Watch for the 2026 annual meeting vote results — while director elections are uncontested, the significant pay increases amid sustained losses may draw shareholder dissent. Monitor the 10-K for Q4 2026 to see if the revenue/EBITDA trajectory supports the new bonus plan targets (50% revenue, 35% EBITDA/gross margin, 15% employee retention).
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Executive Summary
AmpliTech Group's 2026 definitive proxy statement schedules its annual meeting for December 1, 2026, to elect five directors and ratify the appointment of Sadler, Gibb & Associates as auditor. The filing reveals significant executive compensation increases despite a net loss of $7.0 million in 2025, with CEO Fawad Maqbool receiving total compensation of $858,077 (up 92% from 2024) and new three-year employment agreements granting each named executive officer 200,000 stock options and 50,000 immediately-vesting RSUs. The company has 30.1 million shares outstanding, with insiders owning 12.29% and two 5%+ holders.
Key Facts
- Annual meeting scheduled for December 1, 2026; record date October 9, 2026
- 30,127,415 shares outstanding as of record date
- CEO Fawad Maqbool 2025 total compensation: $858,077 (salary $498,077 + bonus $360,000), up from $446,154 in 2024
- CFO Louisa Sanfratello 2025 total compensation: $511,442 (salary $273,942 + bonus $237,500), up from $245,384 in 2024
- COO Jorge Flores 2025 total compensation: $510,442 (salary $272,942 + bonus $237,500), up from $245,384 in 2024
- New 3-year employment agreements effective Oct 1, 2025: CEO base salary $600,000, CFO/COO base salary $350,000 each
- Each NEO granted 200,000 incentive stock options and 50,000 immediately-vesting RSUs under new agreements
- Net loss of $7,007,155 in 2025 (improved from $11,242,404 loss in 2024)
- Total shareholder return: $100 invested Dec 2022 was worth $141.04 at end of 2025 (down from $242.45 at end of 2024)
- Insiders beneficially own 12.29% of shares; CEO Maqbool owns 10.02%
- Two 5%+ holders: Bard Associates (5.76%) and Susquehanna Securities group (5.48%)
- Audit fees for 2025: $282,370; total auditor fees: $290,917
- No shareholder proposals on the ballot; no contested director elections
Financial Impact
CEO pay increased 92% YoY to $858,077 while company reported a $7.0M net loss; new employment agreements lock in $600K CEO salary and grant 600K total options + 150K immediately-vesting RSUs to three executives
Risk Factors
- CEO pay rose 92% while company remains unprofitable with $7.0M net loss in 2025
- Immediate vesting of 150,000 RSUs to executives creates dilution without performance conditions
- New bonus plan ties 50% of payout to revenue — may incentivize top-line growth over profitability
- TSR declined from $242.45 to $141.04 over the past year, indicating significant shareholder value destruction
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001493152-26-046670 |
| Document: 0001493152-26-046670-index-headers.html | 0001493152-26-046670 |
| Document: 0001493152-26-046670-index.html | 0001493152-26-046670 |
| Document: 0001493152-26-046670.txt | 0001493152-26-046670 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | DEFA14A | $2.67 $2.65 | ▼ −0.75% | ▲ +0.40% | $2.70 (+1.12%) |
Oct 13, 2026 14d ago | DEF 14A | $2.67 $2.65 | ▲ +0.75% | ▼ −0.40% | $2.70 (−1.12%) |
Oct 7, 2026 19d ago | SC 13G | $2.82 $2.57 | ▼ −9.04% | ▼ −8.77% | $2.70 (−4.26%) |
Oct 6, 2026 20d ago | SC 13G | $2.96 $2.61 | ▼ −11.82% | ▼ −10.84% | $2.70 (−8.78%) |
Aug 27, 2026 8w ago | Press Release | $3.74 $3.42 | ▼ −8.56% | ▼ −8.82% | $2.70 (−27.81%) |
Aug 25, 2026 9w ago | Press Release | $3.62 $3.24 | ▼ −10.50% | ▼ −9.96% | $2.70 (−25.41%) |
Aug 17, 2026 10w ago | 8-K | $3.70 $3.45 | ▼ −6.76% | ▼ −5.57% | $2.70 (−27.03%) |
Aug 12, 2026 10w ago | 8-K | $5.99 $3.44 | ▲ +42.57% | ▲ +40.61% | $2.70 (+54.92%) |
Jul 22, 2026 13w ago | 8-K | $6.34 $4.91 | ▼ −22.56% | ▼ −23.03% | $2.70 (−57.41%) |
Jul 8, 2026 15w ago | 8-K | $6.58 $7.03 | ▲ +6.84% | ▲ +5.98% | $2.70 (−58.97%) |
US Market Status
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