Adam Lowe
About Adam Lowe
Dr. Adam Lowe (age 40) is CompoSecure’s Chief Product & Innovation Officer, a role he has held since April 2022; he joined the company in January 2014 and previously served as Chief Innovation Officer (January 2020–April 2022) and VP, R&D (promoted June 2018) . He holds an MBA from Cornell’s Johnson Graduate School of Management, a PhD in microbiology from Cornell University, and a biology degree from Salisbury University . His 2024 annual incentive was tied to net revenues (60% weighting) and Adjusted EBITDA (40%), and he received 111% of target ($300,000 actual) after a committee adjustment, indicating near-target company performance on those measures for 2024 . As of April 3, 2025, he beneficially owned 521,057 shares of Class A Common Stock (<1% of outstanding) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CompoSecure | Chief Product & Innovation Officer | Apr 2022–present | Leads product and innovation agenda for core and new offerings |
| CompoSecure | Chief Innovation Officer | Jan 2020–Apr 2022 | Directed company-wide innovation initiatives |
| CompoSecure | Vice President, R&D | Jun 2018–Jan 2020 | Led R&D function |
| CompoSecure | Senior Materials Development Engineer; roles of increasing responsibility | Jan 2014–Jun 2018 | Advanced materials and product development |
| SRC (not-for-profit R&D company) | Principal Research Scientist | 2011–2013 | Applied research leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Syracuse University, Forensic & National Security Sciences Institute | Adjunct Fellow | 2012–2018 | Academic/industry collaboration in security sciences |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 437,774 | 450,880 (3% increase) |
| Target Bonus (% of salary) | Not disclosed | 60% (target $270,530) |
| Actual Annual Bonus ($) | 186,482 | 300,000 (111% of target; includes 5% discretionary uplift) |
| 401(k) Match/All Other Comp ($) | 9,143 | 4,179 |
Performance Compensation
Annual Cash Incentive (2024 MIP)
| Metric | Weighting | Target | Actual Company Payout (% of target) | Individual Adjustment | Adam Lowe Payout |
|---|---|---|---|---|---|
| Net Revenues | 60% | Not disclosed | 97% (company-wide) | +5% (extraordinary performance) | $300,000 |
| Adjusted EBITDA | 40% | Not disclosed | 97% (company-wide) | +5% (extraordinary performance) | $300,000 |
Notes: Payout curve ranged from 0% (below threshold) to 200% (maximum) with linear interpolation; committee had ±10% discretion; Lowe received 111% of target after adjustment .
Long-Term Equity Awards
Shares granted and vesting
| Grant Year | Grant Date | Instrument | Shares (#) | Vesting |
|---|---|---|---|---|
| 2024 | Mar 15, 2024 | RSUs | 221,773 | 1/3 on Jan 1, 2025; 1/3 on Jan 1, 2026; 1/3 on Jan 1, 2027 |
| 2024 | Mar 15, 2024 | PSUs (target) | 110,886 | Two-year performance period (2024–2025) plus one additional service year; cliff vest after three years; 0%–200% payout |
| 2023 | Mar 9, 2023 | RSUs | 130,976 | 1/3 on Jan 1, 2024; 1/3 on Jan 1, 2025; 1/3 on Jan 1, 2026 |
| 2023 | Mar 9, 2023 | PSUs (target) | 65,488 | 69.6% earned as of Jan 1, 2025; vest on Jan 1, 2026 |
Aggregate grant date fair value (RSUs + PSUs, at target)
| Year | Stock Awards ($) |
|---|---|
| 2023 | 1,375,248 |
| 2024 | 1,656,639 |
Program design notes
- 2024 LTI mix: ~67% RSUs and ~33% PSUs (PSUs up to 200% of target) .
- 2025 LTIP change: awards consist exclusively of RSUs vesting in 1/3 increments on the 3rd, 5th, and 7th anniversaries (greater emphasis on service-based retention; removes PSUs) .
