Carlos Sardinas
About Carlos Sardinas
Carlos Sardinas is Chief Financial Officer (Principal Financial and Accounting Officer) of Laser Photonics Corporation (LASE), having signed the FY 2024 Form 10-K as CFO on June 24, 2025; he joined LASE on April 8, 2024 as Vice President, Finance and served as the principal financial and accounting officer before being named CFO . He has 15+ years of experience leading finance teams and implementing financial strategies, including roles at UES (Director of Finance, Jun 2023–Jan 2024) and L3Harris Technologies (multiple finance roles incl. Director of Finance, Aug 2015–Apr 2023); he holds a BSBA and an MBA from the University of Florida . Company performance context: revenues declined year-over-year in FY 2024 and EBITDA was negative in FY 2023–FY 2024 (see table below) .
Company Performance Snapshot
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues (USD) | $3,939,473 | $3,367,681 |
| EBITDA (USD) | -$2,824,855* | -$4,558,539* |
Values retrieved from S&P Global.*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| UES | Director of Finance | Jun 2023–Jan 2024 | Led and managed financial teams; developed and implemented financial strategies; ensured accurate and timely financial reporting |
| L3Harris Technologies | Lead Systems Analyst; Senior FP&A Analyst; Accounting Director; Director of Finance | Aug 2015–Apr 2023 | Led and managed financial teams; developed and implemented financial strategies; ensured accurate and timely financial reporting |
Fixed Compensation
| Year | Base Salary (USD) | Notes |
|---|---|---|
| 2024 | $155,000 | Offer Letter dated Apr 8, 2024; at-will employment; standard health and other benefits |
| 2024 | $180,000 | Summary Compensation Table (named executive officers for 2024 include Sardinas; salary only, no disclosed bonus or equity for 2024) |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus Program | Corporate and individual goals set annually by Board/Comp Committee | Not disclosed | Target annual cash incentive is % of base salary set at start of year | Determined post-year based on achievement vs goals | Calculated as % of corporate goals achieved | N/A |
| Equity Awards (2019 Plan) | Stock options; restricted stock/RSUs; SARs | Not disclosed | Exercise price set at ≥ fair value on grant date | Not disclosed for Sardinas in 2024 SCT | N/A | Typical employee grants vest 25% at first anniversary; remaining vests in equal quarterly installments through 4th anniversary |
Equity award form for Sardinas in 2024 was not disclosed in the Summary Compensation Table (only salary shown) .
Equity Ownership & Alignment
| As of | Shares Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Nov 10, 2025 | 0 | 0% | Beneficial ownership table in 2025 proxy; 22,477,567 common shares outstanding |
- Equity ownership guidelines: Company emphasizes equity ownership and long-term incentives via the 2019 Stock Incentive Plan; executives are eligible for options/restricted stock/RSUs at Board discretion .
- Option counting methodology: Options or warrants exercisable within 60 days are deemed outstanding for an individual’s beneficial ownership calculation .
Employment Terms
| Term | Detail |
|---|---|
| Start date | Offer Letter effective Apr 8, 2024 |
| Employment status | At-will |
| Base salary at hire | $155,000 |
| Benefits | Standard health and other benefits offered to employees |
| Severance / Change-in-control | Company states it expects to enter agreements with certain executives providing specified benefits upon termination, including following a change in control; specific multiples/triggers not disclosed |
| Clawback | Incentive Compensation Recoupment Policy listed as Exhibit 97.1 in 10-K/10-K/A filings |
Additional governance context:
- Compensation Committee members: Troy Parkos (Chairman of Nominating and Corporate Governance Committee), Carlos Garcia, Tim Miller; all independent under Nasdaq rules; Compensation Committee chaired by Tim Miller .
Investment Implications
- Alignment risk: Beneficial ownership shows Sardinas at 0 shares and 0% of outstanding as of Nov 10, 2025, indicating low “skin-in-the-game” alignment absent other unreported holdings .
- Compensation mix signal: 2024 SCT reports salary of $180,000 for Sardinas with no disclosed bonus or equity awards, suggesting predominantly cash compensation in 2024; combined with typical four-year vesting design, future equity grants would be important for retention incentives .
- Pay-for-performance mechanism: Annual cash bonuses are tied to corporate and individual goals and paid based on percent achievement, but metric-level targets/weights are not disclosed, limiting external assessment of payout rigor .
- Risk controls: A formal clawback policy exists (Exhibit 97.1) and the 2019 Plan prohibits option/SAR repricing without shareholder approval, reducing governance red flags around incentive manipulation .
- Financing and execution exposure: As CFO, Sardinas signed secured loan and note agreements in 2025 (and related 2024 agreements), indicating central responsibility for capital structure and liquidity—key execution risks for small-cap issuers .
Overall: Lack of disclosed equity ownership and limited transparency on specific bonus metrics/targets increases emphasis on monitoring future equity grants, vesting, and any insider transactions for alignment and selling pressure. Continued loss-making EBITDA underscores execution risk; compensation should increasingly emphasize objective performance metrics aligned to revenue growth, gross margin expansion, and cash generation.