Alex Sum
About Alex Sum
Alex Sum is Sr. Vice President of Sales and Marketing at GCT Semiconductor Holding, Inc. (GCTS); he previously served as VP of Sales & Marketing since 2013 and earlier held senior marketing and engineering roles at major semiconductor firms. He is 77 years old and holds a B.S. in Electrical Engineering from San Jose State University . Company filings describe an executive pay program of base salary, periodic equity awards, and annual bonuses; however, no annual bonuses were awarded to NEOs in 2023 or 2024, and RSUs granted to Sum are time‑based rather than tied to revenue, EBITDA, TSR or similar performance metrics .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| GCT Semiconductor | Sr. VP Sales & Marketing | 2013–present | Leadership in sales/marketing; detailed impact not disclosed in filings |
| GCT Semiconductor | VP Marketing & Business Development | 2002–2013 | Executive marketing leadership; impact not specifically detailed |
| Philips Semiconductor (predecessor of NXP) | Product Marketing Manager | 1992–2002 | Product marketing in semiconductors; impact not detailed |
| Supertex Inc. | Product/Test Engineering Supervisor | 1983–1992 | Engineering supervision; impact not detailed |
| Fairchild Semiconductor | Product/Test Engineering Supervisor | 1977–1983 | Engineering supervision; impact not detailed |
| Siliconix (predecessor of Vishay) | Test/Wafer Fab Processing Engineering | 1975–1977 | Engineering role; impact not detailed |
External Roles
Company filings reviewed (FY2024 10-K and 2025 DEF 14A) do not list external public company directorships or board roles for Alex Sum .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $296,517 | $303,100 |
| Annual Bonus ($) | $0 (no annual bonus awarded) | $0 (no annual bonus awarded) |
| Stock Awards ($ fair value) | $32,901 (RSU grant 12/11/2023) | $0 |
| All Other Compensation ($) | $5,272 | $9,043 |
| Total ($) | $334,690 | $312,143 |
Performance Compensation
RSU Awards (time‑based)
| Grant date | Award type | Shares granted | Grant-date FV/sh | Total fair value | Vesting schedule |
|---|---|---|---|---|---|
| 12/11/2023 | RSU | 5,341 | $6.16 | $32,901 | Equal annual installments over 4 years from 12/11/2023 |
- As of 12/31/2024, 4,005 RSUs remained unvested for Sum from the 12/11/2023 grant .
- Company disclosed no 2023–2024 annual cash incentive plan payouts; RSUs were time-based (no stated performance metrics or weightings tied to revenue/EBITDA/TSR for Sum) .
Stock Options (legacy grants)
| Grant date | Options exercisable (#) | Strike ($) | Expiration |
|---|---|---|---|
| 02/23/2015 | 13,259 | $0.11 | 02/23/2025 |
| 03/14/2018 | 13,820 | $0.11 | 03/14/2028 |
| 04/19/2019 | 13,540 | $0.11 | 04/19/2029 |
| 06/08/2020 | 9,338 | $0.11 | 06/08/2030 |
- All options listed are fully vested and exercisable; vesting followed 25% after year 1 and the balance monthly over the following 36 months per each grant’s schedule .
Vesting and Trading Signals
| Event | Date | Quantity | Notes |
|---|---|---|---|
| RSU vesting (director program example for context) | 03/31/2025 | see director RSU mechanics | Director RSUs vested 3/31/2025; executives follow plan documents; Sum’s RSUs vest annually from 12/11/2023 |
| Form 4 filing | 02/21/2025 | n/a | Alex Sum filed Form 4 (transaction details in EDGAR) |
| Form 4/A filing | 02/27/2025 | n/a | Alex Sum filed amended Form 4 |
| RSU grant (reported) | 09/30/2025 | 18,092 | RSUs to vest on 03/31/2026, subject to continued service (reported in aggregator; verify via EDGAR) |
Equity Ownership & Alignment
Beneficial Ownership (Alex Sum)
| As-of date | Shares beneficially owned | Ownership % |
|---|---|---|
| 03/15/2025 | 141,436 | <1% |
| 07/25/2025 | 141,436 | <1% |
- Includes 36,698 shares issuable upon exercise of stock options within 60 days of the respective dates .
