Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-02

Clearfield (CLFD)

CEO Cheryl Beranek was paid $1,613,404 in fiscal year 2025, ↑ up 1.7% from fiscal year 2024, the 20th percentile of its disclosed peer group (SEC filing 0001171843-26-000288 ↗): 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.

$1,613,404 ↑
Cheryl Beranek total, FY2025
20th
CEO pay percentile vs peers
24:1
CEO-to-median pay ratio
98.12%
Say-on-pay support, latest vote

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CLFD's next annual pay disclosure, estimated January 14, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Cheryl Beranek$460,000$0$999,986$0$131,511$0$21,908$1,613,404
President and Chief Executive Officer
John Hill437,7620999,9860125,153021,8281,584,728
Chief Operating Officer
Daniel Herzog360,4000499,9620103,036017,182980,580
Chief Financial 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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Cheryl Beranek$1,613,404$1,585,703$1,061,862↑ +27,701
John Hill1,584,7281,585,4891,061,764↓ −761
Daniel Herzog980,580967,002666,392↑ +13,578

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

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Companies that benchmark against CLFD
5 companies name CLFD as a compensation peer

The list of companies that name CLFD as a peer is temporarily unavailable — recheck shortly.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Ademir SarcevicIndependent Director$98,522
Carol A. WirsbinskiIndependent Director$129,988
Catherine T. KellyIndependent Director$98,522
Charles N. HayssenChair of the Board$129,988
Donald R. HaywardIndependent Director$129,988
Kathleen S. SkarvanIndependent Director—
Rebecca B. SeidelIndependent Director—
Ronald G. RothChair of the Board$129,988
Walter L. Jones, JrIndependent Director$119,988
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Donald R. HaywardDirector2026-02-19D3,595$32$115,040CommonForm 4 ↗
Ronald G. RothDirector2026-02-27A2,54400CommonForm 4 ↗
Kathleen S. SkarvanDirector2026-02-27A2,54400CommonForm 4 ↗
Ademir SarcevicDirector2026-02-27A2,54400CommonForm 4 ↗
Walter L. Jones, JrDirector2026-02-27A2,54400CommonForm 4 ↗
Carol A. WirsbinskiDirector2026-02-27A2,54400CommonForm 4 ↗
Rebecca B. SeidelDirector2026-02-27A2,54400CommonForm 4 ↗
Catherine T. KellyDirector2026-02-27A2,54400CommonForm 4 ↗
Anis KhemakhemChief Commercial Officer2026-05-06D6353019,228CommonForm 4 ↗
Cheryl BeranekDirector2026-05-08D5,00040201,350CommonForm 4 ↗
Walter L. Jones, JrDirector2026-05-11D2,39146110,106CommonForm 4 ↗
Cheryl BeranekDirector2026-05-11D2,50045112,550CommonForm 4 ↗
Cheryl BeranekDirector2026-05-27D2,50050125,000CommonForm 4 ↗
Cheryl BeranekDirector2026-06-01D7,50047351,900CommonForm 4 ↗
Anis KhemakhemChief Commercial Officer2026-06-09D1,6844067,192CommonForm 4 ↗
Cheryl BeranekDirector2026-06-30A210255,204CommonForm 4 ↗
John HillChief Operating Officer2026-06-30A4592511,374CommonForm 4 ↗
Anis KhemakhemChief Commercial Officer2026-06-30A158253,915CommonForm 4 ↗
Daniel HerzogChief Financial Officer2026-06-30A7522518,635CommonForm 4 ↗
Cheryl BeranekDirector2026-07-01D1,7784071,227CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Cheryl BeranekRSU2024-11-16——16,181—$499,993
Daniel HerzogPSU2024-11-164,0458,090—12,135249,981
Cheryl BeranekPSU2024-11-168,09116,181—24,272499,993
John HillPSU2024-11-168,09116,181—24,272499,993
John HillRSU2024-11-16——16,181—499,993
Daniel HerzogRSU2024-11-16——8,090—249,981
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Cheryl Beranek$499,993$499,993$050.0%
Daniel Herzog249,981249,981050.0%
John Hill499,993499,993050.0%

