Oleandro Mancini
About Oleandro Mancini
Senior Vice President, Business Development at Frequency Electronics (FEIM). Mancini joined FEIM in August 2000 and was promoted to SVP, Business Development in 2010; prior roles include VP-level positions in sales/marketing, business development, and engineering at Satellite Transmission Systems and Cardion (Siemens) . Age 75 as disclosed in the 2024 proxy . Compensation levers tie primarily to FEI-NY segment bookings (cash bonus) and operating income performance (PSUs), aligning his at-risk pay with order flow and profitability .
Company performance snapshot during the last three fiscal years:
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue ($USD) | $40.8M | $55.3M | $69.8M |
| EBITDA ($USD) | -$2.24M* | $7.14M* | $13.79M* |
Values retrieved from S&P Global for EBITDA (no document citations available).*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Frequency Electronics, Inc. (FEIM) | SVP, Business Development | 2010–present | Leads business development for FEI-NY segments; bonus tied to bookings generation . |
| Frequency Electronics, Inc. (FEIM) | VP, Business Development | 2000–2010 | Drove commercial/government BD initiatives . |
| Satellite Transmission Systems, Inc. | Vice President, Sales & Marketing | 1998–2000 | Led go-to-market and sales strategy for satellite systems . |
| Cardion, Inc. (Siemens A.G.) | Vice President, Business Development | 1995–1998 | Business development leadership in communications/defense electronics . |
| Cardion, Inc. (Siemens A.G.) | Vice President, Engineering | 1987–1995 | Engineering leadership; product development oversight . |
Fixed Compensation
Multi-year summary compensation (as reported):
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | All Other Comp ($) | Total ($) |
|---|---|---|---|---|---|
| 2025 | 280,000 | 56,466 | 63,338 | 21,839 | 421,642 |
| 2024 | 247,933 | 0 | 0 | 17,126 | 265,059 |
| 2023 | 232,692 | 0 | 26,475 | 15,189 | 274,356 |
| 2022 | 236,921 | 0 | 7,433 | 11,945 | 256,298 |
| 2021 | 236,112 | 67,544 | 7,163 | 10,577 | 321,396 |
Perquisites (examples of “All Other Compensation” breakdown):
| Year | Auto ($) | Insurance & Medical Reimbursements ($) | Financial Planning & Other ($) | Total All Other ($) |
|---|---|---|---|---|
| 2025 | 3,247 | 12,592 | 6,000 | 21,839 |
| 2024 | 2,725 | 11,401 | 3,000 | 17,126 |
Rate card from employment narrative: Base salary $276,000 (for SVP, Business Development) .
Performance Compensation
Cash bonus program (SVP, Business Development):
- Metric: Bookings generated by FEI-NY segment; Board retains discretion on payout .
- Actual payout: $56,466 (FY 2025); $0 (FY 2024) .
Equity and long-term incentives:
- RSUs: Outstanding RSUs based on 188 shares; vest equally over 4 years from grant date .
- PSUs: Outstanding PSUs based on 5,625 shares; vest equally over 4 years; performance metric is operating income .
- Grants: No RSUs, SARs or options granted in fiscal 2025 or fiscal 2024 .
- Legacy SARs: Awarded SARs based on 45,000 shares in prior years; generally 10-year term (5-year term for 2017–2019 awards) .
Detailed incentive design and outcomes:
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting Terms |
|---|---|---|---|---|---|
| Annual Cash Bonus | FEI-NY bookings | Not disclosed | Not disclosed | $56,466 (FY25); $0 (FY24) | N/A |
| PSUs | Operating Income | Not disclosed | Not disclosed | Not disclosed | Equal over 4 years |
| RSUs | Service (time-based) | Not disclosed | Not disclosed | Not disclosed | Equal over 4 years |
| SARs (legacy) | Stock appreciation | N/A | N/A | Not disclosed | 10-year (some 5-year) terms |
Equity Ownership & Alignment
Beneficial ownership (selected dates):
| As of | Shares Beneficially Owned | Percent of Class |
|---|---|---|
| Aug 21, 2025 | 34,459 | Less than 1% |
| Aug 16, 2024 | 50,240 | Less than 1% |
| Aug 11, 2023 | 49,273 | Less than 1% |
Ownership breakdown (within 60 days of Aug 21, 2025):
| Component | Shares |
|---|---|
| 401(k) Savings Plan allocated shares | 9,602 |
| SAR or RSU shares vesting/exercisable within 60 days | 5,813 |
Alignment and policies:
- Hedging prohibited for directors/officers and their families (e.g., no prepaid forwards, swaps, collars, exchange funds) .
- Awards subject to any adopted hedging/pledging policy and to company clawback policy per equity plan .
- Insider trading policy in place; filed with FY2025 10-K .
Employment Terms
| Term | Mancini Details |
|---|---|
| Employment agreement | None; employed as SVP, Business Development |
| Base salary | $276,000 (rate in narrative); FY2025 salary paid: $280,000 |
| Annual bonus | Based on FEI-NY bookings; Board discretion |
| Deferred compensation | Annual benefit of $85,000 upon retirement, death, or termination without cause (life minimum 10 years; funded via company working capital and life insurance assets) |
| Change-in-control separation benefits | If discharged without cause within 1 year after a change in control: 1.5x average base salary + cash bonus (prior 5 years); if >1 year but <2 years: two-thirds of 5-year average base salary + bonus |
| Equity vesting terms | RSUs and PSUs vest equally over four years from grant |
| Recent equity grant cadence | No RSUs, SARs or options granted in FY2025 or FY2024 |
| Clawback/hedging | Awards subject to Company clawback; hedging/pledging policy applicability noted in plan; hedging of Company stock prohibited for insiders |
Investment Implications
- Pay-for-performance alignment: Cash bonuses tied to FEI-NY bookings and PSUs tied to operating income directly connect Mancini’s pay to order capture and profitability, supporting alignment with near-term execution and margin expansion .
- Selling pressure: No equity grants in FY2024–FY2025 and modest outstanding RSUs/PSUs (188 and 5,625 shares, respectively) suggest limited incremental vest-driven selling pressure near term .
- Ownership and skin in the game: Beneficial ownership <1% (34,459 shares as of Aug 21, 2025), including 9,602 401(k) shares and 5,813 SAR/RSU shares within 60 days, indicates exposure but not a controlling stake; hedging is prohibited, supporting alignment .
- Retention and change-of-control economics: Deferred compensation ($85,000 annual) and double-trigger CoC benefits (up to 1.5x five-year average base salary+bonus) enhance retention but modestly raise takeout costs .
- Succession/tenure risk: With age 75 in 2024 and >20 years at FEIM, succession planning remains a consideration for continuity of FEI-NY bookings execution .
- Governance/risk: Clawback policy and insider trading restrictions mitigate governance risk; no related-person transactions above thresholds and no disclosed legal proceedings for insiders reduce red-flag risk indicators .