Sandra Wallach
About Sandra Wallach
Sandra Wallach, age 60 as of March 31, 2025, serves as Chief Financial Officer (CFO) of Amprius Technologies (AMPX) and previously was CFO of Legacy Amprius since August 2021. She holds a B.A. in Economics and Public Policy from UC Berkeley and has led finance functions across technology and industrial firms, including Identiv, MiaSole, UBM Tech, Juniper Networks, Intuit, and GE’s Industrial Systems division . Company performance in 2024 (preliminary): revenue ~$24.0–$24.2 million and net loss ~$44.7–$44.9 million; cash and equivalents ~$55.2 million and no debt at year-end . Amprius received an NYSE notice in September 2024 for sub‑$1 price compliance but remained listed during the cure period .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Identiv, Inc. | Chief Financial Officer | Feb 2017 – Aug 2021 | Led public-company finance and reporting in security authentication |
| MiaSole | VP Finance | Jun 2013 – Feb 2017 | Finance leadership for thin-film solar technology operations |
| UBM Tech (UBM LLC) | Chief Financial Officer | Not disclosed | Oversaw finance for media/tech subsidiary |
| Juniper Networks | Vice President of Finance | Not disclosed | Senior finance roles in networking technology |
| Intuit | Financial management positions | Not disclosed | Various finance roles in software |
| GE Industrial Systems, Drives & Controls | Chief Financial Officer | Not disclosed | CFO for industrial systems business |
External Roles
No current external directorships or committee roles disclosed for Ms. Wallach in company filings. If needed, see Executive Officers section of DEF 14A .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 373,006 | 451,001 |
| Target Bonus (%) | 65% of base | 65% of base |
| Actual Annual Bonus ($) | 242,450 (earned 2023, paid 2024) | 293,150 (earned 2024, paid 2025) |
Notes:
- Ms. Wallach’s confirmatory employment letter (Sept 2022) provides at-will terms, base salary and target bonus eligibility; her 2025 compensation unchanged from 2024 .
Performance Compensation
Annual Incentive (Cash)
| Year | Metric design | Target | Actual payout | Payout timing | Vesting |
|---|---|---|---|---|---|
| 2024 | Discretionary; formal goals not approved; board set bonuses based on company and individual performance | 65% of base | $293,150 | Paid in 2025 | Cash (no vesting) |
| 2023 | Discretionary; board determined based on performance | 65% of base | $242,450 | Paid in 2024 | Cash |
Equity Awards (Time-based)
| Award type | Grant date | Shares/Units | Grant-date fair value ($) | Vesting schedule | Status/value reference |
|---|---|---|---|---|---|
| RSUs | 03/19/2024 | Not disclosed; 609,131 unvested at 12/31/24 | $2,024,190 (2024 stock awards) | 1/16 vests quarterly after 03/19/2024 | Unvested RSUs mkt value $1,705,567 at $2.80 close on 12/31/24 |
Stock Options
| Grant date | Exercisable | Unexercisable | Exercise price ($) | Expiration | Vesting schedule |
|---|---|---|---|---|---|
| 08/23/2021 | 497,433 | 84,927 | 1.78 | 08/22/2031 | 25% on 07/26/2022; 1/36 monthly thereafter |
| 04/13/2022 | 69,762 | 75,827 | 2.61 | 04/13/2032 | 1/48 monthly after 01/01/2023 |
Multi-year Compensation Summary
| Component ($) | 2023 | 2024 |
|---|---|---|
| Salary | 373,006 | 451,001 |
| Bonus | 242,450 | 293,150 |
| Stock Awards | — | 2,024,190 |
| Option Awards | — | — |
| All Other Comp | 600 | 600 |
| Total | 616,056 | 2,768,941 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 829,557 shares; less than 1% of outstanding |
| Ownership breakdown (60-day window) | 115,725 common; 643,022 options exercisable; 70,810 RSUs vesting within 60 days |
| Shares pledged | Pledging prohibited by insider trading policy |
| Hedging | Hedging and derivative transactions prohibited |
| Ownership guidelines | Not disclosed in filings reviewed |
| Options in the money | Depends on market price vs strikes $1.78/$2.61 |
Employment Terms
| Provision | Terms |
|---|---|
| Employment | Confirmatory employment letter (Sept 2022); at-will; base + target bonus eligibility |
| Severance (without cause / good reason) | Three months of base salary continuation |
| Change-in-control | No specific CIC multiple/acceleration disclosed for Ms. Wallach (director RSUs accelerate on CIC; CEO options accelerate under certain conditions) |
| Incentive plan | Executive Incentive Compensation Plan; admin discretion; goals may be GAAP/non-GAAP; clawback provisions |
| Clawback | Subject to exchange/Dodd-Frank required clawbacks; additional recoupment possible |
| Retirement | 401(k) with discretionary match capability |
Risk Indicators & Red Flags
- Hedging and pledging prohibited; reduces misalignment risk .
- As an Emerging Growth Company (EGC), Amprius is exempt from say‑on‑pay and certain pay-disclosure rules; fewer external checks on compensation design .
- NYSE deficiency notice (average closing price < $1) in Sept 2024; company remained listed during cure period, but capital markets risk was present .
Vesting Schedules and Potential Selling Pressure
- RSUs granted March 2024 vest 1/16 each quarter; 609,131 units were unvested at 12/31/24, implying periodic settlements that could increase saleable share supply subject to trading plans and windows .
- Options continue monthly vesting under 2021/2022 grants; exercise decisions will depend on prevailing market price vs $1.78 and $2.61 strikes .
Compensation Structure Analysis
- Shift toward equity in 2024 with $2.0 million grant-date fair value RSUs, increasing at-risk pay tied to stock outcomes and contributing to retention via four-year quarterly vesting .
- Annual cash bonus remained discretionary due to lack of formally approved goals, reducing transparency of pay-for-performance alignment in 2024 .
- No tax gross-ups, deferred comp, or perquisites disclosed for Ms. Wallach in reviewed filings.
Compensation Committee & Peer Benchmarking
- Compensation committee (independent directors) retained Compensia for peer benchmarking; peers not listed in proxy; committee met five times in 2024 .
Say‑on‑Pay & Shareholder Feedback
- As an EGC, Amprius did not hold say‑on‑pay/say‑on‑frequency votes and is exempt from pay-versus-performance and CEO pay ratio disclosures .
Expertise & Qualifications
- UC Berkeley B.A. in Economics and Public Policy; extensive CFO/VP Finance roles across public and private technology/industrial companies .
Investment Implications
- Quarterly RSU vesting and sizable unvested balance suggest ongoing share settlement cadence; monitor Form 4 filings and any 10b5‑1 plans for potential selling flow around vest dates .
- Severance terms are conservative (three months base) with no disclosed CIC acceleration; limited golden parachute exposure; retention relies primarily on time-based equity .
- Prohibitions on hedging/pledging and modest beneficial ownership (<1%) reflect policy alignment but limited personal “skin in the game”; options at $1.78 and $2.61 provide upside leverage if AMPX sustains price recovery above strikes .
- Discretionary bonus design in 2024 weakens explicit pay-for-performance link; improved disclosure of formal metrics would strengthen investor confidence in incentive alignment .