Linda Biles
About Linda Biles
Linda M. Biles, age 63, is Executive Vice President – Finance and principal financial officer at M-tron Industries, Inc. (MPTI) since April 16, 2024; she previously served as M-tron’s Vice President & Controller from 2007–2024 and holds a BS in Accounting from Canisius College . Prior roles include Vice President & Chief Financial Officer at AO Precision Manufacturing (1999–2007) . Under current leadership, MPTI delivered record FY2024 results: revenues $49.0M (+19.1% y/y), gross margin 46.2% (+550 bps), EPS $2.65 (+107.4% y/y), and Adjusted EBITDA $11.1M (vs. $7.7M in 2023) . In 2025, the company reported sequential growth with Q1–Q3 revenues of $12.7M, $13.3M, and $14.2M respectively, and nine-month revenues of $40.2M (+11.0% y/y) with backlog reaching $58.8M as of September 30, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| M-tron Industries, Inc. | Vice President & Controller | 2007–2024 | “Played an integral role in shaping MtronPTI’s fiscal strategies and successes” |
| AO Precision Manufacturing | Vice President & Chief Financial Officer | 1999–2007 | Senior finance leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The LGL Group, Inc. | Vice President & Controller | 2020–present | Concurrent finance leadership responsibility |
Fixed Compensation
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Base Salary ($) | 132,018 | 134,240 | 143,374 | 183,462 |
| All Other Compensation ($) | — | — | — | 8,050 |
| Perquisites detail (2024) | — | — | — | 401(k) $5,504; Cell $1,200; Other taxable fringe $1,346 |
| Total Compensation ($) | 159,018 | 161,240 | 295,074 | 540,512 |
Performance Compensation
Annual Cash Bonus
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Bonus Paid ($) | 27,000 | 27,000 | 50,000 | 110,000 |
Equity Awards (RSUs)
| Year | Award Type | Shares Granted (#) | Grant Date | Grant-Date Fair Value ($) | Vesting Term |
|---|---|---|---|---|---|
| 2024 | Restricted stock | 10,000 | Apr 16, 2024 | 239,000 (10,000 × $23.90) | 3-year; 3,333 (2025), 3,333 (2026), 3,334 (2027) |
| 2023 | Restricted stock | 9,000 | Aug 9, 2023 | 101,700 | 3-year; 2,700 (2024), 2,700 (2025), 3,600 (2026) |
| 2022 | Replacement restricted stock (spin-off) | 7,217 (replacing 7,533 LGL shares) | Oct 7, 2022 | — | Same terms as original LGL grant |
Vesting Schedules
| Award | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| 2023 RSU (9,000) | 2,700 | 2,700 | 3,600 | — |
| 2024 RSU (10,000) | — | 3,333 | 3,333 | 3,334 |
Performance Metrics Framework (qualitative)
| Metric | Weighting | Target | Actual | Payout Impact | Disclosure |
|---|---|---|---|---|---|
| Company market value improvement | Not disclosed | Not disclosed | Not disclosed | Considered by Compensation Committee | Narrative policy only |
| Short- and long-term objectives | Not disclosed | Not disclosed | Not disclosed | Considered by Compensation Committee | Narrative policy only |
| Individual goals | Not disclosed | Not disclosed | Not disclosed | Considered by Compensation Committee | Narrative policy only |
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Beneficial ownership (Apr 15, 2025) | 27,960 shares; <1% of 2,915,189 shares outstanding |
| Unvested RSUs at 12/31/2024 | 16,300 shares (10,000 from 2024; 6,300 from 2023) |
| Market value of unvested RSUs (12/31/2024) | $484,300 (2024 grant) and $305,109 (2023 grant) at $48.43/share |
| Hedging/pledging policy | Company discourages hedging/pledging; no formal prohibition |
| Insider trading policy | Formal policy governs insider transactions; available in annual report exhibits |
Employment Terms
- Appointment and role: Executive Vice President – Finance and principal financial officer effective April 16, 2024 .
- Employment agreements: The Company has not entered into employment agreements with its executive officers .
- Clawback: Compliant with NYSE American Rule 10D-1; no clawback actions required in 2024 .
- Related party transactions: No direct or indirect interest requiring disclosure for Ms. Biles per Item 404(a) .
- Say-on-Pay outcomes:
- 2024 Annual Meeting: ~96.9% approval .
- 2025 Annual Meeting: For 1,090,624; Against 44,985; Abstain 9,963; Broker non-votes 970,677 .
Investment Implications
- Pay-for-performance alignment: Increasing variable pay and multi-year RSU grants tie compensation to shareholder value creation; 2024 stock award ($239k) and unvested 16,300 RSUs provide ongoing alignment through 2027 .
- Retention dynamics: Multi-tranche vesting (2025–2027) establishes retention hooks; absence of a formal employment agreement adds flexibility but places greater emphasis on equity incentives and annual bonuses for retention .
- Governance and trading risk: Hedging/pledging is discouraged but not prohibited, a weaker alignment standard versus companies with outright bans; robust say-on-pay support (96.9% in 2024; strong support again in 2025) indicates investor acceptance of the compensation framework .
- Execution context: Company-level performance has been strong (FY2024 record revenue, margin, and earnings; continued growth and backlog expansion in 2025), supporting incentive payouts and alignment of finance leadership with operational gains .