Jorge Flores
About Jorge Flores
Jorge Flores, age 57, is Chief Operating Officer of AmpliTech Group (AMPG). He joined in March 2021 as Executive Director of Operations and was promoted to COO effective February 21, 2022; his employment agreement term was extended to March 20, 2027 . He holds an MBA in Operations Management and Leadership from Dowling College (NY) and a BS in Business Administration (Operations Management) from NYIT, with 30+ years in operations and program management (notably at Comtech Telecommunications) . Pay-versus-performance disclosure shows TSR rising to 130 in 2024, with TSR values of 61 (2022), 54 (2023), and 130 (2024) alongside net losses; company revenues fell over 2022–2024 and EBITDA turned more negative, framing execution risk in expansion initiatives . See the tables below for multi-year revenues and EBITDA.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Comtech Telecommunications (CMTL) | Director of Program Management; Senior Program Manager; Program Manager | Aug 2014–May 2021 | Led cross-functional program execution, supplier negotiations, production lines; government/commercial proposals and cost justifications . |
| AmpliTech Group | Executive Director of Operations | Mar 2021–Feb 2022 | Streamlined operations; groundwork for promotion to COO . |
External Roles
No public company board roles or external positions disclosed for Flores. Skip if not disclosed.
Fixed Compensation
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Base Salary ($) | 172,250 | 272,408 | 275,000 | 245,384 (reflects 20% voluntary reduction starting June 2024; reinstated Jan 1, 2025) |
| Bonus ($) | - | - | - | - |
| Stock Awards ($) | - | - | - | - |
| Option Awards ($) | 84,863 | 165,393 | 78,898 | - |
| All Other Compensation ($) | - | - | - | - |
| Total ($) | 257,113 | 437,801 | 353,898 | 245,384 |
Notes:
- In February 2022, the Board set Flores’ base salary at $275,000; in June 2024, executive officers voluntarily reduced salaries by 20%, reinstated effective January 1, 2025 .
Performance Compensation
| Grant Date | Instrument | Number of Options | Exercise Price ($) | Vesting | Expiration |
|---|---|---|---|---|---|
| Nov 26, 2021 | Stock Options | — (Flores not listed in this immediate-vest grant; executives received options that vest immediately at $3.52) | 3.52 | Immediate vest (for grants to other officers; Flores’ 2021 option award value disclosed) | — |
| Jun 14, 2022 | Stock Options | 50,000 | 1.72 | Quarterly installments over 5 years | Not specified in excerpt |
| Dec 20, 2022 | Stock Options | 50,000 | 1.92 | Quarterly installments over 5 years | Not specified in excerpt |
| Dec 20, 2023 | Stock Options | 50,000 | 1.73 | Quarterly installments over 5 years | Dec 20, 2033 |
Outstanding as of Dec 31, 2024:
- 12,500 exercisable; 37,500 unexercisable; exercise price $1.73; expiration Dec 20, 2033 .
Performance metrics tied to incentives:
- No explicit formulaic performance metrics (e.g., revenue, EBITDA, TSR) tied to Flores’ awards disclosed; awards are time-vested stock options under the 2020 Plan .
Clawbacks:
- Company adopted a Clawback Policy effective October 2, 2023, applicable to executive officers for Big R or little r restatements, administered by the Compensation Committee .
Say-on-Pay:
- Executive compensation program received support of over 85% of votes cast in 2022; company holds say-on-pay at least every three years .
Equity Ownership & Alignment
| Snapshot Date | Beneficial Ownership (Shares) | % of Class | Notes |
|---|---|---|---|
| Mar 28, 2022 | 34,000 | <1% (based on 9,582,113 shares outstanding) | Includes 25,000 options exercisable within 60 days . |
| Mar 13, 2024 | 76,917 | <1% (based on 9,717,113 shares outstanding) | Includes 62,917 options exercisable within 60 days . |
| Dec 31, 2024 | Options outstanding: 12,500 exercisable; 37,500 unexercisable | — | 2023 grant at $1.73 expiring Dec 20, 2033 . |
Hedging/Pledging:
- Insider Trading Policy prohibits short sales, derivative hedging, use of company securities as margin collateral, and pledging company securities as collateral .
Insider Transactions (Form 4):
- Aug 20, 2024: Purchase of 500 shares at $0.9377; holdings reflected as 14,500 thereafter .
- Aug 21, 2024: Purchases including 4,927 shares at $0.94; holdings reflected as 20,000 thereafter .
Stock Ownership Guidelines:
- No specific executive stock ownership guideline disclosures for Flores; Insider Trading Policy governs conduct .
Employment Terms
| Term | Detail |
|---|---|
| Base Salary | $275,000 per year set on February 21, 2022; voluntarily reduced 20% from June 2024; reinstated Jan 1, 2025 . |
| Employment Agreement | Initial term Feb 21, 2022–Mar 20, 2023; amended to Mar 20, 2024; further amended to Mar 20, 2027 . |
| Eligibility | Participation in the 2020 Equity Incentive Plan . |
| Covenants | Perpetual confidentiality; non-compete and non-solicit (employee and customer) during employment and for one year post-termination . |
| Severance/Change-of-Control | No severance multiples or change-in-control provisions disclosed in the cited documents for Flores; skip if not disclosed . |
| Clawback | Company-wide clawback policy adopted Oct 2, 2023, applicable to executives . |
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 19,394,492 | 15,584,577 | 9,508,372 |
| EBITDA ($) | 683,099* | -2,046,376* | -7,423,300* |
Notes:
- Values retrieved from S&P Global*.
- Pay-versus-performance table reports TSR of $100 initial investment as 61 (2022), 54 (2023), 130 (2024); net income (loss) of $(677,107), $(2,465,439), $(11,242,404) respectively .
Investment Implications
- Alignment: Flores’ incentives are primarily time-vested stock options with long 10-year terms and five-year vesting, which align with multi-year execution but lack disclosed financial performance gates; clawback policy mitigates restatement risk .
- Retention: A binding employment term through March 20, 2027, plus one-year post-employment restrictive covenants, lowers near-term retention risk; no severance or CoC terms disclosed suggests limited contractual cash liabilities .
- Trading signals: August 2024 open-market purchases by Flores at ~$0.90–$0.94 indicate insider confidence and reduce near-term selling pressure; anti-pledging/anti-hedging policies also limit adverse alignment behaviors .
- Execution risk: Revenues declined and EBITDA deteriorated through FY 2024, while TSR rebounded in 2024; the mix of time-based options without explicit performance hurdles may not directly penalize underperformance, necessitating focus on operational milestones and order conversion to sustain TSR .
- Governance backdrop: Say-on-pay approval of ~85% in 2022 and active Compensation Committee oversight reduce pay inflation risk; no related-party transactions disclosed for executives materially above $120,000 during 2022–2023 .