Joseph Berry
About Joseph Berry
Joseph Berry (age 58) is President of Magnetic Solutions at Bel Fuse, appointed effective January 1, 2023. He joined Bel through the acquisition of Lucent Technologies’ Transformer and Inductor Division in 1999 and holds a B.S. in Electrical Engineering (UMass Lowell), M.S. in Electrical Engineering (Northeastern University), and an MBA (Southern Methodist University) . Under his leadership, Magnetic Solutions revenue grew 18.0% year over year in Q3 2025 (to $22.7M) and 27.9% for the first nine months of 2025 (to $63.5M), with segment gross margin improving to 29.0% in Q3 and 27.7% YTD; Magnetic sales also increased 32.5% in Q2 2025 on higher networking demand .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bel Fuse – Magnetic Solutions | President | Effective Jan 1, 2023 | Leads Magnetic Solutions; credited as an important contributor to segment success . |
| Bel Fuse – Magnetic Solutions | Vice President | Appointed Jan 2023 (as reported in 2024 proxy) | Senior leadership of Magnetic Solutions prior to title alignment as President . |
| Bel Fuse – Magnetic Solutions | General Manager; previously Director of Operations | — | Management roles preceding executive appointment; noted contributor to segment results . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lucent Technologies – Transformer & Inductor Division | Engineering/operations (joined Bel via acquisition) | Pre-1999 | Became part of Bel’s Magnetics business through acquisition in 1999 . |
Fixed Compensation
- Not disclosed for Joseph Berry in proxy executive compensation tables (he is not a Named Executive Officer in 2024 or 2025 filings) .
Performance Compensation
- While Berry’s individual incentive terms are not disclosed, Bel’s executive incentive framework (which governs NEOs and informs broader leadership incentives) is as follows:
| Performance Year | Metric(s) | Weighting/Approach | Payout/Design Notes |
|---|---|---|---|
| 2024 | Adjusted net revenue growth (dollars) and Adjusted EBITDA growth (dollars) vs operating plan; individual performance modifier | Matrix defining 0%–200% of target; threshold set at ambitious levels | Committee later exercised discretion due to misalignment with strong company outcomes (e.g., record gross margin, major acquisition), adjusting payouts and modifying program design going forward . |
| 2025 (forward design) | Target net revenue (dollars) and non-GAAP Adjusted EBITDA Margin (% of net sales) | Measures and weights set annually by Committee; company- vs unit-level assignment per executive | Payouts expected in cash and restricted stock; addition of annual PSUs with 3-year vesting tied to a pre-determined total shareholder return target (Committee discretion on terms) . |
- Equity award practices: annual grants generally on or around March 15; time-based restricted stock vesting in equal thirds over 3 years was applied to 2023–2024 incentive equity for NEOs (illustrative of vesting cadence) .
Equity Ownership & Alignment
- Individual beneficial ownership for Joseph Berry is not disclosed; the proxy provides aggregate holdings for directors and executive officers as a group but does not break out Berry’s holdings .
- Hedging/pledging policy: Bel prohibits short sales, standardized options, and certain hedging/monetization transactions; pledging is restricted to pre-approved, non‑margin debt where the insider can repay without resorting to pledged securities .
- Clawback policy: Incentive-based compensation for covered executive officers is subject to mandatory recovery upon an accounting restatement (3-year lookback), regardless of fault .
- Equity grant timing: centralized annual cycle to avoid appearance of information timing; awards predominantly restricted stock; PSUs added beginning with 2025 plan design .
Employment Terms
- No individual employment agreement or severance terms are disclosed for Joseph Berry. Company-wide severance plan for full-time, non-union U.S. associates provides lump-sum severance equal to two weeks of base pay per year of service (min four weeks; max 52 weeks) plus one month of company-paid health coverage, subject to a release .
Performance & Segment Execution (Magnetic Solutions)
| Metric | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 |
|---|---|---|---|---|
| Magnetic Solutions Revenue ($USD Millions) | $19.24 | $22.70 | $49.63 | $63.46 |
| Magnetic Solutions Gross Margin (%) | 27.3% | 29.0% | 23.9% | 27.7% |
- Additional context: Q2 2025 Magnetic Solutions sales increased by 32.5% YoY on networking demand, with gross margin supported by facility consolidations in the PRC, cost management, and favorable RMB/USD moves .
- Sensitivities: Magnetic Solutions is more labor-intensive, with margins more exposed to wage trends in the PRC and FX fluctuations than Bel’s other segments; shifts in mix and FX can influence unit economics .
Investment Implications
- Positive: Magnetic Solutions shows durable volume and margin momentum under Berry’s leadership, benefiting from networking end-markets and operational efficiencies; governance (anti-hedging/pledging and clawback) supports alignment .
- Watch items: Magnetic margins are more sensitive to PRC wage inflation and FX than other segments; lack of Named Executive Officer status limits transparency into Berry’s personal incentive structure, ownership, and vesting schedules—monitor future proxies and Form 4 filings for insider activity and potential selling pressure .