Velarion · Company Intelligence
Compensation Brief
Fiscal year 2022 · Filings through 2026-07-22

Luna Innovations (LUNA)

CEO Scott Graeff was paid $1,717,672 in fiscal year 2022 (SEC filing 0001564590-23-005999 ↗): 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.

$1,717,672
Scott Graeff total, FY2022
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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01

Summary Compensation Table — fiscal year 2022

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Scott Graeff$450,000$0$850,007$0$394,650$0$23,015$1,717,672
President, Chief Executive Officer, Treasurer and Secretary
Eugene Nestro325,0000794,9220142,350017,3401,279,612
Chief Financial Officer
Brian Soller290,0000753,0020117,45008,3041,168,756
Chief Technology 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 officerFY2022 totalFY2021 totalFY2020 totalΔ FY2021→2022
Scott Graeff$1,717,672$1,115,683—↑ +601,989
Eugene Nestro1,279,612608,461—↑ +671,151
Brian Soller1,168,756541,057—↑ +627,699

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 LUNA
4 companies name LUNA as a compensation peer

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

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 2022

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Brian SollerRSU3,900—$34,281
Brian SollerPSU6,944—61,038
Eugene NestroRSU6,519—57,302
Scott GraeffPSU27,455—241,329
Scott GraeffRSU15,159—133,248
Scott GraeffPSU10,675—93,833
Eugene NestroRSU16,597—145,888
Eugene NestroPSU8,478—74,522
Eugene NestroRSU100,000—879,000
Brian SollerRSU100,000—879,000
Scott GraeffRSU54,910—482,659
Brian SollerRSU13,889—122,084
Scott GraeffRSU13,217—116,177
Scott GraeffPSU11,363—99,881
Brian SollerRSU6,140—53,971
Eugene NestroRSU5,200—45,708
Eugene NestroPSU4,886—42,948
Brian SollerPSU4,602—40,452
Eugene NestroPSU4,200—36,918
Brian SollerPSU3,150—27,689
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company is a smaller reporting company committed to providing information necessary to help stockholders understand its executive compensation-related decisions, including supplemental narrative describing the 2022 executive compensation program for named executive officers.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantPearl Meyer
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
08

Director compensation — fiscal year 2022

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Richard W. RoedelIndependent · Compensation · Nominating and Governance · Risk (Chair)$82,750$113,000———$195,750
Gary SpiegelIndependent · Compensation (Chair) · Nominating and Governance · Risk61,75063,000———124,750
Warren B. PhelpsIndependent · Audit (Chair) · Compensation · Risk61,75063,000———124,750
Mary Beth VitaleIndependent · Audit · Nominating and Governance (Chair) · Risk59,75063,000———122,750
Pamela CoeIndependent · Audit · Nominating and Governance48,75063,000———111,750
N. Leigh AndersonIndependent · Audit · Compensation48,75063,000———111,750
09

Board fee structure and ownership guideline

Annual cash retainer$42,000
Annual equity retainer$63,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)15,000 / 15,000 / 11,000
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2022
Cash retainers and fees$363,500
Equity awards (grant-date value)$428,000
All other compensation$0
Total cost of the board$791,500

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

10

Disclosed peer group — fiscal year 2022

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 Luna Innovations 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 Luna Innovations.

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
2Mesa Laboratories, Inc.2026Gary Owens808,8464,700,01701,120,0006,643,208
3Axcelis Technologies, Inc.2025Russell Low608,6543,852,7010627,5225,100,394
4Applied Optoelectronics, Inc.2025Chih-Hsiang (Thompson) Lin828,6572,837,66701,009,0874,769,014
5Veeco Instruments Inc.2025William Miller680,9613,931,130004,624,824
6Vishay Precision Group, Inc.2025Ziv Shoshani743,2351,300,661002,279,041
7NAPCO Security Technologies, Inc.2025Richard Soloway960,9200001,734,903
8Luna Innovations2022Scott Graeff450,000850,0070394,6501,717,672
9AXT, Inc.2025Morris Young479,000983,4820172,9001,673,404
10Clearfield, Inc.2025Cheryl Beranek460,000999,9860131,5111,613,404
11CyberOptics Corporation2021Subodh Kulkarni424,500193,050208,513587,0001,422,279
12Intevac, Inc.2023Nigel Hunton549,994649,4400180,0001,381,434
13Emcore Corporation2023Jeffrey Rittichier500,000686,190001,210,046
14Iteris, Inc.2023Joe Bergera445,000218,504247,386212,4611,141,479
15DZS Inc.2023Charles Vogt600,000000636,227

