Aspen Aerogels, Inc. Announces 2024 Annual Meeting of Stockholders
Ticker: ASPN · Form: DEF 14A · Filed: Apr 10, 2024 · CIK: 1145986
| Field | Detail |
|---|---|
| Company | Aspen Aerogels Inc (ASPN) |
| Form Type | DEF 14A |
| Filed Date | Apr 10, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $110 million, $238.7 million, $110.1 m, $128.6 m, $84.2 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: Proxy Statement, Annual Meeting, Director Election, Executive Compensation, Auditor Ratification
TL;DR
<b>Aspen Aerogels, Inc. invites stockholders to its 2024 Annual Meeting on May 30, 2024, conducted virtually, to vote on director elections, auditor ratification, and executive compensation.</b>
AI Summary
ASPEN AEROGELS INC (ASPN) filed a Proxy Statement (DEF 14A) with the SEC on April 10, 2024. Annual meeting to be held on May 30, 2024, at 9:30 a.m. ET via live audio webcast. Stockholders can attend, vote, and submit questions at www.virtualshareholdermeeting.com/ASPN2024. Two directors will be elected to the Board of Directors. KPMG LLP will be ratified as the independent registered public accounting firm for fiscal year ending December 31, 2024. Advisory vote to approve the compensation of named executive officers.
Why It Matters
For investors and stakeholders tracking ASPEN AEROGELS INC, this filing contains several important signals. The virtual format allows for broader participation and cost savings compared to in-person meetings. Key decisions regarding board composition, financial oversight, and executive compensation will be made by stockholders.
Risk Assessment
Risk Level: low — ASPEN AEROGELS INC shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) with no new material financial or operational information, indicating a low-risk event.
Analyst Insight
Stockholders should review the proxy materials to make informed voting decisions on director nominees, auditor ratification, and executive compensation.
Key Numbers
- 9:30 a.m. Eastern Time — Meeting Time (Time of the 2024 annual meeting of stockholders.)
- May 30, 2024 — Meeting Date (Date of the 2024 annual meeting of stockholders.)
- December 31, 2024 — Fiscal Year End (Fiscal year for which KPMG LLP is proposed to be appointed as auditor.)
Key Players & Entities
- Aspen Aerogels, Inc. (company) — Registrant and filer of the proxy statement.
- KPMG LLP (company) — Proposed independent registered public accounting firm.
- May 30, 2024 (date) — Date of the 2024 annual meeting of stockholders.
- 2024 (date) — Year of the annual meeting and fiscal year for auditor appointment.
FAQ
When did ASPEN AEROGELS INC file this DEF 14A?
ASPEN AEROGELS INC filed this Proxy Statement (DEF 14A) with the SEC on April 10, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by ASPEN AEROGELS INC (ASPN).
Where can I read the original DEF 14A filing from ASPEN AEROGELS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ASPEN AEROGELS INC.
What are the key takeaways from ASPEN AEROGELS INC's DEF 14A?
ASPEN AEROGELS INC filed this DEF 14A on April 10, 2024. Key takeaways: Annual meeting to be held on May 30, 2024, at 9:30 a.m. ET via live audio webcast.. Stockholders can attend, vote, and submit questions at www.virtualshareholdermeeting.com/ASPN2024.. Two directors will be elected to the Board of Directors..
Is ASPEN AEROGELS INC a risky investment based on this filing?
Based on this DEF 14A, ASPEN AEROGELS INC presents a relatively low-risk profile. The filing is a routine proxy statement (DEF 14A) with no new material financial or operational information, indicating a low-risk event.
What should investors do after reading ASPEN AEROGELS INC's DEF 14A?
Stockholders should review the proxy materials to make informed voting decisions on director nominees, auditor ratification, and executive compensation. The overall sentiment from this filing is neutral.
How does ASPEN AEROGELS INC compare to its industry peers?
Aspen Aerogels, Inc. operates in the advanced materials sector, focusing on aerogel-based technologies for insulation. This filing is a standard proxy statement for its annual shareholder meeting.
Are there regulatory concerns for ASPEN AEROGELS INC?
The filing is made under the Securities Exchange Act of 1934, specifically Schedule 14A, which governs proxy solicitations.
Risk Factors
- Compliance with SEC Regulations [low — regulatory]: The company must comply with all SEC rules and regulations regarding proxy solicitations and annual meetings.
- Virtual Meeting Format [low — operational]: Reliance on a virtual meeting platform may present technical challenges or limit direct interaction for some stockholders.
Industry Context
Aspen Aerogels, Inc. operates in the advanced materials sector, focusing on aerogel-based technologies for insulation. This filing is a standard proxy statement for its annual shareholder meeting.
