Bel Fuse Management

Management criteria checks 3/4

Bel Fuse's CEO is Daniel Bernstein, appointed in Jun 1992, has a tenure of 32.42 years. total yearly compensation is $1.53M, comprised of 39.2% salary and 60.8% bonuses, including company stock and options. directly owns 3.32% of the company’s shares, worth €32.64M. The average tenure of the management team and the board of directors is 2.7 years and 8.1 years respectively.

Key information

Daniel Bernstein

Chief executive officer

US$1.5m

Total compensation

CEO salary percentage	39.2%
CEO tenure	32.4yrs
CEO ownership	3.3%
Management average tenure	2.7yrs
Board average tenure	8.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Daniel Bernstein's remuneration changed compared to Bel Fuse's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$55m
Jun 30 2024	n/a	n/a	US$66m
Mar 31 2024	n/a	n/a	US$75m
Dec 31 2023	US$2m	US$600k	US$74m
Sep 30 2023	n/a	n/a	US$76m
Jun 30 2023	n/a	n/a	US$73m
Mar 31 2023	n/a	n/a	US$62m
Dec 31 2022	US$825k	US$400k	US$53m
Sep 30 2022	n/a	n/a	US$47m
Jun 30 2022	n/a	n/a	US$36m
Mar 31 2022	n/a	n/a	US$27m
Dec 31 2021	US$874k	US$400k	US$25m
Sep 30 2021	n/a	n/a	US$20m
Jun 30 2021	n/a	n/a	US$22m
Mar 31 2021	n/a	n/a	US$20m
Dec 31 2020	US$655k	US$400k	US$13m
Sep 30 2020	n/a	n/a	US$3m
Jun 30 2020	n/a	n/a	-US$11m
Mar 31 2020	n/a	n/a	-US$14m
Dec 31 2019	US$830k	US$400k	-US$9m
Sep 30 2019	n/a	n/a	US$2m
Jun 30 2019	n/a	n/a	US$19m
Mar 31 2019	n/a	n/a	US$23m
Dec 31 2018	US$705k	US$400k	US$21m
Sep 30 2018	n/a	n/a	-US$4m
Jun 30 2018	n/a	n/a	-US$10m
Mar 31 2018	n/a	n/a	-US$14m
Dec 31 2017	US$838k	US$400k	-US$12m

Compensation vs Market: Daniel's total compensation ($USD1.53M) is about average for companies of similar size in the German market ($USD1.46M).

Compensation vs Earnings: Daniel's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Daniel Bernstein (70 yo)

32.4yrs

Tenure

US$1,529,476

Compensation

Mr. Daniel Bernstein has been the Chief Executive Officer and President of Bel Fuse Inc. since May 2001 and June 1992 respectively. Mr. Bernstein has been the Managing Director of Macau, a subsidiary of Be...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Daniel Bernstein	President	32.4yrs	US$1.53m	3.32% € 32.6m
Farouq Tuweiq	CFO, Principal Financial Officer & Treasurer	3.8yrs	US$1.16m	0.36% € 3.5m
Suzanne Kozlovsky	Global Head of People	2yrs	US$1.11m	0.095% € 931.8k
Peter Bittner	VP & President of Bel Connectivity Solutions	9.5yrs	US$701.60k	0.23% € 2.3m
Lynn Hutkin	Principal Accounting Officer	3.3yrs	no data	0.16% € 1.6m
Uma Pingali	Global Head of Sales & Marketing	less than a year	no data	no data
Ping Gencianeo	Global ESG Director	2yrs	no data	no data
Steve Dawson	VP & President of Bel Power Solutions & Protection	less than a year	no data	0.13% € 1.3m

2.7yrs

Average Tenure

50yo

Average Age

Experienced Management: BF2A's management team is considered experienced (2.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Daniel Bernstein	President	38.8yrs	US$1.53m	3.32% € 32.6m
Eric Nowling	Independent Director	10.3yrs	US$62.95k	0.098% € 965.3k
Thomas Dooley	Independent Director	4.8yrs	US$45.70k	0.035% € 344.6k
Peter Gilbert	Independent Lead Director	37.8yrs	US$62.67k	0.17% € 1.6m
Mark Segall	Independent Director	13.3yrs	US$58.70k	0.099% € 972.2k
Vincent Vellucci	Independent Director	8.1yrs	US$56.20k	0.059% € 579.9k
David Valletta	Independent Director	less than a year	no data	no data
Rita Smith	Independent Director	4.8yrs	US$84.20k	0.035% € 344.6k
Jacqueline Brito	Independent Director	3.1yrs	US$107.87k	0.034% € 333.1k

8.1yrs

Average Tenure

67yo

Average Age

Experienced Board: BF2A's board of directors are considered experienced (8.1 years average tenure).

Bel Fuse Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

Bel Fuse Inc. Announces the Appointment of Umasankar Pingali as Global Head of Sales and Marketing

Bel Fuse Inc. Announces Executive Changes

Bel Fuse Inc., Annual General Meeting, May 14, 2024

Bel Fuse Inc. Announces John Tweedy to Retire from the Board of Directors

Bel Fuse Inc. Announces Management Changes of the Power and Protection Segment

Recent updates

Bel Fuse Inc. (NasdaqGS:BELF.A) completed the acquisition of 80% stake in Enercon Technologies, Ltd. from Fortissimo fund managed by Fortissimo Capital Management Ltd.

