---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-008232"
form_type: "8-K"
ticker: "BELFA"
cik: "0000729580"
company_name: "BEL FUSE INC /NJ"
filed_at: "2025-03-18T23:59:59+00:00"
generated_at: "2026-05-24T14:49:47.946630+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Bel Fuse board awards $882K in FY2024 bonuses to NEOs despite missing matrix targets; modifies 2025 incentive plan

## Summary
- Bonus payouts: Farouq Tuweiq $328,125, Steve Dawson $131,250, Peter Bittner III $328,125, Kenneth Lai $94,500; paid partly in cash, partly in restricted stock.
- Steve Dawson base salary raised to $315,000 from $250,000, effective retroactively to Jan 1, 2025.
- FY2024 matrix targets (revenue and EBITDA growth) were not met; Committee used discretion to award 70% of target plus individual factor.
- For 2025, incentive measures switch to target net revenue (dollars) and non-GAAP Adjusted EBITDA Margin (%); PSUs with 3-year TSR vesting to be added.
- CEO Daniel Bernstein's FY2024 bonus was set by prior agreement (Feb 8-K).

## SEC filing metadata
- accession: 0001437749-25-008232
- form_type: 8-K
- ticker: BELFA
- cik: 0000729580
- company_name: BEL FUSE INC /NJ
- filed_at: 2025-03-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/729580/000143774925008232/0001437749-25-008232-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/729580/000143774925008232/belfb20250313_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-008232
- JSON: https://secwatch.observer/filing/0001437749-25-008232.json
- Plain text: https://secwatch.observer/filing/0001437749-25-008232.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.