% 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 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Cheryl BeranekPSU16,181—$556,303
Cheryl BeranekPSU12,732—437,726
John HillPSU3,333—114,600
John HillPSU16,181—556,303
Daniel HerzogPSU6,366—218,863
Daniel HerzogPSU8,090—278,134
Cheryl BeranekPSU3,333—114,600
John HillPSU12,732—437,726
Daniel HerzogPSU1,667—57,300
05

Incentive-plan design — the Compensation Discussion & Analysis

Performance-based compensation should constitute a significant portion of the executive s overall compensation and be available to the executive when they individually deliver, and we as a company deliver, high performance.

CEO STI target (% of salary)30%
CEO LTI target (% of salary)—
Independent consultantCompensia
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-02-268,282,235158,59421,23198.12%Passed
20252025-02-278,763,947238,26850,85697.35%Passed
20242024-02-228,941,891467,43771,49295.03%Passed
20232023-02-238,612,7451,502,516108,46385.15%Passed
20222022-02-247,843,860750,245130,82491.27%Passed
20212021-02-255,437,2823,133,903171,46263.44%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
20262026-02-2698.12%a
20252025-02-2797.35%b
20242024-02-2295.03%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.

07

CEO pay ratio

Ratio (CEO : median employee)24 : 1
CEO total compensation$1,613,404
Median employee compensation$66,648
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Ronald G. RothIndependent · Board Chair · Compensation$50,000$79,988$0$0$0$129,988
Carol A. WirsbinskiIndependent · Compensation (Chair) · Nominating and Corporate Governance50,00079,988000129,988
Charles N. HayssenIndependent · Board Chair · Audit (Chair) · Nominating and Corporate Governance · Not standing for re-election50,00079,988000129,988
Donald R. HaywardIndependent · Audit · Nominating and Corporate Governance · Not standing for re-election50,00079,988000129,988
Walter L. Jones, JrIndependent · Compensation · Nominating and Corporate Governance (Chair)40,00079,988000119,988
Catherine T. KellyIndependent · Audit · Nominating and Corporate Governance · Newly elected8,54889,97400098,522
Ademir SarcevicIndependent · Audit · Compensation · Newly elected8,54889,97400098,522
Cheryl BeranekEmployee director000—00
Rebecca B. SeidelIndependent · Audit · Compensation000000
Kathleen S. SkarvanIndependent · Audit · Nominating and Corporate Governance000000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$80,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)10,000 / 10,000 / 10,000
Stock ownership guideline$250,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$257,096
Equity awards (grant-date value)$579,888
All other compensation$0
Total cost of the board$836,984

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

10

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.

10a

Peer reciprocity

Of the companies Clearfield 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 Clearfield.

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
1nLIGHT, Inc.2025Scott Keeney$476,808$36,086,000$0$756,217$37,333,189
2Gogo Inc.2025Christopher Moore850,0004,999,99701,033,8559,043,298
3ADTRAN Holdings, Inc.2025Thomas Stanton1,022,6853,763,04102,884,0007,683,726
4American Superconductor Corporation2025Daniel McGahn715,7695,644,80001,149,1257,529,025
5A10 Networks, Inc.2025Dhrupad Trivedi697,9175,211,97301,056,8006,974,141
6Harmonic Inc.2025Nimrod Ben-Natan609,0004,927,5620570,0006,163,092
7Digi International Inc.2025Ronald Konezny583,8463,454,3240949,1795,002,124
8Bel Fuse Inc.2025Farouq Tuweiq509,7113,299,75101,000,0004,909,182
9Applied Optoelectronics, Inc.2025Chih-Hsiang (Thompson) Lin828,6572,837,66701,009,0874,769,014
10CTS Corporation2025Kieran O'Sullivan856,3202,900,0490975,7804,758,899
11Aviat Networks, Inc.2026Peter Smith650,0003,559,2760196,5634,417,472
12BK Technologies Corporation2025John Suzuki392,44202,799,998221,4873,431,787
13Preformed Line Products Company2025Dennis McKenna725,0041,564,8430725,0043,287,390
14Frequency Electronics, Inc.2026Thomas McClelland366,8332,629,000003,259,827
15Vishay Precision Group, Inc.2025Ziv Shoshani743,2351,300,661002,279,041
16Lantronix, Inc.2026Saleel Awsare500,0001,208,4880400,0002,115,193
17Clearfield2025Cheryl Beranek460,000999,9860131,5111,613,404
18KVH Industries, Inc.2025Brent Bruun538,8100425,840485,1851,461,335
19Netlist, Inc.2025Chun Hong450,000635,250001,178,384
20RF Industries Ltd.2024Robert Dawson425,000220,580205,26415,000910,075
21Vicor Corporation2025Patrizio Vinciarelli479,2570160,2420702,202
—Shenandoah Telecommunications Company——————not in coverage universe

