Companies Emcore
Emcore (EMKR): executive pay, fiscal 2023
Free brief. Every figure links to the company’s own filing.
Emcore no longer files a proxy statement; its last pay data is FY2023.
CEO pay, last three years
- $2,339,152FY2022
- $1,210,046FY2023
CEO total pay was $1,210,046 in fiscal 2023, down from $2,339,152 in fiscal 2022.
FY2023: salary $500,000 · bonus $0 · stock awards $686,190 · 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 |
|---|---|---|---|---|---|---|---|---|
| Jeffrey Rittichier | $500,000 | $0 | $686,190 | $0 | $0 | $0 | $23,856 | $1,210,046 |
| Chief Executive Officer | ||||||||
| Tom Minichiello | 365,000 | 0 | 254,572 | 0 | 0 | 0 | 43,528 | 663,100 |
| Chief Financial Officer | ||||||||
| Iain Black | 300,000 | 0 | 175,388 | 0 | 0 | 0 | 23,669 | 499,057 |
| 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 officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Jeffrey Rittichier | $1,210,046 | $2,339,152 | — | ↓ −1,129,106 |
| Tom Minichiello | 663,100 | 1,136,615 | — | ↓ −473,515 |
| Iain Black | 499,057 | — | — | — |
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
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 consultant | Compensia |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2023
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Iain Black | RSU | 2023-06-15 | — | — | 79,600 | — | $54,128 |
| Iain Black | RSU | 2023-03-23 | — | — | 56,400 | — | 64,860 |
| Tom Minichiello | PSU | 2023-03-23 | 0 | 80,800 | — | 80,800 | 80,800 |
| Tom Minichiello | RSU | 2023-06-15 | — | — | 118,900 | — | 80,852 |
| Jeffrey Rittichier | PSU | 2023-03-23 | 0 | 217,100 | — | 217,100 | 217,100 |
| Jeffrey Rittichier | RSU | 2023-03-23 | — | — | 217,100 | — | 249,550 |
| Iain Black | PSU | 2023-03-23 | 0 | 56,400 | — | 56,400 | 56,400 |
| Tom Minichiello | RSU | 2023-03-23 | — | — | 80,800 | — | 92,920 |
| Jeffrey Rittichier | RSU | 2023-06-15 | — | — | 323,000 | — | 219,640 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Iain Black | $118,988 | $56,400 | $0 | 32.2% |
| Tom Minichiello | 173,772 | 80,800 | 0 | 31.7% |
| Jeffrey Rittichier | 469,190 | 217,100 | 0 | 31.6% |
% 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 2023
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Iain Black | RSU | 152,320 | — | $73,114 |
| Iain Black | PSU | 186,751 | — | 89,640 |
| Tom Minichiello | RSU | 216,700 | — | 104,016 |
| Tom Minichiello | PSU | 276,962 | — | 132,942 |
| Jeffrey Rittichier | RSU | 605,400 | — | 290,592 |
| Jeffrey Rittichier | PSU | 752,505 | — | 361,202 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Stephen L. DomenikIndependent · Audit · Compensation · Strategy · NCG · Nominating and Corporate Governance · Not standing for re-election · Departed during FY | $81,000 | $117,500 | $0 | — | $0 | $198,500 |
| Rex S. JacksonIndependent · Audit (Chair) · Compensation · Strategy · Nominating and Corporate Governance | 82,500 | 75,000 | 0 | — | — | 167,500 |
| Noel HeiksIndependent · Audit · Strategy · Nominating and Corporate Governance | 63,000 | 75,000 | 0 | — | 0 | 138,000 |
| Bruce E. GroomsIndependent · Audit · Compensation · Strategy · NCG · Nominating and Corporate Governance (Chair) | 58,000 | 75,000 | 0 | — | 0 | 133,000 |
| Jeffrey RittichierEmployee director | — | — | — | — | — | 0 |
| Cletus C. GlasenerIndependent · Board Chair · Strategy · Partial-year service · Newly elected | — | — | — | — | — | — |
| Jeffrey J. RonckaIndependent · Strategy · Partial-year service | — | — | 0 | — | 0 | — |
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $75,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 9,500 / 8,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $284,500 |
| Equity awards (grant-date value) | $342,500 |
| All other compensation | $0 |
| Total cost of the board | $627,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Emcore as a peer
Companies that benchmark against EMKR
1 company names EMKR as a compensation peer
The list of companies that name EMKR as a peer is temporarily unavailable — recheck shortly.
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.
