AstroNova CEO received 224.1% pay jump in 2015

GREGORY A. WOODS, CEO of AstroNova, saw his pay jump last year by 224.1 percent, largely driven by 1.5 million in stock awards. / PBN FILE PHOTO/ MICHAEL SALERNO
GREGORY A. WOODS, CEO of AstroNova, saw his pay jump last year by 224.1 percent, largely driven by 1.5 million in stock awards. / PBN FILE PHOTO/ MICHAEL SALERNO

WEST WARWICK – AstroNova CEO Gregory A. Woods received $2.2 million in compensation in 2015, a 224.1 percent increase from 2014, according to a federal filing released this week.
Woods’ pay grew largely because of $1.5 million in stock awards, after receiving none last year. He has been CEO since February 2014.
AstroNova is a maker of technology for the aerospace, specialty printing, test and measurement markets.
In addition, Joseph P. O’Connell, senior vice president, treasurer and chief financial officer, made $743,767 last year, a 97.2 percent increase, and Michael Morawetz, vice president, international branches, made $413,421, a 70.8 percent increase.
The annual meeting will be held May 18 at the company offices. At that meeting, shareholders will be able to approve, on an advisory, nonbinding basis, the compensation paid to the company’s executive officers.
AstroNova reported a nearly 3 percent drop in profit for fiscal 2016, to $4.5 million or 61 cents per diluted share, but a 7.1 percent increase in revenue, to $94.7 million.

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