Lumentum management check

LITE · Information Technology · Communications Equipment · CEO Hurlston

Filings as of

58
Management score, ranked 349th of 487Strongest: owner returns. Weakest: dilution. See the best and worst run in Information Technology →

3 good · 2 to watch · 2 flagged, across the seven questions below.

  • Good

    Have owners done well?

    Beat its chosen peers

    $100 invested at the start of fiscal 2022 grew to $979, against $199 for the peer group the company picked itself.

  • Good

    Does pay follow performance?

    Pay rose and fell with returns

    Over 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 1.00 with shareholder return. 1 means pay moved in step; below 0, the opposite way.

  • Flag

    What does the CEO cost owners?

    Paid in a loss-making year

    $15.4m of reported pay in fiscal 2026, a year the company lost $6.9bn.

  • Watch

    Do they own the stock?

    CEO stake ≈ 12 years of pay

    The CEO holds 187,499 shares, directly or through trusts (unvested awards not counted): about 12 years of pay. 9 insiders sold $129.4m in the last six months and none bought. 108 of 113 sales ran on pre-arranged 10b5-1 plans.

  • Flag

    Are owners being diluted?

    Share count growing

    Diluted shares changed +4.5% a year over the last three fiscal years. Stock-based pay was 5.6% of revenue in the latest year.

  • Watch

    Is leadership stable?

    2 CEOs in the pay table

    CEOs in the pay table: Lowe, Hurlston. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.

  • Good

    Are the books clean?

    No red flags on file

    No restatements, auditor changes or late filings since 2021.

Against the S&P 500

Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Information Technology.

CheckScoreAt or aboveSector median
Owner returns100100%33
Pay for performance100100%87
CEO cost016%35
Skin in the game6872%47
Dilution07%56
Stable leadership4019%85
Clean books100100%100

Closest peers

Others in Communications Equipment, by management score. Lumentum is 44th of 73 in its sector.

  1. 139CIENCiena73
  2. 249ANETArista Networks64
  3. 260CSCOCisco64
  4. 304MSIMotorola Solutions61
  5. 349LITELumentum58
  6. 364FFIVF5, Inc.57

Pay versus performance

From the proxy statement filed October 6, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.

CEO pay by fiscal yearAs reported Actually paid
$0$237.1m$474.3m20222023202420252026
What $100 becameCompany Peer group
$10020222023202420252026$979
Fiscal yearCEOCEO payActually paidOther executives (avg)$100 becamePeersNet income
2026Hurlston$15.4m$474.3m$7.6m$979$199−$6.9bn
2025Hurlston, Lowe$46.4m$46.7m$4.6m$114$133$25.9m
2024Lowe$12.1m$9.3m$3.9m$61$124−$546.5m
2023Lowe$13.9m$6.2m$4.5m$68$93−$131.6m
2022Lowe$10.8m$10.9m$3.8m$93$72$198.9m

The board says pay is tied most to Revenue. Its other key measures: Gross Margin, Operating Income, Earnings per Share.

Insiders and the CEO's stake

Michael E. Hurlston (President and CEO) held 187,499 shares directly after their latest Form 4 on Aug 27, 2026, roughly $179.7m at that filing's price.

9 insiders sold $129.4m in the last six months and none bought. 108 of 113 sales ran on pre-arranged 10b5-1 plans.

  • SoldVincent RetortSEE REMARKS · 10b5-1 plan$41.0mAug 25, 2026
  • SoldWajid AliEVP & CHIEF FINANCIAL OFFICER · 10b5-1 plan$28.1mOct 1, 2026
  • SoldYuen WupenPRESIDENT, GLOBAL BUS. UNITS · 10b5-1 plan$16.4mSep 29, 2026
  • SoldJae KimSVP, GENERAL COUNSEL · 10b5-1 plan$16.2mAug 25, 2026

Leadership and governance on file

Latest shareholder vote results: Nov 24, 2025, including the say-on-pay vote.

Where the money went

Over 2021–2025: $955.5m returned to owners in buybacks and dividends, and $691.8m of pay in stock.

Fiscal year20212022202320242025
Revenue$1.7bn$1.7bn$1.8bn$1.6bn$3.0bn
Net income$397.3m$198.9m−$131.6m$25.9m−$6.9bn
Stock-based pay$92.9m$103.1m$148.4m$177.2m$170.2m
Buybacks$236.0m$543.9m$175.6m$0—
Dividends—————
Diluted shares78m74m68m70m75m

Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.