Clearfield Management

Management criteria checks 4/4

Clearfield's CEO is Cheri Beranek, appointed in Jun 2007, has a tenure of 16.92 years. total yearly compensation is $1.06M, comprised of 40% salary and 60% bonuses, including company stock and options. directly owns 3.04% of the company’s shares, worth €12.87M. The average tenure of the management team and the board of directors is 5.7 years and 12.2 years respectively.

Key information

Cheri Beranek

Chief executive officer

US$1.1m

Total compensation

CEO salary percentage	40.0%
CEO tenure	16.9yrs
CEO ownership	3.0%
Management average tenure	5.7yrs
Board average tenure	12.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Cheri Beranek's remuneration changed compared to Clearfield's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	US$13m
Sep 30 2023	US$1m	US$425k	US$33m
Jun 30 2023	n/a	n/a	US$47m
Mar 31 2023	n/a	n/a	US$54m
Dec 31 2022	n/a	n/a	US$53m
Sep 30 2022	US$2m	US$374k	US$49m
Jun 30 2022	n/a	n/a	US$40m
Mar 31 2022	n/a	n/a	US$33m
Dec 31 2021	n/a	n/a	US$28m
Sep 30 2021	US$2m	US$362k	US$20m
Jun 30 2021	n/a	n/a	US$16m
Mar 31 2021	n/a	n/a	US$13m
Dec 31 2020	n/a	n/a	US$10m
Sep 30 2020	US$822k	US$351k	US$7m
Jun 30 2020	n/a	n/a	US$6m
Mar 31 2020	n/a	n/a	US$4m
Dec 31 2019	n/a	n/a	US$4m
Sep 30 2019	US$537k	US$322k	US$5m
Jun 30 2019	n/a	n/a	US$5m
Mar 31 2019	n/a	n/a	US$5m
Dec 31 2018	n/a	n/a	US$4m
Sep 30 2018	US$335k	US$322k	US$4m
Jun 30 2018	n/a	n/a	US$4m
Mar 31 2018	n/a	n/a	US$3m
Dec 31 2017	n/a	n/a	US$4m
Sep 30 2017	US$336k	US$322k	US$4m

Compensation vs Market: Cheri's total compensation ($USD1.06M) is about average for companies of similar size in the German market ($USD1.04M).

Compensation vs Earnings: Cheri's compensation has been consistent with company performance over the past year.

CEO

Cheri Beranek (61 yo)

16.9yrs

Tenure

US$1,061,862

Compensation

Ms. Cheryl P. Beranek, also known as Cheri, serves as Director at Key Tronic Corporation from December 2023. She has been Chief Executive Officer and President at Clearfield, Inc. (formerly, APA Enterprise...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Cheryl Beranek	CEO, President & Director	16.9yrs	US$1.06m	3.04% $ 12.9m
Daniel Herzog	Chief Financial Officer	12.8yrs	US$666.39k	0.36% $ 1.5m
John Hill	Chief Operating Officer	15.6yrs	US$1.06m	1.29% $ 5.5m
Skip Hansen	Chief Information Officer	1.8yrs	no data	no data
Frank Brixius	General Counsel & Secretary	less than a year	no data	no data
Kevin Morgan	Chief Marketing Officer	7.8yrs	no data	no data
Bob Cody	Vice President of Human Resources & Office of Resource Management	1.8yrs	no data	no data
Allen Griser	Chief Commercial Officer	3.7yrs	no data	no data

5.7yrs

Average Tenure

59yo

Average Age

Experienced Management: AP7's management team is seasoned and experienced (5.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Cheryl Beranek	CEO, President & Director	16.8yrs	US$1.06m	3.04% $ 12.9m
Ronald Roth	Independent Chairman of the Board	22.3yrs	US$49.96k	9.58% $ 40.6m
Charles Hayssen	Independent Director	15.7yrs	US$109.96k	0.93% $ 3.9m
Patrick Goepel	Independent Director	8.7yrs	US$99.96k	0.29% $ 1.2m
Donald Hayward	Independent Director	16.8yrs	US$109.96k	0.080% $ 338.7k
Carol Wirsbinski	Independent Director	2.4yrs	US$109.19k	0.027% $ 115.1k
Roger Harding	Independent Director	7.8yrs	US$99.96k	0.20% $ 847.5k
Walter Jones	Independent Director	2.4yrs	US$99.96k	0.032% $ 133.7k

12.2yrs

Average Tenure

63yo

Average Age

Experienced Board: AP7's board of directors are seasoned and experienced ( 12.2 years average tenure).

