Posted: 12/17/2024 03:23 am
As of 2024, Jeffrey B. Shealy, the Former Chief Executive Officer, received a total compensation of $962,325. This package included a salary of $539,069 and a notable incentive plan compensation of $218,968. Interestingly, no bonus was reported, and stock and option awards jointly comprised $190,040^2. This represents a decline from 2022, where Shealy's total compensation was $1,529,225, primarily buoyed by substantial stock and option awards amounting to $789,214 in total^3.
The downward trajectory in executive compensation correlates with Akoustis's financial performance and market position. As of the latest data, AKTS's stock price has dwindled to $0.0409, marking a significant decrease of 40.03% in market value^4. This slump in stock performance likely exacerbates pressures on executive compensation structures and reflects the broader challenges the company faces amidst its strategic sales endeavors and efforts to operate free from Qorvo infringement issues^5.
While the strategic sale and Chapter 11 filing endeavor to position Akoustis for future success, the impacts on compensation and market performance cannot be overlooked. Despite these hurdles, the company's commitment to delivering high-quality RF filters remains unwavering, as highlighted in its strategic initiatives^1.
The path forward for Akoustis Technologies is fraught with challenges, as evidenced by recent press releases and market data. Nevertheless, with strategic foresight and a focus on preserving business continuity, Akoustis remains hopeful for a resurgence in both market standing and financial stability.
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1. Akoustis Technologies Press Release, https://www.globenewswire.com/news-release/2024/12/16/2997221/0/en/Akoustis-to-Pursue-Strategic-Sale-of-its-Business-Through-Voluntary-Chapter-11-Process.html
2. SEC Filing 2024 – Jeffrey B. Shealy Compensation, https://www.sec.gov/Archives/edgar/data/1584754/000121390024086050/0001213900-24-086050-index.htm
3. SEC Filing 2022 – Jeffrey Shealy Compensation, https://www.sec.gov/Archives/edgar/data/1584754/000121390023077402/0001213900-23-077402-index.htm
4. Market Data Snapshot for AKTS, NASDAQ Stock Information
5. Akoustis Technologies Press Release, https://www.sec.gov/Archives/edgar/data/1584754/000121390024086050/0001213900-24-086050-index.htm
