Velarion · Company Intelligence
Compensation Brief
Fiscal year 2023 · Filings through 2026-08-14

Emcore (EMKR)

Fiscal year 2023 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.

$1,210,046
Jeffrey Rittichier total, FY2023
CEO pay percentile vs peers
5:1
CEO-to-median pay ratio
81.58%
Say-on-pay support, latest vote
Companies that benchmark against EMKR
2 companies name EMKR as a compensation peer

Each company listed discloses EMKR 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 EMKR 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 2023

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jeffrey Rittichier$500,000$0$686,190$0$0$0$23,856$1,210,046
Chief Executive Officer
Tom Minichiello365,0000254,57200043,528663,100
Chief Financial Officer
Iain Black300,0000175,38800023,669499,057
SVP, Operations

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 officerFY2023 totalFY2022 totalFY2021 totalΔ FY20222023
Jeffrey Rittichier$1,210,046$2,339,152−1,129,106
Tom Minichiello663,1001,136,615−473,515
Iain Black499,057

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.

05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's executive compensation program is designed to: attract, motivate, reward and retain highly qualified and talented individuals, motivate executives to improve the overall performance and profitability of the Company and reward them when specific measurable results have been achieved, encourage accountability by making executive compensation decisions based on each executive's individual performance and contributions, tie incentive awards to performance metrics that we believe drive the performance of the Company's Common Stock over the long term to further reinforce the linkage between the interests of the Company's shareholders and employees, link executives interests with shareholders interests by generally providing a significant portion of targeted total direct compensation in the form of stock-based incentives, and ensure compensation levels are both externally competitive and internally equitable.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)
Independent consultantCompensia
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20232023-03-1013,680,1713,088,053303,08181.58%Passed
20222022-03-1116,492,3981,085,2533,695,97693.83%Passed
20202020-03-209,386,554809,377193,34692.06%Passed
20192019-03-2217,882,6001,530,09467,33792.12%Passed
20182018-03-1621,808,523622,66042,13797.22%Passed
20172017-03-1715,444,063627,28928,40896.1%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
20232023-03-1081.58%a
20222022-03-1193.83%b
20202020-03-2092.06%c

a. Approved under the standard stated in the filing — “Abstentions are not treated as votes cast at the Annual Meeting;”.

b. Approved under the standard stated in the filing — “Abstentions are not treated as votes cast at the Annual Meeting;”.

c. Approved under the standard stated in the filing — “Therefore, withhold votes and abstentions will not be counted in determining the outcome of the vote for any of Proposals I, II and III.”.

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)5 : 1
CEO total compensation
Median employee compensation
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$225,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 9,500 / 8,000
Stock ownership guideline
10

Disclosed peer group — fiscal year 2023

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 Emcore 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 Emcore.

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
2AeroVironment, Inc.2026Wahid Nawabi1,118,82913,339,7150767,60915,253,775
3Applied Optoelectronics, Inc.2025Chih-Hsiang (Thompson) Lin828,6572,837,66701,009,0874,769,014
4DZS, Inc.2022Charles Vogt600,0003,520,0080450,0004,702,529
5Aviat Networks, Inc.2025Peter A. Smith650,0003,111,023003,772,051
6Astronics Corporation2025Peter Gundermann658,570500,455951,10803,090,552
7KVH Industries, Inc.2025Brent Bruun538,8100425,840485,1851,461,335
8Intevac, Inc.2023Nigel Hunton649,4400180,0001,381,434
9Emcore2023Jeffrey Rittichier500,000686,190001,210,046
10inTEST Corporation2025Richard Grant428,915400,003210,65554,6871,099,010
11Park Aerospace Corp.2026Brian Shore220,5750104,4000331,592
Airgain, Inc.not in coverage universe
Gilat Satellite Networks Ltd.not in coverage universe
Luna Innovations Incorporatednot in coverage universe
Ultralife Corporationnot 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
Emcorenot disclosedRSU 71 · PSU 29NoCompensia
AeroVironment, Inc.62%PSU 65 · RSU 35NoPay Governance
Airgain, Inc.not disclosednot disclosednot disclosednot disclosed
Applied Optoelectronics, Inc.104.8%PSU 50 · RSU 50Yes — Relative TSR vs. 2025 Peer GroupAon
Astronics Corporationnot disclosednot disclosedNonot disclosed
Aviat Networks, Inc.not disclosedPSU 50 · RSU 50Yes — TSRCompensia
DZS, Inc.75%not disclosednot disclosedKorn Ferry
Gilat Satellite Networks Ltd.not disclosednot disclosednot disclosednot disclosed
inTEST Corporation15%not disclosedNoRadford
Intevac, Inc.32.7%PSU 60 · RSU 40NoAon Human Capital Solutions
KVH Industries, Inc.not disclosedOptions 100not disclosedCompensia
Luna Innovations Incorporatednot disclosednot disclosednot disclosednot disclosed
nLIGHT, Inc.159%RSU 50 · PSU 50NoCompensia
Park Aerospace Corp.not disclosedOptions 100not disclosednot disclosed
Ultralife Corporationnot disclosednot disclosednot disclosednot disclosed