Clearfield Management

Management criteria checks 4/4

Key information

Recent management updates

Independent Director recently bought €176k worth of stock

Clearfield, Inc., Annual General Meeting, Feb 22, 2024

Independent Chairman of the Board recently bought €186k worth of stock

Clearfield, Inc., Annual General Meeting, Feb 23, 2023

Independent Director recently sold €189k worth of stock

Independent Director recently sold €177k worth of stock

Recent updates

Clearfield, Inc. to Report Q2, 2024 Results on May 02, 2024

Independent Director recently bought €176k worth of stock

Clearfield Develops 3D Interactive Fiber Installation Tool

First quarter 2024 earnings released: US$0.35 loss per share (vs US$1.01 profit in 1Q 2023)

Clearfield, Inc. Provides Earnings Guidance for the Second Quarter of Fiscal 2024

Clearfield® Streamlines Its Supply Chain with Craftsmart® Fiber Protection Vault for Underground Deployments

Clearfield, Inc. to Report Q1, 2024 Results on Feb 01, 2024

Clearfield, Inc., Annual General Meeting, Feb 22, 2024

Clearfield, Inc. Provides Earnings Guidance for the Fiscal First Quarter 2024

New minor risk - Profit margin trend

Full year 2023 earnings released: EPS: US$2.17 (vs US$3.58 in FY 2022)

Clearfield, Inc. to Report Q4, 2023 Results on Nov 09, 2023

Clearfield Delivers FiberFirst 6-inch Pedestal to Facilitate Fiber Homes Connected

Now 20% undervalued after recent price drop

Clearfield, Inc. Announces the Launch of Its FieldShield blowable MPO fibre assemblies

Clearfield, Inc. Improves First Pass Yield in Fiber Networks by Expanding Product Line to Include ClearPass Dust Cap

Clearfield, Inc. Revises Earnings Guidance for the Fiscal Year 2023

Third quarter 2023 earnings released: EPS: US$0.34 (vs US$0.93 in 3Q 2022)

Clearfield, Inc. to Report Q3, 2023 Results on Aug 03, 2023

New major risk - Share price stability

Investor sentiment improves as stock rises 16%

Second quarter 2023 earnings released: EPS: US$0.68 (vs US$0.67 in 2Q 2022)

Clearfield, Inc. Revises Earnings Guidance for the Fiscal Year 2023

Investor sentiment deteriorates as stock falls 18%

Independent Chairman of the Board recently bought €186k worth of stock

First quarter 2023 earnings released: EPS: US$1.01 (vs US$0.76 in 1Q 2022)

Clearfield, Inc. Provides Earnings Guidance for the Fiscal Year 2023

Investor sentiment deteriorated over the past week

Clearfield, Inc. to Report Q1, 2023 Results on Feb 02, 2023

Clearfield, Inc., Annual General Meeting, Feb 23, 2023

Investor sentiment deteriorated over the past week

Clearfield, Inc. has completed a Follow-on Equity Offering in the amount of $120 million.

Investor sentiment improved over the past week

Full year 2022 earnings released: EPS: US$3.58 (vs US$1.48 in FY 2021)

Clearfield, Inc. Provides Net Sales Guidance for the Fiscal Year 2023

Clearfield, Inc. to Report Q4, 2022 Results on Nov 17, 2022

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Independent Director recently sold €189k worth of stock

Clearfield® Clears Path for Fiber Broadband with Craftsmart® Fiberfirst Pedestal

Independent Director recently sold €177k worth of stock

Independent Director recently sold €1.0m worth of stock

Investor sentiment improved over the past week

Third quarter 2022 earnings released: EPS: US$0.93 (vs US$0.44 in 3Q 2021)

Clearfield, Inc. Increases Sales Guidance for the Year 2022

Clearfield, Inc. (NasdaqGM:CLFD) acquired Nestor Cables Oy.

Clearfield, Inc. to Report Q3, 2022 Results on Jul 28, 2022

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

Clearfield, Inc. (NasdaqGM:CLFD) agreed to acquire Nestor Cables Oy for $23 million.

Second quarter 2022 earnings released: EPS: US$0.67 (vs US$0.27 in 2Q 2021)

Clearfield, Inc. to Report Q2, 2022 Results on Apr 28, 2022

Investor sentiment improved over the past week

Clearfield Introduces FieldSmart 96-Port PON Cabinet for Rural Deployments

Independent Chairman of the Board recently bought €108k worth of stock

Investor sentiment improved over the past week

First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat

Clearfield, Inc. Increases Sales Guidance for the Year 2022

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

High number of new directors

Independent Director recently sold €281k worth of stock

Independent Director recently sold €582k worth of stock

Full year 2021 earnings released: EPS US$1.48 (vs US$0.54 in FY 2020)

Investor sentiment improved over the past week

Independent Director recently sold €234k worth of stock

Independent Director recently sold €231k worth of stock

Clearfield’s StreetSmart™ Collector Box Cuts Fiber Cabling Space Requirements by a Third

Third quarter 2021 earnings released: EPS US$0.44 (vs US$0.22 in 3Q 2020)