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
Clearfield29%RSU 50 · PSU 50NoCompensia
A10 Networks, Inc.not disclosedPSU 50 · RSU 50NoRadford-AON
ADTRAN Holdings, Inc.200%not disclosedNoPay Governance LLC
American Superconductor Corporation159%RSU 50 · PSU 50NoCompensia, Inc.
Applied Optoelectronics, Inc.104.8%PSU 50 · RSU 50Yes — Relative TSR vs. 2025 Peer GroupAon
Aviat Networks, Inc.not disclosedPSU 50 · RSU 50not disclosedCompensia
Bel Fuse Inc.not disclosednot disclosednot disclosedMeridian
BK Technologies Corporationnot disclosednot disclosednot disclosedCompensation Advisory Partners LLC
CTS Corporation112.8%not disclosedYes — Relative Total Shareholder Return (RTSR) ModifierExequity, LLP
Digi International Inc.147%RSU 50 · PSU 50Yes — TSR vs Russell 2000 IndexRadford Consulting (AON)
Frequency Electronics, Inc.not disclosednot disclosednot disclosedGrant Thornton
Gogo Inc.122%RSU 100not disclosedCompensation Strategies, Inc.
Harmonic Inc.not disclosedRSU 60 · MSU 20 · PSU 20Yes — TSR relative to Nasdaq Telecommunications IndexExequity
KVH Industries, Inc.not disclosedOptions 100not disclosedCompensia
Lantronix, Inc.80%PSU 50 · RSU 50Yes — Relative TSRCompensation Strategies, Inc.
Netlist, Inc.not disclosedRSU 100not disclosednot disclosed
nLIGHT, Inc.159%RSU 50 · PSU 50NoCompensia
Preformed Line Products Company100% for Executive Chairman, CEO, CFO, and President; 85% for other NEOs%Performance-based RSUs 100Nonot disclosed
RF Industries Ltd.not disclosednot disclosednot disclosedFrederic W. Cook & Co., Inc.
Shenandoah Telecommunications Companynot disclosednot disclosednot disclosednot disclosed
Vicor Corporationnot disclosedOptions 100not disclosednot disclosed
Vishay Precision Group, Inc.not disclosednot disclosedNoEY Parthenon

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.

10d

Frequently asked questions

Who was the highest-paid executive at Clearfield in fiscal 2025?
As disclosed, Cheryl Beranek (President and Chief Executive Officer) was the highest-paid executive at Clearfield in fiscal 2025, with total compensation of $1,613,404.
How does Clearfield's chief executive pay compare to its disclosed peer group?
As disclosed, Cheryl Beranek's total compensation ranked at the 20th percentile of Clearfield's disclosed peer group.
What is Clearfield's CEO-to-median employee pay ratio?
As disclosed, Clearfield's CEO-to-median employee pay ratio was 24:1.
How did shareholders vote on Clearfield's executive compensation?
As disclosed, 98.12% of shareholders supported Clearfield's executive compensation in the latest say-on-pay vote.
How much does Clearfield spend in total on board compensation for fiscal 2025?
As disclosed, Clearfield reported total board compensation of $836,984 for fiscal 2025.

