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.
Each company listed discloses ENVX 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 ENVX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Raj Talluri | $617,505 | $0 | $6,999,998 | $0 | $375,422 | $0 | $3,564 | $7,996,489 |
| President and Chief Executive Officer | ||||||||
| Ryan Benton | 301,042 | 0 | 4,500,000 | 0 | 96,740 | 0 | 1,518 | 4,899,299 |
| Chief Financial Officer | ||||||||
| Ajay Marathe | 473,929 | 0 | 3,999,983 | 0 | 216,078 | 0 | 3,977 | 4,693,967 |
| Former Chief Operating Officer | ||||||||
| Arthi Chakravarthy | 365,308 | 0 | 1,499,993 | 0 | 145,845 | 0 | 810 | 2,011,955 |
| Chief Legal 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Raj Talluri | $7,996,489 | $11,452,248 | — | −3,455,759 |
| Ryan Benton | 4,899,299 | — | — | — |
| Ajay Marathe | 4,693,967 | 4,240,760 | 585,208 | +453,207 |
| Arthi Chakravarthy | 2,011,955 | 2,990,192 | — | −978,237 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Talluri | RSU | 129,931 | — | $991,374 |
| Arthi Chakravarthy | RSU | 63,430 | — | 483,971 |
| Talluri | RSU | 833,334 | — | 6,358,338 |
| Ryan Benton | RSU | 748,752 | — | 5,712,978 |
| Talluri | RSU | 411,626 | — | 3,140,706 |
| Ajay Marathe | RSU | 319,317 | — | 2,436,389 |
| Talluri | RSU | 168,813 | — | 1,288,043 |
| Ajay Marathe | RSU | 67,204 | — | 512,767 |
| Talluri | RSU | 257,949 | — | 1,968,151 |
| Talluri | RSU | 235,215 | — | 1,794,690 |
| Ajay Marathe | RSU | 160,513 | — | 1,224,714 |
| Ajay Marathe | RSU | 117,607 | — | 897,341 |
| Arthi Chakravarthy | RSU | 117,414 | — | 895,869 |
| Talluri | RSU | 95,551 | — | 729,054 |
| Ajay Marathe | RSU | 84,573 | — | 645,292 |
| Talluri | RSU | 90,798 | — | 692,789 |
| Arthi Chakravarthy | RSU | 88,205 | — | 673,004 |
| Arthi Chakravarthy | RSU | 50,403 | — | 384,575 |
| Ajay Marathe | RSU | 45,106 | — | 344,159 |
| Arthi Chakravarthy | RSU | 36,174 | — | 276,008 |
| Arthi Chakravarthy | RSU | 22,326 | — | 170,347 |
| Ajay Marathe | RSU | 33,170 | — | 253,087 |
| Arthi Chakravarthy | RSU | 20,786 | — | 158,597 |
| Arthi Chakravarthy | RSU | 28,267 | — | 215,677 |
Our executive compensation program is designed to align executive pay with the successful execution of strategic priorities that lead to the creation of long-term stockholder value, emphasizing a strong pay-for-performance philosophy where target total direct compensation is principally at-risk and realized pay is highly dependent on the achievement of pre-established performance objectives and long-term equity value creation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Compensia, Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-11 | 72,717,910 | 15,443,577 | 1,289,790 | 82.48% | Passed |
| 2025 | 2025-06-12 | 55,047,452 | 16,563,470 | 583,653 | 76.87% | Passed |
| 2024 | 2024-06-13 | 53,605,774 | 13,838,578 | 544,479 | 79.48% | Passed |
| 2023 | 2023-06-15 | 57,996,678 | 4,642,442 | 286,129 | 92.59% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-11 | 82.48%a |
| 2025 | 2025-06-12 | 76.87%b |
| 2024 | 2024-06-13 | 79.48%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.
