Greg Maes
About Greg Maes
Gregoire (Greg) Maes, age 52, serves as Chief Operating Officer (COO) of CompoSecure and joined the company in January 2020 after 25 years with global card manufacturers; prior roles include Global COO at ABCorp (2014–Jan 2020), Service Center Operations Director, Asia Pacific at Oberthur Technologies (2013–2014), and COO at ABnote Australia (2007–2013). He holds a Chemistry and Physics degree from the Graduate School of Chemistry and Physics of Bordeaux, France . Company operating performance during his tenure includes Q2 2025 Non-GAAP net sales of $119.6 million (+10% YoY), Pro Forma Adjusted EBITDA of $46.3 million (+26% YoY), and guidance for FY 2025 of approximately $455 million Non-GAAP net sales and ~$158 million Pro Forma Adjusted EBITDA; management highlighted manufacturing efficiency gains and rollout of the CompoSecure Operating System across functions as drivers of gross margin expansion to 57.5% in Q2 2025 .
Company operating performance (illustrative, oldest to newest)
| Metric | Q2 2024 | Q2 2025 |
|---|---|---|
| Non-GAAP Net Sales ($USD Millions) | $108.6 | $119.6 |
| Gross Margin (%) | 51.6% | 57.5% |
| Pro Forma Adjusted EBITDA ($USD Millions) | $36.7 | $46.3 |
| FY 2025 Guidance: Non-GAAP Net Sales ($USD Millions) | — | ~$455 |
| FY 2025 Guidance: Pro Forma Adjusted EBITDA ($USD Millions) | — | ~$158 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ABCorp | Global Chief Operating Officer | 2014–Jan 2020 | Global operations leadership at a provider across commercial, financial, government, healthcare sectors |
| Oberthur Technologies | Service Center Operations Director, Asia Pacific | 2013–2014 | Regional service center operations oversight in APAC |
| ABnote Australia Pty Ltd | Chief Operating Officer | 2007–2013 | Country COO responsibilities in payments/manufacturing |
External Roles
No public company directorships or external board roles disclosed for Maes .
Fixed Compensation
- CompoSecure is an “emerging growth company” and uses reduced executive compensation disclosure limited to named executive officers (NEOs); Maes was not an NEO in 2024, and his base salary, target bonus, and equity grant details were not disclosed .
Stock ownership policy (company-wide)
- Mandatory stock ownership guidelines apply to the CEO, other executive officers, and non-employee directors; multiples of salary/retainer are: CEO 6x base salary, other named executive officers 3x base salary, other senior leadership team 1x base salary; includes directly/indirectly owned shares, vested and unvested time-based RSUs, and vested PSUs; excludes unvested PSUs and unexercised options; expected to meet guidelines within five years .
- Insider Trading Policy prohibits short sales and purchasing hedging instruments (e.g., prepaid variable forwards, swaps, collars, exchange funds) without pre-approval; designed to prevent hedging/offsetting decreases in equity value .
Performance Compensation
CompoSecure emphasizes variable, performance-based pay via annual cash incentives and long-term equity (RSUs, PSUs, options) for its senior leadership; the NEO plan in 2024 weighted net revenues at 60% and Adjusted EBITDA at 40%, with payouts scaled from 0–200% around target; the Compensation Committee determined 2024 payments at 97% of target at the company level (with discretion for limited individual adjustments). In 2025, the long-term plan shifted to service-based RSUs that vest on the 3rd, 5th, and 7th anniversaries, to simplify and strengthen retention; specific metric targets and awards for Maes were not disclosed .
