Martin Petraitis

About Martin Petraitis

Martin Petraitis is Vice President of Sales at Cyngn (CYN), serving since November 2024 and designated a named executive officer on May 6, 2025 . He is 71 and holds both MSME and BSME degrees in mechanical engineering from the University of Colorado Boulder . Prior roles include sales and leadership positions across automation and robotics firms with a track record of scaling revenue, including leading sales at Heartland Automation (2020–2024) and executive roles at Clearpath Robotics/OTTO Motors (2016–2020), Segue Manufacturing Services (2012–2016), and Brooks Automation (1998–2006), where he scaled revenue to over $210 million through strategic accounts and consultative selling . During early tenure, CYN reported Q1 2025 revenue of $47.2 thousand versus $5.5 thousand in Q1 2024, reflecting nascent commercial traction, and disclosed approximately $308k in Q1 2025 bookings alongside expanded deployments, with Petraitis highlighting go-to-market alignment and payback-focused targeting .

Past Roles

External Roles

• No public company directorships or board roles disclosed for Petraitis in CYN filings reviewed .

Company Performance Context (during Petraitis’s early tenure)

Additional commercial commentary: CYN reported deployments with five major OEMs and Tier‑1 suppliers across the U.S. and Mexico and expansion into manufacturing, CPG, logistics and defense; Petraitis stated focus on booking cadence and target companies with demonstrable AV business payback .

Fixed Compensation

• Company program overview: senior executive compensation consists of base salary, long‑term equity (stock options and restricted stock), and employee benefits; base salary levels consider company performance, industry norms, and individual responsibility .
• Specific base salary, target bonus, or actual bonus for Petraitis were not disclosed in the reviewed filings; SCT covers CEO, CFO, VP of Business Development for 2023–2024 and excludes Petraitis .

Performance Compensation

• Long‑term equity program: executives are eligible for stock awards (options and restricted stock) with vesting generally over three years (subject to Compensation Committee discretion); options typically priced at the closing price on grant date; equity intended to align interests with long‑term performance .
• No Petraitis‑specific RSU/PSU grants, option awards, performance metric weightings, targets, actuals, or payouts were disclosed in the reviewed filings .

Equity Ownership & Alignment

• Vested vs. unvested shares: Not disclosed for Petraitis in the outstanding equity awards table; table lists CEO, former CFO, and VP Business Development only .
• Pledging: No pledging by Petraitis disclosed in beneficial ownership tables or footnotes .
• Stock ownership guidelines: CYN encourages, but does not require, executives to own stock; no formal written policy on timing of equity awards .
• 10b5‑1/Trading plans: During Q1 2025, no director or officer adopted or terminated Rule 10b5‑1 or non‑Rule 10b5‑1 trading arrangements .

Employment Terms

• Designated as a named executive officer on May 6, 2025; specific offer/employment agreement, severance, or change‑of‑control terms for Petraitis were not disclosed in reviewed filings .
• General NEO disclosures note employment arrangements with named officers, including eligibility for annual cash incentive opportunities and annual equity grants, plus standard confidential information and invention assignment agreements; individual terms for Petraitis are not detailed .

Risk Indicators & Red Flags

• Alignment risk: Zero beneficial ownership as of August and October 2025 suggests limited personal economic exposure to CYN equity near‑term , though company emphasizes multi‑year vesting to retain executives .
• Insider trading arrangements: No trading plans in Q1 2025 reduce immediate insider selling pressure signals, but absence of disclosed grants for Petraitis limits visibility into future vesting overhang .
• Governance/controversies: No legal proceedings or SEC investigations related to Petraitis disclosed; CYN disclosed an unresolved settlement matter with a former placement agent unrelated to Petraitis .

Compensation Structure Analysis

• Mix and risk: Program balances cash and stock, with multi‑year vesting aimed at retention and alignment; absence of Petraitis‑specific grant detail prevents analysis of his cash vs. equity mix or risk exposure .
• Ownership expectation: Encouragement but no requirement to hold stock may weaken formal alignment, compounded by Petraitis’s zero beneficial ownership as of latest proxies .

Investment Implications

• Near‑term revenue traction and bookings provide early validation of commercial strategy under a newly expanded sales organization, though absolute revenue remains modest and execution risk is high for scaling to fleet deployments .
• Lack of disclosed Petraitis‑specific cash and equity award data, combined with zero reported share ownership, limits confidence in pay‑for‑performance alignment and obscures potential vesting‑related selling pressure; monitor upcoming proxy and Form 4 filings for grants, vesting schedules, and any trading plans .
• Retention and continuity appear acceptable given multi‑year vesting framework, but the absence of disclosed severance/CIC terms for Petraitis leaves change‑of‑control economics unquantified; investors should watch for future 8‑K Item 5.02 disclosures detailing his employment agreement and equity awards .