| Ratio (CEO : median employee) | 47 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $169,800 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| J. Daniel McCranieIndependent · Audit · Compensation (Chair) | $21,491 | $437,395 | — | — | — | $458,886 |
| Thurman John RodgersNot independent · Board Chair | 97,000 | 194,997 | — | — | — | 291,997 |
| Joseph MalchowIndependent · Audit · Compensation · Cybersecurity (Chair) · Nominating and Corporate Governance | 79,167 | 194,997 | — | — | — | 274,164 |
| Gregory ReichowIndependent · Cybersecurity | 73,333 | 194,997 | — | — | — | 268,330 |
| Bernard GutmannIndependent · Audit (Chair) | 72,000 | 194,997 | — | — | — | 266,997 |
| Betsy AtkinsIndependent · Cybersecurity · Nominating and Corporate Governance (Chair) | 70,833 | 194,997 | — | — | — | 265,830 |
| Pegah EbrahimiIndependent · Audit · Nominating and Corporate Governance | 65,000 | 194,997 | — | — | — | 259,997 |
| Dr. Raj TalluriEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $195,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 22,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $478,824 |
| Equity awards (grant-date value) | $1,607,377 |
| All other compensation | $0 |
| Total cost of the board | $2,086,201 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Enovix 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 Enovix.
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 | IonQ | 2025 | Niccolo de Masi | $501,705 | $88,287,225 | $0 | $772,625 | $89,581,725 |
| 2 | Credo Technology Group | 2026 | William Brennan | 650,000 | 12,641,000 | 0 | 1,137,500 | 14,428,500 |
| 3 | SiTime | 2025 | Rajesh Vashist | 850,000 | 11,456,637 | 0 | 1,700,000 | 14,261,046 |
| 4 | Rambus | 2025 | Luc Seraphin | 726,250 | 7,898,072 | 0 | 869,652 | 9,507,546 |
| 5 | QuantumScape | 2025 | Siva Sivaram | 820,000 | 7,547,987 | 0 | 0 | 8,377,033 |
| 6 | Semtech | 2026 | Hong Hou | 692,350 | 6,582,343 | 0 | 875,063 | 8,177,250 |
| 7 | Enovix | 2025 | Raj Talluri | 617,505 | 6,999,998 | 0 | 375,422 | 7,996,489 |
| 8 | MaxLinear | 2025 | Kishore Seendripu | 721,444 | 7,095,625 | 0 | 0 | 7,817,568 |
| 9 | Ambarella | 2026 | Feng-Ming (Fermi) Wang | 575,000 | 5,933,330 | 0 | 846,000 | 7,354,330 |
| 10 | Impinj | 2025 | Chris Diorio | 449,770 | 6,643,537 | 0 | 0 | 7,108,558 |
| 11 | Shoals Technologies Group | 2025 | Brandon Moss | 791,666 | 4,400,002 | 0 | 699,200 | 5,961,218 |
| 12 | Cohu | 2025 | Luis Müller | 715,000 | 3,508,493 | 0 | 250,345 | 4,498,059 |
| 13 | Amprius Technologies | 2025 | Thomas Stepien | 319,712 | 2,746,000 | 0 | 0 | 3,354,715 |
| 14 | Wolfspeed | 2025 | Robert Feurle | 150,000 | 0 | 0 | 0 | 650,000 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Enovix | not disclosed | RSU 50 · PRSU 50 | not disclosed | Compensia, Inc. |
| Ambarella | 147% | RSU 50 · PSU 50 | Yes — Three-year relative total shareholder return (TSR) | Semler Brossy Consulting Group, LLC |
| Amprius Technologies | not disclosed | not disclosed | not disclosed | Compensia |
| Cohu | 31.8% | PSU 60 · RSU 40 | Yes — TSR performance relative to the Russell 2000 Index | Compensia |
| Credo Technology Group | not disclosed | PSU 100 | not disclosed | Compensia |
| Impinj | not disclosed | RSU 50 · PSU 50 | Yes — TSR relative to S&P Semiconductor Select Industry Index | Compensia |
| IonQ | 154% | PSU 100 | No | Meridian Compensation Partners LLC |
| MaxLinear | 131% | PSU 50 · RSU 50 | No | Compensia |
| QuantumScape | 100% | PSU 70 · RSU 30 | No | Compensia |
| Rambus | 98.6% | PSU 60 · RSU 40 | Yes — TSR relative to SOX semiconductor index minus Equipment Companies | Farient Advisors LLC |
| Semtech | 100% | PSU 50 · RSU 50 | No | Compensia |
| Shoals Technologies Group | 74% | PSU 50 · RSU 50 | No | Pay Governance |
| SiTime | 200% | PSU 65 · RSU 35 | No | Pearl Meyer |
| Wolfspeed | 20% | PSU 60 · RSU 40 | No | Compensia |
