Adel Essaddam
About Adel Essaddam
Adel Essaddam (age 30) was appointed Chief Operating Officer on March 5, 2025 after serving as Vice President, Science & Innovation (March 2022–March 2025) and Lead Scientist (July 2018–March 2022) . He holds a degree in Composite Material Transformation, is the co‑inventor of Loop’s GEN II depolymerization technology, leads R&D, and has multiple global patents; he also serves on the boards of Loop’s joint ventures with Reed Societe Generale Group and Ester Industries to oversee strategic direction and technology deployment . The company highlighted the leadership team promotions (including Essaddam) as integral to commercialization progress in 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Loop Industries | Lead Scientist | Jul 2018–Mar 2022 | Co‑inventor of GEN II depolymerization; foundational R&D leadership |
| Loop Industries | VP, Science & Innovation | Mar 2022–Mar 2025 | Negotiated/implemented strategic JVs and tech licensing; supported facility development |
| Loop Industries | Chief Operating Officer | Mar 5, 2025–present | Leads operations/R&D; supports commercialization and global licensing rollout |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| JV with Reed Societe Generale Group | Board member | Not disclosed | Oversight of JV strategy and deployment of Loop’s technology |
| JV with Ester Industries Ltd. | Board member | Not disclosed | Oversight of JV strategy and deployment of Loop’s technology |
Fixed Compensation
- Base salary, target bonus %, and actual bonus for Essaddam are not disclosed in the latest proxy, which provides scaled NEO disclosure and did not include the COO as a named executive officer .
Performance Compensation
- Specific short‑term performance metrics, weightings, and payouts for Essaddam are not disclosed. Company‑wide design emphasizes cash STIs tied to annual financial/operational goals and long‑term equity awards (options and RSUs), with pay‑for‑performance orientation overseen by an independent Compensation Committee .
Equity Ownership & Alignment
Beneficial Ownership Snapshot (Form 3 as of March 2025)
| Title of Security | Amount Beneficially Owned | Detail / Notes |
|---|---|---|
| Common Stock | 2,000 | Direct ownership |
| RSUs | 20,497 | 4,099 vested on 3/19/2024; 4,099 vest on 3/19/2025; 12,299 vest on 3/19/2026, subject to continued employment |
| Total (Common + RSUs) | 22,497 | As reported on Form 3 (beneficial ownership) |
- Company common shares outstanding were 47,718,350 as of May 20, 2025 (for context; percentage ownership not explicitly disclosed for Essaddam) .
RSU Vesting Schedule
| Vesting Date | Units |
|---|---|
| Mar 19, 2024 | 4,099 |
| Mar 19, 2025 | 4,099 |
| Mar 19, 2026 | 12,299 |
Stock Option Awards and Vesting
| Grant Description | Strike | Expiration | Vesting Milestones |
|---|---|---|---|
| 350,000 options | $12.00 | Sep 14, 2027 | 100,000 vested on 9/14/2017; option fully vested by 9/14/2022 |
| 324,000 options | $2.68 | Nov 28, 2032 | 100,000 vested on 11/28/2022; 50,000 on 11/28/2023; 50,000 on 11/28/2024; remaining tranches: 50,000 on 11/28/2025; 50,000 on 11/28/2026; 24,000 on 11/28/2027 (subject to continued employment) |
| 72,371 options | $2.89 | Mar 7, 2034 | 18,092 vested on 3/7/2025; remaining 54,279 vest ratably in equal tranches on 3/7/2026, 3/7/2027, 3/7/2028 (subject to continued employment) |
- Liquidity/pressure context: During the six months ended Aug 31, 2025, LOOP issued shares via ATM at an average offering price of $1.66, indicating option strikes of $12.00, $2.68, and $2.89 were out‑of‑the‑money at that time .
Alignment and Restrictions
- Insider Trading Policy prohibits short sales, hedging and pledging of company securities; pledging may be permitted only with preclearance. Directors and officers must pre‑clear trades; Rule 10b5‑1 plan guidelines apply with cooling‑off periods .
- The company notes no single‑trigger change‑in‑control benefits for named executive officers, no tax gross‑ups, and emphasizes at‑risk compensation tied to performance or stock price .
Employment Terms
- Promotion effective date: March 5, 2025 (COO) .
- Executive officers serve at the Board’s discretion absent an employment agreement; no specific employment agreement, severance, or change‑of‑control terms are disclosed for Essaddam in the proxy/8‑K .
- Company‑wide governance: Independent Compensation Committee; scaled SRC disclosure; pay philosophy refined with external consultants; say‑on‑pay approval in 2024 was 99.57% .
Investment Implications
- Compensation alignment: Essaddam’s equity mix (RSUs and multi‑year option schedules) ties realized value to stock performance and continued employment, aligning incentives with commercialization milestones and shareholder outcomes .
- Retention risk and selling pressure: RSUs vest in 2025–2026 and options have vesting/expirations through 2027–2034, creating retention hooks; given ATM pricing of $1.66 in H1 FY2026, most option tranches were OTM at that time, reducing near‑term exercise‑driven selling pressure .
- Governance risk mitigants: Prohibitions on hedging/shorting and restricted pledging reduce misalignment risks; absence of single‑trigger CIC and gross‑ups is shareholder‑friendly .
- Execution risk: As co‑inventor of core GEN II technology and R&D leader now in COO role, Essaddam is central to scaling Infinite Loop plants and JV execution in India and Europe; leadership promotions underscore confidence but elevate key‑person risk tied to technology deployment .