Darren Long
COGNEXAbout Darren Long
Darren Long is Vice President, Customer Success at Cognex (CGNX), leading global support and services across all products and regions. He joined Cognex in December 2014 and has more than two decades of experience in complex, customer-facing, global project environments. He holds an MBA from De Montfort University (U.K.). Prior roles include nine-plus years at Mettler Toledo and more than seven years at Bombardier Transportation managing large-scale international projects .
Company performance context during his tenure is shown below (revenues and EBITDA are company-level, not Darren-specific).
| Company Metric | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenues (USD) | $426,449,000* | $450,557,000* | $529,515,000* | $766,083,000* | $806,338,000* | $725,625,000* | $811,020,000* | $1,037,098,000* | $1,006,090,000* | $837,547,000* | $914,515,000* |
| EBITDA (USD) | $140,319,000* | $140,662,000* | $169,135,000* | $275,852,000* | $242,691,000* | $167,502,000* | $232,527,000* | $335,384,000* | $288,286,000* | $144,582,000* | $147,754,000* |
| Values retrieved from S&P Global.* |
Past Roles
| Organization | Role(s) | Years | Strategic impact |
|---|---|---|---|
| Mettler Toledo | Various leadership roles spanning execution, support, and technology | 9+ years | Led customer-facing operations and technology-support functions in complex global settings . |
| Bombardier Transportation | Key positions managing large-scale international projects | 7+ years | Delivered execution on multi-country programs and customer satisfaction initiatives . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships or external board roles disclosed in company materials searched . |
Fixed Compensation
- Not disclosed for Mr. Long (he is not a Named Executive Officer in the proxy). Cognex sets target bonuses for vice presidents within ~10% of the median of its compensation peer group and administers executive pay via the Compensation/Stock Option Committee with independent consultant Pay Governance LLC .
Performance Compensation
Cognex’s annual executive bonus structure (applies company-wide, including VPs) combines a company profitability metric and individual goals.
| Component | Metric/Definition | 2024 Target | 2024 Actual | Payout Mechanics | Notes |
|---|---|---|---|---|---|
| Corporate factor | Adjusted EBITDA percentage (Adjusted EBITDA/Revenue; excludes amortization, D&A; may exclude restructuring, acquisition/integration, and discrete events per program) | 19.6% | 17.1% | Straight-line from 0% at 12.7% (minimum) to 100% at 19.6%; at 17.1% the corporate cap was 64% of target bonus | For 2024, “no employee, including named executive officers, could earn more than 64% of target bonus amount” due to corporate result . |
| Individual goals | 80% objective, 20% subjective (for named executive officers) | Set annually | Assessed post-year | Multiplies the corporate factor outcome | Goals aligned to strategic priorities; specific goals not disclosed for competitive reasons . |
| Pmax (leverage) | Max percent of target bonus based on exceeding target adjusted EBITDA | Set by level | N/A for 2024 (below target) | Funded from EBITDA above target up to Pmax by level | Establishes upside when above target; CEO Pmax reduced in 2025 from 350% to 250% . |
Equity Ownership & Alignment
| Policy/Item | Detail | Implications |
|---|---|---|
| Stock ownership guidelines (executives) | CEO: 3x base salary; other executive officers: 2x base salary; 5 years to comply; measured annually. As of record date, all executive officers were making satisfactory progress . | Aligns executive wealth with shareholder outcomes; for Mr. Long, the 2x base salary guideline would apply as an executive officer (timing based on role/promotion date) . |
| Hedging/derivatives | Directors and executive officers prohibited from trading exchange-traded options or derivatives to hedge company stock . | Reduces misalignment risk. |
| Pledging | Directors and executive officers prohibited from pledging shares without Compensation/Stock Option Committee approval . | Limits leverage/forced-sale risk; no pledging by Mr. Long is disclosed in public sources searched . |
| Clawback | Dodd-Frank/Nasdaq compliant policy adopted Aug 2023; recovers incentive-based comp upon accounting restatement for covered periods . | Lowers incentive to misstate results and enforces pay-for-performance integrity. |
Equity Program Design and Vesting
| Instrument | Standard vesting terms at Cognex | Notes |
|---|---|---|
