Stephen Daly
MACOM Technology Solutions HoldingsAbout Stephen Daly
Stephen G. Daly is President & CEO of MACOM Technology Solutions (since May 2019), a director since March 2015, and Chair of the Board since November 2023; he is 59 and holds a B.S. in Electrical Engineering from Northeastern University . Under his tenure, MACOM’s cumulative TSR rose to $329.94 on a $100 base by FY2024 versus $234.89 for the PHLX Semiconductor Index . FY2024 performance measures included Adjusted EPS of $2.56 and net income of $76.9M . Say‑on‑pay support was 97.5% at the 2024 annual meeting, indicating strong shareholder support for the program design .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Hittite Microwave Corporation | President; CEO; Chairman; Board member | President Jan 2004–Mar 2013; CEO Dec 2004–Mar 2013; Chairman Dec 2005–Mar 2013; Director Jan 2004–May 2013 | Led RF/microwave analog/mixed-signal business; executive leadership across engineering, marketing, sales (built prior to CEO tenure) |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| MACOM Technology Solutions (Board) | Director; Chair of the Board | Director since Mar 2015; Chair since Nov 2023 | Dual role CEO + Chair alongside a Lead Independent Director structure |
| Hittite Microwave Corporation (Board) | Director; Chairman | Director Jan 2004–May 2013; Chairman Dec 2005–Mar 2013 | Governance leadership at prior public company in RF/analog |
Fixed Compensation
| Year | Base Salary ($) | Notes |
|---|---|---|
| FY2022 | 700,000 | As reported in SCT |
| FY2023 | 725,000 | As reported in SCT |
| FY2024 | 775,000 | 6.9% increase to align with peers |
| Item | FY2024 Target |
|---|---|
| Target annual cash incentive (% of salary) | 125% |
| Target bonus ($) | 968,750 |
| Maximum bonus ($) | 1,937,500 |
Performance Compensation
Cash Incentive (Short‑Term) – Structure and FY2024 Outcomes
- Structure: Two semiannual periods; metric = non‑GAAP Adjusted Operating Income; straight‑line interpolation with caps; FY2024 executive bonuses capped at 200% of target .
- Outcomes: H1 FY2024 paid at 4% of first‑half target; H2 FY2024 paid 0%; aggregate FY2024 payout = 2% of full‑year target . Daly’s FY2024 cash incentive paid $19,375 .
| Period | Metric | Threshold / Target / Max ($m) | Actual ($m) | % of Target Earned |
|---|---|---|---|---|
| FY2024 H1 | Adjusted Operating Income | 80.4 / 93.0 / 108.0 | 80.9 | 4% |
| FY2024 H2 | Adjusted Operating Income | 98.6 / 104.6 / 122.6 | 98.0 | 0% |
Long‑Term Equity – Award Design (FY2024 grants on Nov 8, 2023)
- Mix: Approximately 80% performance‑based (Adjusted EPS PSUs + rTSR PSUs) and 20% time‑based RSUs for the CEO .
- Grant sizes (target units):
- rTSR PSUs (3‑yr vs PHLX SOX): 31,684 units; 0–200% payout based on percentile rank; 3‑yr period FY2024–FY2026; vest/settle Nov 2026 if earned .
- Adjusted EPS PSUs: 19,248 units split into three tranches (FY2024; FY2024–2025; FY2024–2026), with 50%/100%/200%/300% at 2.5%/10%/15%/20% growth; straight‑line between points .
- Time‑based RSUs: 12,832 units, vest in equal annual installments on Nov 8, 2024/2025/2026 .
| Component | Grant date | Target units | Vesting/Performance contour |
|---|---|---|---|
| rTSR PSUs | 11/8/2023 | 31,684 | 3‑yr rTSR vs PHLX SOX (FY2024–FY2026); 0–200% payout; vest Nov 2026 if earned |
| Adjusted EPS PSUs | 11/8/2023 | 19,248 | Three tranches: FY2024; FY2024–2025; FY2024–2026; 0–300% payout at 2.5%/10%/15%/20% growth |
| Time‑based RSUs | 11/8/2023 | 12,832 | Time‑based; equal annual vest on 11/8/2024, 11/8/2025, 11/8/2026 |
Performance results affecting outstanding awards:
- FY2022 rTSR PSU cycle (FY2022–FY2024) earned at 200% (88th percentile rTSR) and