Girish Subramanya
About Girish Subramanya
Global Chief Technology Officer (CTO) of ConnectM (CNTM), serving in senior roles since November 2007 and leading India operations since June 2018; age 48; Master of Computer Applications (DOEACC, New Delhi). Background spans product leadership and entrepreneurship across IoT, PaaS and a 2020 pivot of India operations toward EV-centric solutions adopted by 10+ OEMs/infra providers . As an EGC, CNTM provides scaled compensation disclosure with no CD&A; for 2022–2024, his comp was primarily base salary with no bonuses or equity grants recorded in the Summary Compensation Table . He is a named executive officer, beneficially owning 431,775 CNTM shares (1.5% as of 12/31/2024; 1.2% as of 3/17/2025) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ConnectM Technology Solutions | Co‑founder; Global CTO; Head, India Ops | Since Nov 2007; Head India since Jun 2018 | Conceived and built core platform/PaaS; pivoted India business in 2020 to EV solutions adopted by 10+ OEMs/infra providers |
| i2 Technologies | Product management | Not disclosed | Supply chain technology product roles |
| Integral Systems | Product management | Not disclosed | Currency technology for financial institutions |
| Coreobjects | Product management | Not disclosed | End‑to‑end software development |
Fixed Compensation
| Metric (USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary | $75,250 | $67,000 | $66,000 |
| Bonus | $0 | $0 | $0 |
| Stock Awards (grant-date fair value) | $0 | $0 | $0 |
| Option Awards (grant-date fair value) | — | — | — |
| Non‑Equity Incentive Plan Comp | — | — | — |
| Deferred Comp Earnings | — | — | — |
| All Other Compensation | — | — | — |
| Total | $75,250 | $67,000 | $66,000 |
Notes: CNTM states EGC scaled disclosure; base salaries reflect skills/role; 401(k) match up to 50% of first 6% of eligible comp; perquisites case‑by‑case .
Performance Compensation
| Incentive type | Metric(s) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Annual cash bonus | Not disclosed | Not disclosed | Not disclosed | No bonus paid in 2022–2024 | N/A |
| Equity (RSU/PSU) | 2023 Equity Incentive Plan permits RSUs/PSUs; Committee discretion | Not disclosed | Not disclosed | No new equity grants to NEOs in 2022–2024; none disclosed for Subramanya | Plan requires minimum 1‑year vest; limited exceptions; CIC acceleration discretionary |
| Stock options | Generally 4‑year vest; ≥ FMV strike | Not disclosed | Not disclosed | No new option grants to NEOs in 2022–2024; none disclosed for Subramanya | Typically 4‑year; CIC treatment per Plan discretion |
Clawback: All awards under 2023 Plan subject to company clawback policy .
Equity Ownership & Alignment
| As‑of date | Shares beneficially owned | % of outstanding | Source context |
|---|---|---|---|
| Dec 31, 2024 | 431,775 | 1.5% | Outstanding shares: 29,093,289 |
| Mar 17, 2025 | 431,775 | 1.2% | Outstanding shares: 35,505,015 |
| Sep 3, 2025 (Record Date) | 431,775 | <1% (*) | Outstanding shares: 71,306,078 |
Outstanding equity awards: No options/stock awards disclosed for Subramanya at FY‑end 2024; options disclosed only for other NEOs .
Hedging/derivatives prohibited; margin purchases and holding company securities in margin accounts prohibited (addresses de facto pledging via margin) .
Trading pre‑clearance required for executive officers; subject list explicitly includes Subramanya .
Employment Terms
- Employment agreement and severance/CoC: CNTM discloses no employment agreements or offer letters for NEOs; no individual severance or CoC multiples disclosed .
- Equity plan mechanics (2023 Plan): Minimum 1‑year vesting (5% award pool exception); CIC treatment at Committee discretion (assumption, acceleration, cash‑out, or termination of awards) .
- Clawback: Awards subject to recovery under company clawback policy .
- Insider trading controls:
- Pre‑clearance required for directors/officers; open‑window policy from one full trading day after earnings release until 14 days before quarter‑end; blackout periods enforced .
- Hedging and short sales/derivatives prohibited; margin purchases and margin accounts prohibited .
- Rule 10b5‑1 trading plans permitted with pre‑approval; reporting protocols outlined .
- Rule 144 sales: Unavailable for ~1 year post‑business combination (reduces near‑term affiliate selling capacity) .
Vesting Schedules and Insider Selling Pressure
- No outstanding individual RSUs/options disclosed for Subramanya at FY‑end 2024; therefore limited scheduled equity vesting that would mechanically drive sales .
- Structural constraints on selling: blackout windows, pre‑clearance, and one‑year post‑combination Rule 144 unavailability mitigate near‑term insider selling pressure .
- Policy prohibits hedging and margin arrangements, reducing misalignment and leverage‑driven forced sales risk .
Track Record, Value Creation, and Execution Risk
- Operational track record: Co‑founded ConnectM (2007); architected core platform/PaaS; led 2020 pivot toward EV solutions (adoption by 10+ OEMs/infra) .
- Education/technical depth: MCA (DOEACC); product management background at i2 Technologies, Integral Systems, Coreobjects .
- Governance/role: Named executive officer; age 48; CTO .
- Disclosures reviewed do not provide TSR or revenue/EBITDA performance metrics tied to his incentive payouts due to EGC scaled disclosure and absence of variable pay items for 2022–2024 .
Compensation Committee Context
- Board committee membership indicators show Compensation Committee composed of independent directors (Cuocolo, Markscheid, Barua), overseeing executive pay programs .
- Committee will set future performance measures/goals and mix of base, annual incentive, and long‑term incentives .
Investment Implications
- Alignment and ownership: Meaningful absolute share ownership (431,775 shares) with prohibitions on hedging/margin and pre‑clearance underpin alignment; his ownership percentage declined as the share count expanded in 2025, diluting voting/economic influence .
- Pay‑for‑performance linkage: 2022–2024 comp was almost entirely fixed salary with no bonus or equity grants, limiting explicit performance linkage; future equity under the 2023 Plan could introduce performance‑based incentives (RSUs/PSUs), but none disclosed for him to date .
- Selling pressure risk: Lack of disclosed unvested awards, combined with blackout rules, pre‑clearance, and post‑combination Rule 144 constraints, suggests lower mechanical or policy‑driven near‑term selling pressure from this executive .
- Retention risk: Absence of an employment agreement and individualized severance/CoC protections implies standard at‑will arrangements; retention relies on role scope and potential future equity, rather than contractual economics .