Lantronix (NASDAQ: LTRX) raises exec pay, eases severance limits
Rhea-AI Filing Summary
LANTRONIX, INC. (LTRX) amended employment agreements with three senior executives. The Chief Executive Officer, Saleel Awsare, will receive an increased annual base salary of $550,000, effective August 1, 2026. The Chief Revenue Officer, Kurt Hoff, and Chief Product & Strategy Officer, Mathi Gurusamy, will each have their annual base salary increased to $390,000, also effective August 1, 2026.
For both Mr. Hoff and Mr. Gurusamy, the amendments also remove the prior limitation that severance benefits were payable only if a qualifying termination occurred within two years after their respective start dates. The full amendment texts are filed as Exhibits 10.1–10.3.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
CEO annual base salary: $550,000
CRO annual base salary: $390,000
Chief Product & Strategy Officer annual base salary: $390,000
+2 more
5 metrics
CEO annual base salary
$550,000
Saleel Awsare, effective August 1, 2026
CRO annual base salary
$390,000
Kurt Hoff, effective August 1, 2026
Chief Product & Strategy Officer annual base salary
$390,000
Mathi Gurusamy, effective August 1, 2026
Effective date of amended salaries
August 1, 2026
Date on which all three revised base salaries take effect
Amendment exhibit numbers
10.1, 10.2, 10.3
Filed amendments for Awsare, Hoff, and Gurusamy agreements
Key Terms
Employment Agreement, Offer Letter, severance provision, qualifying termination, +1 more
5 terms
Employment Agreement regulatory
"Mr. Awsare’s Employment Agreement, dated October 31, 2023, has been amended"
Offer Letter regulatory
"Mr. Hoff’s Offer Letter, dated February 23, 2024, has been amended"
severance provision financial
"the restriction on the severance provision of the agreement"
qualifying termination financial
"severance only upon a qualifying termination within two years"
Exhibits 10.1-3 regulatory
"the full texts of the amendments, which are attached hereto as Exhibits 10.1-3"
FAQ
What executive compensation changes did LANTRONIX INC (LTRX) disclose?
LANTRONIX INC increased base salaries for its CEO to $550,000 and for its Chief Revenue Officer and Chief Product & Strategy Officer to $390,000 each, all effective August 1, 2026. It also removed certain time limits on severance eligibility for the latter two executives.
What is the new base salary for the CEO of LTRX?
The Chief Executive Officer of LANTRONIX INC, Saleel Awsare, will have an annual base salary of $550,000, effective August 1, 2026, under an amendment to his Employment Agreement dated October 31, 2023.
How did LANTRONIX INC (LTRX) change compensation for its Chief Revenue Officer?
Kurt Hoff, Chief Revenue Officer of LANTRONIX INC, will have his annual base salary increased to $390,000, effective August 1, 2026. The amendment also removes the prior restriction that severance applied only for qualifying terminations within two years of his start date.
What changes were made to severance terms for LTRX executives?
For both Chief Revenue Officer Kurt Hoff and Chief Product & Strategy Officer Mathi Gurusamy, LANTRONIX INC removed the restriction that severance would only be payable upon a qualifying termination within two years after each executive’s start date.
When do the updated executive salaries at LANTRONIX INC (LTRX) take effect?
All the disclosed base salary increases for the CEO, Chief Revenue Officer, and Chief Product & Strategy Officer at LANTRONIX INC become effective on August 1, 2026, as described in the amended agreements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
