Byrna Technologies Details Executive Compensation, Former CEO Payout, and New Leadership Terms in Amended 10-K
BYRN is trading near its 52-week low of $8.75 (1.1% above the low).
Summary
Byrna Technologies filed an amended 10-K detailing executive compensation, including a significant equity payout to the former CEO and substantial packages for new leadership, alongside disclosing multiple late insider trading reports.
Key Events · Executive and Board Changes · BYRN
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Former CEO Receives Substantial Equity Payout
Bryan Ganz, former Chief Executive Officer, received 545,000 restricted stock units upon his retirement effective March 2, 2026. This payout is valued at approximately $4.82 million based on the current stock price, representing a significant allocation of equity.
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New CEO Compensation Package Detailed
Conn Davis, appointed CEO on March 2, 2026, will receive an annual base salary of $450,000, a target annual bonus of 100% of base salary, and target annual equity awards totaling $1 million (50% time-based, 50% performance-based RSUs), plus a $250,000 performance-based new-hire equity award.
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President's Compensation and Promotion Award Outlined
Luan Pham, promoted to President on March 17, 2026, will receive an initial annual base salary of $380,000, an 80% target annual bonus, and a target annual long-term incentive equity grant of $380,000. He also received a promotion retention award of 20,810 shares, half of which are performance-based.
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Multiple Delinquent Insider Trading Reports Disclosed
The company reported several instances of delinquent Section 16(a) filings for executives and directors during 2025, including late Form 4s for Mr. Brasseur, Mr. Pham, and Ms. Kearnes, and late Form 3s for Mr. Kennedy and Mr. Roth, indicating compliance issues.
Analysis · BYRN · Manufacturing
This amended 10-K provides critical details on executive compensation and corporate governance, which were omitted from the original filing. The most significant disclosures include the substantial equity payout to former CEO Bryan Ganz, valued at approximately $4.82 million in restricted stock units, and the comprehensive compensation packages for new CEO Conn Davis and newly appointed President Luan Pham. These significant executive compensation figures, particularly the payout to the departing CEO while the stock trades near its 52-week low, could raise investor concerns about capital allocation and executive incentives. Additionally, the disclosure of multiple delinquent Section 16(a) reports for several executives and directors indicates compliance weaknesses, which is a negative governance signal. Investors should monitor the impact of the new leadership's strategic direction and the company's efforts to improve compliance.
At the time of this filing, BYRN was trading at $8.85 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $200.6M. The 52-week trading range was $8.75 to $34.30. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.