Bel Fuse adopts 2023 Incentive Compensation Program; CEO base salary raised to $600,000

BEL FUSE INC /NJ

CEO Daniel Bernstein's 2023 base salary increased 50% to $600,000; CFO Tuweiq to $375,000.
Target total incentive award opportunities: CEO 150% of salary ($900,000), CFO 125% ($468,750).
CEO incentive paid 50% cash / 50% restricted stock; other NEOs 60% / 40%.
Payouts range from 0% to 200% of target based on company/business unit and individual performance.
Base salaries for two business-unit presidents raised to $325,000 and $300,000 from $300,000 and $275,000.

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