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
Luna Innovationsnot disclosednot disclosednot disclosedPearl Meyer
Applied Optoelectronics, Inc.104.8%PSU 50 · RSU 50Yes — Relative TSR vs. 2025 Peer GroupAon
Axcelis Technologies, Inc.103.1%RSU 50 · PRSU 50NoPearl Meyer
AXT, Inc.not disclosedRSU 100not disclosedCompensia
Clearfield, Inc.29%RSU 50 · PSU 50NoCompensia
CyberOptics Corporationnot disclosednot disclosednot disclosedNone
DZS Inc.not disclosednot disclosednot disclosedAon
Emcore Corporationnot disclosedRSU 71 · PSU 29NoCompensia
Intevac, Inc.32.7%PSU 60 · RSU 40NoAon Human Capital Solutions
Iteris, Inc.60%Options 50 · RSU 25 · PSU 25NoFW Cook
Mesa Laboratories, Inc.125%PSU 50 · RSU 50NoFrederic W. Cook & Co, Inc.
NAPCO Security Technologies, Inc.not disclosedOption 100not disclosednot disclosed
nLight, Inc.159%RSU 50 · PSU 50NoCompensia
Veeco Instruments Inc.not disclosedPSU 65 · RSU 35NoCompensation Strategies, Inc.
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 Luna Innovations in fiscal 2022?
As disclosed, Scott Graeff (President, Chief Executive Officer, Treasurer and Secretary) was the highest-paid executive at Luna Innovations in fiscal 2022, with total compensation of $1,717,672.
How much does Luna Innovations spend in total on board compensation for fiscal 2022?
As disclosed, Luna Innovations reported total board compensation of $791,500 for fiscal 2022.

