Monitor TSR performance relative to the Russell 2000; watch for increased compensation expense in future earnings. The lack of absolute stock price performance threshold means value could be realized even if shares underperform broadly, as long as they outperform peers.
Price Chart
Executive Summary
Mirion Technologies granted its Founder, Chairman, and CEO Thomas Logan a one-time performance stock option award of 2.5 million target shares, vesting based on relative TSR performance against the Russell 2000 over 3- and 4-year tranches. The award aligns executive incentives with shareholder returns but introduces significant future dilution risk if performance targets are met.
Key Facts
- CEO Thomas Logan received a one-time grant of 2.5 million target performance stock options, with a maximum of 3.75 million shares if performance exceeds 100%.
- Options vest based on Mirion's relative TSR percentile ranking against the Russell 2000 (ex-financials) over two tranches: 50% after 3 years, 50% after 4 years.
- Payout thresholds: 60th percentile (50% of target), 75th percentile (100% of target), 90th percentile (150% of target). No payout below 60th percentile.
- Exercise price is $20.14 per share, with a 7-year term. Shares are subject to a 1-year holding period after vesting.
- The company noted non-cash charges from this award will be reflected in future guidance.
Financial Impact
Up to 3.75 million diluted shares if maximum performance is achieved; non-cash compensation expense to be reflected in future guidance
Risk Factors
- Dilution risk up to 3.75 million shares if maximum performance targets are met
- Compensation expense will impact future financials
- Alignment risk if TSR outperformance occurs during a broad market decline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-024837 |
| Document: mir-20260409.htm | 0001628280-26-024837 |
| Document: 0001628280-26-024837-index-headers.html | 0001628280-26-024837 |
| Document: 0001628280-26-024837-index.html | 0001628280-26-024837 |
| Document: 0001628280-26-024837.txt | 0001628280-26-024837 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 28, 2026 9w ago | 8-K | $14.57 $14.90 | ▲ +2.26% | ▼ −2.76% | $14.76 (+1.30%) |
Apr 28, 2026 22w ago | 8-K | $18.66 $17.10 | ▼ −8.36% | ▼ −14.41% | $14.76 (−20.90%) |
Apr 13, 2026 24w ago | 8-K | $19.33 $18.47 | ▼ −4.45% | ▼ −12.18% | $14.76 (−23.64%) |
US Market Status
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