CORSAIR GAMING INC (CRSR)
Sector: Information Technology
2026 Annual Meeting Analysis
CORSAIR GAMING INC · Meeting: June 16, 2026
Directors FOR
0
Directors AGAINST
2
Say on Pay
AGAINST
Auditor
FOR
Director Elections
Election of Two Class III Directors
Against Analysis
Mr. Weisenburger has served on the board since July 2018, giving him full tenure overlap with the severe underperformance period; Corsair's stock has fallen roughly 60% over three years while the compensation peer group returned nearly 85% on average — a gap of over 144 percentage points, far exceeding our 20-point trigger threshold — and the five-year record is equally poor, so no mitigating relief applies.
Ms. La has served as a director since December 2021, giving her meaningful tenure overlap with the underperformance period; although she only became CEO in July 2025, the same severe stock underperformance (-144.6pp vs. peer median over three years) that triggers a vote against other long-tenured directors applies equally to executive directors under our policy, and the five-year record does not mitigate the trigger.
For Analysis
Both Class III nominees — Randall Weisenburger and Thi La — are subject to our director TSR trigger because Corsair's stock has massively underperformed its own disclosed compensation peer group: the company's shares fell about 60% over three years while the peer group median rose roughly 85%, a gap of more than 144 percentage points against a 20-point trigger threshold for companies with negative absolute returns. The five-year record (Corsair -80% vs. peer median +48%) provides no mitigating relief. Both directors have tenures that overlap substantially with the underperformance period.
Say on Pay
✗ AGAINSTCEO
Thi L. La
Total Comp
$7,986,924
Prior Support
92.7%%
The prior Say on Pay vote received strong support (92.7%) so no prior-vote-response concern arises, and the company's pay mix is appropriately weighted toward variable compensation including performance stock awards tied to revenue and adjusted operating income targets. However, the pay-for-performance alignment check fails: CEO total compensation of nearly $8 million — including substantial equity grants — was awarded while the stock declined roughly 60% over three years compared to a peer group that gained roughly 85% on average, a gap of 144 percentage points that far exceeds our 20-point misalignment threshold for triggering a No vote on above-benchmark incentive pay. The incentive structure, while formally tied to internal financial metrics, has not translated into shareholder value, making above-peer compensation levels difficult to justify.
Auditor Ratification
✓ FORAuditor
KPMG LLP
Tenure
N/A
Audit Fees
$3,429,268
Non-Audit Fees
$414,486
Non-audit fees (tax fees of $389,486 plus other fees of $25,000, totaling $414,486) represent about 12% of audit fees of $3,429,268, well below the 50% threshold that would raise independence concerns; KPMG is a Big 4 firm appropriate for a company of Corsair's size; auditor tenure is not disclosed in the proxy so no tenure trigger fires, and there are no disclosed restatements.
Overall Assessment
The 2026 Corsair Gaming annual meeting features two proposals: the election of two Class III directors and ratification of KPMG as auditor; notably, there is no Say on Pay proposal on the ballot this year because the company conducts that vote only every three years (last held in 2024). Both director nominees warrant an AGAINST vote due to severe and sustained stock underperformance — Corsair's shares have lost roughly 60% over three years while its own peer group returned nearly 85% — and the auditor ratification warrants a FOR vote as KPMG's non-audit fees are well within acceptable limits.
Compensation Peer Group
18 companies disclosed in 2026 proxy filing