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.

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, Cheryl BeranekDEF 14A2026-01-150001171843-26-000288Section “Summary Compensation Table” · page 34. As printed: 1,613,404. Filing ↗machine: t49 · r1 · c8 · span 425387–425396
2Section 01, John HillDEF 14A2026-01-150001171843-26-000288Section “Summary Compensation Table” · page 34. As printed: 1,584,728. Filing ↗machine: r7 · c8 · span 435479–435488
3Section 01, Daniel HerzogDEF 14A2026-01-150001171843-26-000288Section “Summary Compensation Table” · page 34. As printed: 980,580. Filing ↗machine: r4 · c8 · span 430475–430482
4Section 03, Cheryl Beranek RSUDEF 14A1900-01-010001171843-26-000288Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: span 474104–474111
5Section 03, Daniel Herzog PSUDEF 14A1900-01-010001171843-26-000288Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: span 484661–484668
6Section 03, Cheryl Beranek PSUDEF 14A1900-01-010001171843-26-000288Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: span 476735–476742
7Section 03, John Hill PSUDEF 14A1900-01-010001171843-26-000288Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: span 493093–493100
8Section 03, John Hill RSUDEF 14A1900-01-010001171843-26-000288Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: span 490049–490056
9Section 03, Daniel Herzog RSUDEF 14A1900-01-010001171843-26-000288Section “Grants of Plan-Based Awards in Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: span 482080–482087
10Section 07, pay ratioDEF 14A2026-01-150001171843-26-000288Section “CEO Pay Ratio”. As printed: 24 : 1. Filing ↗machine: span 618949–618956
11Section 08, Ronald G. RothDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 129,988. Filing ↗machine: t93 · r7 · c3 · span 683328–683450
12Section 08, Carol A. WirsbinskiDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 129,988. Filing ↗machine: t93 · r9 · c3 · span 685042–685164
13Section 08, Charles N. HayssenDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 129,988. Filing ↗machine: t93 · r3 · c3 · span 680153–680275
14Section 08, Donald R. HaywardDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 129,988. Filing ↗machine: t93 · r4 · c3 · span 680924–681046
15Section 08, Walter L. Jones, JrDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 119,988. Filing ↗machine: t93 · r5 · c3 · span 681744–681866
16Section 08, Catherine T. KellyDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 98,522. Filing ↗machine: t93 · r6 · c3 · span 682515–682636
17Section 08, Ademir SarcevicDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 98,522. Filing ↗machine: t93 · r8 · c3 · span 684096–684217
18Section 08, Cheryl BeranekDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, Rebecca B. SeidelDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 0. Filing ↗
20Section 08, Kathleen S. SkarvanDEF 14A2026-01-150001171843-26-000288Section “Director Compensation”. As printed: 0. Filing ↗
21Section 02, Donald R. Hayward 2026-02-19Form 42026-02-200000796505-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Ronald G. Roth 2026-02-27Form 42026-03-020000796505-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Kathleen S. Skarvan 2026-02-27Form 42026-03-020000796505-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Ademir Sarcevic 2026-02-27Form 42026-03-020000796505-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Walter L. Jones, Jr 2026-02-27Form 42026-03-020000796505-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Carol A. Wirsbinski 2026-02-27Form 42026-03-020000796505-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Rebecca B. Seidel 2026-02-27Form 42026-03-020000796505-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Catherine T. Kelly 2026-02-27Form 42026-03-020000796505-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Anis Khemakhem 2026-05-06Form 42026-05-080000796505-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Cheryl Beranek 2026-05-08Form 42026-05-120000796505-26-000015Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Walter L. Jones, Jr 