Craig Barratt
About Craig Barratt
Craig Barratt, Ph.D., is an independent Class II director of Astera Labs (ALAB) appointed on March 2, 2025; he serves on the Audit Committee and is designated to stand for election at the 2026 annual meeting . He is age 62 as of April 15, 2025, and holds M.S. and Ph.D. degrees from Stanford University and undergraduate degrees in electrical engineering, pure mathematics, and physics from the University of Sydney . Barratt is a veteran semiconductor and networking executive (Atheros CEO; Qualcomm Atheros president; Google SVP, Access & Energy; Barefoot Networks CEO; Intel SVP & GM, Connectivity Group) and currently chairs the board of Intuitive Surgical; he was appointed to Intel’s board as an independent director in November 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Atheros Communications, Inc. | President, CEO, Director | 2003–2011 | Led company through IPO; acquired by Qualcomm in 2011 |
| Qualcomm Atheros (Qualcomm Inc. subsidiary) | President | 2011–2013 | Led networking/connectivity business post-acquisition |
| Google, Inc. | Senior Vice President, Access & Energy | 2013–2017 | Oversaw Google Fiber and broadband/energy initiatives |
| Barefoot Networks, Inc. | President & CEO | Apr 2017–Jul 2019 (until Intel acquisition) | Led programmable networking silicon company |
| Intel Corporation | SVP & GM, Connectivity Group | Jul 2019–May 2020 | Led ethernet, photonics, networking after Barefoot acquisition |
External Roles
| Company | Role | Since/Through | Notes |
|---|---|---|---|
| Intuitive Surgical, Inc. (ISRG) | Chair of the Board; Director | Director since Apr 2011; Chair since Apr 2020 | Current chair; long-tenured director |
| Intel Corporation (INTC) | Independent Director | Appointed Nov 10, 2025 | Newly appointed board member |
| IonQ, Inc. (IONQ) | Director | Jan 2021–Jun 2024 | Former public company directorship |
Board Governance
- Independence: The board determined Barratt is independent under Nasdaq and SEC rules .
- Committee assignments: Member, Audit Committee; the committee is chaired by Jack Lazar and includes Bethany Mayer; Barratt replaced Manuel Alba on Mar 2, 2025 .
- Board structure: Independent, non-management chair (Manuel Alba); regular executive sessions of independent directors .
- Classification and term: Class II director; term expires at the 2026 annual meeting .
- Attendance: In 2024, the full board met five times and each director then in office attended at least 75% of board and committee meetings; Barratt joined in 2025 (attendance expectation disclosed) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board Cash Retainer | $60,000 | Non-employee director policy |
| Audit Committee Member Retainer | $12,500 | Additional to board retainer |
| Audit Committee Chair Retainer | $25,000 | Not applicable to Barratt (member, not chair) |
| Board Chair Additional Retainer | $70,000 | Not applicable to Barratt |
| 2025 Proration | Prorated for 2025 | Barratt’s cash retainers prorated for 2025 |
Performance Compensation
| Award Type | Grant Value | Vesting | Performance Metrics | Change-in-Control Treatment |
|---|---|---|---|---|
| Initial RSU (upon joining Board) | $330,000 | Vests in equal annual installments over three years from grant; service-based | None disclosed; time-based RSUs (no performance criteria) | Director RSU awards subject to full accelerated vesting upon a change in control |
| Annual RSU (recurring) | $200,000 (policy) | Vests in full on earlier of 1-year anniversary or next annual meeting; service-based | None disclosed; time-based | Subject to full acceleration upon change in control |
Barratt participates in the standard non-employee director equity program; no performance-vested awards are disclosed for directors .
Other Directorships & Interlocks
| Relationship | Detail | Governance Consideration |
|---|---|---|
| Concurrent Board Seat at Intel | Joined Intel’s board as an independent director in Nov 2025 while serving on ALAB’s board | Potential competitive/partner interlock to monitor; the ALAB board nevertheless determined Barratt’s independence and disclosed no related-party transactions under Item 404(a) |
| Chair at Intuitive Surgical | Chair since 2020; unrelated industry | Low direct competitive overlap; beneficial governance expertise |
- Related-party/Item 404: ALAB disclosed no transactions involving Barratt requiring Item 404(a) disclosure; no family relationships; standard indemnification agreement entered .
- Related-party oversight: Audit Committee reviews and must approve any related-party transactions per policy .
Expertise & Qualifications
- Advanced technical education (Ph.D., M.S. Stanford; B.E., B.S. University of Sydney) .
- Deep semiconductor and networking operating experience (Atheros IPO and sale; Qualcomm Atheros; Google Fiber; Barefoot/Intel networking) .
- Board leadership: Chair of Intuitive Surgical; long public company governance experience .
- Audit Committee: Member; note that the board designated Lazar and Mayer (not Barratt) as “audit committee financial experts” .
Equity Ownership
| Measure | Amount | Notes |
|---|---|---|
| Beneficial Ownership (as of Mar 1, 2025) | — | No shares reported as beneficially owned by Barratt in principal stockholders table; “—” shown; <1% |
| Ownership as % of Outstanding | — | “—” in table; <1% |
| Vested vs. Unvested | Not disclosed | Initial RSU award approved; service-based vesting over 3 years |
| Pledging/Hedging | Prohibited | Company policy prohibits pledging, margin use, short sales, and hedging by directors |
Governance Assessment
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Strengths
- Independent director with substantial semiconductor, networking, and scale-up experience; brings board leadership credentials from ISRG .
- Immediate placement on Audit Committee, enhancing financial oversight bench (committee met five times in 2024; chaired by an “financial expert”) .
- Director pay structure skews to equity with service-based vesting, aligning with long-term shareholder interests; standard annual cash retainers are modest relative to equity .
- No Item 404(a) related-party transactions disclosed; standard indemnification in place; robust related-party policy resides with Audit Committee .
-
Watch items / potential red flags
- Concurrent Intel board service introduced in Nov 2025; while independence is affirmed and no related transactions are disclosed, investors may monitor potential competitive/interlock dynamics given both companies operate in semiconductor ecosystems .
- Barratt is not designated as an “audit committee financial expert” (Lazar and Mayer hold that designation), though he serves on the Audit Committee .
-
Alignment and protections
- Director equity accelerates upon change-in-control, which is market-standard for board retention; insider trading policy prohibits hedging/pledging, supporting shareholder alignment .
Sources
- ALAB 2025 DEF 14A (Board composition, independence, committees, director compensation policy, beneficial ownership, governance policies) .
- ALAB 8-K (Mar 3, 2025) (Barratt appointment; independence; Audit Committee assignment; cash and RSU terms; no related-party transactions; indemnification agreement) .
- Intel press release (Nov 10, 2025) (Barratt appointed to Intel board as independent director) .