Equity Ownership & Alignment
Beneficial ownership (as of April 3, 2025)
| Holder | Shares | % Outstanding |
|---|---|---|
| Dr. Adam Lowe | 521,057 | <1% |
Outstanding equity awards (as of Dec 31, 2024)
| Grant Date | Unvested RSUs/Stock Awards (#) | Market Value ($) | Unvested PSUs at Target (#) | Market/Payout Value ($) |
|---|---|---|---|---|
| Mar 15, 2024 | 221,773 | 2,823,170 (at $12.73) | 110,886 | 1,411,579 |
| Mar 8, 2023 | 132,897 | 1,691,774 (at $12.73) | — | — |
| Mar 16, 2022 | 300,000 | 3,819,000 (at $12.73) | — | — |
Ownership policies and practices
- Stock ownership guidelines: CEO 6x base salary; other Named Executive Officers 3x base salary; compliance expected within 5 years; counts direct/indirect shares and RSUs (vested/unvested) and vested PSUs; excludes unvested PSUs and unexercised options .
- Hedging/speculative trading prohibited (no short sales, options, swaps, collars, exchange funds) .
- Pledging: No explicit pledging policy disclosure; no pledging reported for Dr. Lowe in beneficial ownership table .
- Options: No stock options reported for Dr. Lowe in 2024; outstanding options table shows none for Lowe .
Employment Terms
| Topic | Key Terms |
|---|---|
| Employment Agreement | Dr. Lowe has an employment agreement with base salary, target bonus, eligibility for annual LTI; initial “Staking Grant” upon agreement inception . |
| Severance (no CIC) | If terminated without Cause or resigns for Good Reason (outside 2 years of a Change in Control): cash severance equal to 1x (base salary + target bonus), payable over 1 year; pro-rata vesting of equity (performance-vested at target); lump-sum COBRA cost for 12 months . |
| Severance (within 2 years of CIC) | Double-trigger: cash equal to 1x (base salary + target bonus) plus pro-rata annual bonus for year of termination based on actual performance; time-vested equity vests immediately; performance-vested equity vests based on actual performance as of CIC; plus COBRA payment . |
| Non-Compete/Non-Solicit | Non-compete and non-solicit during employment and for 24 months post-termination . |
| Clawback | Company-wide clawback policy (effective Oct 2, 2023) requiring recovery of erroneously awarded incentive-based compensation in event of restatement; applied to entire senior leadership team . |
Performance Compensation Linkage
| Element | Metrics | Weighting | Notes |
|---|---|---|---|
| 2024 Annual Bonus | Net Revenues; Adjusted EBITDA | 60%; 40% | Company payout 97% of target; Lowe paid 111% of target with +5% discretion . |
| 2024 PSUs | Multi-year financial targets (not disclosed) | — | Two-year performance period (2024–2025), plus one service year; 0%–200% payout . |
| 2023 PSUs | Multi-year financial targets | — | 69.6% of target earned as of Jan 1, 2025; vest on Jan 1, 2026 . |
| 2025 LTIP | Service-based RSUs only | — | Vests 1/3 at years 3, 5, 7; simplifies program and emphasizes retention . |
Compensation Governance, Peer Group, and Say-on-Pay
- Compensation Committee members in 2024 included independent directors; committee oversees CEO and NEO pay, incentive plans, ownership guidelines, and clawback .
- Compensation consultant: FW Cook through September 2024; Semler Brossy engaged thereafter; independent under Nasdaq/SEC standards .
- 2024 compensation peer group included payments/fintech and related firms (e.g., EVERTEC, Green Dot, CPI Card Group), supplemented with survey data; additional small asset manager peer set added in September 2024 to reflect strategic M&A priorities .
- As an Emerging Growth Company/Smaller Reporting Company, CMPO is not yet required to hold say-on-pay; it will do so when required .
Investment Implications
- Alignment and retention: Lowe’s pay mix is equity-heavy with multi-year vesting and sizeable unvested RSUs/PSUs outstanding, which promotes retention and alignment; 2025’s shift to long-dated, service-based RSUs further increases retention incentives but reduces explicit performance linkage in LTI .
- Performance sensitivity: Annual bonus tied to revenue and Adjusted EBITDA produced near-target payout for 2024; committee discretion (+5%) drove Lowe’s 111% payout, signaling recognition of role-specific performance even amid modest variance to targets .
- Risk controls: Double-trigger CIC protection, 24-month non-compete/non-solicit, and a broad clawback reduce adverse incentive risk and potential misalignment; hedging is prohibited, and no pledging is disclosed for Lowe .
- Ownership: Lowe owns 521,057 shares (<1%); combined with unvested awards, he has meaningful skin-in-the-game though not a controlling stake; stock ownership guidelines require NEOs to reach 3x salary within 5 years, reinforcing alignment (compliance status not disclosed) .