Jennie M. Raubacher
About Jennie M. Raubacher
Independent director since April 3, 2024; age 49; Strategy Committee Chair and Audit Committee member. She brings 25+ years of investment banking experience focused on semiconductors/technology, led Wells Fargo’s global semiconductor and electronics investment banking practice (2011–Mar 2024), and previously worked at Lehman Brothers and Barclays (1998–2011); she holds an A.B. magna cum laude from Harvard and an MBA from Stanford . The Board determined she is independent under Nasdaq rules and an “audit committee financial expert” under SEC regulations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wells Fargo & Company | Managing Director; led global semiconductor & electronics investment banking | 2011–Mar 2024 | Advised C-suites/boards on strategic/financing transactions |
| Lehman Brothers / Barclays Capital | Investment banker focused on TMT sectors | 1998–2011 | Strategic and financing advisory |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Global Semiconductor Alliance (GSA) | Women’s Leadership Council member | Current | Industry network, leadership exposure |
Board Governance
- Committees: Strategy Committee Chair; Audit Committee member; Audit Committee comprised of Susan D. Lynch (Chair), Joseph R. Martin, and Raubacher; all are independent, and Raubacher is an audit committee financial expert .
- Independence: Board classified Raubacher as independent under Nasdaq rules; overall six of nine directors independent .
- Tenure: Joined the Board April 3, 2024 as a Class III director (term through 2026 AGM) and appointed to Audit Committee .
- Attendance: In FY2025, the Board held 16 meetings; each director then serving attended at least 75% of Board and committee meetings; the 2024 virtual annual meeting was attended by Raubacher .
- Board leadership context: Joseph R. Martin is Lead Independent Director (since Sept 12, 2024); Audit oversees cybersecurity risk; Strategy reviews growth initiatives and KPIs .
Fixed Compensation
FY2025 director compensation (cash and equity) and program structure:
| Component | Amount ($) | Notes |
|---|---|---|
| Fees earned (cash) | 77,471 | Prorated annual retainers and committee fees |
| Stock awards (RSUs) | 213,548 | Prorated initial award + annual award; RSUs vest at next AGM |
| Other comp (charity match) | 5,000 | Director gift matching program |
| Total | 296,019 | Sum of above |
Director compensation program (annualized cash retainers):
| Role | Annual Cash Retainer ($) |
|---|---|
| Board member (baseline) | 60,000 |
| Chairman of the Board | 75,000 |
| Lead Independent Director | 75,000 |
| Audit Chair / Member | 25,000 / 10,000 |
| Compensation Chair / Member | 20,000 / 8,500 |
| NGC Chair / Member | 10,000 / 5,000 |
| Strategy Chair / Member | 10,000 / 8,500 |
- Annual RSU grants for eligible directors are valued at ~$185,000 and vest in full at the next annual meeting; mid-year appointees receive prorated awards .
Performance Compensation
| Performance-linked components | Details |
|---|---|
| None disclosed for directors | Director equity is time-based RSUs vesting at next annual meeting; no PSUs or formulaic performance metrics for directors . |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | None |
| Past five years public boards | None |
| Notable external affiliations | GSA Women’s Leadership Council |
| Interlocks/conflicts | None disclosed; Audit Committee oversees related party transactions . |
Expertise & Qualifications
- Financial expertise: Designated “audit committee financial expert” .
- Industry: Extensive semiconductor/technology banking experience; advised global C-suites on strategy/financing .
- Education: A.B. magna cum laude (Harvard); MBA (Stanford) .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Beneficial ownership (shares) | 9,044 | As of June 11, 2025; less than 1% of outstanding shares |
| Unvested RSUs outstanding | 6,873 | Vests at the 2025 AGM date |
| Shares outstanding (for context) | 184,925,395 | Record date shares outstanding |
| Ownership guidelines | 3x annual cash retainer (directors) | Directors/execs have 4 years to comply; all Covered Directors in compliance or expected to be |
| Hedging/pledging | Prohibited for covered persons | Insider Trading Policy bans hedging/pledging |
Governance Assessment
- Board effectiveness: Raubacher strengthens capital allocation and transaction expertise as Strategy Chair, aligning with Allegro’s M&A and growth roadmap; Audit Committee financial expert designation enhances financial oversight .
- Independence and engagement: Independent director with 75%+ meeting attendance and AGM participation; committee leadership indicates active engagement .
- Alignment and incentives: Director pay is equity-heavy via time-based RSUs vesting at the next AGM, plus robust ownership guidelines and anti-hedging/pledging policy, supporting shareholder alignment .
- Conflicts monitoring: No related-party ties disclosed for Raubacher; Audit Committee (including Raubacher) reviews related-party transactions with Sanken/PSL and enforces recusal in any conflicted votes, mitigating governance risk .
- Shareholder signals: 2024 Say-on-Pay approval ~99% indicates broad support for compensation design; Meridian engaged for independent compensation advice and biennial director compensation benchmarking .