2026-05-11Form 42026-05-120000796505-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Cheryl Beranek 2026-05-11Form 42026-05-120000796505-26-000015Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Cheryl Beranek 2026-05-27Form 42026-05-280000796505-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Cheryl Beranek 2026-06-01Form 42026-06-030000796505-26-000017Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Anis Khemakhem 2026-06-09Form 42026-06-110000796505-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Cheryl Beranek 2026-06-30Form 42026-07-020000796505-26-000019Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, John Hill 2026-06-30Form 42026-07-020000796505-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Anis Khemakhem 2026-06-30Form 42026-07-020000796505-26-000021Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Daniel Herzog 2026-06-30Form 42026-07-020000796505-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Cheryl Beranek 2026-07-01Form 42026-07-060000796505-26-000023Insider equity transaction reported since the proxy statement. Filing ↗
41Section 06, 2026 voteForm 8-K2026-02-270001171843-26-001184Item 5.07 · say-on-pay result. As reported: 98.12% (votes for as printed: 8,282,235). Filing ↗
42Section 06, 2025 voteForm 8-K2025-03-030001171843-25-001194Item 5.07 · say-on-pay result. As reported: 97.35% (votes for as printed: 8,763,947). Filing ↗
43Section 06, 2024 voteForm 8-K2024-02-260001171843-24-000982Item 5.07 · say-on-pay result. As reported: 95.03% (votes for as printed: 8,941,891). Filing ↗
44Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
45Section 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).machine: formula: sums + PSU ratio
46Section 09b board cost (computed)Computed——Cash 257,096 + equity 579,888 + all other 0 = 836,984, summed across the director compensation table rows.machine: formula: Σ = 836,984
47nLIGHT, Inc., Section 10b CEO totalDEF 14A2026-04-240001124796-26-000018CEO total compensation as printed in nLIGHT, Inc.'s own proxy. As printed: 37,333,189. Filing ↗machine: span 525389–525399
48Gogo Inc., Section 10b CEO totalDEF 14A2026-04-160001193125-26-158978CEO total compensation as printed in Gogo Inc.'s own proxy. As printed: 9,043,298. Filing ↗machine: t73 · r4 · c22 · span 1593836–1593845
49ADTRAN Holdings, Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-127315CEO total compensation as printed in ADTRAN Holdings, Inc.'s own proxy. As printed: 7,683,726. Filing ↗machine: t94 · r5 · c30 · span 1321525–1321534
50American Superconductor Corporation, Section 10b CEO totalDEF 14A2026-06-180001193125-26-275809CEO total compensation as printed in American Superconductor Corporation's own proxy. As printed: 7,529,025. Filing ↗machine: span 394587–394596
51A10 Networks, Inc., Section 10b CEO totalDEF 14A2026-03-100001140361-26-008793CEO total compensation as printed in A10 Networks, Inc.'s own proxy. As printed: 6,974,141. Filing ↗machine: r2 · c21 · span 490057–490066
52Harmonic 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: r3 · c19 · span 1385330–1385340
53Digi 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
54Bel Fuse Inc., Section 10b CEO totalDEF 14A2026-04-100001437749-26-011998CEO total compensation as printed in Bel Fuse Inc.'s own proxy. As printed: 4,909,182. Filing ↗
55Applied Optoelectronics, Inc., Section 10b CEO totalDEF 14A2026-04-240001104659-26-048559CEO total compensation as printed in Applied Optoelectronics, Inc.'s own proxy. As printed: 4,769,014. Filing ↗machine: r1 · c19 · span 965927–965936
56CTS Corporation, Section 10b CEO totalDEF 14A2026-04-020001193125-26-140010CEO total compensation as printed in CTS Corporation's own proxy. As printed: 4,758,899. Filing ↗
57Aviat Networks, Inc., Section 10b CEO totalDEF 14A2026-10-020001628280-26-064519CEO total compensation as printed in Aviat Networks, Inc.'s own proxy. As printed: 4,417,472. Filing ↗machine: r3 · c24 · span 439883–439892
58BK Technologies Corporation, Section 10b CEO totalDEF 14A2026-04-230001140361-26-016248CEO total compensation as printed in BK Technologies Corporation's own proxy. As printed: 3,431,787. Filing ↗machine: r2 · c24 · span 338800–338809
