Kellie Chong
About Kellie Chong
Kellie Chong is Chief Business Officer at Guerrilla RF (GUER), having joined in January 2022 after a 29-year career at RFMD across engineering and product leadership roles . She holds a B.S. in Electrical Engineering from North Carolina State University and an Executive Management Masters certificate from UNC Greensboro . As of the 2024 proxy record date, she was 60 years old . Company operating performance during her tenure improved, with FY2024 revenue up 33.4% year-over-year to $20.1 million and gross margin expanding 660 bps to 63.7% ; Q3 2025 revenue reached a record $6.3 million (+39% YoY) with gross margin of 67.5% as operating loss narrowed to $0.2 million .
Past Roles
| Organization | Role | Year | Strategic Impact |
|---|---|---|---|
| RFMD | Integrated Circuit (IC) Designer | 1992 | Foundation in RF IC design |
| RFMD | Director of Corporate Engineering | 1996 | Led engineering organization |
| RFMD | Oversaw GPS Product Line | 2003 | Product line management expansion |
| RFMD | Director of Filter Technology | 2006 | Technical leadership in filters |
| RFMD | Director of Infrastructure & Standard Products | 2009 | Portfolio and market expansion |
| RFMD | Director of Broadband Product Line | 2013 | Broadband portfolio leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ASEA Brown Boveri | Test Engineer | Not disclosed | Early career test engineering |
| Addacon (Micro Networks) | Design Engineer (High-speed ADC) | Not disclosed | High-speed mixed-signal design experience |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($USD) | $306,923 | $296,354 | $315,000 |
| All Other Compensation ($USD) | $30,461 | $35,999 | $25,512 |
Notes:
- All Other Compensation comprises employer 401(k) match, disability, life, and health insurance premiums .
- 2023 salary includes deferred amounts paid in March 2024 per footnote in the 2025 proxy .
Performance Compensation
| Component | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Annual Cash Bonus ($USD) | — | $75,000 | $75,000 |
| RSU Awards – Grant-Date Fair Value ($USD) | — | $111,750 | $75,000 |
| Stock Option Awards – Grant-Date Fair Value ($USD) | $164,190 | — | — |
- RSU vesting terms: three-year service-based vesting; amounts reported reflect ASC 718 grant-date fair value, not realized value .
- The company uses scaled executive compensation disclosure as an emerging growth/smaller reporting company; specific performance metric weightings and targets are not disclosed .
Equity Ownership & Alignment
Beneficial Ownership (as of 2025 proxy record date)
| Metric | Value |
|---|---|
| Common Shares Beneficially Owned (#) | 35,283 |
| Percent of Common Stock Outstanding | Less than 1% |
Outstanding Equity Awards (Status at Year-End)
| Metric | 12/31/2023 | 12/31/2024 |
|---|---|---|
| Options Exercisable (#) | 5,417 | 10,833 |
| Options Unexercisable (#) | 16,250 | 10,834 |
| Option Exercise Price ($) | $12.00 | $12.00 |
| Option Expiration Date | 2/21/2032 | 2/21/2032 |
| RSUs Unvested (#) | 12,500 | 26,023 |
| RSUs Unvested Market Value ($) | $37,500 | $35,912 |
Alignment and risk notes:
- No disclosure of executive stock ownership guidelines or compliance status in proxies reviewed .
- Clawback policy adopted in 2024 with mandatory recovery of erroneously awarded incentive-based compensation within a three-year lookback upon accounting restatements; agreements executed with named executive officers in March 2025 .
- 2021 Equity Incentive Plan includes transfer restrictions prior to vesting and allows Board-approved exchanges or repricing programs; awards subject to clawback .
Employment Terms
| Term | Detail |
|---|---|
| Start Date & Role | Joined GUER in January 2022 as Chief Business Officer |
| Offer Letter Economics | Initial annual base salary $201,600 and 50,000 stock options |
| Employment Term | At-will; no fixed term |
| Severance | If terminated for any reason, not entitled to any severance |
| Benefits & Agreements | Eligible for standard benefits; executed standard invention assignment/confidentiality agreement |
| Non-Compete/Non-Solicit | Not specifically disclosed for Ms. Chong in proxies reviewed |
| Clawback | SEC Rule 10D-1 compliant policy adopted in 2024; three-year lookback on restatements; agreements implemented March 2025 |
Performance & Track Record (Company Operating Metrics During Tenure)
| Metric | FY 2023 | FY 2024 | Q3 2025 |
|---|---|---|---|
| Revenue ($USD Millions) | $15.08 | $20.10 | $6.30 |
| Gross Profit Margin (%) | 57.1% | 63.7% | 67.5% |
| Contribution Margin (%) | 70.5% | 74.8% | 76.7% |
| Operating Loss ($USD Millions) | $(12.93) | $(8.80) | $(0.20) |
Highlights:
- Q3 2025 revenue +39% YoY to $6.3 million; operating cash flow +$0.8 million in Q3 2025; net loss per share improved to $0.06 vs $0.71 in Q3 2024 .
- FY2024 revenue +33.4% YoY; gross profit +49.8% to $12.8 million; operating loss narrowed by ~$4.1 million YoY .
Investment Implications
- Pay-for-performance alignment: Bonuses appear fixed at $75k in 2023–2024 without disclosed performance metrics/weightings, suggesting limited transparency on pay-performance linkage; RSUs vest purely on service, not explicit performance hurdles .
- Vesting and potential selling pressure: Unvested RSUs increased from 12,500 (2023) to 26,023 (2024), indicating ongoing vesting that can add selling pressure upon release; options vesting progressed materially from 5,417 to 10,833 exercisable, with a 2032 expiration and $12 strike .
- Ownership alignment: Direct beneficial ownership is modest (<1%), implying limited “skin-in-the-game”; no pledging disclosure identified, and no published executive stock ownership guidelines in proxies reviewed .
- Retention and change-of-control economics: As an at-will executive with no severance entitlement, retention relies on ongoing equity awards and role influence rather than contractual protections; lack of severance may reduce “golden handcuffs” and marginally elevate retention risk, especially in improving operating conditions .
- Governance safeguards and red flags: Adoption of SEC-compliant clawback reduces downside risk from restatements; however, the 2021 Plan allows exchanges/repricing of options subject to Board approval, which is shareholder-unfriendly if used—monitor plan amendments and any exchange programs .
- Execution context: Company-level performance has improved (revenue growth, margin expansion, operating loss reduction), supporting a favorable backdrop for incentive realization; lack of disclosed performance KPIs tied to bonuses may dilute pay-for-performance signaling .