Ideal Power Inc. (IPWR)

David Somo has been president and chief executive of Ideal Power since November 2025 and sits on the board. He arrived from the private equity firm Strenuus Capital Partners, where he was an operating partner from January 2025 to October 2025, and before that ran Preciseley Microtechnology Corporation as president and chief executive from June 2021 to September 2024 and spent the years from 2009 to June 2021 at onsemi as senior vice president for corporate strategy, marketing and systems engineering. The proxy statement credits him with over 30 years in the semiconductor industry and names Celerity, Ubicom, MEMC Electronic Materials and Advanced Micro Devices among his earlier employers. 12

The handover was quick. On October 31, 2025 R. Daniel Brdar gave notice of his retirement from all positions with the company, effective November 2, 2025, and the board appointed Somo the next day, November 3, 2025. Brdar agreed to provide transition services for twelve months from the date of his retirement. On the insider record this site holds, Brdar first filed as an Ideal Power insider in 2014 and last filed in 2025, and Somo's first filing carries the date he was appointed. 345

Timothy W. Burns has been the chief financial officer and treasurer since October 2013 and the secretary since November 2013, the longest run on the executive team, and the insider record shows his first filing in 2013. He came from Rainmaker Systems, where he was controller and then chief financial officer from April 2011, and before that spent the years from 2001 until November 2010 at Dean Foods Company in finance and accounting roles. In a company this small one person wears several hats: the annual report says the chief financial officer runs the cybersecurity program with a third-party service provider and is the designated chief information officer under the company's information resources policy. 6758

The board has five members, and every one of them except Somo is an independent director under Nasdaq's rules by the board's own determination: Drue Freeman and Gregory Knight, both on the board since April 2022, Ted Lesster since April 2018, and Michael C. Turmelle, a director since December 2017 and chairman since December 2021. Freeman spent most of his career at NXP Semiconductors and Knight has 25 years in industrial manufacturing across photovoltaics, silicon carbide, electric vehicles and power electronics. The company itself is tiny: as of February 28, 2026 it had 17 full-time employees, none of them covered by a collective bargaining agreement. 9101112131415