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, Scott GraeffDEF 14A2023-04-200001564590-23-005999Section “Summary Compensation Table” · page 43. As printed: 1,717,672. Filing ↗machine: span 867912–867921
2Section 01, Eugene NestroDEF 14A2023-04-200001564590-23-005999Section “Summary Compensation Table” · page 43. As printed: 1,279,612. Filing ↗machine: span 902101–902110
3Section 01, Brian SollerDEF 14A2023-04-200001564590-23-005999Section “Summary Compensation Table” · page 43. As printed: 1,168,756. Filing ↗machine: span 936173–936182
4Section 08, Richard W. RoedelDEF 14A2023-04-200001564590-23-005999Section “Director Compensation”. As printed: 195,750. Filing ↗machine: span 394495–394727
5Section 08, Gary SpiegelDEF 14A2023-04-200001564590-23-005999Section “Director Compensation”. As printed: 124,750. Filing ↗machine: span 401495–401727
6Section 08, Warren B. PhelpsDEF 14A2023-04-200001564590-23-005999Section “Director Compensation”. As printed: 124,750. Filing ↗machine: span 408504–408736
7Section 08, Mary Beth VitaleDEF 14A2023-04-200001564590-23-005999Section “Director Compensation”. As printed: 122,750. Filing ↗machine: span 422513–422745
8Section 08, Pamela CoeDEF 14A2023-04-200001564590-23-005999Section “Director Compensation”. As printed: 111,750. Filing ↗machine: span 430123–430355
9Section 08, N. Leigh AndersonDEF 14A2023-04-200001564590-23-005999Section “Director Compensation”. As printed: 111,750. Filing ↗machine: span 415509–415741
10Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
11Section 09b board cost (computed)Computed——Cash 363,500 + equity 428,000 + all other 0 = 791,500, summed across the director compensation table rows.machine: formula: Σ = 791,500
12nLight, 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
13Mesa Laboratories, Inc., Section 10b CEO totalDEF 14A2026-07-220000724004-26-000071CEO total compensation as printed in Mesa Laboratories, Inc.'s own proxy. As printed: 6,643,208. Filing ↗machine: r3 · c24 · span 580946–580955
14Axcelis Technologies, Inc., Section 10b CEO totalDEF 14A2026-03-310001104659-26-037356CEO total compensation as printed in Axcelis Technologies, Inc.'s own proxy. As printed: 5,100,394. Filing ↗machine: span 566992–567001
15Applied 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
16Veeco Instruments Inc., Section 10b CEO totalDEF 14A2026-03-190001104659-26-032085CEO total compensation as printed in Veeco Instruments Inc.'s own proxy. As printed: 4,624,824. Filing ↗machine: r1 · c57 · span 726251–726260
17Vishay 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
18NAPCO Security Technologies, Inc., Section 10b CEO totalDEF 14A2025-10-240001140361-25-039260CEO total compensation as printed in NAPCO Security Technologies, Inc.'s own proxy. As printed: 1,734,903. Filing ↗machine: r2 · c18 · span 249254–249263
19Luna Innovations (subject), Section 10b CEO totalDEF 14A2023-04-200001564590-23-005999CEO total compensation as printed in Luna Innovations's own proxy. As printed: 1,717,672. Filing ↗machine: span 867912–867921
20AXT, Inc., Section 10b CEO totalDEF 14A2026-03-310001437749-26-010661CEO total compensation as printed in AXT, Inc.'s own proxy. As printed: 1,673,404. Filing ↗machine: r6 · c28 · span 442207–442216
21Clearfield, Inc., Section 10b CEO totalDEF 14A2026-01-150001171843-26-000288CEO total compensation as printed in Clearfield, Inc.'s own proxy. As printed: 1,613,404. Filing ↗machine: t49 · r1 · c8 · span 425387–425396
22CyberOptics Corporation, Section 10b CEO totalDEF 14A2022-03-280000897101-22-000324CEO total compensation as printed in CyberOptics Corporation's own proxy. As printed: 1,422,279. Filing ↗
23Intevac, 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 ↗
24Emcore Corporation, Section 10b CEO totalDEF 14A2024-01-260001193125-24-016707CEO total compensation as printed in Emcore Corporation's own proxy. As printed: 1,210,046. Filing ↗machine: span 341672–341681
25Iteris, Inc., Section 10b CEO totalDEF 14A2023-07-280001628280-23-026101CEO total compensation as printed in Iteris, Inc.'s own proxy. As printed: 1,141,479. Filing ↗machine: r2 · c48 · span 491821–491830
26DZS Inc., Section 10b CEO totalDEF 14A2024-08-130000950170-24-096409CEO total compensation as printed in DZS Inc.'s own proxy. As printed: 636,227. Filing ↗machine: r2 · c32 · span 3070099–3070106
27Section 10a, Applied Optoelectronics, Inc. reciprocityDEF 14A—0001104659-26-048559Applied Optoelectronics, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
28Section 10a, Veeco Instruments Inc. reciprocityDEF 14A—0001104659-26-032085Veeco Instruments Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
29Section 10a, DZS Inc. reciprocityDEF 14A—0000950170-24-096409DZS Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
30Section 10a, AXT, Inc. reciprocityDEF 14A—0001437749-26-010661AXT, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
31Section 10a, nLight, Inc. reciprocityDEF 14A—0001124796-26-000018nLight, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
32Section 10a, Intevac, Inc. reciprocityDEF 14A—0001193125-24-091334Intevac, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
33Section 10a, Mesa Laboratories, Inc. reciprocityDEF 14A—0000724004-26-000071Mesa Laboratories, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
34Section 10a, Clearfield, Inc. reciprocityDEF 14A—0001171843-26-000288Clearfield, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
35Section 10a, NAPCO Security Technologies, Inc. reciprocityDEF 14A—0001558370-22-015658NAPCO Security Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗
36Section 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 Luna Innovations. Filing ↗
37Section 10a, Iteris, Inc. reciprocityDEF 14A—0001628280-23-026101Iteris, Inc. names Luna Innovations in its own disclosed peer group (read from its most recent proxy). Filing ↗
38Section 10a, Axcelis Technologies, Inc. reciprocityDEF 14A—0001104659-26-037356Axcelis Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Luna Innovations. Filing ↗

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