Frequency Electronics, Inc. (FEI) announced the election of Allen Kaplan as the company’s new Chief Financial Officer, effective November 1, 2026. Kaplan will succeed Steven L. Bernstein, who is retiring from the role of CFO, Secretary, and Treasurer. To ensure a smooth transition, the company plans to enter into a one-year consulting agreement with Bernstein to provide transition services beginning on the Effective Date.
Kaplan joins FEI from the Defense Sector of Leidos, Inc., where he most recently served as Vice President of Finance and Business Operations. In this role, he led financial strategy, pricing, and capital investment for a large portfolio of defense programs. Prior to his tenure at Leidos, Kaplan held various roles of increasing responsibility at Lockheed Martin Corporation from 2005 to 2016. He holds an MBA from Villanova University and a B.S. in Supply Chain Management from Pennsylvania State University.
As part of the executive transition announcement, FEI reaffirmed its previously announced three-year financial targets for the fiscal year ending April 30, 2029. The company stated it aims to achieve a minimum revenue of $150 million, a minimum gross margin of 50%, and a minimum operating margin of 30% by that date.
In connection with his appointment, Kaplan’s compensation package includes an annual base salary of $280,000. He is also eligible for an annual target performance bonus of 50% of his base salary, payable upon the finalization of fiscal year-end financial statements, and a one-time supplemental bonus of $37,500 scheduled for May 2027. Additionally, Kaplan will receive a one-time new hire equity award consisting of 5,000 restricted stock units (RSUs) and 5,000 performance stock units (PSUs). The RSUs are expected to vest in four equal installments over four years, while the PSUs will vest in two installments following the finalization of financial statements for fiscal years 2027 and 2028.
