Gregory Knight
Ideal PowerAbout Gregory Knight
Gregory Knight, age 50, is an independent director of Ideal Power Inc. (IPWR) serving since April 2022. He has 20 years of leadership and consulting experience across photovoltaic, silicon carbide, EV, power electronics and industrial equipment markets, and currently serves as President & CEO of Kellenberger Systems; prior roles include President & CEO of Hardinge Inc. (2023–2024), COO of Hardinge Inc. (Jan–Jul 2023), and President & CEO of GT Advanced Technologies (2016–2021). He holds a B.A. in Chemistry from Cornell University and received formal nuclear engineering education from the U.S. Naval Nuclear Power School; he served five years in the U.S. Navy as Chemistry/Radiological Controls Officer .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kellenberger Systems | President & CEO | Sep 2024–present | Leads advanced CNC systems business; industrial/operations expertise |
| Hardinge Inc. | President & CEO | Jul 2023–Sep 2024 | Industrial equipment leadership; strategic execution |
| Hardinge Inc. | Vice President & COO | Jan 2023–Jul 2023 | Operational leadership |
| GT Advanced Technologies | President & CEO | Sep 2016–Oct 2021 | Silicon carbide and sapphire materials; EV/power electronics exposure |
| Exawatt | Co-Founder & Co-CEO | May 2015–Sep 2016 | Strategic consulting in solar PV/EV/power electronics |
| PV Tech Group | President | Jul 2010–Sep 2016 | Operations and strategic planning services to PV industry |
| Equity Solar | Chief Technology Officer | Apr 2010–Jun 2015 | Silicon surface chemistries to increase PV cell efficiency |
| Schott Solar | Manufacturing Director, Solar Cell Fabrication | Dates not disclosed | Manufacturing leadership in solar cells |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hardinge Inc. | Director | Ongoing (current) | Multi-national machine tool builder |
Board Governance
- Independence: The Board determined Knight is independent under Nasdaq/SEC rules (all directors except the CEO are independent) .
- Committee assignments: Audit Committee member; Audit Committee chaired by Michael C. Turmelle; membership includes Turmelle (Chairman), Drue Freeman, and Gregory Knight .
- Board leadership: Chairman is independent (Michael C. Turmelle); no lead independent director .
- Attendance: Board met seven times in 2024; each director attended at least 75% of the aggregate of Board and committee meetings; all directors attended the 2024 annual meeting .
| Meetings and Attendance | 2024 |
|---|---|
| Board meetings (count) | 7 |
| Audit Committee meetings (count) | 8 |
| Compensation Committee meetings (count) | 5 |
| Nominating & Corporate Governance meetings (count) | 7 |
| Knight attendance threshold | ≥75% of Board+committees |
| Director attendance at 2024 annual meeting | All directors attended |
- Anti-hedging/anti-pledging: Company policy prohibits hedging and pledging, including margin accounts and collars; applies to directors .
- Clawback policy: Incentive Compensation Recovery Policy adopted in Sept 2023 to comply with Exchange Act §10D/Nasdaq Rule 5608 .
Fixed Compensation
| Metric (USD) | 2023 | 2024 |
|---|---|---|
| Annual cash retainer | $60,000 | $60,000 |
| Equity grant (RSUs, grant-date fair value) | $60,000 | $60,000 |
| Total director compensation | $120,000 | $120,000 |
| Committee chair/member fees | Not disclosed | Not disclosed |
| Meeting fees | Not disclosed | Not disclosed |
| Vesting for director RSUs | Equal quarterly installments over fiscal year | Equal quarterly installments over fiscal year |
Performance Compensation
| Element | 2023 | 2024 |
|---|---|---|
| Performance metrics tied to director pay | None disclosed; director equity is time-based RSUs | None disclosed; director equity is time-based RSUs |
| Equity type | RSUs (time-based) | RSUs (time-based) |
| Vesting schedule | Equal quarterly installments over fiscal year | Equal quarterly installments over fiscal year |
| Options outstanding (vested) | 8,983 (vested) | 8,983 (vested) |
Note: Performance Stock Units (PSUs) and performance metrics are disclosed for executive officers (stock price appreciation hurdles), not for directors .
Other Directorships & Interlocks
| Company/Organization | Role | Committee Roles | Potential Interlock/Conflict |
|---|---|---|---|
| Hardinge Inc. | Director | Not disclosed | No IPWR related-party transactions since Jan 1, 2024; no conflicts disclosed |
Expertise & Qualifications
- Deep domain experience in PV, silicon carbide, EV, energy storage, power electronics; industrial equipment operations (CNC systems) .
- Manufacturing leadership background; strategic consulting; technology commercialization .
- Education/credentials: B.A. Chemistry (Cornell); formal nuclear engineering education; U.S. Navy Chemistry/Radiological Controls Officer service .
Equity Ownership
| Ownership Detail | As of Apr 15, 2025 |
|---|---|
| Beneficial ownership (shares) | 24,168 |
| Ownership % of outstanding | <1% |
| Direct/common shares | 15,185 |
| Options exercisable within 60 days | 8,983 |
| Shares pledged as collateral | Prohibited by policy (company-wide) |
Say-on-Pay & Shareholder Feedback
| Metric | 2023 | 2024 |
|---|---|---|
| Say-on-pay approval (%) | ~88% | ~93% |
| Recommended frequency for future say-on-pay votes | Annual (recommendation) | Annual (recommendation) |
Governance Assessment
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Strengths:
- Independent director with relevant technical/industrial expertise; audit committee service enhances oversight of financial reporting and risk, including cybersecurity .
- Strong governance policies: anti-hedging/anti-pledging; SEC/Nasdaq-compliant clawback; robust committee structure and annual self-evaluations .
- Director compensation structure is balanced between cash and equity with straightforward quarterly RSU vesting; no meeting fees or complex pay elements disclosed .
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Potential issues and RED FLAGS:
- Board diversity shortfall: as of April 2024, the Board had zero directors meeting Nasdaq diversity definitions, with plans to add diverse directors over time; this is a governance risk until remediated (Nasdaq Rule 5605(f) expectations) .
- Time commitments: Knight holds a full-time CEO role at Kellenberger Systems while serving on IPWR’s Board; investors may monitor engagement/attendance (Board reported ≥75% attendance for each director in 2024) .
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Conflicts/related parties:
- No related-party transactions since Jan 1, 2024; no loans or transactions with Knight disclosed .
- Anti-pledging policy reduces alignment risks; no pledging/hedging permitted for directors .
-
Compensation & alignment:
- Director equity grants are time-based RSUs; no performance metrics disclosed for directors, which is standard at many small-cap issuers; Knight holds options (vested) and common shares, indicating some alignment via equity .
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Committee effectiveness:
- Audit Committee comprised solely of independent directors; chair designated “financial expert”; Knight’s membership supports board oversight of financial reporting and risk .