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Raj Talluri | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Executive Compensation Tables” · page 55. As printed: 7,996,489. Filing ↗machine: r3 · c27 · span 984909–984918 |
| 2 | Section 01, Ryan Benton | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Executive Compensation Tables” · page 55. As printed: 4,899,299. Filing ↗machine: r7 · c27 · span 992222–992231 |
| 3 | Section 01, Ajay Marathe | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Executive Compensation Tables” · page 55. As printed: 4,693,967. Filing ↗machine: r10 · c27 · span 996348–996357 |
| 4 | Section 01, Arthi Chakravarthy | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Executive Compensation Tables” · page 55. As printed: 2,011,955. Filing ↗machine: r15 · c27 · span 1004510–1004519 |
| 5 | Section 07, pay ratio | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “CEO Pay Ratio”. As printed: 47 : 1. Filing ↗ |
| 6 | Section 08, J. Daniel McCranie | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 458,886. Filing ↗machine: span 480652–480659 |
| 7 | Section 08, Thurman John Rodgers | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 291,997. Filing ↗machine: span 471490–471497 |
| 8 | Section 08, Joseph Malchow | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 274,164. Filing ↗machine: span 478816–478823 |
| 9 | Section 08, Gregory Reichow | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 268,330. Filing ↗machine: span 482723–482730 |
| 10 | Section 08, Bernard Gutmann | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 266,997. Filing ↗machine: span 476984–476991 |
| 11 | Section 08, Betsy Atkins | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 265,830. Filing ↗machine: span 473319–473326 |
| 12 | Section 08, Pegah Ebrahimi | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 259,997. Filing ↗machine: span 475151–475158 |
| 13 | Section 08, Dr. Raj Talluri | DEF 14A | 2026-04-24 | 0001828318-26-000018 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 06, 2026 vote | Form 8-K | 2026-06-12 | 0001828318-26-000046 | Item 5.07 · say-on-pay result. As reported: 82.48% (votes for as printed: 72,717,910). Filing ↗ |
| 15 | Section 06, 2025 vote | Form 8-K | 2025-06-16 | 0001828318-25-000209 | Item 5.07 · say-on-pay result. As reported: 76.87% (votes for as printed: 55,047,452). Filing ↗ |
| 16 | Section 06, 2024 vote | Form 8-K | 2024-06-18 | 0001828318-24-000126 | Item 5.07 · say-on-pay result. As reported: 79.48% (votes for as printed: 53,605,774). Filing ↗ |
| 17 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 18 | Section 09b board cost (computed) | Computed | — | computed | Cash 478,824 + equity 1,607,377 + all other 0 = 2,086,201, summed across the director compensation table rows.machine: formula: Σ = 2,086,201 |
| 19 | IonQ, Section 10b CEO total | DEF 14A | 2026-04-30 | 0001193125-26-197487 | CEO total compensation as printed in IonQ's own proxy. As printed: 89,581,725. Filing ↗machine: t32 · r2 · c14 · span 1076914–1076924 |
| 20 | Credo Technology Group, Section 10b CEO total | DEF 14A | 2026-08-25 | 0001628280-26-058936 | CEO total compensation as printed in Credo Technology Group's own proxy. As printed: 14,428,500. Filing ↗machine: r2 · c33 · span 515386–515396 |
| 21 | SiTime, Section 10b CEO total | DEF 14A | 2026-04-15 | 0001451809-26-000026 | CEO total compensation as printed in SiTime's own proxy. As printed: 14,261,046. Filing ↗machine: r2 · c42 · span 517107–517117 |
| 22 | Rambus, Section 10b CEO total | DEF 14A | 2026-03-06 | 0001193125-26-096458 | CEO total compensation as printed in Rambus's own proxy. As printed: 9,507,546. Filing ↗machine: r2 · c25 · span 447500–447509 |
| 23 | QuantumScape, Section 10b CEO total | DEF 14A | 2026-04-23 | 0001193125-26-173828 | CEO total compensation as printed in QuantumScape's own proxy. As printed: 8,377,033. Filing ↗machine: r2 · c6 · span 1137194–1137203 |
