--- title: "Fabrinet's CEO drew $13.6 million, 1,317 times its median worker, as the stock sits 57% off its high" description: "Fabrinet's new proxy shows a sixth straight record year, a $13.6 million CEO pay package at 1,317 times median employee pay, and just $5.2 million of buybacks. Shareholders reading it are holding a stock 57% below its high, ahead of November 2 earnings and a December 10 say-on-pay vote." publisher: "The Inference" section: "Chips" published: 2026-10-23T18:09:29.506Z modified: 2026-10-23T18:09:29.506Z canonical: https://theinference.org/article/fabrinet-s-ceo-drew-13-6-million-1-317-times-its-median-worker-as-the-stock-sits-57-off-its-high language: en keywords: "Fabrinet, Executive Pay, Insider Selling, Optics, Stock Moves" --- # Fabrinet's CEO drew $13.6 million, 1,317 times its median worker, as the stock sits 57% off its high > Fabrinet's new proxy shows a sixth straight record year, a $13.6 million CEO pay package at 1,317 times median employee pay, and just $5.2 million of buybacks. Shareholders reading it are holding a stock 57% below its high, ahead of November 2 earnings and a December 10 say-on-pay vote. [Fabrinet](https://theinference.org/markets/companies/fabrinet)'s [annual proxy, filed on October 20](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001408710&type=DEF+14A&dateb=&owner=include&count=10), asks shareholders to pay CEO [Seamus Grady](https://theinference.org/markets/people/seamus-grady) $13.6 million, up 12% from last year, at 1,317 times the $10,331 its median employee, a production worker in Thailand, takes home [1][2]. The same filing describes fiscal 2026, ended in June, as the sixth straight record year [1][4]. What it does not offer shareholders is a CEO putting capital behind the record: the company repurchased only $5.2 million of stock all year [1] while insiders sold $17.0 million over twelve months without a single buy [4]. The business and the stock have come apart. Fabrinet, which manufactures the optical components at the heart of AI data-center buildouts, grew revenue 36% to $4.64 billion and net income 42% to $473 million last year [1]. Yet the shares have [fallen for nine straight sessions, shedding about $5.1 billion of market value](https://www.trefis.com/stock/fn/articles/619603/a-9-day-losing-streak-has-fabrinet-stock-down-29/2026-10-21) [6], and closed Thursday at $324.03, roughly 57% below the 52-week high of $748.89 [5]. *Chart: **Six straight record years, with fiscal 2026 the fastest growth of the six** Column chart of Fabrinet's annual revenue and net income from fiscal 2021 through fiscal 2026, rising every year to $4.64 billion of revenue and $473 million of net income* *Fiscal years ended late June. Revenue and net income in US dollars, in billions; fiscal 2026 revenue grew 35.7% and net income 42.3%. Source: Fabrinet annual figures from its SEC filings, retrieved 23 October 2026 [9]. [9]* ## Insiders and holders are on opposite sides of the same drawdown Grady's pay rose even as executives sold $17 million with zero buying over the past year [4], and analyst targets have been cut toward the falling price: [Susquehanna moved to $600 from $850 this week while keeping a Positive rating](https://news.alphastreet.com/why-fabrinet-is-dropping-9-0-susquehanna-maintains-positive/amp/) [5]. The institutional register split too: in the June quarter [T. Rowe Price](https://theinference.org/markets/companies/t-rowe-price) sold nearly half a stake worth about $1.07 billion while JPMorgan added a similar sum [3]. A pay ratio of 1,317 to one lands oddly on holders absorbing that drawdown, and the proxy's lone valuation support, the $5.2 million buyback [1], is trivial beside it. ## Two dates turn the proxy into a test On November 2, Fabrinet reports first-quarter results, where [consensus expects $4.19 of earnings per share on $1.40 billion of revenue](https://www.marketbeat.com/earnings/reports/2026-11-2-fabrinet-stock/); the company has beaten the earnings consensus in seven of the last eight quarters [8], so the record-year math faces its next test. *Chart: **Revenue has risen eight straight quarters; consensus sees $1.40 billion next** Column chart of Fabrinet's quarterly revenue from the September 2024 quarter through the June 2026 quarter, rising every quarter to $1.32 billion, with the September 2026 quarter shown as a $1.40 billion consensus estimate* *Fabrinet's fiscal quarters end in September, December, March and June; the September 2026 quarter, fiscal Q1 2027, is reported on November 2. The final bar is the $1.40 billion consensus revenue estimate. Sources: Fabrinet quarterly figures from its SEC filings, retrieved 23 October 2026 [10]; MarketBeat Q1 2027 earnings date and estimates [8]. [10][8]* Then on December 10, the annual meeting votes on Grady's board seat and the advisory say-on-pay [1][7], where the 1,317-to-1 ratio becomes a shareholder question rather than a footnote. The company notes shareholders have backed its pay since 2016 [1]; the circumstances this year are different, and the vote will say so. ## Takeaway A sixth straight record year, a $13.6 million CEO package at 1,317 times median pay, $17 million of insider sales and just $5.2 million of buybacks leave Fabrinet's proxy to be judged at November 2 earnings and the December 10 say-on-pay vote. ## Sources 1. [Bullished, Fabrinet CEO Seamus Grady Got $13.6 Million In Fiscal 2026, 1317 Times Median Employee Pay, 21 October 2026](https://www.bullished.co/fabrinet-ceo-seamus-grady-got-13-6-million-in-fiscal-2026-1317-times-median-employee-pay-beeae02c/) 2. [SEC EDGAR, Fabrinet DEF 14A filing index, filed 20 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001408710&type=DEF+14A&dateb=&owner=include&count=10) 3. [Quiver Quantitative, Fabrinet ($FN) CEO 2026 Pay Revealed, 20 October 2026](https://www.quiverquant.com/news/Fabrinet+%28%24FN%29+CEO+2026+Pay+Revealed) 4. [GuruFocus, Fabrinet (FN) Stock Down 5.6%: Now Undervalued? GF Score 97/100, 16 October 2026](https://www.gurufocus.com/news/9128458/fabrinet-fn-stock-down-56-now-undervalued-gf-score-97100) 5. [AlphaStreet, Why Fabrinet Is Dropping 9.0%: Susquehanna Maintains Positive, 22 October 2026](https://news.alphastreet.com/why-fabrinet-is-dropping-9-0-susquehanna-maintains-positive/amp/) 6. [Trefis, A 9-Day Losing Streak Has Fabrinet Stock Down 29%, 21 October 2026](https://www.trefis.com/stock/fn/articles/619603/a-9-day-losing-streak-has-fabrinet-stock-down-29/2026-10-21) 7. [Quiver Quantitative, Fabrinet Shares Sink 10.7% as Sentiment Stays Weak Ahead of Earnings, 22 October 2026](https://www.quiverquant.com/news/Fabrinet+Shares+Sink+10.7%25+as+Sentiment+Stays+Weak+Ahead+of+Earnings) 8. [MarketBeat, Fabrinet Q1 2027 Earnings Date and Estimates, as of 10 October 2026](https://www.marketbeat.com/earnings/reports/2026-11-2-fabrinet-stock/) 9. [Fabrinet, annual figures from its SEC filings, retrieved 23 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001408710) 10. [Fabrinet, quarterly figures from its SEC filings, retrieved 23 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001408710) --- Fabrinet's CEO drew $13.6 million, 1,317 times its median worker, as the stock sits 57% off its high — The Inference. Canonical: https://theinference.org/article/fabrinet-s-ceo-drew-13-6-million-1-317-times-its-median-worker-as-the-stock-sits-57-off-its-high