Governance

Bill Bates joined the Company in 2014. He has 35 years of experience related to optical component and system manufacturing. He is currently the General Manager of the Applied Optics Center in Dallas, Texas where he oversees the Thin-film Coating and Optical Assembly Operations where he has served since November of 2014. He has held various positions throughout his thirty-five years of experience within Litton Industries, Northrop Grumman Corporation, and L-3 Communications. He previously served as Vice President and General Manager within the Warrior Systems Division of L-3 Communications. Mr. Bates received a Bachelor of Science of Business Administration from DeVry University and an MBA from the University of Texas at Dallas.

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Brian Bushnell joined the company in January 2026 as the Director of Optical Coatings Technology. Brian has over 20 years of experience in the defense optics industry where he has worked as a Sr. Physics Engineer, Thin film Coatings Process Engineer, Engineering Manager for Optical Hardware and Test Development, and most recently as a Sr. Manager of Mechanical Engineering for High Energy Lasers at Raytheon. Brian holds a Bachelor of Science degree in Mechanical Engineering from the University of Texas at Arlington, a Master of Applied Physics from the University of Texas at Dallas, and a Master of Business Administration from Texas A&M University-Commerce.

Chad M. George has served as President of the Company since August 11, 2025, and was appointed CEO effective as of December 20, 2025. Previously, he spent 20 years in senior operations and supply chain roles in the defense sector. Between January 2022 and August 2025, he served as Vice President of Operations and Supply Chain at Leonardo DRS, where he played a key role in streamlining production processes and enhancing strategic sourcing capabilities. He also worked as Factory Manager and Operations Leader at Raytheon from April 2009 through March 2021. He holds a Bachelor of Science Degree in Industrial Engineering from Oklahoma State University and a Master of Business Administration from the University of Texas at Dallas.

Dale E. Lehmann joined the Board in November 2019 as an industry expert with over 30 years of experience in management, strategy, product development, and operations in the electro-optical industry.

Mr. Lehmann was Director of Business Development & Strategy for General Dynamics Global Imaging Technologies Group from 2014 through 2017. Prior to that, he served as Senior Vice President & General Manager of the Infrared Products Group at L-3 Communications/Cincinnati Electronics from 1995 through 2014.

He currently serves on the board of directors for Adimec USA, a provider of application-specific imaging solutions. His extensive industry experience makes him a valuable member of the Board.

Danny R. Schoening serves as Chairman of the Board. He joined Optex Systems, Inc. in January 2008 and became Chief Operating Officer in 2008 following the company’s reorganization. He served as COO beginning in 2009 and was appointed CEO and director in 2013, holding the CEO position until December 20, 2025.

Prior to joining Optex, Mr. Schoening was Vice President of Operations at Finisar Corporation’s AOC Division from 2004 to 2008, where he led a team of up to 200 employees. Before that, he spent 17 years at Honeywell International in various operational leadership roles across multiple industries.

He holds a Bachelor’s degree in Manufacturing Engineering Technology from the University of Nebraska, an MBA from Southern Methodist University, and holds three U.S. patents.

Dayton Judd joined the Board in October 2022 and serves as Audit Committee Chair. He is the founder and Managing Partner of Sudbury Capital Management, LLC (“Sudbury”). He also serves as Chairman and CEO of FitLife Brands, Inc. (NASDAQ: FTLF). He has served as a director of FitLife since June 2017 and CEO since February 2018.

Mr. Judd also currently serves as a director of LifeVantage Corp. (NASDAQ: LFVN). Prior to founding Sudbury, he worked as a Portfolio Manager at Q Investments from 2007 through 2011. Before that, he worked with McKinsey & Company from 1996 through 1998 and again from 2000 through 2007.

He graduated from Brigham Young University with Bachelor’s and Master’s degrees in Accounting, both summa cum laude, and earned an MBA with high distinction from Harvard Business School, where he was a Baker Scholar. Mr. Judd is a Certified Public Accountant and has served on multiple public and private company boards.

Ginger Knight has over 30 years of progressive leadership experience in Human Resources for companies ranging from high-growth startups to Fortune 500 companies and has worked in the defense industry for Optex Systems for over 10 years.  Prior to joining Optex Systems, Ginger held HR leadership roles at American Airlines/SABRE Decision Technologies, Sybase Incorporated, and owned and operated an IT Consulting company for eight years. Giner holds a SHRM SPHR-SCP certification.

Hugh Bond joined the Company in 2007 as a Manufacturing Engineer.  During his tenure, he has contributed to all aspects of the Company, serving as Program Manager, Engineering Manager, and Operations Manager before assuming his role as General Manager of the Optex Systems site in Richardson, Texas on July 21, 2025.  Mr. Bond brings 18 years of dedicated service to the Company, during which he has demonstrated consistent growth and taken on increasing levels of responsibility across key areas of the business.  Mr. Bond received a Bachelor of Science in Mechanical Engineering from the University of Oklahoma.

Karen L. Hawkins was appointed as our CFO on November 19, 2014. Ms. Hawkins had previously served as our Vice President, Finance and Controller, since the date of the reorganization, March 30, 2009, and was the controller of Optex Systems, Inc. (Delaware), effective September 28, 2009. She began her employment with Optex Systems, Inc. (Texas) in April 2007. Ms. Hawkins has over 30 years’ experience in Financial Accounting and Management, primarily focused in the Defense and Transportation Industries. She has a strong background in both Financial & Cost Accounting, with extensive Government Pricing, Financial Analysis, and Internal Auditing experience. Her past history also includes Program Management, Materials Management and Business Development. She brings over 25 years’ direct experience in Government Contracting with a strong knowledge of Cost Accounting Standards Board and Federal Acquisition Regulation. Her previous employment includes General Dynamics — Ordinance and Tactical Division, Garland (formerly known as Intercontinental Manufacturing) for over 13 years from November, 1994 through March, 2007. During her tenure there she served in the roles of Controller (Accounting & IT), Program Manager over a $250M three-year Army Indefinite Delivery/Indefinite Quantity (Indefinite Delivery/Indefinite Quantity) type contract, as well as Materials Manager with oversight of Purchasing, Production Control & Warehousing functions. Prior to her employment at General Dynamics, Ms. Hawkins served in various finance and accounting positions at Luminator, a Mark IV Industries Co, and Johnson Controls, Battery Division - Garland. Karen received her Bachelor of Science Degree in Business Administration in Accounting from Stephen F. Austin State University in Texas in 1986 and became a Certified Public Accountant in 1992.

R. Rimmy Malhotra joined the Board in November 2019 and serves as Nominating Committee Chair. Since 2013, he has been the Managing Member and Portfolio Manager of Nicoya Fund LP, a private investment partnership.

Previously, he served as portfolio manager of the Gratio Values Fund from 2008 to 2013 and worked as an Investment Analyst at a New York-based hedge fund.

Mr. Malhotra currently serves on the boards of HireQuest, Inc. (NASDAQ: HQI), Genasys Inc. (NASDAQ: GNSS), and FRMO Corp. (OTC Pink: FRMO), and has previously served on several other public company boards. He holds an MBA in Finance from The Wharton School, a Master’s degree in International Relations from the University of Pennsylvania, and undergraduate degrees in Computer Science and Economics from Johns Hopkins University.