WEST WARWICK — AstroNova Inc. President and CEO Gregory A. Woods’ total compensation rose 7.1 percent from fiscal 2017 to fiscal 2018, according to the data visualization technology company’s proxy statement released to shareholders Friday.
Woods received $703,224 total compensation as of Jan. 31 – the end of the company’s fiscal year – which represented an increase of $46,772 from fiscal 2017. His salary rose from $368,930 in 2017 to $387,344 in 2018. While Woods did not receive stock awards or nonequity incentive plan compensation in 2018 and saw a 9.7 percent decrease in all other compensation from year to year, he received $252,742 in option awards, a 76.5 percent jump from the previous year.
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Woods’ 2018 total compensation is still less than the $2.15 million he received in 2016. That year, Woods received $1.5 million in stock awards and $150,626 in nonequity incentive plan compensation.
David S. Smith, the company’s vice president, chief financial officer and treasurer, who was appointed to the position in January, received $495,701 in total compensation in fiscal 2018.
Some of AstroNova’s other executives received increased compensation.
- Michael Morawetz, the company’s vice president – EMEA, received $248,891 in total compensation, a 23.4 percent jump over last year.
- Michael J. Natalizia, the company’s vice president and chief technology officer, received $187,833, a 3.7 percent rise from a year ago.
- John P. Jordan, the company’s former vice president, chief financial officer and treasurer, saw a 20.4 percent increase in compensation to $171,632 last year.
Two executives saw decreases in their total compensation.
- Joseph P. O’Connell, the company’s former interim chief financial officer, received $226,039 in 2018, an 11.7 percent drop from 2017.
- Stephen M. Petrarca, the company’s vice president of operations, saw a 3.4 percent decline in compensation to $188,139 last year.
Net income continued downward for AstroNova. The company reported $3.3 million in net income for the fiscal year ended Jan. 31, which is a 22.3 percent drop from 2017. That followed a 6.6 percent decline in net income from fiscal 2016 to fiscal 2017.
Shareholders will vote on AstroNova’s compensation on Monday, June 4, at 10 a.m. at the company’s West Warwick office, 600 East Greenwich Ave.
James Bessette is a PBN staff writer. Email him at Research@PBN.com.
