Bhaskar Panigrahi

About Bhaskar Panigrahi

Bhaskar Panigrahi, 55, serves as Chairman of the Board and Chief Executive Officer of ConnectM Technology Solutions, Inc. (CNTM), a role he has held since November 2015. He holds a BS in Computer Science from the National Institute of Technology, Suratkal, India, and has 25+ years as a serial entrepreneur and investor across technology and clean energy ventures . The filings do not disclose company TSR, quarterly revenue growth, or EBITDA growth for use in executive performance benchmarking; CNTM’s most recent financials and estimates were not available via our data tool, and the 10-K/10-Q excerpts provided do not include those metrics for this analysis .

Past Roles

External Roles

Fixed Compensation

Notes:

• CNTM discloses scaled EGC executive compensation; bonuses, stock awards, options, and non‑equity incentives for Mr. Panigrahi were not recorded in 2022–2024 .

Performance Compensation

• No annual bonus, equity awards (RSUs/PSUs), stock options, or non‑equity incentive payouts were disclosed for Mr. Panigrahi for FY 2022–FY 2024 under scaled EGC reporting; no employment agreements or offer letters for NEOs are in place .
• CNTM adopted a 2023 Equity Incentive Plan with minimum one‑year vesting, no single‑trigger CoC acceleration, no repricing, and no dividends on unvested awards; awards may be accelerated or cashed‑out at Committee discretion upon Change in Control. The plan is approved (July 12, 2024) but shows no grants to date; NEO outstanding awards table does not list awards for Mr. Panigrahi in 2024 .

Equity Ownership & Alignment

• Breakdown: consists of (i) shares held via Avanti Holdings LLC, (ii) direct shares held by Mr. Panigrahi, and (iii) shares held via Southwood Partners LP; Mr. Panigrahi is a controlling equityholder of Avanti Holdings LLC and Southwood Partners LP with voting/dispositive power over these shares .
• Options/derivatives: No options for Mr. Panigrahi are disclosed among outstanding awards as of FY 2024; other NEOs show legacy options with $0.50–$0.70 strikes and ten‑year terms (indicative of employee equity practices pre‑Business Combination), but not attributed to Mr. Panigrahi .
• Stock ownership guidelines, hedging/pledging: Not disclosed for CNTM; no pledging reported in filings reviewed .

Employment Terms

Board Governance

• Roles: Mr. Panigrahi is both Chief Executive Officer and Chairman; filings are signed in those capacities, indicating a combined leadership structure .
• Committees: The Board maintains Audit, Compensation, and Nominating and Corporate Governance committees; independent directors serve on these (committee membership indicated for Kathy Cuocolo, Stephen Markscheid, and Gautam Barua) .
• Director compensation: CNTM did not maintain a formal non‑employee director compensation program in 2024; directors received no compensation in 2024; CEO received no incremental pay for the Chair role .
• Board actions affecting trading signals: Special meetings proposed reverse stock split (1:5 to 1:8), authorized share increase to 250,000,000, and approval of up to 25,000,000 shares issuance under SEPA; these actions increase flexibility for capital raising and may affect dilution/float dynamics .

Performance & Track Record

• Certifications: Mr. Panigrahi signed SOX 302 and 906 certifications on recent 10-Q/10-K filings as principal executive officer, indicating responsibility for disclosure controls and financial reporting .
• Financial statement correction: The Q3 2025 10-Q exhibits list “Details of the Correction of the Previously Issued Financial Statements,” flagging recent remediation and internal control considerations for investors .
• Financing/capital structure actions: SEPA share issuance proposal and reverse split authorization; certificates of designations for Series A and B Convertible Preferred; forms of convertible notes and exchange agreements appended to the 10-Q, highlighting ongoing balance sheet financing activity .

Compensation Structure Analysis

• Cash vs equity mix: Mr. Panigrahi’s disclosed compensation over 2022–2024 is entirely base salary, with no reported bonuses or equity awards under EGC scaled disclosure, suggesting low reported “at‑risk” pay thus far .
• Program evolution: CNTM intends to develop a more formal executive and director compensation program (including equity) administered by the Compensation Committee; 2023 Plan terms prioritize governance (minimum vesting; no single‑trigger; no repricing) .
• Equity award practices: No grants under the 2023 Plan were reported to date; legacy options remain outstanding for other NEOs, not for Mr. Panigrahi .

Equity Ownership & Alignment — Additional Details

• Alignment: High beneficial ownership with control through affiliated entities aligns interests with shareholders; ownership percentage declined over time due to increases in shares outstanding (e.g., share count changes from 21.2M to 71.3M) .
• Pledging/hedging: No pledging or hedging disclosures for Mr. Panigrahi in reviewed filings; stock ownership guidelines not specified for executives/directors .

Employment & Contracts — Additional Considerations

• Non‑compete, non‑solicit, garden leave, consulting: Not disclosed in reviewed filings .
• Change‑of‑control economics: Equity plan permits Committee discretion (accelerate/cash‑out/assume/terminate awards) rather than automatic vesting; actual severance multiples not disclosed .

Investment Implications

• Governance structure: Combined CEO/Chair role can centralize decision‑making; investors typically monitor the presence and empowerment of independent directors/committees to mitigate potential independence concerns .
• Pay-for-performance alignment: Low reported variable pay for the CEO under EGC scaled disclosure may indicate lagging formal incentive alignment relative to peers; however, the planned compensation program and the 2023 Plan framework provide mechanisms to increase performance‑linked equity over time .
• Ownership and potential selling pressure: Significant beneficial holdings via Avanti Holdings LLC and Southwood Partners LP support alignment but can become selling overhang if liquidity needs arise; no pledging/hedging prohibitions or compliance disclosures were found for CNTM in the excerpts reviewed .
• Capital structure/trading signals: Recent and proposed actions (reverse split authorization, authorized share increase, SEPA up to 25M shares, convertible preferred/notes forms in exhibits) point to active capital raising needs and potential dilution, increasing sensitivity of equity valuation to financing cadence and terms .
• Controls and reporting: Presence of “correction of previously issued financial statements” exhibits and repeated SOX certifications warrant continued monitoring of remediation progress and audit committee oversight .

All information above is taken from CNTM SEC filings and the company’s proxy statements. Where specific compensation, vesting, and policy details were not disclosed, items are omitted per disclosure limits.