505155-26-000022CEO total compensation as printed in Upland Software, Inc.'s own proxy. As printed: 4,774,820. Filing ↗machine: span 341914–341923
32Casa Systems (subject), Section 10b CEO totalDEF 14A2023-04-060000950170-23-012028CEO total compensation as printed in Casa Systems's own proxy. As printed: 4,542,850. Filing ↗machine: t34 · r2 · c23 · span 808632–808641
33FARO Technologies, Inc., Section 10b CEO totalDEF 14A2025-04-100001628280-25-017330CEO total compensation as printed in FARO Technologies, Inc.'s own proxy. As printed: 4,008,421. Filing ↗machine: r2 · c39 · span 542687–542696
34Aviat Networks, Inc., Section 10b CEO totalDEF 14A2025-09-230001140361-25-035861CEO total compensation as printed in Aviat Networks, Inc.'s own proxy. As printed: 3,772,051. Filing ↗machine: t102 · r2 · c21 · span 465516–465525
35Cambium Networks Corporation, Section 10b CEO totalDEF 14A2026-05-220001193125-26-236836CEO total compensation as printed in Cambium Networks Corporation's own proxy. As printed: 503,846. Filing ↗machine: t10 · r2 · c29 · span 558880–558887
36Section 10a, Infinera Corporation reciprocityDEF 14A0001138639-24-000128Infinera Corporation's most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
37Section 10a, Calix, Inc. reciprocityDEF 14A0001406666-26-000006Calix, Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
38Section 10a, HubSpot, Inc. reciprocityDEF 14A0001193125-26-182210HubSpot, Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
39Section 10a, Aviat Networks, Inc. reciprocityDEF 14A0001140361-25-035861Aviat Networks, Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
40Section 10a, SPS Commerce, Inc. reciprocityDEF 14A0001092699-26-000029SPS Commerce, Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
41Section 10a, FARO Technologies, Inc. reciprocityDEF 14A0001628280-25-017330FARO Technologies, Inc. names Casa Systems in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Harmonic Inc. reciprocityDEF 14A0001140361-26-016701Harmonic Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
43Section 10a, NETGEAR, Inc. reciprocityDEF 14A0001193125-26-159312NETGEAR, Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
44Section 10a, Digi International Inc. reciprocityDEF 14A0001104659-25-122033Digi International Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
45Section 10a, InterDigital, Inc. reciprocityDEF 14A0001405495-26-000043InterDigital, Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗
46Section 10a, ADTRAN, Inc. reciprocityDEF 14A0001193125-26-127315ADTRAN, Inc. names Casa Systems in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Ribbon Communications Inc. reciprocityDEF 14A0001104659-26-044643Ribbon Communications Inc.'s most recent proxy was read; its disclosed peer group does not include Casa Systems. Filing ↗