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, Jeffrey RittichierDEF 14A2024-01-260001193125-24-016707Section “Summary Compensation Table”. As printed: 1,210,046. Filing ↗machine: t101 · r2 · c31 · span 341672–341681
2Section 01, Tom MinichielloDEF 14A2024-01-260001193125-24-016707Section “Summary Compensation Table”. As printed: 663,100. Filing ↗machine: t101 · span 344924–344931
3Section 01, Iain BlackDEF 14A2024-01-260001193125-24-016707Section “Summary Compensation Table”. As printed: 499,057. Filing ↗machine: t101 · r8 · c31 · span 348182–348189
4Section 07, pay ratioDEF 14A2024-01-260001193125-24-016707Section “CEO Pay Ratio”. As printed: 5 : 1. Filing ↗
5Section 06, 2023 voteForm 8-K2023-03-140001104659-23-032264Item 5.07 · say-on-pay result. As reported: 81.58% (votes for as printed: 13,680,171). Filing ↗
6Section 06, 2022 voteForm 8-K2022-03-170000808326-22-000012Item 5.07 · say-on-pay result. As reported: 93.83% (votes for as printed: 1,085,253). Filing ↗machine: span 7203–7212
7Section 06, 2020 voteForm 8-K2020-03-230001104659-20-037314Item 5.07 · say-on-pay result. As reported: 92.06%. Filing ↗
8Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
9nLIGHT, 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
10AeroVironment, Inc., Section 10b CEO totalDEF 14A2026-08-140001104659-26-096689CEO total compensation as printed in AeroVironment, Inc.'s own proxy. As printed: 15,253,775. Filing ↗machine: t127 · r1 · c42 · span 1424713–1424723
11Applied 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
12DZS, Inc., Section 10b CEO totalDEF 14A2023-04-170001101680-23-000033CEO total compensation as printed in DZS, Inc.'s own proxy. As printed: 4,702,529. Filing ↗machine: r2 · c51 · span 450017–450026
13Aviat 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
14Astronics Corporation, Section 10b CEO totalDEF 14A2026-04-170001140361-26-015301CEO total compensation as printed in Astronics Corporation's own proxy. As printed: 3,090,552. Filing ↗machine: r2 · c22 · span 787043–787053
15KVH 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
16Intevac, Inc., Section 10b CEO totalDEF 14A2024-04-100001193125-24-091334CEO total compensation as printed in Intevac, Inc.'s own proxy. As printed: 1,381,434. Filing ↗
17Emcore (subject), Section 10b CEO totalDEF 14A2024-01-260001193125-24-016707CEO total compensation as printed in Emcore's own proxy. As printed: 1,210,046. Filing ↗machine: t101 · r2 · c31 · span 341672–341681
18inTEST Corporation, Section 10b CEO totalDEF 14A2026-04-280001036262-26-000024CEO total compensation as printed in inTEST Corporation's own proxy. As printed: 1,099,010. Filing ↗machine: t46 · r2 · c22 · span 384281–384290
19Park Aerospace Corp., Section 10b CEO totalDEF 14A2026-06-220002077096-26-000207CEO total compensation as printed in Park Aerospace Corp.'s own proxy. As printed: 331,592. Filing ↗machine: span 501047–501054
20Section 10a, Applied Optoelectronics, Inc. reciprocityDEF 14A0001104659-26-048559Applied Optoelectronics, Inc.'s most recent proxy was read; its disclosed peer group does not include Emcore. Filing ↗
21Section 10a, Aviat Networks, Inc. reciprocityDEF 14A0001140361-25-035861Aviat Networks, Inc.'s most recent proxy was read; its disclosed peer group does not include Emcore. Filing ↗
22Section 10a, DZS, Inc. reciprocityDEF 14A0001101680-23-000033DZS, Inc.'s most recent proxy was read; its disclosed peer group does not include Emcore. Filing ↗
23Section 10a, Intevac, Inc. reciprocityDEF 14A0001193125-24-091334Intevac, Inc. names Emcore in its own disclosed peer group (read from its most recent proxy). Filing ↗
24Section 10a, nLIGHT, Inc. reciprocityDEF 14A0001124796-26-000018nLIGHT, Inc.'s most recent proxy was read; its disclosed peer group does not include Emcore. Filing ↗