Brent Stringham
About Brent Stringham
Brent Stringham is Chief Financial Officer of Lantronix (appointed January 6, 2025), after serving as Interim CFO and Chief Accounting Officer from September 2024; he has been with Lantronix since 2012 and is 46 years old . He previously held finance roles at Iteris, Netlist, and Ernst & Young, holds a B.S. in Business Administration/Accounting from Cal State Fullerton, and is a licensed CPA . FY2025 incentive metrics tied to executive pay were non-GAAP net income for annual bonuses (company achieved ~33% of target, resulting in 0% payout), and multi-year PSU metrics included Revenue CAGR, Non-GAAP EPS CAGR, and Relative TSR vs Russell Microcap; FY2025 PSU tranche paid 0% given -23% revenue CAGR and -65% non-GAAP EPS CAGR . Company-level pay-versus-performance showed LTRX TSR value of a fixed $100 investment at $53.35 for FY2025 and net income of -$11.373 million .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lantronix | CFO | 2025–present | Finance leadership through transition; alignment of incentives to company metrics |
| Lantronix | Interim CFO & Chief Accounting Officer | 2024–2025 | Stabilized finance function; established interim compensation and retention framework |
| Lantronix | Senior Director of Finance & Corporate Controller | 2012–2024 | Built internal controls and reporting foundation |
| Iteris Inc. | Controller | 2009–2012 | Led controllership for smart mobility tech company |
| Netlist Inc. | Controller | 2007–2009 | Managed financial operations in memory subsystems |
| Ernst & Young LLP | Audit Manager | 2000–2007 | Audited public companies; established technical accounting expertise |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Iteris Inc. | Controller | 2009–2012 | External employer prior to Lantronix |
| Netlist Inc. | Controller | 2007–2009 | External employer prior to Lantronix |
| Ernst & Young LLP | Audit Manager | 2000–2007 | External employer prior to Lantronix |
Fixed Compensation
| Component | Terms | FY | Notes |
|---|---|---|---|
| Base Salary | $310,000 | 2025 | Set upon appointment as CFO (effective Jan 6, 2025) |
| Target Bonus | 50% of base | 2025 | Annual bonus based on company performance criteria |
| Base Salary (Interim) | $267,000 | 2024–2025 | Set at Sept 14, 2024 appointment as Interim CFO/CAO |
| Target Bonus (Interim) | 40% of base | 2024–2025 | Under FY2025 bonus plan |
| Retention Bonus | $100,000 one-time | 2024–2025 | Payable at 1-year mark or certain terminations |
| Actual Annual Bonus Paid | $0 | 2025 | Company achieved ~33% of non-GAAP net income target (below threshold) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Non-GAAP Net Income (Annual Bonus) | 100% | $16,591,000 | ~33% of target | 0% of target bonus | Annual, subject to employment through payment date |
| RSU Award (Interim package) | N/A | $145,000 grant value | N/A | N/A | 1/3 vests 9/1/2025; remaining vests ratably quarterly over 8 quarters (subject to continued employment) |
- Company PSU frameworks for named executives used Revenue CAGR and Non-GAAP EPS CAGR with Relative TSR overlay; FY2025 tranche vested 0% given -23% revenue CAGR and -65% non-GAAP EPS CAGR (context for pay-for-performance alignment) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (shares) | 85,440 shares (included in group tally) |
| Shares outstanding (record date) | 39,271,361 shares |
| Ownership as % of shares outstanding | ~0.22% (85,440 / 39,271,361) |
| Vested vs unvested | RSU grant vests 1/3 on 9/1/2025 and quarterly thereafter over eight quarters; continued employment required |
| Options | Not disclosed in Stringham’s packages; RSU-focused interim award |
| Hedging/Pledging | Company prohibits hedging and pledging by officers |
| Executive stock ownership guidelines | None established for executives (directors have guidelines; executives do not) |
| Insider Forms | Reported changes via Forms 4 (e.g., June 3, 2025 and July 15, 2025 filings; RSU vesting activity also reported 9/1/2025) |
Note: Form 4 entries reflect vesting/settlement and administrative movements; they do not necessarily indicate open-market selling .
Employment Terms
| Provision | Base Case Termination (without Cause / Good Reason) | Change-in-Control (double trigger) |
|---|---|---|
| Cash severance | 6 months base salary + 100% of FY2025 Company bonus; paid lump sum | 12 months base salary + 100% of target bonus; paid lump sum |
| Equity treatment | Continued vesting for 12 months post-termination | Full acceleration of all outstanding equity awards |
| COBRA benefits | Not specified | Up to 12 months of continued group health/dental/vision coverage |
| Release requirement | Severance contingent on executing and not revoking a release | Same |
| At-will employment | Confirmed in offer letter | N/A |
| Position exclusivity | No outside services without prior consent while employed | N/A |
| Clawback policy | Company maintains executive compensation recovery policy aligned with SEC/Nasdaq rules |
Investment Implications
- Pay-for-performance alignment: FY2025 bonus paid 0% companywide; PSU tranche also vested 0% given negative Revenue/EPS CAGR—reduces near-term cash comp and aligns equity outcomes with underperformance .
- Retention risk mitigants: $100,000 retention bonus and staged RSU vesting create holdbacks through FY2026–FY2027; double-trigger CIC with full equity acceleration adds event-driven retention economics .
- Alignment and governance: Anti-hedging/anti-pledging rules and clawback policy strengthen shareholder alignment; absence of executive ownership guidelines is a modest gap versus best practice .
- Insider selling pressure: Recent Forms 4 show RSU vesting/administrative movements; no evidence here of significant open-market sales; monitor future filings around quarterly vest dates for tax-related dispositions .