Kenneth White
About Kenneth White
Kenneth White is Chief Legal Officer & Head of People at a.k.a. Brands (since June 2023), having joined in June 2022 as VP, Head of Legal and Human Resources. He has 18+ years of legal and operational experience across digital advertising, consumer brands, and asset management. He holds a J.D. from Michigan State University College of Law and a B.A. in Communications from California State University, Fullerton; age 45 as of April 15, 2025 . During his tenure, company performance improved in 2024: net sales rose 5% to $574.7M, Adjusted EBITDA grew 69% to $23.3M, gross margin expanded 200 bps to 57%, and net loss narrowed to $26.0M from $98.9M .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| a.k.a. Brands | VP, Head of Legal and Human Resources | Jun 2022–Jun 2023 | Led legal and HR before elevation to CLO & Head of People . |
| Viant (NASDAQ: DSP) | Vice President, Legal | Feb 2022–Jun 2022 | Advised on commercial transactions, IP portfolio, and labor/employment strategies . |
| Ethika | VP, Business & Legal Affairs | Mar 2018–Feb 2022 | Drove complex commercial transactions during rapid growth phase . |
| Allianz Asset Management of America (parent of PIMCO) | VP, Associate General Counsel | Jan 2015–Mar 2018 | Covered corporate governance, finance, investments, insurance, marketing/advertising . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 357,754 | 371,038 |
| Year-end Base Salary Rate ($) | 360,500 (as of 12/31/23) | 374,920 (as of 12/31/24) |
| Target Bonus % of Salary | 40% | 40% (2024 program) |
| Actual Annual Bonus Paid ($) | 0 (no 2023 payout) | 112,476 (75% of target) |
| Retention Cash Bonus ($) | — | 100,000 (paid 35% on/after Apr 1, 2024; 65% on/after Oct 31, 2024; contingent on continued employment through Oct 31, 2024) |
| Stock Awards – RSUs (Grant-date fair value, $) | 122,250 | 289,531 |
| All Other Compensation ($) | 383 | 600 |
| Total Reported Compensation ($) | 480,387 | 873,648 |
Notes:
- On March 30, 2024, his annual base salary rate increased from $360,500 to $374,920 .
- 2023 NEO bonuses were not paid; retention awards were used to mitigate retention risk .
Performance Compensation
Annual Incentive (Cash)
| Performance Year | Metrics | Target | Actual Payout | Payout vs Target | Commentary |
|---|---|---|---|---|---|
| 2024 | Company sales and EBITDA (weighted across both), plus individual performance | 40% of base salary | $112,476 | 75% | Compensation Committee set goals weighted between sales and EBITDA; 2023 goals were missed and not paid, but 2024 paid at 75% of target . |
Equity Awards (Time-based RSUs)
| Grant Date | Units | Grant-date Fair Value ($) | Vesting Schedule | Status/Outstanding |
|---|---|---|---|---|
| Nov 7, 2023 | 15,000 | 122,250 | 5,000 vest on Aug 1, 2024; remaining 10,000 vest in equal quarterly installments beginning Nov 1, 2024 until fully vested Aug 1, 2026 . | 25,553 RSUs unvested as of Dec 31, 2024 (market value $478,352 at $18.72) . |
Additional notes:
- RSUs granted under the 2021 Omnibus Plan vest in eight equal installments at the end of each three‑month calendar period (unless otherwise specified), conditioned on continued service .
- Kenneth White holds no options or IPO-era incentive units; outstanding “options” in proxy tables reflect legacy partnership incentive units held by other NEOs, not White .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 15,223 shares (less than 1% of outstanding as of Apr 15, 2025) . |
| Unvested RSUs | 25,553 RSUs unvested at 12/31/24 (market value $478,352 at $18.72) . |
| Options (exercisable/unexercisable) | None disclosed for White . |
| Hedging/Pledging | Company policy prohibits hedging, holding in margin accounts, or pledging securities as collateral . |
| Section 16(a) compliance | No delinquent Section 16(a) filings listed for Kenneth White in company disclosures; late filings noted for certain other insiders . |
Implications:
- Continuous quarterly RSU vesting through Aug 2026 creates periodic supply overhang but no evidence of pledging or hedging that would amplify selling pressure .
Employment Terms
- Agreement: Employment agreement dated April 12, 2024 (effective June 6, 2022); initial four-year term; auto-renews annually unless notice provided (60-day notice by the Company for non-renewal) .
- Current pay framework (as of 2025 agreements): Base salary currently set at $374,920 with target bonus at 50% of salary for White; eligibility for employee benefits; restrictive covenants include perpetual confidentiality, IP assignment, non-compete during employment, non-disparagement during employment, customer/supplier/business relation non-solicit during employment, and employee/contractor non-solicit during employment and for one year post-termination .
- Severance (without Cause): Four months of base salary paid over four months, plus accrued amounts; contingent on release and restrictive covenant compliance .
- Clawback: Executive Incentive Compensation Recoupment Policy effective Oct 2, 2023, requiring recovery of erroneously awarded incentive compensation upon accounting restatements per NYSE Rule 303A.14 and Exchange Act 10D .
Compensation Structure Analysis
- Shift in risk mix: 2024 introduced higher equity value ($289,531) vs 2023 ($122,250), increasing equity-at-risk; annual bonus paid at 75% of target evidences pay sensitivity to improved 2024 operating results .
- Target bonus trajectory: Target moved from 40% (2024 program) to 50% under 2025 employment terms, increasing performance leverage for future years .
- Retention signal: $100,000 retention bonus (two tranches in 2024, contingent on employment through Oct 31, 2024) reflects prior-year (2023) underperformance and the need to retain key executives when cash bonuses were not paid .
- No options/PSUs: Unlike the CEO, White’s package is RSU-focused (lower risk vs options/PSUs), which supports retention but provides less upside leverage tied to multi-year stock price hurdles .
Performance & Track Record
- Company-level performance during White’s executive tenure (2024): net sales +5% YoY to $574.7M; Adjusted EBITDA +69% to $23.3M; gross margin +200 bps to 57%; net loss improved to $26.0M from $98.9M .
- Governance and controls: Company disclosed material weaknesses in ICFR and ongoing remediation efforts; adoption of NYSE/Exchange Act-compliant clawback policy in 2023 .
- No controversies involving White disclosed in proxies or 10-K; Delinquent Section 16(a) disclosures for 2024 did not list White .
Risk Indicators & Red Flags
- 2023 bonus zero, replaced by retention awards (2024 payout) to NEOs signals prior performance shortfall and retention risk; pay actions appear transparent and time-contingent .
- Controlled company status and Summit’s rights may influence committee independence, though hedging/pledging prohibitions and clawback policy are shareholder-friendly .
- Limited severance (4 months) suggests modest change-in-control or separation economics for White relative to market, reducing potential golden parachute concerns but offering less retention assurance in adverse scenarios .
Investment Implications
- Alignment and retention: White’s RSU-heavy package with quarterly vesting through 2026 promotes retention and aligns to shareholder value creation; no hedging/pledging allowed and clawback policy in place reinforce alignment .
- Pay-for-performance: 2024 bonus funded at 75% alongside improved sales, margins, and EBITDA supports linkage between results and cash incentives; target bonus rising to 50% increases future pay sensitivity to outcomes .
- Selling pressure watchpoints: Ongoing quarterly RSU vesting creates periodic potential supply; however, absence of options and prohibitions on pledging/margin accounts mitigate forced selling risk; no noted Section 16 delinquencies for White .
- Governance quality: Adoption of the clawback and explicit anti-hedging/pledging policies are positives; controlled company exemptions remain a structural governance consideration for investors .