Wolfspeed Management

Management criteria checks 1/4

Wolfspeed's CEO is Gregg Lowe, appointed in Sep 2017, has a tenure of 6.75 years. total yearly compensation is $12.48M, comprised of 7% salary and 93% bonuses, including company stock and options. directly owns 0.39% of the company’s shares, worth $12.77M. The average tenure of the management team and the board of directors is 1.7 years and 6.2 years respectively.

Key information

Gregg Lowe

Chief executive officer

US$12.5m

Total compensation

CEO salary percentage	7.0%
CEO tenure	6.8yrs
CEO ownership	0.4%
Management average tenure	1.7yrs
Board average tenure	6.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Gregg Lowe's remuneration changed compared to Wolfspeed's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	-US$559m
Dec 31 2023	n/a	n/a	-US$493m
Sep 24 2023	n/a	n/a	-US$439m
Jun 25 2023	US$12m	US$875k	-US$330m
Mar 26 2023	n/a	n/a	-US$231m
Dec 25 2022	n/a	n/a	-US$214m
Sep 25 2022	n/a	n/a	-US$239m
Jun 26 2022	US$9m	US$875k	-US$295m
Mar 27 2022	n/a	n/a	-US$378m
Dec 26 2021	n/a	n/a	-US$378m
Sep 26 2021	n/a	n/a	-US$336m
Jun 27 2021	US$13m	US$874k	-US$341m
Mar 28 2021	n/a	n/a	-US$240m
Dec 27 2020	n/a	n/a	-US$230m
Sep 27 2020	n/a	n/a	-US$234m
Jun 28 2020	US$7m	US$873k	-US$198m
Mar 29 2020	n/a	n/a	-US$188m
Dec 29 2019	n/a	n/a	-US$154m
Sep 29 2019	n/a	n/a	-US$96m
Jun 30 2019	US$10m	US$845k	-US$118m
Mar 31 2019	n/a	n/a	-US$52m
Dec 30 2018	n/a	n/a	-US$40m
Sep 23 2018	n/a	n/a	US$3m
Jun 24 2018	US$14m	US$581k	-US$16m

Compensation vs Market: Gregg's total compensation ($USD12.48M) is above average for companies of similar size in the UK market ($USD2.46M).

Compensation vs Earnings: Gregg's compensation has increased whilst the company is unprofitable.

CEO

Gregg Lowe (61 yo)

6.8yrs

Tenure

US$12,477,839

Compensation

Mr. Gregg A. Lowe has been the President and Chief Executive Officer at Wolfspeed, Inc. (formerly known as Cree, Inc.) since September 27, 2017. Mr. Lowe served as Chief Executive Officer and President at...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Gregg Lowe	President	6.8yrs	US$12.48m	0.39% $ 12.8m
Neill Reynolds	Executive VP & CFO	5.8yrs	US$5.28m	0.081% $ 2.7m
John Edmond	Co-Founder & Research Fellow	no data	no data	no data
Elif Balkas	Chief Technology Officer	1.4yrs	no data	no data
Priya Almelkar	Senior VP of IT & Chief Information Officer	less than a year	no data	no data
Tyler Gronbach	Vice President of Investor Relations	no data	no data	no data
Bradley Kohn	Chief Legal Officer	no data	no data	no data
Melinda Walker	Director of Corporate Communications	no data	no data	no data
Rick Madormo	Senior Vice President of Global Sales & Marketing	2yrs	no data	no data
Margaret Chadwick	Chief Human Resources Officer	no data	no data	no data
Jay Cameron	Senior VP & GM of Power	no data	no data	no data
Lisa Fritz	Senior Vice President of Global Quality	1.3yrs	no data	no data

1.7yrs

Average Tenure

55yo

Average Age

Experienced Management: 0I4Q's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Gregg Lowe	President	6.8yrs	US$12.48m	0.39% $ 12.8m
Darren Jackson	Independent Director	8.1yrs	US$385.27k	0.043% $ 1.4m
Glenda Dorchak	Independent Director	4.4yrs	US$327.77k	0.0077% $ 252.6k
Clyde Hosein	Independent Director	18.5yrs	US$340.27k	0.042% $ 1.4m
Thomas Werner	Independent Chairman	18.3yrs	US$325.27k	0.053% $ 1.7m
Duy-Loan Le	Independent Director	5.7yrs	US$320.27k	0.032% $ 1.0m
John Replogle	Independent Director	10.4yrs	US$330.27k	0.072% $ 2.4m
Stacy J. Smith	Independent Director	1.4yrs	US$263.61k	0.0096% $ 314.1k
John Hodge	Independent Director	5.7yrs	US$325.27k	0.012% $ 381.2k
Marvin Riley	Independent Director	3.4yrs	US$320.27k	0.0063% $ 205.8k

6.2yrs

Average Tenure

61yo

Average Age

Experienced Board: 0I4Q's board of directors are considered experienced (6.2 years average tenure).

