Shirin Saleem
COGNEXAbout Shirin Saleem
Shirin Saleem is Vice President, Software Engineering at Cognex (CGNX), leading all software engineering teams to strengthen Cognex’s software stack and build a cohesive product ecosystem; she joined Cognex in May 2023 after two decades in AI applications, was a founding member of Amazon’s Alexa AI team focused on far‑field speech recognition for the Echo, and holds an M.S. in Computer Science from Carnegie Mellon University and a B.E. in Electronics & Communication from NIT Karnataka, India . During her tenure, Cognex delivered FY2024 revenue of $915M with operating margin of 13% and adjusted EBITDA percentage of 17.1%; in 2025 YTD, adjusted EBITDA margin expanded to 16.8% in Q1 and 20.7% in Q2 . She is a core presenter on Cognex’s ecosystem strategy and product execution at Investor Day 2025 (OneVision cloud platform, AI models in VisionPro Deep Learning, and easy‑to‑deploy products), directly tied to management’s five‑year objectives to lead industrial AI, double served customers, and achieve #1/#2 market positions .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Amazon | Founding member, Alexa AI; far‑field speech recognition | Not disclosed | Led advances in far‑field speech recognition culminating in Amazon Echo launch |
External Roles
No external board or public company directorships disclosed in Cognex filings reviewed .
Fixed Compensation
Not disclosed for Ms. Saleem (she is not a “named executive officer” in the proxy; detailed salary/bonus tables cover CEO, CFO, Controller, EVP Vision & ID, EVP Employee Services, and CTO only) .
Performance Compensation
Cognex’s executive incentive framework (applies to named executive officers; Ms. Saleem’s specific metrics/payouts are not disclosed):
- Annual bonus metric: adjusted EBITDA percentage; 2024 target 19.6%, actual 17.1%, yielding corporate achievement of 64% of target; “Pmax” allows above‑target payout by level when adjusted EBITDA exceeds target (CEO Pmax reduced from 350% to 250% starting 2025) .
- Individual goals weighting: 80% objective, 20% subjective for named executive officers .
- Equity mix (2024): roughly 2/3 stock options, 1/3 RSUs for executives; changed in 2025 to 1/3 options with introduction of PRSUs tied to multi‑year financial metrics for executive officers .
| Metric | 2024 Target | 2024 Actual | Corporate Achievement / Payout Basis | Notes |
|---|---|---|---|---|
| Adjusted EBITDA % | 19.6% | 17.1% | 64% of target payout cap for all participants | Pmax structure above target; CEO Pmax reduced to 250% for 2025 |
| Individual Goals Weighting | 80% objective | 20% subjective | Applies to named executive officers | Goal details not publicly disclosed for competitive reasons |
Equity award vesting constructs used at Cognex (for executives generally):
| Instrument | Vesting Schedule | Performance Conditions | Notes |
|---|---|---|---|
| Stock Options | 20% per year over 5 years | None (time‑based) | Exercise price = closing price at grant; value only if stock appreciates |
| RSUs | 20% / 30% / 50% over 3 years | None (time‑based) | Standard executive grants follow this schedule |
| PRSUs | 3‑year measurement | TSR percentile vs index: <25th=0%; 25th=50%; 55th=100%; ≥75th=150%; if TSR negative, cap at 100% | Expanded to executives in 2025; alignment to long‑term value creation |
Equity Ownership & Alignment
- Section 16 status: Ms. Saleem is not identified among officers adopting Rule 10b5‑1 plans in Q3 2025 10‑Q; named officers under Section 16 in disclosures include the CFO and EVP Vision & ID (others as applicable), suggesting she is not a Section 16 reporting officer and her beneficial ownership and Form 4 trading are not routinely disclosed in SEC officer lists reviewed .
- Company policy: short sales prohibited for all employees; directors/executive officers prohibited from exchange‑traded options/derivatives on Cognex stock; pledging by directors/executive officers requires Compensation Committee approval .
- Executive stock ownership guidelines: CEO 3x base salary; other executive officers 2x base salary, with five years to comply; measured annually; Ms. Saleem is not listed as an executive officer in the proxy .
| Policy Element | Rule | Scope |
|---|---|---|
| Short sales | Prohibited | All employees; violators subject to termination |
| Derivative hedging | Prohibited | Directors and executive officers |
| Pledging | Requires approval | Directors and executive officers |
| Executive ownership | CEO 3x salary; others 2x salary | Executive officers; 5 years to comply |
Employment Terms
No employment agreement, severance, change‑of‑control, non‑compete, or garden‑leave terms disclosed for Ms. Saleem in reviewed filings. Cognex discloses double‑trigger accelerated vesting for certain named executive officers upon change of control and involuntary termination; CEO PRSUs vest on single‑trigger change of control based on measured TSR percentile, reflecting board’s view that CEO employment likely would not continue post‑transaction .
Company Performance Context (during Ms. Saleem’s tenure)
| Metric | FY 2024 |
|---|---|
| Revenue ($USD Millions) | $915 |
| Operating Margin % | 13% |
| Adjusted EBITDA % | 17.1% |
| Metric | Q1 2025 | Q2 2025 |
|---|---|---|
| Adjusted EBITDA Margin % | 16.8% | 20.7% |
Additional context:
- Q1 2025 revenue $216M; adjusted EPS $0.16; operating margin 12.1% .
- Strategic execution highlights include OneVision cloud platform launch and ecosystem focus; leadership team refresh with Ms. Saleem explicitly named VP Software Engineering .
Compensation Committee Analysis and Governance
- Independent Compensation/Stock Option Committee; uses Pay Governance as independent advisor; peer group includes AspenTech, Coherent, Dolby, IPG Photonics, Manhattan Associates, Novanta, Onto Innovation, PTC, Silicon Labs, Symbotic, Teledyne, Trimble, Zebra; program targets low base salaries, median annual bonuses, and above‑median equity for long‑term alignment .
- Clawback policy adopted Aug 2023 per Dodd‑Frank/Nasdaq, covers incentive comp received within three completed fiscal years preceding an accounting restatement .
- Say‑on‑pay: 2024 approval ~65%; 2025 program changes introduced to address shareholder feedback on bonus disclosure and performance‑based equity .
| Say‑on‑Pay | 2024 Result |
|---|---|
| Approval % | ~65% |
Performance & Track Record
- Product execution: led launches of AI‑powered barcode readers and advanced AI models integrated into VisionPro Deep Learning; role as key presenter on ecosystem strategy and AI deployment ease‑of‑use .
- Strategic fit: remit directly aligns to strategic priorities to be #1 in industrial AI, deliver best customer experience, and double customers served over five years, supporting top‑line growth and margin expansion targets .
Investment Implications
- Execution leverage: Ms. Saleem’s leadership over software and OneVision ecosystem is central to Cognex’s AI‑led product differentiation and ease‑of‑deployment—key to doubling customers and sustaining adjusted EBITDA margins in the 20–30% framework over the cycle .
- Alignment and trading signals: She is not identified as a Section 16 officer; thus, Form 4 visibility and 10b5‑1 plan disclosures are limited, reducing direct insider‑sell pressure signals; company‑wide prohibitions on short‑selling/derivative hedging and approval controls for pledging mitigate misalignment risk .
- Pay‑for‑performance culture: While her specific compensation is undisclosed, executive program changes toward PRSUs and reduced option weight indicate stronger multi‑year performance linkage across leadership, supportive of retention and long‑term value creation if execution on AI ecosystem continues .