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Photronics Executive Compensation (FY25)

PLAB · Brookfield, CT · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): April 9, 2026
220 figures on this page: 209 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
George Macricostas was paid $4,985,316 in total compensation as Chairman of the Board and Chief Executive Officer for fiscal 2025, and the company reported a chief executive pay ratio of 127:1 for fiscal 2025, against median employee compensation of $40,842. Meanwhile, for fiscal 2025, shareholders backed the say-on-pay proposal with 95.6% of votes cast for or against in favor at the meeting held April 8, 2026. Separately, the disclosed peer group includes ACM Research, Inc., Advanced Energy Industries, Inc., Allegro MicroSystems, Inc., Alpha and Omega Semiconductor Limited and Axcelis Technologies, Inc., among others, and the fiscal 2025 disclosure covers 6 named executive officers.
Chief executive, fiscal 2025
◇
George Macricostas
Median of the other named officers
$0
5 officers, excluding the chief executive
Latest say-on-pay support
=
April 8, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive of record: Frank Lee → George Macricostas
Say-on-pay support: 89.8% → 95.6% (5.8 points higher)
CEO pay ratio: 102:1 → 127:1 (24.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Photronics' chief executive and what were they paid?
George Macricostas was paid $4,985,316 in total compensation as Chairman of the Board and Chief Executive Officer for fiscal 2025.
What was Photronics' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 95.6% of votes cast for or against in favor at the meeting held April 8, 2026.
Which companies are in Photronics' peer group?
The disclosed peer group includes ACM Research, Inc., Advanced Energy Industries, Inc., Allegro MicroSystems, Inc., Alpha and Omega Semiconductor Limited and Axcelis Technologies, Inc., among others.
What is Photronics' chief executive pay ratio?
The company reported a chief executive pay ratio of 127:1 for fiscal 2025, against median employee compensation of $40,842.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Peter Kirlin
Former Chief Executive Officer
Departed during or after this year
◇—◇———◇— not reconciled
Frank Lee
Chief Executive Officer
◇◇◇————◇
Richelle Burr
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
◇◇◇———◇— not reconciled
Christopher Progler
Executive Vice President, Chief Technology Officer, Strategic Planning
◇◇◇———◇— not reconciled
John Jordan
Executive Vice President, Chief Financial Officer
◇◇◇———◇— not reconciled
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Frank Lee
Chief Executive Officer
◇—◇—◇——◇
Richelle Burr
Former Executive V.P., Chief Administration Officer, G.C. and Secretary
Departed during or after this year
◇—◇———◇◇
Christopher Progler
Executive Vice President, Chief Technology Officer, Strategic Planning
◇◇◇———◇◇
H.k. Park
Senior Vice President and General Manager of FPD Operations
◇◇◇———◇◇
David Wang
Senior Vice President, COO of Asia IC and US/EU Mainstream Operations
◇◇◇———◇◇
Eric Rivera
Executive Vice President and Chief Financial Officer
◇◇◇———◇◇
John Jordan
Former Executive Vice President and Chief Financial Officer
Departed during or after this year
◇—————◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
George Macricostas
Chairman of the Board and Chief Executive Officer
◇—◇—◇—◇◇
Frank Lee
President PDMC and former Chief Executive Officer
Departed during or after this year
◇—◇—◇—◇— not reconciled
Eric Rivera
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇— not reconciled
David Wang
Senior Vice President, COO of IC Operations
◇—◇—◇—◇— not reconciled
H.k. Park
Senior Vice President and General Manager of FPD Operations
◇—◇—◇—◇— not reconciled
Christopher Progler
Executive Vice President, Chief Technology Officer, Strategic Planning
◇—◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2026
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Christopher J. ProglerRSU◇——◇——◇
David WangRSU◇——◇——◇
Eric RiveraPSU◇—◇—◇—◇
Frank LeeRSU◇——◇——◇
Frank LeeRSU◇——◇——◇
George C. MacricostasPSU◇—◇—◇—◇
Fiscal 2022, 2023, 2024, 2025 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Eric RiveraRSU◇◇——
RSU◇◇——
Option◇—◇1/2/2029
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
HK ParkRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
David WangRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Frank LeeOption◇—◇3/7/2027
RSU————
Option◇—◇1/2/2028
RSU————
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇1/3/2027
RSU◇◇——
RSU◇◇——
Christopher ProglerRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
George MacricostasRSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David A. Garcia
——————◇
Adam Lewis
——————◇
Daniel Liao
——————◇
Mitchell G. Tyson
——————◇
Mary Paladino
——————◇
Constantine S. Macricostas
——————◇
Michelle Almeida, Frank Lee and George C. Macricostas served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Restricted Stock.
Stock ownership guideline: 3x annual cash retainer ($210,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • ACM Research, Inc. ACMR
  • Advanced Energy Industries, Inc. AEIS
  • Allegro MicroSystems, Inc. ALGM
  • Alpha and Omega Semiconductor Limited AOSL
  • Axcelis Technologies, Inc. ACLS
  • Cohu, Inc. COHU
  • Diodes Incorporated DIOD
  • FormFactor, Inc. FORM
  • Ichor Holdings, Ltd. ICHR
  • Kulicke and Soffa Industries, Inc. KLIC
  • Onto Innovation Inc. ONTO
  • OSI Systems, Inc. OSIS
  • Penguin Solutions, Inc. PENG
  • Power Integrations, Inc. POWI
  • Semtech Corporation SMTC
  • Silicon Laboratories Inc. SLAB
  • SkyWater Technology, Inc. SKYT
  • Ultra Clean Holdings, Inc. UCTT
  • Veeco Instruments Inc. VECO