- No disclosure of pledged shares or hedging by Alex Sum in proxy/10-K sections reviewed .
Outstanding Equity Awards (FY2024 year‑end)
| Instrument | Unvested/Exercisable | Market/Strike | Key terms |
|---|---|---|---|
| RSUs | 4,005 unvested (as of 12/31/2024) | $2.33 used for market value | Vests annually over 4 years from 12/11/2023 |
| Options | 13,259 (02/23/2015) | $0.11 strike | Fully vested; expires 02/23/2025 |
| Options | 13,820 (03/14/2018) | $0.11 strike | Fully vested; expires 03/14/2028 |
| Options | 13,540 (04/19/2019) | $0.11 strike | Fully vested; expires 04/19/2029 |
| Options | 9,338 (06/08/2020) | $0.11 strike | Fully vested; expires 06/08/2030 |
Ownership Policies
Filings do not disclose executive stock ownership guidelines or compliance status for Alex Sum .
Employment Terms
- Retention Plan for NEOs (includes Sum): If terminated without cause or for good reason outside 12 months post‑change‑of‑control, severance equals 6 months base salary and health coverage plus accelerated vesting of 50% of unvested equity; if within 12 months post‑change‑of‑control, 12 months salary and health coverage plus full accelerated vesting of outstanding equity (double‑trigger). Payments subject to 280G cutback to maximize net after‑tax benefits; severance conditioned on release of claims .
- Incentive Plans: Awards under 2011 and 2024 plans may be assumed/substituted in a change‑of‑control; if not, they vest in full at the time of change‑of‑control .
- Lock‑up Agreement (closing 03/26/2024): Directors/officers agreed to transfer restrictions until the earliest of one year post‑closing, specified corporate transaction, or stock trading at ≥$12 for 20 of 30 trading days at least 150 days post‑closing .
Compensation Committee & Governance Context
- Compensation Committee: Members are Dr. Kyeongho Lee (Chair), Robert Barker, and Jeff Tuder; the committee met three times in 2024 .
- Independent Consultant: Meridian Compensation Partners retained as independent compensation consultant; committee assessed independence and reported no conflicts .
- Program Design: NEO compensation comprises base salary, annual bonuses, and periodic equity; no annual bonuses for 2023–2024; RSUs granted in 2023 for CEO/Sum and in 2024 for CFO; historic emphasis on stock options .
Compensation Structure Analysis
- Shift to RSUs from options: 2023 introduced RSUs for CEO and Sum, a move from historically option‑heavy grants; RSUs are time‑based with no disclosed performance metrics, lowering explicit pay‑for‑performance sensitivity versus PSUs .
- Increase in guaranteed vs at‑risk pay: With no annual bonus in 2023–2024 and time‑based RSUs, Sum’s compensation leaned toward salary and tenure‑based vesting, reducing direct linkage to financial outcomes .
- No evidence of repricing or modification of underwater options: Filings detail legacy options at $0.11 strike prices and do not disclose repricing events .
Say‑on‑Pay & Shareholder Feedback
The September 18, 2025 Annual Meeting 8‑K reported director elections, auditor ratification, and NYSE compliance approval for share issuance; no advisory say‑on‑pay item was included in that meeting’s agenda .
Investment Implications
- Alignment: Sum’s direct beneficial ownership is <1%, with legacy fully‑vested low‑strike options and a modest unvested RSU balance; alignment relies more on continued service than explicit performance hurdles .
- Near‑term selling pressure: Lock‑up restrictions post‑closing mitigated early selling; insider Forms 4 in Feb 2025 and an RSU award reported for Sep 2025 with vest in Mar 2026 suggest routine equity activity rather than aggressive selling; monitor tax‑withholding net settlements around vest dates for flow‑through pressure .
- Retention and CoC economics: Double‑trigger full acceleration on CoC plus 12 months salary/benefits could incentivize stability but also raises the risk of value leakage upon a sale; outside CoC, 50% acceleration supports partial retention continuity .
- Pay‑for‑performance risk: Absence of disclosed performance metrics and no bonus payouts in 2023–2024 reduce incentive alignment with revenue/EBITDA/TSR outcomes; consider advocating for PSU structures with explicit financial/TSR targets to improve alignment .