Harmonic Management

Management criteria checks 3/4

Harmonic's CEO is Patrick Harshman, appointed in May 2006, has a tenure of 17.92 years. total yearly compensation is $4.83M, comprised of 11.7% salary and 88.3% bonuses, including company stock and options. directly owns 0.7% of the company’s shares, worth $7.18M. The average tenure of the management team and the board of directors is 6.3 years and 11.8 years respectively.

Key information

Patrick Harshman

Chief executive officer

US$4.8m

Total compensation

CEO salary percentage	11.7%
CEO tenure	17.9yrs
CEO ownership	0.7%
Management average tenure	6.3yrs
Board average tenure	11.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Patrick Harshman's remuneration changed compared to Harmonic's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	US$84m
Sep 29 2023	n/a	n/a	US$6m
Jun 30 2023	n/a	n/a	US$22m
Mar 31 2023	n/a	n/a	US$35m
Dec 31 2022	US$5m	US$567k	US$28m
Sep 30 2022	n/a	n/a	US$42m
Jul 01 2022	n/a	n/a	US$35m
Apr 01 2022	n/a	n/a	US$18m
Dec 31 2021	US$5m	US$546k	US$13m
Oct 01 2021	n/a	n/a	US$7m
Jul 02 2021	n/a	n/a	-US$49k
Apr 02 2021	n/a	n/a	-US$13m
Dec 31 2020	US$3m	US$534k	-US$29m
Sep 25 2020	n/a	n/a	-US$37m
Jun 26 2020	n/a	n/a	-US$20m
Mar 27 2020	n/a	n/a	-US$17m
Dec 31 2019	US$3m	US$530k	-US$6m
Sep 27 2019	n/a	n/a	-US$8m
Jun 28 2019	n/a	n/a	-US$28m
Mar 29 2019	n/a	n/a	-US$19m
Dec 31 2018	US$2m	US$515k	-US$21m
Sep 28 2018	n/a	n/a	-US$36m
Jun 29 2018	n/a	n/a	-US$44m
Mar 30 2018	n/a	n/a	-US$73m
Dec 31 2017	US$2m	US$515k	-US$83m

Compensation vs Market: Patrick's total compensation ($USD4.83M) is above average for companies of similar size in the UK market ($USD1.33M).

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

CEO

Patrick Harshman (58 yo)

17.9yrs

Tenure

US$4,831,571

Compensation

Dr. Patrick J. Harshman has been the Chief Executive Officer and President of Harmonic Inc. since May 4, 2006. Dr. Harshman has driven Harmonic’s strategic re-positioning as the worldwide leader in video d...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Patrick Harshman	President	17.9yrs	US$4.83m	0.70% $ 7.2m
Ian Graham	Senior Vice President of Global Sales	3.7yrs	US$1.39m	0.13% $ 1.3m
Neven Haltmayer	Senior Vice President of Video R&D	13.1yrs	US$1.53m	0.14% $ 1.4m
Nimrod Ben-Natan	Senior VP & GM of Broadband Business	11.8yrs	US$1.53m	0.36% $ 3.7m
Walter Jankovic	Chief Financial Officer	less than a year	no data	no data
Jean-Marc Guiot	Senior Vice President of Operations & IT	5.3yrs	no data	no data
Michael Smiley	Finance & Investor Relations Manager	no data	no data	no data
Timothy Chu	General Counsel	10.5yrs	no data	no data
Crystele Trevisan-Jallu	Senior Vice President of Corporate Marketing & Communications	5.3yrs	no data	no data
Jeremy Rosenberg	Senior Vice President of Business Development	7.3yrs	no data	0.14% $ 1.4m
Tim Warren	Senior VP of Innovation & Chief Cybersecurity Officer	no data	US$904.51k	no data
Gill Rudge	Senior Vice President of Video Products	2.3yrs	no data	no data

6.3yrs

Average Tenure

56.5yo

Average Age

Experienced Management: 0J38's management team is seasoned and experienced (6.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Patrick Harshman	President	17.9yrs	US$4.83m	0.70% $ 7.2m
David Krall	Independent Director	6.2yrs	US$199.31k	0.14% $ 1.4m
Susan Swenson	Independent Director	12.2yrs	US$205.31k	0.22% $ 2.3m
Patrick Gallagher	Independent Chairman of the Board	16.5yrs	US$249.31k	0.25% $ 2.6m
Mitzi Reaugh	Independent Director	11.8yrs	US$203.81k	0.25% $ 2.6m
Deborah Clifford	Independent Director	5.5yrs	US$201.10k	0.096% $ 991.5k
Sophia Kim	Independent Director	1.8yrs	US$128.23k	0.019% $ 198.5k

11.8yrs

Average Tenure

58yo

Average Age

Experienced Board: 0J38's board of directors are seasoned and experienced ( 11.8 years average tenure).

