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WEST WARWICK, RI - AstroNova, Inc. (NASDAQ:ALOT), a global leader in data visualization technologies with annual revenue of $156 million, has announced amendments to its Senior Executive Short-Term Incentive Plan (STIP) and the granting of Stock-Settled Performance Awards under its 2018 Equity Incentive Plan. According to InvestingPro data, the company’s shares have declined 38% over the past six months, highlighting the importance of these compensation adjustments.
The amendments, made by the Human Capital and Compensation Committee of the Board of Directors on Thursday, include the introduction of corporate performance goals related to revenue and adjusted operating cash flow, as well as segment-level goals for the fiscal year 2026. These changes come as the company faces profitability challenges, with InvestingPro data showing a negative earnings per share of -$2.13 in the last twelve months. The target award percentages for the fiscal year 2026 remain unchanged, with President and CEO Gregory Woods’ target award set at 80% of his base salary.
AstroNova’s incentive plan adjustments reflect the company’s strategic realignment following previously announced restructuring actions. The revised STIP aims to closely align executive compensation with the company’s operational performance and shareholder interests.
In addition to the STIP amendments, the company approved a form of Stock-Settled Performance Award Agreement to facilitate the issuance of performance-based stock awards. The Committee granted awards to key executives, including Woods and CFO Thomas DeByle, with reference values ranging from $98,000 to $715,500 based on the achievement of specific performance goals by the end of the fiscal year 2028.
The performance goals for the awards are tied to cumulative organic sales growth and adjusted EPS, with threshold, target, and superior performance levels established. The final number of shares awarded will be determined by the company’s performance against these metrics.
AstroNova’s commitment to aligning executive compensation with company performance underscores its strategic focus on delivering long-term shareholder value.
This report is based on a press release statement from AstroNova, Inc. and does not include any analysis or commentary.
In other recent news, AstroNova Inc. reported a 14.4% increase in revenue for the first quarter of fiscal year 2026, totaling $37.7 million. Despite a net loss of $400,000, or $0.05 per share, the company highlighted strategic initiatives in product innovation and cost reduction. AstroNova’s adjusted EBITDA increased by 27.6% year-over-year, reaching $3.1 million. The company maintains a strong liquidity position with $12.6 million available, including $5.4 million in cash. AstroNova has provided full-year revenue guidance of $160 million to $165 million, anticipating a 7% growth year-over-year. The company is also focusing on launching new product identification solutions and transitioning customers to its ToughRider printers. Additionally, they secured a $10 million multi-year contract for their ToughRider products with a defense contractor. These developments reflect AstroNova’s strategic focus on expanding its product portfolio and enhancing its market position.
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