Company: AAOI
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0001104659-25-022149
Chunk: 32

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 32
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 average of the Company’s 30-day average and spot market capitalization; • Revenue: Focus on companies with revenues of $150 million to $900 million based on the Company’s 2023 actual and 2024 revenue projections; represented a range of approximately 0.4x to 2.5x 2024 revenue projections; and • Headcount: Focus on companies with headcounts of 1,100 employees to 6,750 employees based on the Company’s year-end 2023 and projected 2024 headcounts; represented a range of approximately 0.4x to 2.5x 2024 headcount projections. Using the criteria identified above, the compensation committee determined it was appropriate to make the following changes: • Removed Axcelis Technologies, CalAmp, Calix, Casa Systems, DSP Group, EMCORE, Inseego, KVH Industries, and NeoPhotonics; and • Added A10 Networks, ACM Research, CEVA, Clearfield, Comtech Telecommunications, indie Semiconductor, NETGEAR, OneSpan, Semtech, SkyWater Technology, and Vishay Precision Group. Accordingly, the compensation committee established the following compensation peer group for 2024 to assist with the determination of compensation for our executive officers (the “2024 Peer Group”):

| ​ | A10 Networks, Inc.                    | ​ | ​ | Harmonic Inc.             | ​ |
| ​ | ACM Research, Inc.                    | ​ | ​ | indie Semiconductor, Inc. | ​ |
| ​ | ADTRAN, Inc.                          | ​ | ​ | NETGEAR, Inc.             | ​ |
| ​ | Alpha and Omega Semiconductor Limited | ​ | ​ | OneSpan Inc.              | ​ |
| ​ | Aviat Networks, Inc.                  | ​ | ​ | Photronics, Inc.          | ​ |

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| ​ | CEVA, Inc.                       | ​ | ​ | Ribbon Communications, Inc.  | ​ |
| ​ | Clearfield, Inc.                 | ​ | ​ | Semtech Corporation          | ​ |
| ​ | Cohu, Inc.                       | ​ | ​ | SkyWater Technology, Inc.    | ​ |
| ​ | Comtech Telecommunications Corp. | ​ | ​ | Vishay Precision Group, Inc. | ​ |
| ​ | Digi International Inc.          | ​ | ​ | Xperi Inc.                   | ​ |

2024 Compensation Decisions 2024 Base Salary