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 8, 2026=◇◇◇
2024April 2, 2025=◇◇◇
2023March 27, 2024=◇◇◇
2022March 16, 2023=◇◇◇
2021March 10, 2022=◇◇◇
2020March 11, 2021=◇◇◇
2019March 16, 2020=◇◇◇
2018March 25, 2019=◇◇◇
2017March 22, 2018=◇◇◇
2016March 7, 2017=◇◇◇
2015March 23, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Photronics disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Photronics sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
220 figures on this page: 209 cited to the filing that reported them, 11 calculated from figures it prints.
209 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001140361-26-014013
  2. 0001539497-26-000750
    DIRECTOR COMPENSATION TABLE & · EQUITY COMPENSATION PLAN INFORMATION & · GRANTS OF PLAN-BASED AWARDS TABLE FOR FISCAL 2025 · OUTSTANDING EQUITY AWARDS AT FISCAL 2025 YEAR-END · and 1 more section
  3. 000153949726000750
    CEO Pay Ratio
  4. 0001140361-25-012062
  5. 0001213900-25-014346
    SUMMARY COMPENSATION TABLE
  6. 0001140361-24-016117
  7. 0001140361-23-012836
  8. 0001539497-23-000326
    SUMMARY COMPENSATION TABLE
  9. 0001140361-22-009310
  10. 0001140361-21-008364
  11. 0001140361-20-006607
  12. 0001140361-19-005921
  13. 0001140361-18-014797
  14. 0001140361-17-011654
  15. 0001206774-16-005174
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Velarion, “Photronics executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PLAB (accessed 2026).
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Tech — Hardware rankings

Chief executive pay — Tech — HardwareCEO pay ratio — Tech — HardwareSay-on-pay support — Tech — Hardware

Peers Photronics discloses

The companies named in PLAB's own disclosed peer group.

ACM Research, Inc.Advanced Energy Industries, Inc.Allegro MicroSystems, Inc.Alpha and Omega Semiconductor LimitedAxcelis Technologies, Inc.Cohu, Inc.Diodes IncorporatedFormFactor, Inc.Ichor Holdings, Ltd.Kulicke and Soffa Industries, Inc.OSI Systems, Inc.Penguin Solutions, Inc.Power Integrations, Inc.Semtech CorporationSilicon Laboratories Inc.SkyWater Technology, Inc.Ultra Clean Holdings, Inc.Veeco Instruments Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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