Napco Founder Soloway's Pay Fell To $1.46 Million As He Left The CEO Job
His 2003 contract still carries a $4,354,173 change-of-control payout, while the new chairman deal sets severance at two times pay plus bonus.
Richard Soloway, the founder of Napco Security Technologies, was paid $1,463,985 in fiscal 2026, down from $1,734,903 a year earlier, according to the company's annual proxy filing, which was filed Wednesday. The drop came as he handed the chief executive job to Kevin Buchel on July 8, 2026 and became Founder and Executive Chairman.
A 252-to-1 pay ratio
Napco, which designs and makes electronic security devices such as digital door locks, alarm equipment and access control systems, reported a pay ratio of 252 to 1 between its CEO and its median employee. That employee earned $5,818 in fiscal 2026.
The company notes that 72% of its employees work at its factory in the Dominican Republic, where pay typically runs substantially below U.S. levels. Soloway's fiscal 2026 pay consisted of $998,452 in salary, a $400,000 bonus and $65,533 in other compensation. His "compensation actually paid" under SEC rules was $1,463,917.
The committee that sets pay did no formal benchmarking against peers in fiscal 2026, the proxy says. It hired a compensation consultant afterward, to help with bonuses, equity awards and the new agreements for Soloway and Buchel.
Two contracts, two payouts
Soloway's 2003 agreement, in force on June 30, 2026, would have paid him $4,354,173 had his employment ended that day after a change of control. Under it, he may resign after a change in control and collect 299% of his average total pay over the prior five calendar years, subject to certain limitations.
The new agreements, dated July 8, 2026, replace that formula. Soloway gets an $800,000 base salary and Buchel $900,000, each with a cash bonus targeted at 50% of base and an equity award targeted at 50% of base. Severance after a termination without cause, following a change in control or on a resignation for good reason is two times base salary plus target bonus, conditioned on a release of claims.
Returns versus the Nasdaq
The proxy's pay-versus-performance table shows a $100 investment in Napco stock on June 30, 2021 was worth $213.16 a year ago-to-date at fiscal 2026, against $180.74 for the Nasdaq Composite. Net income for fiscal 2026 was $43,027 thousand on revenue of $202,316 thousand.
Soloway, 80, has been chairman since October 1981 and was CEO from 1998 to July 2026. Napco reports fiscal first-quarter 2027 results on Monday, November 2, before the market opens, with a call at 11 a.m. ET. Shareholders vote at the annual meeting on December 10, 2026.
Napco reports fiscal first-quarter 2027 results on Monday, November 2.
Sources
- Napco Security Technologies — DEF 14A (2026-10-28) — SEC EDGAR
- Why Napco Security Technologies (NSSC) Is Back In The Spotlight — Yahoo Finance
- Napco (NSSC) Just Reclaimed the 200-Day Moving Average — Yahoo Finance
- NAPCO Security Technologies to Announce Fiscal First Quarter 2027 Results Monday, November 2, 2026 — Yahoo Finance
- NAPCO Security Technologies, In (NSSC) Stock Forecasts — Yahoo Finance
