Robert J. Pera
UbiquitiAbout Robert J. Pera
Robert J. Pera is the founder, Chief Executive Officer (CEO), and Chairman of Ubiquiti Inc., serving as CEO since the company’s inception in 2003 and as Chairman since December 2012; he is 47 years old and holds a B.A. in Japanese Language, a B.S. in Electrical Engineering, and an M.S. in Electrical Engineering (Digital Communications/RF Circuit Design) from the University of California, San Diego . Under his leadership, FY 2025 revenue rose to $2,573.5 million from $1,928.5 million in FY 2024, and net income increased to $711.9 million from $349.96 million, reflecting strong execution in Enterprise Technology and broader distribution channels . Over the five-year horizon used in pay-versus-performance, the value of an initial fixed $100 investment in UI reached $248 in 2025 (after $87 in 2024), while GAAP net income was $711.9 million in 2025, $349.96 million in 2024, and $407.64 million in 2023 . The company emphasizes Pera’s central role in strategy and operations, supported by decentralized R&D and a community-driven go-to-market model .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ubiquiti Inc. | Founder; Chief Executive Officer | 2003–present | Founder-led operating model; CEO is the CODM; central to strategy, platform development, and capital allocation . |
| Ubiquiti Inc. | Chairman of the Board | December 2012–present | Dual role concentrates leadership; Board uses lead independent director and committees for oversight . |
| Apple Inc. | Wireless Engineer | Jan 2003–Feb 2005 | Pre-Ubiquiti technical experience in consumer technology and RF engineering . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Memphis Grizzlies (NBA) | Controlling Owner | Ongoing (not dated) | Related-party sales of UI products (~$270,000 in FY 2025); potential marketing/product testing collaboration . |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus ($) | Stock Awards ($) | All Other Compensation ($) | Notes |
|---|---|---|---|---|---|---|
| 2025 | 0 | N/A | 0 | 0 | 630,709 | All Other Compensation reflects personal use of company aircraft; methodology disclosed; FICA tax reimbursement included . |
| 2024 | 0 | N/A | 0 | 0 | 810,475 | Aircraft personal use costs and FICA reimbursement . |
| 2023 | 0 | N/A | 0 | 0 | 976,546 | Aircraft personal use costs and FICA reimbursement . |
- CEO pay ratio (FY 2025): 8.83 to 1 (CEO total compensation $630,709 vs median employee $71,435) .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Company-selected financial performance measure (FY 2025 PVP) | N/A | None used | None used | N/A | N/A |
| Notes | The company did not use financial performance measures to link compensation actually paid to company performance for the covered years; Pera received no equity awards FY 2011–FY 2025 due to majority ownership . |
Equity Ownership & Alignment
| As-of Date | Beneficial Ownership (Shares) | % of Outstanding | Vested RSUs | Unvested RSUs | Options (Exercisable/Unexercisable) | Pledging/Hedging |
|---|---|---|---|---|---|---|
| Oct 17, 2025 | 56,278,181 | 93.0% (base 60,499,655 shares outstanding) | — (none) | — (none) | — / — (none outstanding Company-wide; RSUs only) | Insider Trading Policy prohibits hedging in Company securities; risk factor indicates Pera may in future pledge shares, enter derivatives, dispose, or monetize holdings, which could pressure stock price; he intends to keep at least a majority . |
- Stock ownership guidelines: None currently in place .
Employment Terms
| Term | Detail |
|---|---|
| Employment agreement | None disclosed for CEO; employment agreements exist for CAFO only . |
| Base salary | Reduced to $0.00 per fiscal year since July 2013 . |
| Severance/change-in-control | None disclosed for CEO . |
| Non-compete / non-solicit / garden leave | Not disclosed for CEO . |
| Corporate aircraft policy | CEO required to use corporate/private aircraft for all business and personal travel due to bona fide security concern; personal use costs not reimbursed by CEO; Company reimburses FICA taxes tied to personal use; family/guests permitted; costs reported in “All Other Compensation” . |
Board Governance
- Board leadership: Pera is Chairman and largest stockholder; Board deems structure appropriate with lead independent director and independent committees .