| Stock options | Generally vest over 5 years, 20% per year for executives; some one-off grants vest in two equal installments at 4 and 5 years (e.g., for new hires) . | Cognex favors options (2/3 of exec equity value) to align value creation with stock price appreciation . |
| RSUs (time-based) | Three-year vesting: 20% in year 1, 30% in year 2, 50% in year 3 . | Creates lumpy vesting that may concentrate settlement windows. |
| PRSUs (performance) | CEO program tied to relative TSR over three years with 0–150% payout; expanded PRSUs to executive officers in 2025 based on financial targets over three years . | PRSUs add performance linkage; 2022 CEO tranche paid 0% due to TSR below 25th percentile . |
Employment Terms
| Term | Cognex disclosure (executive officers) | Detail and triggers |
|---|---|---|
| Change-of-control equity treatment | Double-trigger acceleration for executive officers (other than CEO PRSUs): immediate vesting requires both a “change of control” and involuntary termination within 12 months (without cause or for good reason) . | CoC defined as prior holders controlling <51% post-transaction; “good reason” includes material diminution of duties or required relocation >50 miles . |
| CEO PRSUs (reference) | Single-trigger vesting upon CoC with payout based on TSR performance multiplier through the day before CoC . | CEO-specific term; not applicable to Mr. Long. |
| Cash severance multiples | Not disclosed in 2025 proxy for executive officers (focus is on equity acceleration provisions) . | No public detail on salary/bonus multiples for non-NEOs. |
| Employment agreement | No individual contract for Mr. Long is disclosed in the proxy or 10-K; committee administers compensation programs . | — |
Performance & Track Record (role-specific highlights)
- Role scope: Leads global customer support and service, ensuring a consistent customer experience worldwide .
- Tenure: Joined Cognex in December 2014; promoted to VP, Customer Success and listed on leadership team in 2025 press releases and investor materials .
- Background credibility: MBA, extensive customer success and operational leadership across Mettler Toledo and Bombardier; aligns with Cognex’s strategic focus on Customer Centricity and AI-driven product support .
Governance & Policies (relevant to incentives and trading signals)
| Topic | 2024–2025 disclosure | Relevance |
|---|---|---|
| Compensation governance | Independent consultant (Pay Governance) engaged since 2020; committee oversees executive comp, stock plans, and ownership guideline compliance . | Reduces risk of conflicted pay design. |
| Section 16 compliance | Company states executive officers and directors complied with Section 16(a) reporting in FY 2024 . | Lowers undisclosed trading risk signals. |
| Insider trading policy | Filed as Exhibit to 10-K; quiet-periods enforced; hedging/pledging restrictions summarized above . | Controls for trading behavior. |
Investment Implications
- Alignment: Mr. Long’s pay is likely dominated by at-risk elements (corporate profit factor and equity) given Cognex’s program design; RSU 20/30/50 and 5-year option schedules suggest increasing alignment over tenure and potential lumpy vesting windows that could create intermittent selling pressure around vest dates if he receives time-based RSUs consistent with program norms .
- Risk controls: Ownership guidelines (2x salary for executive officers), prohibitions on hedging, and committee-controlled pledging materially reduce misalignment or leverage-driven selling risk .
- Retention: Double-trigger equity acceleration protects executives in a sale scenario; absence of disclosed cash severance multiples for non-NEOs places more emphasis on unvested equity value for retention (particularly options, which Cognex favors) .
- Performance sensitivity: 2024’s sub-target adjusted EBITDA percentage capped corporate bonuses at 64% of target for all employees, reinforcing pay-for-performance and indicating downside variability in cash incentives tied to profitability cycles .
References:
- Darren Long profile and tenure/education: Cognex senior management page and Darren Long bio .
- Leadership team press release listing Mr. Long and scope: Cognex PR and IR site .
- Executive comp structure, bonus mechanics, Pmax, 2024 results, ownership guidelines, hedging/pledging, vesting standards, clawback, CoC terms: 2025 DEF 14A .
- Insider trading policy (10-K Exhibit): 2024 10-K .
- Company financials table (About section): Revenues and EBITDA via S&P Global (see asterisk note).