59Preformed Line Products Company, Section 10b CEO totalDEF 14A2026-03-200000080035-26-000011CEO total compensation as printed in Preformed Line Products Company's own proxy. As printed: 3,287,390. Filing ↗machine: r8 · c11 · span 750280–750289
60Frequency Electronics, Inc., Section 10b CEO totalDEF 14A2026-08-280001185185-26-003746CEO total compensation as printed in Frequency Electronics, Inc.'s own proxy. As printed: 3,259,827. Filing ↗machine: span 198337–198346
61Vishay Precision Group, Inc., Section 10b CEO totalDEF 14A2026-04-090001437749-26-011815CEO total compensation as printed in Vishay Precision Group, Inc.'s own proxy. As printed: 2,279,041. Filing ↗machine: span 674953–674962
62Lantronix, Inc., Section 10b CEO totalDEF 14A2026-09-220001140361-26-037329CEO total compensation as printed in Lantronix, Inc.'s own proxy. As printed: 2,115,193. Filing ↗machine: r2 · c24 · span 621598–621607
63Clearfield (subject), Section 10b CEO totalDEF 14A2026-01-150001171843-26-000288CEO total compensation as printed in Clearfield's own proxy. As printed: 1,613,404. Filing ↗machine: t49 · r1 · c8 · span 425387–425396
64KVH Industries, Inc., Section 10b CEO totalDEF 14A2026-04-280001104659-26-050409CEO total compensation as printed in KVH Industries, Inc.'s own proxy. As printed: 1,461,335. Filing ↗machine: r1 · c25 · span 311345–311354
65Netlist, Inc., Section 10b CEO totalDEF 14A2026-07-310001104659-26-089249CEO total compensation as printed in Netlist, Inc.'s own proxy. As printed: 1,178,384. Filing ↗machine: r3 · c12 · span 208737–208746
66RF Industries Ltd., Section 10b CEO totalDEF 14A2026-07-280001437749-26-024661CEO total compensation as printed in RF Industries Ltd.'s own proxy. As printed: 910,075. Filing ↗
67Vicor Corporation, Section 10b CEO totalDEF 14A2026-04-300001193125-26-194790CEO total compensation as printed in Vicor Corporation's own proxy. As printed: 702,202. Filing ↗machine: span 552868–552875
68Section 10a, A10 Networks, Inc. reciprocityDEF 14A—0001140361-26-008793A10 Networks, Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
69Section 10a, Applied Optoelectronics, Inc. reciprocityDEF 14A—0001104659-26-048559Applied Optoelectronics, Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
70Section 10a, CTS Corporation reciprocityDEF 14A—0001193125-26-140010CTS Corporation's most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
71Section 10a, ADTRAN Holdings, Inc. reciprocityDEF 14A—0001193125-26-127315ADTRAN Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
72Section 10a, Aviat Networks, Inc. reciprocityDEF 14A—0001628280-26-064519Aviat Networks, Inc. names Clearfield in its own disclosed peer group (read from its most recent proxy). Filing ↗
73Section 10a, American Superconductor Corporation reciprocityDEF 14A—0001193125-26-275809American Superconductor Corporation's most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
74Section 10a, Bel Fuse Inc. reciprocityDEF 14A—0001437749-26-011998Bel Fuse Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
75Section 10a, Digi International Inc. reciprocityDEF 14A—0001104659-25-122033Digi International Inc. names Clearfield in its own disclosed peer group (read from its most recent proxy). Filing ↗
76Section 10a, Gogo Inc. reciprocityDEF 14A—0001193125-26-158978Gogo Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
77Section 10a, Harmonic Inc. reciprocityDEF 14A—0001140361-26-016701Harmonic Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
78Section 10a, Lantronix, Inc. reciprocityDEF 14A—0001140361-26-037329Lantronix, Inc. names Clearfield in its own disclosed peer group (read from its most recent proxy). Filing ↗
79Section 10a, nLIGHT, Inc. reciprocityDEF 14A—0001124796-26-000018nLIGHT, Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗
80Section 10a, Vishay Precision Group, Inc. reciprocityDEF 14A—0001437749-26-011815Vishay Precision Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Clearfield. Filing ↗

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