2024 annual cash incentive design (company-level NEO plan; Maes participation not disclosed)
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Net Revenues | 60% | Company-set 2024 target | Assessed by committee | 97% of target (company-level) | Cash bonus, annual |
| Adjusted EBITDA | 40% | Company-set 2024 target | Assessed by committee | 97% of target (company-level) | Cash bonus, annual |
2025 long-term incentive structure (company-wide)
| Instrument | Vesting schedule | Notes |
|---|---|---|
| RSUs | 1/3 on the 3rd, 5th, and 7th anniversaries of grant | 2025 LTIP consists exclusively of RSUs; shift intended to improve retention and simplicity |
Equity Ownership & Alignment
- Beneficial ownership for Maes is not disclosed in the 2025 proxy or subsequent filings; security ownership tables cover directors and NEOs, not all executive officers .
- Stock ownership guidelines (see above) and anti-hedging rules apply; no pledging disclosures for Maes were identified .
Employment Terms
- Employment start: January 2020 (COO) .
- At-will employment: Company’s executive offer letters state employment is at-will; this construct appears consistently in executive documentation (illustrative example from executive offer letter exhibits) .
- Executive Severance Plan (adopted Oct 2, 2025): Participation requires a signed agreement; benefits for a Qualifying Termination (without cause) include base salary and target bonus for 12 or 24 months (role dependent), lump-sum COBRA premiums for 12/24 months, and 6 months outplacement; vested options remain exercisable for 90 days post-termination (not beyond the 10th anniversary of grant). The plan requires compliance with restrictive covenants .
Executive Severance Plan features
| Component | Terms |
|---|---|
| Applicable Multiple | 12 or 24 months of base salary + target bonus (participant and level dependent) |
| COBRA | Lump-sum equal to COBRA premiums for 12/24 months |
| Outplacement | 6 months (must commence within 90 days of termination) |
| Options | Vested options remain exercisable until the 90th day post-termination, not beyond 10th anniversary of grant |
| Release requirement | General release signed within 55 days; payments contingent on release and covenant compliance |
| Clawback | Company compensation recoupment policy effective Oct 2, 2023 (extends beyond executive officers to senior leadership) |
| Tax gross-ups | No excise tax gross-ups (company executive compensation best practices) |
Restrictive covenants (executive plan/agreements)
| Covenant | Duration | Scope |
|---|---|---|
| Non-compete | 24 months post-termination | Metal/metal-hybrid financial transaction cards; consumer crypto/digital asset products/services; any business/venture the company engages in/plans during employment; global scope |
| Non-solicit employees | 24 months post-termination | Prohibits hiring/soliciting company/affiliate employees, consultants, contractors (with limited general solicitation allowance) |
| Non-solicit customers | 24 months post-termination | Prohibits solicitation/diversion of customers/prospects for competitive offerings |
Additional observations on vesting and insider selling pressure
- Company-wide RSU/PSU/options activity in Q3 2025 shows continuing long-duration vesting and meaningful unrecognized option compensation expense; however, these are aggregate disclosures and not specific to Maes .
- Among the 100 most recent CMPO SEC filings reviewed (2024–2025), we did not locate any Form 4 filings attributed to Greg Maes; recent Section 16 activity includes a new CFO’s Form 3 and director/insider administrative POAs, suggesting limited disclosed insider selling by Maes in this period, but this is not conclusive for all prior years .
Investment Implications
- Retention risk appears mitigated by long-duration RSU vesting (3/5/7-year schedule under the 2025 LTIP) and 24-month post-termination non-compete, which together promote tenure for senior operators like the COO .
- Alignment signals include mandatory stock ownership guidelines and a company-wide clawback policy; hedging is prohibited, reducing misalignment risks from derivative positions; no pledging disclosures for Maes were identified .
- While Maes’ personal pay mix and award sizes are not disclosed, company performance under his operational remit shows margin expansion and raised 2025 guidance, supportive of pay-for-performance frameworks that emphasize Adjusted EBITDA and revenue growth across leadership teams .
- Near-term insider selling pressure from Maes is not evident in 2025 filings reviewed; ongoing buybacks and operational strength may reduce supply overhang, but absence of Maes-specific ownership and vesting detail limits precision in modeling his potential sales cadence .