Dividend of US$0.06 announced

Insufficient new directors

Bel Fuse Inc. Provides Earnings Guidance for the Fourth Quarter of 2024

Third quarter 2024 earnings released: EPS: US$0.64 (vs US$1.52 in 3Q 2023)

Bel Fuse Inc. Provides Earnings Guidance for the Fourth Quarter of 2024

Bel Fuse Inc. Announces the Appointment of Umasankar Pingali as Global Head of Sales and Marketing

Bel Fuse Inc. to Report Q3, 2024 Results on Oct 23, 2024

Upcoming dividend of US$0.06 per share

Bel Fuse Inc. (NasdaqGS:BELF.A) entered into a definitive agreement to acquire 80% stake in Enercon Technologies, Ltd. from Fortissimo Capital Management Ltd. for $330 million.

Dividend of US$0.06 announced

Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on its Class A and Class B Shares, Payable on November 1, 2024

Second quarter 2024 earnings released: EPS: US$1.48 (vs US$2.17 in 2Q 2023)

Bel Fuse Inc. to Report Q2, 2024 Results on Jul 24, 2024

Upcoming dividend of US$0.06 per share

Bel Fuse Inc.(NasdaqGS:BELF.B) dropped from Russell Small Cap Comp Growth Index

Bel Fuse Inc. Announces Executive Changes

Bel Fuse Inc.(NasdaqGS:BELF.A) dropped from NASDAQ Telecom Index

Bel Fuse Inc.(NasdaqGS:BELF.B) dropped from NASDAQ Telecom Index

Dividend of US$0.06 announced

Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on Its Class A and Class B Shares, Payable on August 1, 2024

New major risk - Revenue and earnings growth

Bel Fuse Inc. Provides Earnings Guidance for the Second Quarter of 2024

First quarter 2024 earnings released: EPS: US$1.25 (vs US$1.14 in 1Q 2023)

Bel Fuse Inc. to Report Q1, 2024 Results on Apr 25, 2024

Upcoming dividend of US$0.06 per share

Bel Fuse Inc., Annual General Meeting, May 14, 2024

Bel Fuse Inc. Announces John Tweedy to Retire from the Board of Directors

Fourth quarter dividend of US$0.06 announced

Investor sentiment deteriorates as stock falls 19%

New major risk - Revenue and earnings growth

Bel Fuse Inc. (NasdaqGS:BELF.A) announces an Equity Buyback for $25 million worth of its shares.

Bel Fuse Inc. to Report Q4, 2023 Results on Feb 21, 2024

Bel Fuse Inc. Announces Management Changes of the Power and Protection Segment

Insufficient new directors

Bel Fuse Inc. Declares Regular Quarterly Cash Dividend on its Class A and Class B Shares, Payable on February 1, 2024

Third quarter 2023 earnings released: EPS: US$1.52 (vs US$1.33 in 3Q 2022)

Investor sentiment deteriorates as stock falls 17%

Bel Fuse Inc. to Report Q3, 2023 Results on Oct 25, 2023

Upcoming dividend of US$0.06 per share at 0.5% yield

Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on its Class A and Class B Shares, Payable on November 1, 2023

New major risk - Revenue and earnings growth

New major risk - Revenue and earnings growth

Bel Fuse Inc. Provides Sales Guidance for the Third Quarter of 2023

Second quarter 2023 earnings released: EPS: US$2.17 (vs US$1.36 in 2Q 2022)

Investor sentiment improves as stock rises 16%

Bel Fuse Inc. to Report Q2, 2023 Results on Jul 26, 2023

Upcoming dividend of US$0.06 per share at 0.4% yield

PEI-Genesis, Inc. acquired Bel Stewart s.r.o. from Bel Fuse Inc. (NasdaqGS:BELF.A) for $5.0 million.

Investor sentiment improves as stock rises 19%

Investor sentiment improves as stock rises 36%

Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on Its Class A and Class B Shares, Payable on August 1, 2023 and August 1, 2023

First quarter 2023 earnings released: EPS: US$1.14 (vs US$0.41 in 1Q 2022)

Upcoming dividend of US$0.06 per share at 0.7% yield

Insufficient new directors

Full year 2022 earnings released: EPS: US$4.20 (vs US$2.00 in FY 2021)

Bel Fuse Inc. to Report Q4, 2022 Results on Feb 22, 2023

Upcoming dividend of US$0.06 per share

Bel Fuse Inc. Appoints Suzanne Kozlovsky as Global Head of People

Bel Fuse Inc. Appoints Ping Gencianeo as Global ESG Director

Bel Fuse Inc. Announces Regular Quarterly Cash Dividend, Payable on February 1, 2023

Third quarter 2022 earnings released: EPS: US$1.33 (vs US$0.46 in 3Q 2021)

Bel Fuse Inc. to Report Q3, 2022 Results on Oct 26, 2022

Upcoming dividend of US$0.06 per share

Investor sentiment improved over the past week

Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on Its Class A and Class B Shares, Payable on November 1, 2022

Bel Fuse Inc. Announces Retirement of Yk Tso as Zhongshan Operations Director

Second quarter 2022 earnings released: EPS: US$1.36 (vs US$0.64 in 2Q 2021)

CEO Compensation Analysis