Michael C. Battaglia
Blink ChargingAbout Michael C. Battaglia
Michael C. Battaglia is President and Chief Executive Officer of Blink Charging Co. and was elected to the Board effective February 1, 2025; he is 54 and holds a B.S. in finance from Boston College’s Carroll School of Management . He joined Blink in August 2020 and progressed through VP Sales, SVP Sales & Business Development, Chief Revenue Officer, and Chief Operating Officer roles before his CEO appointment, leading operational streamlining and Salesforce CRM implementation with noted improvements in efficiency; management also highlighted “record-high sales and revenue each of the last three years” under his sales leadership . Company-level TSR and EBITDA growth metrics tied to his compensation were not specifically disclosed; most important measures for NEO pay in recent years were Revenue, Sales, and Capital Raise .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Blink Charging Co. | President & CEO; Director | Feb 1, 2025–present | CEO; Board member; sits on Growth & Strategy Committee |
| Blink Charging Co. | Chief Operating Officer | Sep 2023–Jan 2025 | Streamlined systems for order processing/fulfillment; improved operational efficiency |
| Blink Charging Co. | Chief Revenue Officer | Dec 2022–Sep 2023 | Led sales/business development; record-high sales and revenue each of last three years |
| Blink Charging Co. | SVP Sales & Business Development | Jan 2021–Dec 2022 | Led global Salesforce CRM tying field service and accounting |
| Blink Charging Co. | VP Sales | Aug 2020–Jan 2021 | Built high-performing sales teams |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| J.D. Power | Various management roles | Mar 2006–Jul 2020 | Helped OEMs/retailers improve operations via data-driven insights and consulting |
| SmartDisk Corporation | Sales/Management | Not disclosed | Prior commercial/ops experience in technology hardware |
| Toyota Motor Sales USA | Sales/Management | Not disclosed | Prior automotive retail/OEM sales experience |
Fixed Compensation
| Year | Base Salary ($) | Target STI (% of base) | Target LTI (% of base) | Notes |
|---|---|---|---|---|
| 2025 (contract) | $575,000 | 60% | 100% | New CEO agreement; auto-renews annually after initial 2-year term; one-time $150,000 equity signing bonus vesting 1/3 annually |
| 2024 (offer terms) | $350,075 | 50% | 50% (annual equity awards; RSUs) | Term through Sep 15, 2025; auto-renewable 1-year unless notice |
| 2024 (actual paid) | $385,801 | — | — | Summary Compensation Table actual salary paid |
Performance Compensation
| Component | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Short-Term Incentive (STI) | KPI goals tailored per component; most important measures: Revenue, Sales, Capital Raise | Not disclosed | Not disclosed | 2024 non-equity incentive paid: $74,216 | Cash award based on STI Plan |
| Long-Term Incentive (LTI) | RSUs: 50% performance-based RSUs tied to stock price targets; 50% time-based RSUs | 50% performance / 50% time | Stock price target levels not disclosed | Annual LTI target 100% of base for 2025 | Performance RSUs vest in four equal tranches upon stock price targets; time-based RSUs vest 1/3 annually |
2024 Equity Grants
| Grant Date | Instrument | Shares (#) | Grant Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|
| Jan 25, 2024 | RSUs | 16,107 | $39,623 | Correction of clerical error; RSU grant to fix prior omission |
| Apr 5, 2024 | RSUs | 63,570 | $176,088 | 50% vests on first anniversary; remaining 50% vests 1/3 annually thereafter per NEO practice |
2024 Vested Equity
| Year | Shares Vested (#) | Value Realized ($) |
|---|---|---|
| 2024 | 12,218 | $28,853 |
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial ownership (Apr 30, 2025) | 111,556 shares |
| Ownership as % of outstanding | <1% of 102,717,131 shares |
| Options exercisable | 54,000 shares |
| RSUs unvested (within 60 days) | 53,118 shares |
| Hedging/Pledging | Prohibited for directors/officers/employees |
| Market price used for MV calculations | $1.39 per share as of Dec 31, 2024 |
Options Outstanding (as of Dec 31, 2024)
| Grant Date | Options Exercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|
| May 6, 2021 | 18,000 | $32.27 | May 6, 2027 |
| May 6, 2021 | 18,000 | $32.27 | May 6, 2028 |
| May 6, 2021 | 18,000 | $32.27 | May 6, 2029 |
Options appear deeply out-of-the-money relative to $1.39 market price at year-end 2024, reducing near-term exercise incentives .
Upcoming RSU Vesting Schedules (select footnotes)
- RSUs vesting in full on Mar 21, 2025; immediate vesting upon change of control .
