Credo Awards CEO 1.44M Performance Shares Tied to $7.5B Revenue and $489 Stock Price
CRDO has more than doubled off its 52-week low of $86.485 on light trading volume (0.3× avg).
Summary
Credo's definitive proxy reveals a 1.44M-share performance award for CEO Bill Brennan tied to $7.5B revenue and $489 stock price, plus a related party hire of the CEO's family member.
Key Events · Corporate Governance and Compliance · CRDO
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CEO Granted 1.44M Performance Shares
Board approved FY27 CEO PSUs on May 28, 2026: 1,437,000 shares across six tranches requiring revenue of $2.5B to $7.5B and stock price of $244.70 to $489.40 by June 30, 2031.
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First Tranche Hurdle Near Current Price
Tranche 1 requires $2.5B revenue and $244.70 stock price — only 8% above today's $227.03. If achieved, 239,500 shares vest.
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Five-Year Front-Loaded Award
The FY27 CEO PSUs are intended to be the CEO's only equity grant for five years, with a one-year post-vesting holding period.
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Related Party Transaction Disclosed
A family member of CEO Bill Brennan has been employed as ESG Manager since September 30, 2025, with compensation exceeding $120,000 annually.
Analysis · CRDO · Manufacturing
The proxy reveals a massive front-loaded CEO equity award approved May 28, 2026: 1,437,000 performance shares across six tranches requiring revenue to nearly quadruple to $7.5 billion and the stock to more than double to $489.40 by fiscal 2031. At today's $227.03 price, the first tranche's $244.70 hurdle is already within 8% — meaning 239,500 shares could vest quickly if revenue hits $2.5 billion. The award is designed to be the CEO's only equity grant for five years, but its size and the 123:1 pay ratio will draw shareholder scrutiny at the October 12 vote. Separately, the proxy discloses a related party transaction: the CEO's family member has been employed as ESG Manager since September 2025 at over $120,000 annually.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 29.6% of the 2856 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CRDO was trading at $227.03 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $42.2B. The 52-week trading range was $86.49 to $308.67. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.