| 24 | Semtech, Section 10b CEO total | DEF 14A | 2026-04-21 | 0001140361-26-015949 | CEO total compensation as printed in Semtech's own proxy. As printed: 8,177,250. Filing ↗machine: r2 · c25 · span 1219054–1219063 |
| 25 | Enovix (subject), Section 10b CEO total | DEF 14A | 2026-04-24 | 0001828318-26-000018 | CEO total compensation as printed in Enovix's own proxy. As printed: 7,996,489. Filing ↗machine: r3 · c27 · span 984909–984918 |
| 26 | MaxLinear, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001288469-26-000021 | CEO total compensation as printed in MaxLinear's own proxy. As printed: 7,817,568. Filing ↗machine: r2 · c33 · span 860942–860951 |
| 27 | Ambarella, Section 10b CEO total | DEF 14A | 2026-05-15 | 0001193125-26-227183 | CEO total compensation as printed in Ambarella's own proxy. As printed: 7,354,330. Filing ↗machine: r2 · c23 · span 523548–523557 |
| 28 | Impinj, Section 10b CEO total | DEF 14A | 2026-04-16 | 0001193125-26-159032 | CEO total compensation as printed in Impinj's own proxy. As printed: 7,108,558. Filing ↗machine: span 767852–767861 |
| 29 | Shoals Technologies Group, Section 10b CEO total | DEF 14A | 2026-03-20 | 0001831651-26-000041 | CEO total compensation as printed in Shoals Technologies Group's own proxy. As printed: 5,961,218. Filing ↗machine: span 828604–828613 |
| 30 | Cohu, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001437749-26-010960 | CEO total compensation as printed in Cohu's own proxy. As printed: 4,498,059. Filing ↗machine: r1 · c15 · span 853738–853747 |
| 31 | Amprius Technologies, Section 10b CEO total | DEF 14A | 2026-04-29 | 0001899287-26-000026 | CEO total compensation as printed in Amprius Technologies's own proxy. As printed: 3,354,715. Filing ↗machine: r2 · c45 · span 309212–309221 |
| 32 | Wolfspeed, Section 10b CEO total | DEF 14A | 2025-10-23 | 0000895419-25-000121 | CEO total compensation as printed in Wolfspeed's own proxy. As printed: 650,000. Filing ↗machine: span 483175–483182 |
| 33 | Section 10a, IonQ reciprocity | DEF 14A | — | 0001193125-26-197487 | IonQ's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 34 | Section 10a, Shoals Technologies Group reciprocity | DEF 14A | — | 0001831651-26-000041 | Shoals Technologies Group's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 35 | Section 10a, MaxLinear reciprocity | DEF 14A | — | 0001288469-26-000021 | MaxLinear's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 36 | Section 10a, Ambarella reciprocity | DEF 14A | — | 0001193125-26-227183 | Ambarella's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 37 | Section 10a, QuantumScape reciprocity | DEF 14A | — | 0001193125-26-173828 | QuantumScape names Enovix in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 38 | Section 10a, SiTime reciprocity | DEF 14A | — | 0001451809-26-000026 | SiTime's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 39 | Section 10a, Rambus reciprocity | DEF 14A | — | 0001193125-26-096458 | Rambus's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 40 | Section 10a, Semtech reciprocity | DEF 14A | — | 0001140361-26-015949 | Semtech's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 41 | Section 10a, Impinj reciprocity | DEF 14A | — | 0001193125-26-159032 | Impinj's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 42 | Section 10a, Wolfspeed reciprocity | DEF 14A | — | 0000895419-25-000121 | Wolfspeed's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 43 | Section 10a, Credo Technology Group reciprocity | DEF 14A | — | 0001628280-26-058936 | Credo Technology Group's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |
| 44 | Section 10a, Cohu reciprocity | DEF 14A | — | 0001437749-26-010960 | Cohu's most recent proxy was read; its disclosed peer group does not include Enovix. Filing ↗ |