Mahesh Choudhury
About Mahesh Choudhury
Mahesh Choudhury is a senior executive at ConnectM Technology Solutions with over 25 years of operational management experience spanning supply chain, IT, and general administration; he has led ConnectM’s internal operations since January 2017 and oversees finance and IT functions, with an MS from the Indian Institute of Technology (IIT), India . As of the FY2024 10-K he was Vice President, U.S. Operations (age 54), while the October 30, 2025 investor presentation identifies him as SVP, Finance & Compliance, indicating a role expansion in 2025 . Under current management, ConnectM reported Q3 2025 revenue growth of 45% year-over-year (to ~$8.7M) and year-to-date revenue growth of 60% (to ~$26.2M), with net loss improving to approximately $1.0M from ~$9.9M in Q3 2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ConnectM Technology Solutions | Head of internal operations; oversees finance and IT | Jan 2017 – present | Leads supply chain, IT, general administration; defines remote performance management platform for HVAC industry |
| Sustainable New Energy (SNE) | Finance and supply chain leader | Aug 2010 – Sep 2014 | Implemented large-scale wind and solar energy projects |
| Cambridge Clean Energy (CCE) | Co‑founder; led global operations | Prior to ConnectM (dates not separately disclosed) | Developed remote power management for telecom towers; led operations globally |
Fixed Compensation
| Component | 2022 ($) | 2023 ($) | 2024 ($) |
|---|---|---|---|
| Base salary | 130,000 | 145,000 | 160,000 |
| Annual bonus | 0 | 0 | 0 |
| Stock awards (grant-date fair value) | 0 | 0 | 0 |
| Option awards (grant-date fair value) | 0 | 0 | 0 |
| Non‑equity incentive plan comp | — | — | — |
| All other compensation | 0 | 0 | 0 |
| Total | 130,000 | 145,000 | 160,000 |
- 401(k): Company match is 50% of the first 6% of eligible compensation (subject to IRS limit); broad health and welfare benefits available to full-time employees .
- Post-business combination salary reference: “Mr. Choudhury earns a salary of $160,000 as Vice President, US Operations” .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual cash bonus | Not disclosed | — | No bonus paid (2022–2024) | $0 (all years) | — |
| Equity awards to NEOs (current-year grants) | Not disclosed | — | No new equity awards granted to NEOs in 2022–2024 | $0 | — |
Design and policy highlights:
- Equity plans: 2019 Plan (closed to new grants) and 2023 Plan govern long-term incentives; minimum one-year vesting (with limited exceptions); awards non-transferable with limited permitted transferees .
- Clawback: All awards under the 2023 Plan are subject to any company clawback policy in effect .
- Change-in-control: Under the 2019 Plan, the committee has discretion to accelerate options, require exercise, grant replacement awards, or terminate for cash consideration, among other alternatives .
Equity Ownership & Alignment
| Date (Record) | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Dec 31, 2024 | 337,566 | <1% | Includes 77,620 options exercisable within 60 days |
| Mar 17, 2025 | 259,768 | <1% | Includes 77,798 options exercisable within 60 days |
| Aug 14, 2025 | 737,566 | 1.0% | Includes 77,798 options exercisable within 60 days |
Option holdings (as of 12/31/2024):
| Grant/Tranche | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | Status |
|---|---|---|---|---|---|
| Option (grant date not disclosed; tranche 1) | 52,710 | 0 | 0.50 | Apr 1, 2028 | Fully vested |
| Option (grant date not disclosed; tranche 2) | 24,910 | 0 | 0.50 | Nov 15, 2030 | Fully vested |
Additional alignment and trading considerations:
- Insider trading policy/Rule 144: The company notes Rule 144 was unavailable for approximately one year following the business combination; directors/officers are subject to preclearance and Section 16(b) short‑swing profit rules .
- Pledging/hedging: No specific pledging or hedging disclosures identified beyond plan-level non-transferability restrictions for awards; no officer-level pledging disclosed for Mr. Choudhury in available filings .
Employment Terms
- Employment agreement: “There are no employment agreements or offer letters for our named executive officers,” implying no defined severance multiples or fixed change-in-control cash benefits .
- Non-compete/Non-solicit: Not disclosed for Mr. Choudhury in available filings.
- Change-in-control equity treatment: Committee may accelerate or adjust awards under plan documents; vesting acceleration is discretionary and plan-specific rather than individual-contract based .
- Clawback: Awards subject to any clawback policy ConnectM adopts .
Performance & Track Record
| Indicator | Detail |
|---|---|
| Role in execution | Leads internal operations, supply chain, IT, and general administration; oversees finance and IT, indicating a cross-functional operating role . |
| Company growth (recent) | Q3 2025 revenue +45% YoY ($8.7M) and YTD revenue +60% ($26.2M); quarterly net loss improved to ~$1.0M from ~$9.9M in Q3 2024 . |
| Capital structure progress (2025) | Significant deleveraging and removal of derivative overhangs via exchanges and settlements (e.g., Libertas termination and repayment plan), reducing obligations by well over $10M gross and simplifying capital structure . |
Compensation Structure Analysis
- Cash vs equity mix: 2022–2024 compensation for Mr. Choudhury is entirely cash salary; no annual bonuses or new equity awards granted, indicating low at‑risk pay and limited direct pay-for-performance linkage in the period disclosed .
- Equity incentives: Outstanding options are fully vested with distant expirations (2028 and 2030), providing potential upside but also creating possible liquidity overhangs if exercised and sold, subject to insider trading windows .
- Governance features: Minimum one-year vesting, clawback applicability, and discretionary CoC acceleration are positive structural elements, though lack of disclosed performance metrics/targets for annual incentives limits visibility into performance alignment for 2024 .
Investment Implications
- Alignment: Ownership increased to ~0.99–1.0% by August 2025 record date, and fully vested options create meaningful equity exposure; absence of pledging disclosure and presence of clawback framework are governance positives .
- Retention risk: No employment agreement or severance/change-in-control cash protections could pose retention risk; incentive design relies on equity plan discretion rather than contractual guarantees .
- Trading signals: Fully vested options (0.50 strike; expiries 2028/2030) may represent potential selling pressure during open windows, balanced against insider policy preclearance and earlier Rule 144 limitations post‑combination .
- Execution track record: Recent growth and balance sheet simplification support improving fundamentals, but limited variable pay disclosure for 2024 complicates pay-for-performance assessment at the individual level .