Chad George
About Chad George
Chad George, 48, was appointed President of Optex Systems Holdings, Inc. on August 11, 2025. He holds a BS in Industrial Engineering from Oklahoma State University and an MBA from the University of Texas at Dallas, with 20 years in senior operations and supply chain roles in the defense sector . As context on company performance, Optex’s total shareholder return (TSR) rose ~10% year-over-year in FY2024 and net income increased ~67% year-over-year .
| Company Performance Metric | 2023 | 2024 |
|---|---|---|
| Total Shareholder Return (Value of $100 investment) | 163.78 | 180.52 |
| Net Income ($USD Thousands) | $2,263 | $3,768 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Leonardo DRS | Vice President of Operations & Supply Chain | Jan 2022 – Aug 2025 | Streamlined production processes and enhanced strategic sourcing capabilities |
| Raytheon | Factory Manager & Operations Leader | Apr 2009 – Mar 2021 | Led operations at factory level; senior operations leadership experience |
External Roles
- No public company directorships disclosed; employment agreement permits non-executive director roles at non-profits and other companies provided no conflict with duties and applicable laws .
Fixed Compensation
| Item | Detail |
|---|---|
| Base Salary | $300,000 annually, effective Aug 11, 2025 |
| Annual Base Increase | 3.5% annually per company policy |
| PTO | 200 hours paid vacation + PTO per company policies |
| Benefits | Eligible for group life, medical/dental, AD&D, short-term disability, profit sharing, cafeteria plans, stock purchase/option plans (if applicable), and expense reimbursement |
| Professional Development | Company pays dues/fees for licenses, memberships, continuing education, and relevant conferences |
Performance Compensation
| Component | Metric | Target | Payout Range | Plan Horizon | Vesting/Payment |
|---|---|---|---|---|---|
| Annual Performance Bonus | Financial and/or operating metrics tied to one-year operating plan set by Board/Comp Committee | 30% of base salary | Board discretion ±20% in good faith | 1 year | Paid based on plan outcomes (Board sets metrics annually) |
| Clawback | Incentive-based compensation subject to recovery under Exchange Act Section 10D and Rule 10D-1 | N/A | N/A | Ongoing | Agreement may be unilaterally amended to comply with policy |
Equity Ownership & Alignment
| Award Type | Grant Date | Shares | Vesting | Notes |
|---|---|---|---|---|
| Restricted Stock | Aug 11, 2025 | 10,000 | Vests Jan 1, 2026 | Granted under exemption from registration |
- Hedging is prohibited under the Company’s Insider Trading Policy; no pledging policy disclosure identified in the 2025 proxy .
- No options or additional RSU/PSU grants to Chad George disclosed in the 2025 proxy; outstanding award schedules for NEOs in the proxy did not include him (record date predates his appointment) .
Employment Terms
| Term | Provision |
|---|---|
| Title & Duties | President; reports to CEO; full-time devotion to duties; may engage in permitted external activities that do not conflict with duties |
| Term Length | Initial term through July 1, 2028; automatic 12-month renewals unless 90 days’ prior written notice by either party |
| Termination – For Cause / Death or Disability | Accrued and unpaid salary + any bonus earned through date of termination; cause includes felony, fraud/illegal acts, willful misconduct/gross negligence, failure to perform after warning, securities law violations, material breach |
| Termination – Without Cause or Good Reason | Accrued items + six months’ base salary |
| Good Reason | Company’s uncured material breach; relocation >100 miles without consent; M&A/sale triggering >66% change in voting power or assets sale where obligations not assumed by surviving entity |
| Non-Disclosure & Non-Solicitation (Employees) | Subject to NDA including non-solicitation provisions |
| Non-Compete | 5 years post-employment; prohibits work with entities in same/similar business (including optical assemblies/laser filters); passive investment <5% allowed |
| Non-Solicitation (Customers) | 5 years post-employment; prohibits solicitation/contact of current/former/prospective customers for competitive offerings |
| Other Benefits | Expense reimbursement with substantiation; participation in group plans; PTO and vacation |
| Corporate Bylaw Context | Officers appointed by Board; removal with or without cause; salaries fixed by Board |
Investment Implications
- Compensation alignment: Target bonus tied to annually set financial/operating metrics under a one-year plan, with ±20% discretionary adjustment, and clawback coverage under Rule 10D-1—supportive of pay-for-performance and compliance alignment .
- Vesting and potential selling pressure: The 10,000-share restricted stock grant vests Jan 1, 2026, creating a defined near-term vesting event; no additional equity grants disclosed to Chad George as of the 2025 proxy’s record date .
- Retention risk and mobility: Strong post-employment restrictions (5-year non-compete and non-solicitation of customers) reduce external mobility and may lower near-term departure risk; severance economics are modest (six months’ base salary) for a without-cause or good reason termination .
- Governance and risk controls: Hedging prohibited; no pledging policy disclosed; employment agreement embeds detailed cause/good reason definitions and enables unilateral amendment for clawback policy compliance .