- Board and committee meetings: FY 2025 Board held four meetings; all directors attended all Board and committee meetings; independent directors meet in executive session at every Board meeting .
| Governance Element | Detail |
|---|---|
| Independence | Majority of Board meets NYSE independence; all three committees composed solely of independent directors . |
| Lead Independent Director | Ronald A. Sege . |
| Committees (members) | Audit; Compensation; Nominating & Corporate Governance – Messrs. Arrindell, Sege, Torres . |
| Committee chairs | Audit: Rafael Torres; Compensation: Brandon Arrindell; Nominating & Corporate Governance: Ronald A. Sege . |
| Committee activity | Audit met 18x in FY 2025; Compensation met 4x; Nominating & Corporate Governance met 4x . |
| CEO committee roles | Pera does not serve on Board committees; serves as Chairman . |
Director Compensation (Pera)
| Year | Cash Retainer ($) | Equity Grants | Total |
|---|---|---|---|
| 2025 | 0 (as a named executive officer; no director comp) | — | 0 |
- Non-employee directors receive $200,000 annual cash retainer; no additional committee fees; Pera excluded as a named executive officer .
Performance & Track Record
| Year | Revenue ($000) | Net Income ($000) | TSR: Value of $100 Investment |
|---|---|---|---|
| 2023 | 1,940,512 | 407,641 | $103 |
| 2024 | 1,928,490 | 349,960 | $87 |
| 2025 | 2,573,545 | 711,922 | $248 |
- Revenue mix FY 2025: Enterprise Technology $2,254,254 (88%) vs Service Provider Technology $319,291 (12%) .
- Geography FY 2025: North America $1,295,515 (50%), EMEA $999,384 (39%), Asia Pacific $168,843 (7%), South America $109,803 (4%); US revenue $1,193.3 million .
- Capital returns: New $500 million repurchase program authorized Aug 21, 2025; quarterly dividend $0.80 per share announced Aug 22, 2025 .
Compensation Committee Analysis
- Composition and independence: Arrindell (Chair), Sege, Torres; all independent and non-employee directors .
- Responsibilities: Oversees executive compensation policies/plans, approves/allocates pay for executives, approves equity awards, and may engage outside consultants .
- Philosophy: Competitive pay; link cash bonuses to short-term operating goals; equity used selectively; no predefined mix; CEO’s majority ownership cited as rationale for $0 salary and no equity grants FY 2011–FY 2025 .
- Say-on-Pay cadence: Advisory vote every two years; next in 2026; committee considers results in future decisions .
Equity Compensation Plan Information (Context)
- Outstanding awards under 2020 Plan: 100,064 RSUs; no options outstanding; securities available for future issuance 4,848,742 .
- As of June 30, 2025, unrecognized RSU comp cost $14.5 million over ~3.3 years; intrinsic value of all outstanding RSUs $41.2 million .
Risk Indicators & Red Flags
- Concentrated control and potential pledging: Pera’s majority stake enables control over major decisions; he has indicated he may pledge shares, enter derivatives, dispose/monetize holdings; lender forced sales on default could pressure stock; he intends to maintain at least majority ownership .
- Hedging policy: Company prohibits hedging transactions by directors, officers and employees in Company securities (e.g., puts/calls, derivatives); policy filed with 2024 10-K .
- Related party transactions: Sales to Memphis Grizzlies totaled ~$270,000 in FY 2025; audit committee oversees related-party transactions .
Compensation Structure Analysis
- Shift in mix: CEO compensation effectively limited to aircraft perquisite; no base salary, bonus, or equity grants FY 2011–FY 2025, reflecting alignment via ownership rather than incentive plans .
- Performance metrics: Company did not use financial performance measures to link compensation actually paid to performance in FY 2025 PVP disclosure .
- Tax treatment: Company reimburses CEO’s FICA taxes for aircraft personal use; does not reimburse other imputed income taxes .
Employment Terms (Additional)
- CODM role and segment reporting: CEO functions as CODM; business managed as a single operating segment with consolidated net income as primary performance measure .
- No pension/SERP or nonqualified deferred comp participation for named executive officers in FY 2025 .
Investment Implications
- Alignment and retention: Pera’s 93% ownership strongly aligns interests and mitigates traditional retention risk; compensation minimal and not performance-based; strategic continuity remains high given founder-led model .
- Trading signals: Monitor Form 144/Rule 144 activity, any registration right exercises, and potential pledging/margin-related sales; concentrated ownership implies low float sensitivity to large block transactions .
- Governance considerations: Dual CEO-Chairman structure balanced by lead independent director and fully independent committees; Board and committee activity levels are robust (Audit 18x in FY 2025), but independence concerns remain inherent in concentrated control structures .
- Performance backdrop and capital returns: Strong FY 2025 operating results and TSR recovery, coupled with ongoing dividends and a new $500 million buyback, support shareholder returns; however, any large personal stock monetizations could create overhang .