Peer reciprocity
The companies Emcore 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 | nLIGHT, Inc. | 2025 | Scott Keeney | $476,808 | $36,086,000 | $0 | $756,217 | $37,333,189 |
| 2 | AeroVironment, Inc. | 2026 | Wahid Nawabi | 1,118,829 | 13,339,715 | 0 | 767,609 | 15,253,775 |
| 3 | Applied Optoelectronics, Inc. | 2025 | Chih-Hsiang (Thompson) Lin | 828,657 | 2,837,667 | 0 | 1,009,087 | 4,769,014 |
| 4 | DZS, Inc. | 2022 | Charles Vogt | 600,000 | 3,520,008 | 0 | 450,000 | 4,702,529 |
| 5 | Astronics Corporation | 2025 | Peter Gundermann | 658,570 | 500,455 | 951,108 | 0 | 4,564,990 |
| 6 | Aviat Networks, Inc. | 2026 | Peter Smith | 650,000 | 3,559,276 | 0 | 196,563 | 4,417,472 |
| 7 | Luna Innovations Incorporated | 2022 | Scott Graeff | 450,000 | 850,007 | 0 | 394,650 | 1,717,672 |
| 8 | KVH Industries, Inc. | 2025 | Brent Bruun | 538,810 | 0 | 425,840 | 485,185 | 1,461,335 |
| 9 | Intevac, Inc. | 2023 | Nigel Hunton | 549,994 | 649,440 | 0 | 180,000 | 1,381,434 |
| 10 | Emcore | 2023 | Jeffrey Rittichier | 500,000 | 686,190 | 0 | 0 | 1,210,046 |
| 11 | Airgain, Inc. | 2025 | Jacob Suen | 450,000 | 382,814 | 169,210 | 103,125 | 1,119,149 |
| 12 | inTEST Corporation | 2025 | Richard Grant | 428,915 | 400,003 | 210,655 | 54,687 | 1,099,010 |
| — | Ultralife Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Gilat Satellite Networks Ltd. | — | — | — | — | — | — | not in coverage universe |
| — | Park Aerospace Corp. | — | — | — | — | — | — | 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.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Emcore | not disclosed | RSU 71 · PSU 29 | No | Compensia |
| AeroVironment, Inc. | 62% | PSU 65 · RSU 35 | No | Pay Governance |
| Airgain, Inc. | not disclosed | RSU 60 · Option 40 | not disclosed | not disclosed |
| Applied Optoelectronics, Inc. | 104.8% | PSU 50 · RSU 50 | Yes — Relative TSR vs. 2025 Peer Group | Aon |
| Astronics Corporation | not disclosed | not disclosed | No | not disclosed |
| Aviat Networks, Inc. | not disclosed | PSU 50 · RSU 50 | not disclosed | Compensia |
| DZS, Inc. | 75% | not disclosed | not disclosed | Korn Ferry |
| Gilat Satellite Networks Ltd. | not disclosed | not disclosed | not disclosed | not disclosed |
| inTEST Corporation | 15% | not disclosed | No | Radford |
| Intevac, Inc. | 32.7% | PSU 60 · RSU 40 | No | Aon Human Capital Solutions |
| KVH Industries, Inc. | not disclosed | Options 100 | not disclosed | Compensia |
| Luna Innovations Incorporated | not disclosed | not disclosed | not disclosed | Pearl Meyer |
| nLIGHT, Inc. | 159% | RSU 50 · PSU 50 | No | Compensia |
| Park Aerospace Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| Ultralife Corporation | not disclosed | not disclosed | not disclosed | not 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.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2023 | 2023-03-10 | 13,680,171 | 3,088,053 | 303,081 | 81.58% | Passed |
| 2022 | 2022-03-11 | 16,492,398 | 1,085,253 | 3,695,976 | 93.83% | Passed |
| 2020 | 2020-03-20 | 9,386,554 | 809,377 | 193,346 | 92.06% | Passed |
| 2019 | 2019-03-22 | 17,882,600 | 1,530,094 | 67,337 | 92.12% | Passed |
| 2018 | 2018-03-16 | 21,808,523 | 622,660 | 42,137 | 97.22% | Passed |
| 2017 | 2017-03-17 | 15,444,063 | 627,289 | 28,408 | 96.1% | 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 year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2023 | 2023-03-10 | 81.58%a |
| 2022 | 2022-03-11 | 93.83%b |
| 2020 | 2020-03-20 | 92.06%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.
CEO pay ratio
| Ratio (CEO : median employee) | 5 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2023 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Matthew Vargas | Director | 2025-02-28 | D | 1,880 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Cletus C. Glasener | Director | 2025-02-28 | D | 42,966 | 3 | 133,195 | Common | Form 4 ↗ |
| David Rogers | Director | 2025-02-28 | D | 47,619 | 3 | 147,619 | Common | Form 4 ↗ |
| Jeffrey J. Roncka | Director | 2025-02-28 | D | 27,295 | 3 | 84,615 | Common | Form 4 ↗ |
| Tom Minichiello | Chief Financial Officer | 2025-02-28 | D | 24,296 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Matthew Vargas | Director | 2025-02-28 | D | 218,683 | 3 | 677,917 | Common | Form 4 ↗ |
| Tom Minichiello | Chief Financial Officer | 2025-02-28 | D | 104,587 | 3 | 324,220 | Common | Form 4 ↗ |
| Bruce E. Grooms | Director | 2025-02-28 | D | 31,578 | 3 | 97,892 | Common | Form 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.
