Benjamin Taecker
Aqua MetalsAbout Benjamin Taecker
Benjamin Taecker is Chief Engineering and Operations Officer at Aqua Metals (AQMS), a role he has held since August 2021 after serving as Vice President of Engineering and Operations since January 2017. He is 43 and holds a Mechanical Engineering degree from South Dakota State University, with 15+ years of design management experience including complex contracts for the U.S. military . Aqua Metals’ reported Total Shareholder Return (TSR) values over 2022–2024 were 40.98, 24.92, and 10.24, respectively, while net income was $(15,431,000), $(23,938,000), and $(24,555,000), indicating weaker shareholder outcomes and persistent losses during this period .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Aqua Metals | VP of Engineering & Operations | 2017–2021 | Leadership in engineering and operations prior to elevation to COO |
| Aqua Metals | Chief Engineering & Operations Officer | 2021–Present | Oversees engineering and operations; internal progression to senior leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Johnson Controls Inc. (Clarios) | Plant Superintendent, Lead Acid Battery Recycling Center (Florence, SC) | 2011–2016 | Involved in planning, construction, commissioning, and scaling of the facility |
| Defense sector (U.S. military contracts) | Design management (complex contracts) | Not disclosed | Broad technical design management experience on complex programs |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | 271,000 | 300,000 |
| Bonus ($) | 154,000 | 105,000 |
| Stock Awards – Grant-Date Fair Value ($) | 429,000 | 147,000 |
| All Other Compensation ($) | 19,000 | 20,000 |
| Total ($) | 873,000 | 572,000 |
| Compensation Structure (Current) | Detail |
|---|---|
| Base salary | $300,300 effective December 31, 2023 |
| Target short-term incentive (STIP) | 50% of base salary |
| Target long-term incentive (LTIP) | 100% of base salary |
| Salary History | Effective Date | Salary ($) |
|---|---|---|
| Initial agreement | August 2021 | 250,000 |
| Amendment | January 2, 2022 | 262,500 |
| Amended & restated | March 5, 2023 | 273,000 |
| Further amendment | December 31, 2023 | 300,300 |
Performance Compensation
| STIP (Cash) | Metric | Target | Actual Payout |
|---|---|---|---|
| Annual bonus | Board-approved performance criteria | 50% of base salary | 154,000 (2023) ; 105,000 (2024) |
| LTIP (Equity) | Grant Date | Units | Performance Metric / Vesting | Settlement |
|---|---|---|---|---|
| RSUs | Dec 12, 2023 | 18,958 | Time-based; vest in six equal semi-annual installments over three years | Semi-annual over 3 years |
| Price-Hurdle RSUs | Dec 12, 2023 | 141 | Vest on absolute price hurdles (5-day VWAP): $2.50 (71), $4.00 (35), $5.00 (35); expire at 3 years | On hurdle achievement; expires in 3 years |
| RSUs | Dec 29, 2023 | 6,500 | Time-based; vest in six equal semi-annual installments over three years | Semi-annual over 3 years |
| RSUs | Dec 19, 2024 | 79,893 | Time-based; vest in six equal semi-annual installments over three years | Semi-annual over 3 years |
| PSUs (TSR) | Dec 19, 2024 | 13,315 | Relative TSR vs peer group measured at 12/31/2025, 12/31/2026, 12/31/2027; payout: 50% at 25th percentile, 100% at 50th, 200% at 75th | 1/3 evaluated at each measurement date |
| PSUs (Stock Price Increase) | Dec 19, 2024 | 13,315 | Vest on 5 consecutive trading days achieving +50%, +100%, +150% increases vs 12/31/2024 30-day avg VWAP; 1/3 per hurdle | Anytime within 3 years post 12/31/2024 |
Equity Ownership & Alignment
| Beneficial Ownership (as of June 5, 2025) | Shares | % of Outstanding |
|---|---|---|
| Benjamin Taecker | 76,048 | Less than 1% |
| Outstanding Equity Awards at December 31, 2024 | Units Unvested | Market Value ($) |
|---|---|---|
| RSUs (Dec 13, 2021 grant) | 1,673 | 4,216 |
| RSUs (Dec 12, 2022 grant) | 8,822 | 22,231 |
| RSUs (Dec 12, 2023 grant) | 15,800 | 39,816 |
| RSUs (Dec 19, 2024 grant) | 79,893 | 201,330 |
| Price-Hurdle RSUs (Dec 12, 2023 grant) | 141 | 355 |
| PSUs (TSR, Dec 19, 2024 grant) | 13,315 | 33,554 |
| PSUs (Stock Price Increase, Dec 19, 2024 grant) | 13,315 | 33,554 |
| RSUs (Dec 29, 2023 grant) | 5,418 | 13,653 |
- Anti-hedging and pledging: Company policy prohibits short sales, publicly-traded options, hedging transactions, margin accounts, and pledged securities; window periods and pre-clearance requirements apply to insiders .
- 10b5-1 trading plans are permitted with CFO approval, subject to cooling-off requirements and plan constraints .
Employment Terms
| Provision | Terms |
|---|---|
| Employment agreement (amended & restated Aug 7, 2023) | Base salary $273,000 effective Mar 5, 2023, later increased to $300,300 effective Dec 31, 2023; eligible STIP/LTIP targets of 50% and 100% of base, respectively |
| Termination without cause / resignation for good reason | 12 months salary, prorated bonus for year of termination, and 12 months health benefits |
| Change-in-control (double-trigger, within 1 year) | 18 months salary, 150% of annual bonus, 18 months health benefits, and immediate vesting of unvested equity awards |
| Benefits & IP | Reasonable/customary health insurance and other benefits; customary IP assignment and confidentiality provisions |
| Potential Payments upon Termination (as of Dec 31, 2024) | Base Salary ($) | Prorated Annual Bonus ($) | Health Insurance Premiums ($) | Total ($) |
|---|---|---|---|---|
| Benjamin Taecker | 300 | 150 | 24 | 474 |
Investment Implications
- Pay-for-performance alignment: Taecker’s LTIP is heavily equity-based, with vesting tied to relative TSR percentiles and absolute stock price increases, while time-based RSUs settle semi-annually over three years; notable grant sizes include 79,893 RSUs (Dec 19, 2024) and 26,630 PSUs across TSR and price-hurdle structures (Dec 19, 2024) .
- Retention profile: The amended agreement provides meaningful severance and change-in-control protection plus accelerated vesting under a double-trigger, and the portfolio of unvested RSUs/PSUs extends over a multi-year horizon, supporting retention during commercialization execution .
- Trading risk controls: Anti-hedging and pledging prohibitions, window-period trading, and 10b5-1 preclearance requirements reduce leverage/hedging risks and channel insider sales into controlled windows/plans .
- Pay mix shifts amid performance pressure: 2024 saw lower grant-date equity value ($147k) versus 2023 ($429k), and a smaller cash bonus ($105k vs $154k), while company TSR and net losses deteriorated; CAP trends for NEOs broadly tracked TSR declines, highlighting investor-aligned pay moderation .