Harmonic Management

Management criteria checks 3/4

Key information

Recent management updates

Harmonic Inc. Announces Chief Executive Officer Changes

Insufficient new directors

Harmonic Inc Appoints Walter Jankovic as Chief Financial Officer

Harmonic Inc. Announces Resignation of Sanjay Kalra as Senior Vice President, Effective March 3, 2023

Insufficient new directors

Senior VP & GM of Broadband Business recently sold US$745k worth of stock

Recent updates

Scopia Capital Management L P Engages with Harmonic Inc

Investor sentiment deteriorates as stock falls 17%

Harmonic Introduces In-Stream Advertising for Live Sports Streaming

Harmonic Inc. Announces Chief Executive Officer Changes

Harmonic to Showcase Fiber-Made-Simple Solutions at FTTH Conference 2024

Investor sentiment improves as stock rises 17%

New major risk - Earnings quality

Full year 2023 earnings released: EPS: US$0.75 (vs US$0.27 in FY 2022)

Harmonic Inc. to Report Q4, 2023 Results on Jan 29, 2024

Third quarter 2023 earnings released: US$0.058 loss per share (vs US$0.083 profit in 3Q 2022)

Harmonic Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year 2023

Harmonic Brings Industry-Leading Density to 10G Fiber Networks with New OLT Shelf

Harmonic Extends Lead in Virtualized Broadband

Harmonic Inc. to Report Q3, 2023 Results on Oct 30, 2023

Scopia Capital Management Engages in Discussions with Harmonic

Scopia Capital Management Engages in Discussions with Harmonic

Harmonic Brings Innovative Playout Capabilities to its XOS Advanced Media Processor

Harmonic Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2023

New minor risk - Profit margin trend

Second quarter 2023 earnings released: EPS: US$0.014 (vs US$0.14 in 2Q 2022)

Harmonic Inc. to Report Q2, 2023 Results on Jul 31, 2023

Insufficient new directors

Harmonic Inc Appoints Walter Jankovic as Chief Financial Officer

Investor sentiment improves as stock rises 19%

Harmonic Inc. Provides Earnings Guidance for the Second Quarter of 2023 and for the Full Year 2023

First quarter 2023 earnings released: EPS: US$0.046 (vs US$0.015 loss in 1Q 2022)

Investor sentiment improves as stock rises 17%

Full year 2022 earnings released: EPS: US$0.27 (vs US$0.13 in FY 2021)

Harmonic Inc. Announces Resignation of Sanjay Kalra as Senior Vice President, Effective March 3, 2023

Insufficient new directors

Full year 2022 earnings released: EPS: US$0.27 (vs US$0.13 in FY 2021)

Harmonic Inc. Provides Unaudited Earnings Guidance for the First Quarter and Full Year 2023

Harmonic Inc. to Report Q4, 2022 Results on Jan 30, 2023

Investor sentiment improved over the past week

Senior VP & GM of Broadband Business recently sold US$745k worth of stock

Insider recently sold US$369k worth of stock

Senior VP & GM of Broadband Business recently sold US$2.1m worth of stock

Third quarter 2022 earnings released: EPS: US$0.083 (vs US$0.015 in 3Q 2021)

Harmonic Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year 2022

Harmonic Inc. to Report Q3, 2022 Results on Oct 31, 2022

Investor sentiment improved over the past week

Harmonic Inc. to Showcase Next-Gen Broadband Innovations at SCTE Cable-Tec Expo 2022

Harmonic Unveils Single Illumination System for Satellite Distribution

Harmonic Adds Google Cloud Support to VOS@360 SaaS Platform

Senior VP & CFO recently sold US$609k worth of stock

Harmonic Inc. Announces Resignation of Nikos Theodosopoulos from the Board of Directors

Insider recently sold US$169k worth of stock

Second quarter 2022 earnings released: EPS: US$0.14 (vs US$0.02 loss in 2Q 2021)

Harmonic Inc. Provides Earnings Guidance for the Third Quarter and Full Year 2022

Harmonic Inc. to Report Q2, 2022 Results on Aug 01, 2022

Harmonic Inc.(NasdaqGS:HLIT) dropped from Russell 2000 Value Index

Harmonic Develops Upgrade Kit That Breathes New Life into Cisco's End-Of-Life GS7000 Node

Insider recently sold US$154k worth of stock

Insufficient new directors

First quarter 2022 earnings released

Harmonic Inc. Provides Earnings Guidance for the Second Quarter of 2022; Provides Earnings Guidance for the Year 2022

Insufficient new directors

Harmonic Inc., Annual General Meeting, Jun 09, 2022

Harmonic Boosts Streaming Video Experiences with HDR10+

Harmonic Inc. to Report Q1, 2022 Results on May 02, 2022

Insufficient new directors

Insufficient new directors

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insufficient new directors

Harmonic Inc. (NasdaqGS:HLIT) announces an Equity Buyback for $100 million worth of its shares.

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Harmonic Inc. Provides Earnings Guidance for the First Quarter of 2022; Provides Earnings Guidance for the Year 2022

Now 21% undervalued

Harmonic Inc. Announces SES's Completion C-Band Transition Months Ahead of Schedule with Harmonic's XOS Edge Software