Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-26

Cambium Networks (CMBM)

Fiscal year 2025 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.

$540,500
John Waldron total, FY2025
Former Acting Chief Financial Officerhighest-paid officer; CEO Morgan Kurk: $503,846
CEO (Morgan Kurk) pay percentile vs peers
CEO-to-median pay ratio
97.35%
Say-on-pay support, latest vote
Companies that benchmark against CMBM
1 company names CMBM as a compensation peer

Each company listed discloses CMBM 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 CMBM 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 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Waldron$540,500$0$0$0$0$0$0$540,500
Former Acting Chief Financial Officer
Morgan Kurk500,000000003,846503,846
President and Chief Executive Officer and Director
Vibhu Vivek413,7000000014,300428,000
Senior Vice President, Products
Sally Rau337,0800000011,423348,503
Chief Legal and HR 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 FY20242025
John Waldron$540,500
Morgan Kurk503,8464,269,028
Vibhu Vivek428,000
Sally Rau348,503

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.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Morgan KurkRSU43,750$63,000
Vibhu VivekOption12,5005.01
Sally RauOption12,5005.01
Morgan KurkOption218,7509.11
Vibhu VivekRSU27,50039,600
Vibhu VivekOption16,8754.26
Sally RauOption16,8754.26
Morgan KurkOption312,5003.6
Vibhu VivekOption6,00014.51
Sally RauOption5,50014.51
05

Incentive-plan design — the Compensation Discussion & Analysis

Our current executive compensation program is intended to align executive compensation with our business objectives and with the interests of our shareholders, and to enable us to attract, retain and reward executive officers who contribute to our long-term success.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultant
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-2516,123,519438,67728,59297.35%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
20262026-06-2597.35%a

a. Approved under the standard stated in the filing — “An abstention on Proposal Two will have no effect.”.

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)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Bruce FeltIndependent · Audit (Chair)$75,000$0$0$0$0$75,000
Alexander R. SluskyIndependent · Compensation (Chair)65,000000065,000
Vikram VermaIndependent · Audit · Compensation60,000000060,000
Kevin LynchIndependent · Audit60,000000060,000
Robert AmenIndependent · Board Chair · Audit50,000000050,000
Atul BhatnagarNot independent000000
Morgan KurkEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$310,000
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$310,000

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

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
1Cambium Networks2025Morgan Kurk$500,000$0$0$0$503,846

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.

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, John WaldronDEF 14A2026-05-220001193125-26-236836Section “2025 Summary Compensation Table” · page 24. As printed: 540,500. Filing ↗machine: t10 · r8 · c5 · span 612956–612963
2Section 01, Morgan KurkDEF 14A2026-05-220001193125-26-236836Section “2025 Summary Compensation Table” · page 24. As printed: 503,846. Filing ↗machine: t10 · r2 · c29 · span 558880–558887
3Section 01, Vibhu VivekDEF 14A2026-05-220001193125-26-236836Section “2025 Summary Compensation Table” · page 24. As printed: 428,000. Filing ↗machine: t10 · r4 · c29 · span 580600–580607
4Section 01, Sally RauDEF 14A2026-05-220001193125-26-236836Section “2025 Summary Compensation Table” · page 24. As printed: 348,503. Filing ↗machine: t10 · r6 · c29 · span 602001–602008
5Section 07, pay ratio10-K2026-05-010001193125-26-201759Section “CEO Pay Ratio”. As printed: —. Filing ↗
6Section 08, Bruce FeltDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 75,000. Filing ↗machine: t7 · r4 · c3 · span 460161–460167
7Section 08, Alexander R. SluskyDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 65,000. Filing ↗machine: t7 · r3 · c3 · span 454178–454184
8Section 08, Vikram VermaDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 60,000. Filing ↗machine: t7 · r5 · c3 · span 466147–466153
9Section 08, Kevin LynchDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 60,000. Filing ↗machine: t7 · r6 · c3 · span 472131–472137
10Section 08, Robert AmenDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 50,000. Filing ↗machine: t7 · r2 · c3 · span 448159–448165
11Section 08, Atul BhatnagarDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 0. Filing ↗machine: t7 · r7 · c11 · span 480889–480890
12Section 08, Morgan KurkDEF 14A2026-05-220001193125-26-236836Section “Director Compensation”. As printed: 0. Filing ↗
13Section 06, 2026 voteForm 8-K2026-06-260001193125-26-285442Item 5.07 · say-on-pay result. As reported: 97.35% (votes for as printed: 16,123,519). Filing ↗
14Section 09b board cost (computed)ComputedcomputedCash 310,000 + equity 0 + all other 0 = 310,000, summed across the director compensation table rows.machine: formula: Σ = 310,000
15Cambium Networks (subject), Section 10b CEO totalDEF 14A2026-05-220001193125-26-236836CEO total compensation as printed in Cambium Networks's own proxy. As printed: 503,846. Filing ↗machine: t10 · r2 · c29 · span 558880–558887