Wolfspeed Management

Management criteria checks 1/4

Key information

Recent management updates

Independent Director recently bought US$258k worth of stock

Insufficient new directors

Wolfspeed, Inc. Announces Board Changes

Wolfspeed, Inc., Annual General Meeting, Oct 23, 2023

Wolfspeed, Inc. Appoints Priya Almelkar as Senior Vice President, IT and Chief Information Officer

Independent Director recently bought US$502k worth of stock

Recent updates

New minor risk - Profitability

Wolfspeed, Inc. Provides Earnings Guidance for the Fourth Quarter of 2024

Third quarter 2024 earnings released: US$1.18 loss per share (vs US$0.80 loss in 3Q 2023)

Jana Partners Urges Wolfspeed to Explore Ways to Other Strategic Alternatives

New minor risk - Profitability

New major risk - Share price stability

New major risk - Share price stability

Independent Director recently bought US$258k worth of stock

Now 21% undervalued after recent price drop

Insufficient new directors

Wolfspeed, Inc. Provides Earnings Guidance for the Third Quarter Ending March 31, 2024

Wolfspeed, Inc. to Report Q2, 2024 Results on Jan 31, 2024

First quarter 2024 earnings released: US$0.99 loss per share (vs US$0.21 loss in 1Q 2023)

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

Wolfspeed, Inc. Announces Board Changes

Wolfspeed, Inc. to Report Q1, 2024 Results on Oct 30, 2023

Wolfspeed, Inc., Annual General Meeting, Oct 23, 2023

MACOM Technology Solutions Holdings, Inc. (NasdaqGS:MTSI) entered into a definitive agreement to acquire The Radio Frequency Business from Wolfspeed, Inc. (NYSE:WOLF) for approximately $130 million.

New minor risk - Profitability

Wolfspeed, Inc. Provides Earnings Guidance for the First Quarter Ending September 24, 2023

Full year 2023 earnings released: US$2.65 loss per share (vs US$2.46 loss in FY 2022)

Wolfspeed, Inc. Appoints Priya Almelkar as Senior Vice President, IT and Chief Information Officer

Wolfspeed, Inc. announced that it expects to receive $1.25 billion in funding from Apollo Global Management, Inc. and other investors.

Wolfspeed, Inc. announced that it expects to receive $1.25 billion in funding from Apollo Global Management, Inc. and other investors.

No longer forecast to breakeven

Independent Director recently bought US$502k worth of stock

Third quarter 2023 earnings released

Wolfspeed, Inc. Announces Management Appointments

Wolfspeed, Inc. Provides Financial Guidance for the Third Quarter of 2023

Second quarter 2023 earnings released: US$0.73 loss per share (vs US$0.82 loss in 2Q 2022)

Forecast breakeven date pushed back to 2025

Wolfspeed, Inc. Appoints Stacy Smith to Board of Directors

Forecast breakeven date moved forward to 2024

Wolfspeed, Inc. to Report Q2, 2023 Results on Jan 25, 2023

Wolfspeed, Inc. Announces Changes to its Chief Technology Officer

Independent Director recently bought US$455k worth of stock

Independent Director recently bought US$225k worth of stock

First quarter 2023 earnings released: US$0.21 loss per share (vs US$0.60 loss in 1Q 2022)

Wolfspeed, Inc. Provides Financial Guidance for the Second Quarter of Fiscal 2023

Wolfspeed, Inc., Annual General Meeting, Oct 24, 2022

Independent Director recently bought US$241k worth of stock

Full year 2022 earnings released: US$2.46 loss per share (vs US$3.04 loss in FY 2021)

Wolfspeed, Inc. Provides Earnings Guidance for the First Quarter of Fiscal Year 2023

Wolfspeed, Inc. to Report Q4, 2022 Results on Aug 17, 2022

Independent Director recently sold US$76k worth of stock

Wolfspeed, Inc. Announces Executive Changes

Independent Director recently bought US$505k worth of stock

President recently bought US$256k worth of stock

Third quarter 2022 earnings released: US$0.54 loss per share (vs US$0.59 loss in 3Q 2021)

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age