Regulatory Implications
The filing is made under the Securities Exchange Act of 1934, specifically Schedule 14A, which governs proxy solicitations.
What Investors Should Do
- Review the nominees for the Board of Directors and their qualifications.
- Evaluate the proposal to ratify KPMG LLP as the independent auditor for FY2024.
- Consider the advisory vote on the compensation of named executive officers.
Key Dates
- 2024-05-30: 2024 Annual Meeting of Stockholders — Key date for voting on board nominees, auditor, and executive compensation.
- 2024-04-10: Filing Date — Date the Definitive Proxy Statement (DEF 14A) was filed with the SEC.
Year-Over-Year Comparison
This is a DEF 14A filing, which is a routine proxy statement. No prior filing details are available in this extract for comparison.
Filing Stats: 4,765 words · 19 min read · ~16 pages · Grade level 12 · Accepted 2024-04-10 07:30:30
Key Financial Figures
- $110 million — annual revenues, reaching an impressive $110 million for the year, nearly doubling the segme
- $238.7 million — solidated revenue 32% year-over-year to $238.7 million. Generated record PyroThin thermal ba
- $110.1 m — ord PyroThin thermal barrier revenue of $110.1 million, up 98% year-over-year. Deliver
- $128.6 m — Delivered Energy Industrial revenues of $128.6 million, despite being capacity constrain
- $84.2 million — company profitability in Q4 2023, where $84.2 million in quarterly revenue enabled gross marg
- $1.4 million — margins of 35% and operating income of $1.4 million. Secured PyroThin award with Audi, a
- $75 million — d ramp of our EV customers. Completed $75 million registered direct offering of common st
- $12.375 — ered direct offering of common stock at $12.375 per share in December 2023. Ended the
- $139.7 million — d the year with cash and equivalents of $139.7 million and believe that we are fully funded to
Filing Documents
- tm2410273d2_def14a.htm (DEF 14A) — 984KB
- tm2410273d1_def14a-01.jpg (GRAPHIC) — 36KB
- tm2410273d1_def14aimg001.jpg (GRAPHIC) — 116KB
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- tm2410273d1_def14asp01img005.jpg (GRAPHIC) — 106KB
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- tm2410273d1_def14asp2img001.jpg (GRAPHIC) — 73KB
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- tm2410273d1_def14asp2img004.jpg (GRAPHIC) — 122KB
- 0001104659-24-045565.txt ( ) — 4050KB
- aspn-20231231.xsd (EX-101.SCH) — 8KB
- aspn-20231231_def.xml (EX-101.DEF) — 8KB
- aspn-20231231_lab.xml (EX-101.LAB) — 26KB
- aspn-20231231_pre.xml (EX-101.PRE) — 7KB
- tm2410273d2_def14a_htm.xml (XML) — 84KB
Security Ownership of Certain Beneficial Owners and Management
Security Ownership of Certain Beneficial Owners and Management 10 Delinquent Section 16(a) Reports 12 Management and Corporate Governance 13 Compensation Discussion and Analysis 28 Compensation Committee Report 39 Risks Related to Compensation Practices and Policies 40 Executive and Director Compensation 41 Pay Versus Performance 58 Equity Compensation Plan Information 65 Report of Audit Committee 66 Certain Relationships and Related Person Transactions 67 Proposal No. 1—Election of Directors 68 Proposal No. 2—Independent Registered Public Accounting Firm 69 Proposal No. 3—Advisory Vote on Approval of Executive Compensation as Disclosed in this Proxy Statement 71 Code of Business Conduct and Ethics 73 Other Matters 74 Stockholder Proposals and Nominations for Director 75 Aspen Aerogels, Inc. 30 Forbes Road, Building B Northborough, Massachusetts 01532 PROXY STATEMENT FOR THE ASPEN AEROGELS, INC. 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 30, 2024 This proxy statement, along with the accompanying notice of 2024 annual meeting of stockholders, contains information about the 2024 annual meeting of stockholders of Aspen Aerogels, Inc., including any adjournments or postponements of the annual meeting. We are holding the annual meeting at 9:30 a.m. Eastern Time on Thursday, May 30, 2024. This year's annual meeting will be conducted solely via live audio webcast on the Internet. You will be able to attend our annual meeting, vote and submit your questions during the annual meeting by visiting www.virtualshareholdermeeting.com/ASPN2024. You will not be able to attend the annual meeting in person. In this proxy statement, we refer to Aspen Aerogels, Inc. as "Aspen Aerogels," "the Company," "we," "our" and "us." This proxy statement relates to the solicitation of proxies by our Board of Directors for use at the annual meeting. On or about April 10, 2024, we intend to begin sending to