Chris Edmunds
About Chris Edmunds
Chris Edmunds is Senior Vice President and Chief Accounting Officer at Redwire (RDW), serving as CAO since August 2022 after joining as Corporate Controller in November 2020. He is 41, a CPA licensed in Florida and Georgia, with a B.S. in Accounting from Samford University and an M.S. in Accounting from the University of Notre Dame, and previously spent 14 years at Ernst & Young, including as assurance senior manager (2014–2020) . During his tenure, company revenues increased from $137.6 million in FY2021 to $304.1 million in FY2024*, while EBITDA remained negative*, framing a pay-for-performance context for equity-heavy incentives.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Redwire Corporation | Senior Vice President & Chief Accounting Officer | Aug 2022 – Present | Not disclosed |
| Redwire Space, Inc. | Corporate Controller | Nov 2020 – Aug 2022 | Not disclosed |
| Ernst & Young LLP | Assurance Senior Manager | Oct 2014 – Nov 2020 | Not disclosed |
| Ernst & Young LLP | Roles of increasing responsibility | Jul 2006 – Oct 2014 | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in proxy biography | — | — | — |
Fixed Compensation
| Metric | 2024 | 2025 (as of Apr 6, 2025) |
|---|---|---|
| Base Salary ($) | $283,085 | $310,000 (effective 4/6/2025) |
| Target Bonus % of Salary | 40% (unchanged into 2025) | 40% |
| Actual Cash Bonus ($) | $75,867 | — |
| Other Compensation ($) | $10,350 (401(k) match) | — |
Retirement: Company 401(k) match program; Edmunds received $10,350 in 2024 .
Performance Compensation
Equity Awards – RSUs and PSUs Detail
| Award Type | Grant Date | Units | Fair Value ($) | Performance Metric | Target | Payout Range | Vesting Date/Schedule |
|---|---|---|---|---|---|---|---|
| Time-based RSU | 7/1/2022 | 4,012 (unvested at 12/31/2024) | — | N/A | N/A | N/A | 1/3 annually on grant anniversaries |
| Time-based RSU | 7/3/2023 | 13,500 (unvested at 12/31/2024) | — | N/A | N/A | N/A | 1/3 annually on grant anniversaries |
| Time-based RSU | 7/11/2024 | 27,084 (unvested at 12/31/2024) | $201,776 (2024 grant) | N/A | N/A | N/A | 1/3 annually on grant anniversaries |
| Performance-based RSU (PSU) | 7/3/2023 | 20,250 (unearned) | — | Stock price at 12/31/2025 | $5.00 | 0–200% conversion (≤$3.00=0%; $5.00=100%; ≥$7.00=200%) | 12/31/2025 |
| Performance-based RSU (PSU) | 7/11/2024 | 27,084 (unearned) | $342,883 (2024 PSU fair value) | Stock price at 12/31/2026 | $5.00 | 0–200% conversion (≤$3.00=0%; $5.00=100%; ≥$7.00=200%) | 12/31/2026 |
Vesting mechanics: Time-based RSUs vest 1/3 on each of first three anniversaries; PSUs convert based on year-end stock price thresholds, with straight-line interpolation between $3 and $7 .
Stock Options
| Grant Date | Exercisable | Unexercisable | Strike | Expiration | Vesting |
|---|---|---|---|---|---|
| 9/2/2021 | 63,000 | — | $10.03 | 9/2/2031 | 1/3 annually over 3 years |
| 7/1/2022 | 16,051 | 8,025 | $3.13 | 7/1/2032 | 1/3 annually over 3 years |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (Common) | 132,709 shares as of Apr 4, 2025; less than 1% of outstanding |
| Vested vs Unvested RSUs | Unvested time-based RSUs: 4,012 (2022), 13,500 (2023), 27,084 (2024); market values $66,038, $222,210, $445,803 at $16.46 close |
| PSUs Outstanding | 20,250 (12/31/2025 vest testing); 27,084 (12/31/2026 vest testing) |
| Options | Exercisable: 63,000 (2021), 16,051 (2022); Unexercisable: 8,025 (2022) |
| Hedging/Pledging | Company policy prohibits hedging and pledging/margin; reduces misalignment risk |
| Ownership Guidelines | Executive stock ownership guidelines not disclosed in proxy |
Recent insider activity: Edmunds purchased 775 shares at $8.91 on 8/11/2025 (direct ownership 101,941 post-trade) . He purchased 5,500 shares at $5.4599 on 11/14/2025 (direct ownership 107,441 post-trade) .
Employment Terms
| Provision | Detail |
|---|---|
| Employment Agreement | Effective Nov 23, 2020 (Redwire Space, Inc.) |
| Severance (without Cause) | 1/2 of annual salary plus prorated annual bonus at target; subject to release and restrictive covenants |
| Non-Compete/Non-Solicit | 1 year post-termination |
| Change-in-Control | Double-trigger: if terminated without Cause within 24 months post-CIC, 100% unvested stock options and RSUs vest; options/RSUs also vest if not assumed on CIC; death/disability accelerates 100% |
| Clawback | Company-wide clawback policy for restatements and awards subject to recoupment |
| Insider Trading Policy | Hedging and pledging prohibited; insider policy filed with 10-K |
| 2025 Compensation Update | CAO salary increased to $310,000 (effective 4/6/2025); target bonus remains 40% |
Performance & Track Record
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Revenues ($USD) | $137,601,000 [*] | $160,549,000 [*] | $243,800,000 [*] | $304,101,000 [*] |
| EBITDA ($USD) | -$32,992,000* | -$35,300,000* | -$4,811,000* | -$21,403,000* |
Revenues rose each year FY2021–FY2024*, while EBITDA remained negative in FY2024*, underscoring continued emphasis on equity-based alignment and performance-linked PSUs.
Compensation Structure Notes
- 2024 pay mix for Edmunds is equity-heavy: RSU/PSU grant fair value $544,659 vs. cash salary/bonus $358,952, consistent with alignment to shareholder outcomes .
- PSU metrics use absolute year-end stock price hurdles ($3/$5/$7) rather than relative TSR; caps at 200% encourage long-term price performance and retention through performance periods ending 2025 and 2026 .
- No tax gross-ups, SERP, or deferred comp disclosed; limited perquisites (401(k) match) suggest restrained fixed-cost structure .
Upcoming Vesting and Potential Selling Pressure
- Time-based RSUs: 1/3 vest on each grant anniversary; notable upcoming dates include 7/3/2025 (2023 RSUs) and 7/11/2025 (2024 RSUs) .
- PSUs: outcomes determined at 12/31/2025 (20,250 units) and 12/31/2026 (27,084 units) based on stock price; could add supply upon conversion, but subject to performance and continued employment .
- Insider purchases in Aug/Nov 2025 suggest decreased near-term selling pressure and increased alignment .
Investment Implications
- Alignment: Hedging/pledging ban and significant PSUs tied to price create high sensitivity to shareholder outcomes; insider purchases in 2025 strengthen alignment signals .
- Retention Risk: CAO severance is modest (0.5x salary + prorated target bonus) with 1-year non-compete; equity acceleration only on double-trigger CIC, indicating retention balanced against shareholder protections .
- Overhang: Time-based RSU vesting in 2025–2027 and potential PSU conversion in 2025/2026 could add incremental float; magnitude appears limited given Edmunds’ <1% ownership .
- Performance Context: Revenues growing but EBITDA still negative FY2024*, maintaining pressure on operational execution and reinforcing the rationale for performance-weighted equity.
Values retrieved from S&P Global*