Sources (48 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, Jeffrey Rittichier. DEF 14A, filed 2024-01-26. Section “Executive Compensation”. As printed: 1,210,046. View filing ↗
- Section 01, Tom Minichiello. DEF 14A, filed 2024-01-26. Section “Executive Compensation”. As printed: 663,100. View filing ↗
- Section 01, Iain Black. DEF 14A, filed 2024-01-26. Section “Executive Compensation”. As printed: 499,057. View filing ↗
- Section 03, Iain Black RSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Iain Black RSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Tom Minichiello PSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Tom Minichiello RSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jeffrey Rittichier PSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jeffrey Rittichier RSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Iain Black PSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Tom Minichiello RSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Jeffrey Rittichier RSU. DEF 14A, filed 2024-01-26. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2024-01-26. Section “CEO Pay Ratio”. As printed: 5 : 1. View filing ↗
- Section 08, Stephen L. Domenik. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: 198,500. View filing ↗
- Section 08, Rex S. Jackson. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: 167,500. View filing ↗
- Section 08, Noel Heiks. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: 138,000. View filing ↗
- Section 08, Bruce E. Grooms. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: 133,000. View filing ↗
- Section 08, Jeffrey Rittichier. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Cletus C. Glasener. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Jeffrey J. Roncka. DEF 14A, filed 2024-01-26. Section “Director Compensation”. As printed: —. View filing ↗
- Section 02, Matthew Vargas 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Cletus C. Glasener 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, David Rogers 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jeffrey J. Roncka 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tom Minichiello 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matthew Vargas 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Tom Minichiello 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Bruce E. Grooms 2025-02-28. Form 4, filed 2025-02-28. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2023 vote. Form 8-K, filed 2023-03-14. Item 5.07 · say-on-pay result. As reported: 81.58% (votes for as printed: 13,680,171). View filing ↗
- Section 06, 2022 vote. Form 8-K, filed 2022-03-17. Item 5.07 · say-on-pay result. As reported: 93.83% (votes for as printed: 1,085,253). View filing ↗
- Section 06, 2020 vote. Form 8-K, filed 2020-03-23. Item 5.07 · say-on-pay result. As reported: 92.06%. 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 284,500 + equity 342,500 + all other 0 = 627,000, summed across the director compensation table rows.
- nLIGHT, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in nLIGHT, Inc.'s own proxy. As printed: 37,333,189. View filing ↗
- AeroVironment, Inc., Section 10b CEO total. DEF 14A, filed 2026-08-14. CEO total compensation as printed in AeroVironment, Inc.'s own proxy. As printed: 15,253,775. View filing ↗
- Applied Optoelectronics, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Applied Optoelectronics, Inc.'s own proxy. As printed: 4,769,014. View filing ↗
- DZS, Inc., Section 10b CEO total. DEF 14A, filed 2023-04-17. CEO total compensation as printed in DZS, Inc.'s own proxy. As printed: 4,702,529. View filing ↗
- Astronics Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-17. CEO total compensation as printed in Astronics Corporation's own proxy. As printed: 4,564,990. View filing ↗
- Aviat Networks, Inc., Section 10b CEO total. DEF 14A, filed 2026-10-02. CEO total compensation as printed in Aviat Networks, Inc.'s own proxy. As printed: 4,417,472. View filing ↗
- Luna Innovations Incorporated, Section 10b CEO total. DEF 14A, filed 2023-04-20. CEO total compensation as printed in Luna Innovations Incorporated's own proxy. As printed: 1,717,672. View filing ↗
- KVH Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in KVH Industries, Inc.'s own proxy. As printed: 1,461,335. View filing ↗
- Intevac, Inc., Section 10b CEO total. DEF 14A, filed 2024-04-10. CEO total compensation as printed in Intevac, Inc.'s own proxy. As printed: 1,381,434. View filing ↗
- Emcore (subject), Section 10b CEO total. DEF 14A, filed 2024-01-26. CEO total compensation as printed in Emcore's own proxy. As printed: 1,210,046. View filing ↗
- Airgain, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Airgain, Inc.'s own proxy. As printed: 1,119,149. View filing ↗
- inTEST Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in inTEST Corporation's own proxy. As printed: 1,099,010. View filing ↗
- Section 10a, Luna Innovations Incorporated reciprocity. DEF 14A. Luna Innovations Incorporated names Emcore in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Intevac, Inc. reciprocity. DEF 14A. Intevac, Inc. names Emcore in its own disclosed peer group (read from its most recent proxy). View filing ↗