Fiscal year 2024 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 NLST 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 NLST 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 |
|---|---|---|---|---|---|---|---|---|
| Chun K. Hong | $450,000 | $0 | $997,500 | $0 | $0 | $0 | $109,914 | $1,557,414 |
| President, Chief Executive Officer and Director | ||||||||
| Gail Sasaki | 275,000 | 0 | 133,000 | 0 | 0 | 0 | 7,858 | 415,858 |
| Executive Vice President, Chief Financial Officer and Corporate Secretary | ||||||||
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 | FY2024 total | FY2023 total | FY2022 total | Δ FY2023→2024 |
|---|---|---|---|---|
| Chun K. Hong | $1,557,414 | $2,053,207 | $3,204,888 | −495,793 |
| Gail Sasaki | 415,858 | 583,257 | 952,855 | −167,399 |
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 | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Gail Sasaki | RSU | 2022-01-25 | — | — | 125,000 | — | $104,688 |
| Chun K. Hong | — | 2015-01-06 | — | — | — | — | 300,000 |
| Chun K. Hong | RSU | 2024-05-14 | — | — | 750,000 | — | 628,125 |
| Gail Sasaki | RSU | 2021-01-13 | — | — | 12,500 | — | 10,469 |
| Chun K. Hong | RSU | 2022-01-25 | — | — | 300,000 | — | 251,250 |
| Chun K. Hong | RSU | 2021-01-13 | — | — | 937,500 | — | 62,500 |
| Gail Sasaki | RSU | 2023-03-16 | — | — | 25,000 | — | 20,938 |
| Chun K. Hong | RSU | 2023-03-16 | — | — | 374,250 | — | 313,434 |
| Gail Sasaki | Options/SARs | 2024-05-14 | — | — | 100,000 | — | 83,750 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Gail Sasaki | $136,095 | $0 | $0 | 0.0% |
| Chun K. Hong | 1,255,309 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
The company's executive compensation program reflects a variable pay-for-performance philosophy.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | None - In Fiscal 2024, our Board did not engage the services of any compensation consultants. |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-09-09 | 79,236,990 | 9,234,316 | 3,039,263 | 89.56% | Passed |
| 2022 | 2022-08-16 | 49,827,102 | 7,487,780 | 1,241,278 | 86.94% | Passed |
| 2019 | 2019-08-14 | 18,471,056 | 3,895,363 | 1,266,528 | 82.58% | Passed |
| 2016 | 2016-06-08 | 18,144,925 | 994,827 | 365,459 | 94.8% | 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 |
|---|---|---|
| 2025 | 2025-09-09 | 89.56%a |
| 2022 | 2022-08-16 | 86.94%b |
| 2019 | 2019-08-14 | 82.58%c |
a. Approved under the standard stated in the filing — “As a result, abstentions and broker non-votes, if any, will have no effect on the outcome of this proposal because of the nature of this voting requirement.”.
b. Approved under the standard stated in the filing — “As a result, abstentions and broker non-votes, if any, will have no effect on the outcome of this proposal because of the nature of this voting requirement.”.
c. Approved under the standard stated in the filing — “Non- Routine Matter Effect of Abstentions Effect of Broker Non-Votes 1: Election of Directors Plurality of Votes Cast Non-Routine No effect No effect 2: Ratification of Auditor Majority of Votes Cast Routine No effect None expected 3: Advisory Approval of executive compensation Majority of Shares Present Non-Routine No effect None expected 3 Table of Contents Tabulation of Votes The inspector of elections of the Annual Meeting will tabulate the votes of our stockholders at the Annual Meeting.”.
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) | 28 : 1 |
|---|---|
| CEO total compensation | $2,053,207 |
| Median employee compensation | $72,248 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Chun K. HongEmployee director · Board Chair | $0 | $0 | $0 | — | $0 | $0 |
| Blake WelcherIndependent · Partial-year service · Newly elected | — | — | — | 0 | — | — |
| Jun ChoIndependent · Audit · Partial-year service · Newly elected | — | — | — | 0 | — | — |
| Annual cash retainer | $40,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2024 |
|---|---|
| Cash retainers and fees | $0 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $0 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Netlist | 2024 | Chun K. Hong | $450,000 | $997,500 | $0 | $0 | $1,557,414 |
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.
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, Chun K. Hong | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “Summary Compensation Table”. As printed: 1,557,414. Filing ↗machine: t67 · r3 · c12 · span 235591–235600 |
| 2 | Section 01, Gail Sasaki | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “Summary Compensation Table”. As printed: 415,858. Filing ↗machine: t67 · r5 · c12 · span 241810–241817 |
| 3 | Section 03, Gail Sasaki RSU | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r16 · c14 · span 334493–334500 |
| 4 | Section 03, Chun K. Hong | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r8 · c4 · span 299794–299801 |
| 5 | Section 03, Chun K. Hong RSU | DEF 14A | — | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r14 · c14 · span 326940–326947 |
| 6 | Section 03, Gail Sasaki RSU | DEF 14A | — | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r15 · c14 · span 330691–330697 |
| 7 | Section 03, Chun K. Hong RSU | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r12 · c14 · span 318764–318771 |
| 8 | Section 03, Chun K. Hong RSU | DEF 14A | — | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r11 · c6 · span 312483–312489 |
| 9 | Section 03, Gail Sasaki RSU | DEF 14A | — | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r17 · c14 · span 338295–338301 |
| 10 | Section 03, Chun K. Hong RSU | DEF 14A | — | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r13 · c14 · span 322852–322859 |
| 11 | Section 03, Gail Sasaki Options/SARs | DEF 14A | — | 0001558370-25-009552 | Section “EXECUTIVE OFFICER AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t76 · r18 · c14 · span 342098–342104 |
| 12 | Section 07, pay ratio | DEF 14A | 2024-06-28 | 0001558370-24-009622 | Section “CEO Pay Ratio”. As printed: 28 : 1. Filing ↗machine: span 431484–431486 |
| 13 | Section 08, Chun K. Hong | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 08, Blake Welcher | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 15 | Section 08, Jun Cho | DEF 14A | 2025-07-24 | 0001558370-25-009552 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 16 | Section 06, 2025 vote | Form 8-K | 2025-09-11 | 0001104659-25-089286 | Item 5.07 · say-on-pay result. As reported: 89.56% (votes for as printed: 79,236,990). Filing ↗ |
| 17 | Section 06, 2022 vote | Form 8-K | 2022-08-18 | 0001104659-22-092559 | Item 5.07 · say-on-pay result. As reported: 86.94%. Filing ↗ |
| 18 | Section 06, 2019 vote | Form 8-K | 2019-08-15 | 0001104659-19-046160 | Item 5.07 · say-on-pay result. As reported: 82.58%. Filing ↗ |
| 19 | 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) |
| 20 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 21 | Section 09b board cost (computed) | Computed | — | computed | Cash 0 + equity 0 + all other 0 = 0, summed across the director compensation table rows.machine: formula: Σ = 0 |
| 22 | Netlist (subject), Section 10b CEO total | DEF 14A | 2025-07-24 | 0001558370-25-009552 | CEO total compensation as printed in Netlist's own proxy. As printed: 1,557,414. Filing ↗machine: t67 · r3 · c12 · span 235591–235600 |