- RSUs vesting in two equal increments on Mar 15, 2025 and 2026; immediate vesting upon change of control .
- RSUs vesting in full on Apr 5, 2025; and in three equal increments on Apr 5, 2025, 2026, 2027; immediate vesting upon change of control .
- RSUs vested in full on Apr 1, 2025; and vesting in two equal increments on Apr 1, 2025 and 2026; immediate vesting upon change of control .
Employment Terms
| Term | Detail |
|---|---|
| CEO Employment Agreement | Two-year term from Feb 1, 2025, auto-renew for successive one-year periods unless notice |
| Base Salary | $575,000 |
| STI Target | 60% of base |
| LTI Target | 100% of base |
| Signing Equity Bonus | $150,000 restricted stock; vests 1/3 annually beginning first anniversary |
| Severance (no cause / good reason) | 12 months base salary plus target STI and LTI for year of termination; subject to release |
| Change of Control (CoC) | If termination occurs within six months before/after CoC: severance doubled; all unvested RSUs vest; performance RSUs vest prorated to performance at CoC |
| Clawback | Annual incentive and performance-based comp subject to Board discretionary clawback upon restatement or specified events |
| Confidentiality/Non-solicit | Confidentiality; 12-month non-solicit of customers and employees post-employment |
| Prior Offer Letter (COO) | Term through Sep 15, 2025 (auto-renew for one year); base $350,075; STI target 50%; annual equity awards 50% of base; severance up to 12 months base; CoC severance 12 months base; 12-month non-compete within 60 miles unless ends without cause or obtains non-competing role |
| Hedging/Pledging/Derivatives | Hedging, pledging, and derivative trading prohibited for insiders |
Board Governance and Director Compensation
- Board Service: Elected director Feb 1, 2025; serves on Growth & Strategy Committee; employee directors are not independent and are excluded from director independence counts . He does not participate in deliberations on his own compensation .
- Committee Roles: Growth & Strategy Committee member; committee chairs: Audit (Levine), Compensation (van Montfrans), Nominating/CGS (Crawford) .
- Board Operations: Board met 11 times in 2024; all directors attended ≥75% of meetings; independent directors meet in executive sessions as required by Nasdaq rules .
- Director Pay Plan (context): Non-employee directors receive $80,000 annual cash retainer plus committee chair/member supplements; annual equity grants targeting $150,000 ($180,000 for chair/lead independent director); employee directors are not paid separate board compensation .
Compliance, Transactions, and Risk Indicators
- Section 16 Compliance: One late Form 4 by Michael Battaglia; otherwise compliance met for 2024 .
- Related Party Transactions: None reportable under SEC rules since Jan 1, 2024 .
- Hedging/Pledging: Prohibited policy in place; derivative trading prohibited .
- Pension/Deferred Comp: No pension/SERP; no non-qualified deferred compensation .
Compensation Structure Analysis
- Mix shift and pay-for-performance: As CEO, larger at-risk equity via LTI target at 100% of base and STI at 60%; RSU structure splits time- vs performance-based awards keyed to stock price, increasing alignment with shareholder outcomes .
- Y/Y cash vs equity: 2024 actual compensation included $385,801 salary, $215,711 stock awards, and $74,216 cash incentive; 2025 contract increases fixed base to $575,000 but also increases at-risk STI/LTI targets, maintaining pay-at-risk emphasis .
- Equity award governance: Clawback policy and prohibition on hedging/pledging mitigate misalignment and risk; no gross-ups on director equity; equity awards tied to performance criteria reviewed annually .
- Option profile: Legacy 2021 options are far out-of-the-money relative to $1.39 year-end price, reducing short-term exercise/selling pressure; RSU vesting dates through 2027 may create periodic supply .
Investment Implications
- Alignment: The CEO agreement emphasizes high equity-linked compensation (LTI 100% of base; performance RSUs tied to stock price), plus clawbacks and hedging/pledging bans, supporting alignment with shareholders .
- Retention/Change-of-control: Severance of 12 months base + target STI/LTI, doubling within six months of CoC with accelerated RSU vesting and proration of performance RSUs, provides strong retention but also meaningful CoC economics that could influence strategic decisions in M&A scenarios .
- Trading signals: RSU vesting tranches in March/April 2025–2027 and the one-time signing grant may create episodic selling pressure; legacy options are currently OTM, limiting exercise-driven flow; note one late Form 4 in 2024 as a minor governance flag .
- Governance: Dual role as CEO and director with committee placement on Growth & Strategy is typical; independence safeguards include committee composition and his non-participation in his own pay deliberations; board appears active (11 meetings) with majority independent directors .