Company: AAOI
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001104659-25-036344
Chunk: 60

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 60
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, Inc. 
 Alpha and Omega Semiconductor Limited Aviat Networks, Inc. 
                                                 CEVA, Inc. 
                                           Clearfield, Inc. 
                                                 Cohu, Inc. 
                                                    Comtech 
                                         Telecommunications 
                                    Digi International Inc. 
                                              Harmonic Inc. 
                                  indie Semiconductor, Inc. 
                                              NETGEAR, Inc. 
                                              OneSpan, Inc. 
                                           Photronics, Inc. 
                                                     Ribbon 
                                        Communications Inc. 
              Semtech Corporation SkyWater Technology, Inc. 
                               Vishay Precision Group, Inc. 
                                                 Xperi Inc. | ​ | ​ |

The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the compensation benchmarking peers, respectively. Historical stock performance is not necessarily indicative of future stock performance. As described in the Compensation Discussion and Analysis section of this Proxy Statement, after the compensation committee reviewed our compensation peer group in the third quarter of 2023, the compensation committee updated the peer group criteria and the peer group companies that were used to assist with the determination of compensation for our executive officers for fiscal 2024. If the previous peer group had been used to calculate the peer group TSR, the amounts shown for 2024, 2023, 2022, 2021 and 2020 would have been $ 156.26, $ 178.88, $ 178.07, $ 215.25, and $ 142.68, respectively

(5)

We determined Non-GAAP EBITDA to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2024. A definition of Non-GAAP EBITDA is provided in the Compensation Discussion and Analysis section of this Proxy Statement, and a reconciliation of Non-GAAP EBITDA to GAAP is attached to this Proxy Statement as Appendix A.

Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and TSR The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s and Peer Group’s cumulative TSR over the five most recently completed fiscal years.

42

TABLE OF CONTENTS Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation