Aspen Aerogels CEO made $3.5M in 2015

ASPEN AEROGELS Inc.’s CEO and President Donald R. Young received a 20.5 percent pay hike in 2015, while two other top executives saw their total compensation drop over the year.
ASPEN AEROGELS Inc.’s CEO and President Donald R. Young received a 20.5 percent pay hike in 2015, while two other top executives saw their total compensation drop over the year.

NORTHBOROUGH, Mass. – Aspen Aerogels Inc. CEO and President Donald R. Young received a 20.5 percent pay hike in 2015, to $3.47 million from $2.88 million.
The bulk of Young’s compensation was from stock and option awards, which totaled approximately $2.6 million. His base pay also grew to $476,112 from $460,245.
The other two top executives, John F. Fairbanks, vice president, chief financial officer and treasurer, and Corby C. Whitaker, senior vice president, sales and marketing, saw their total compensation drop in 2015, due to declines in stock and option awards.

Fairbanks’ total compensation fell 50 percent, to $638,529 from $1.3 million, and Whitaker’s dropped by 35.7 percent, to $663,885 from $1 million.

The energy technology company, which has a plant in East Providence, released details about executive compensation in a proxy statement in advance of its annual meeting on June 15.
At that meeting, shareholders will be asked to elect Craig A. Huff, Mark L. Noetzel and William P. Noglows as directors to serve three-year terms expiring in 2019, and to ratify the appointment of KPMG LLP as the company’s public accounting firm for the fiscal year ending Dec. 31.

In 2015, Aspen Aerogels reported a 20 percent increase in revenue, to $122.5 million, and narrowed its loss for the year to $6.4 million, or 28 cents per diluted share.

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