Robert Deutschman
Digital TurbineAbout Robert Deutschman
Independent Chair of the Board at Digital Turbine (APPS) since December 2014; director since May 2013. Age 68. Background in investment banking and restructuring with leadership roles at American Discovery Capital (Senior Advisor since September 2024), B. Riley Financial/Focal Point Partners (Managing Director 2020–September 2024), Cappello Group (Vice Chairman since 2008), Saybrook Capital (Managing Director), and Houlihan Lokey (SVP). Former Vice Chair of Enron Creditors Recovery Corp (2004–2014). Education: B.A., Haverford College (honors); J.D., Columbia Law School (Harlan Fiske Stone Scholar). The Board cited his extensive M&A, strategic advisory, and capital raising expertise as nomination rationale .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Discovery Capital | Senior Advisor | Since Sep 2024 | Strategic advisory |
| B. Riley Financial (acq. of Focal Point Partners) | Managing Director | 2022–Sep 2024 | Investment banking leadership |
| Focal Point Partners LLC | Managing Director | Jan 2020–2022 | M&A advisory; firm acquired by B. Riley |
| Cappello Group, Inc. | Vice Chairman | Since 2008; various roles since 1999 | Merchant banking leadership |
| Saybrook Capital Corp. | Managing Director | Prior to Cappello | Restructuring/investment banking |
| Houlihan Lokey | Senior Vice President | Prior to Saybrook | Corporate finance |
| Enron Creditors Recovery Corp. | Vice Chairman of the Board | 2004–2014 | Post-bankruptcy recovery oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| WBC (formerly Water Buffalo Club) | Executive Committee member | Current | Non-profit focused on helping kids in Los Angeles |
| MPG Office Trust Inc. | Director | Prior | Public REIT; prior service |
| First Bank of Beverly Hills | Director | Prior | Prior board service |
| Brookfield DTLA Fund Office Trust Investor, Inc. | Director | Prior | Prior board service |
| Several private companies | Director | Current | Names not disclosed |
Board Governance
- Role: Independent Chair; separate from CEO .
- Independence: Determined independent under NASDAQ/SEC rules .
- Committee assignments: Audit Committee member; Nominating & Corporate Governance Committee member; designated “audit committee financial expert” and “financially sophisticated” .
- Attendance: In FY2025, Board held 11 meetings; each director attended ≥75% of aggregate Board and committee meetings .
- Executive sessions: Independent directors meet in executive session after each Board and committee meeting .
- Committee activity: Audit (9 meetings), Compensation (13 meetings), Nominating & Corporate Governance (1 meeting) in FY2025 .
- Governance practices: Annual director elections; stockholders can call special meetings and act by written consent; no poison pill; Board evaluations and refresh commitment .
Fixed Compensation (Director)
| Component | FY2025 Amount |
|---|---|
| Fees Earned or Paid in Cash | $82,250 |
| Annual Cash Retainer Plan (Board Chair) | $50,000 (paid quarterly) |
| Audit Committee Member Cash | $5,000 (paid quarterly) |
| Nominating & Corporate Governance Member Cash | $2,250 (paid quarterly) |
Notes:
- Actual cash fees reflect plan retainers plus any applicable committee fees and timing; the director compensation table shows total cash for Deutschman in FY2025 of $82,250 .
- Directors also receive committee chair/member cash components as per policy; Deutschman is not a committee chair .
Performance Compensation (Director Equity)
| Grant Date | Type | Shares Granted | Vesting Schedule | Unvested as of Mar 31, 2025 |
|---|---|---|---|---|
| Jul 31, 2024 | Restricted Common Stock | 36,000 | Vests quarterly over 4 quarters | 9,000 |
| Sep 9, 2024 | Restricted Common Stock | 64,661 | Vests quarterly over 4 quarters | 16,166 |
| Annual Equity Retainer Plan (Board Chair) | Policy | $275,000 (equity retainer) | Restricted stock, vesting quarterly | Policy guidance |
| Committee Equity Retainers (Audit, N&G) | Policy | $5,000 (Audit member), $2,250 (N&G member) | Restricted stock, vesting quarterly | Policy guidance |
Total FY2025 equity grant-date fair value recorded: $282,249 .
Other Directorships & Interlocks
| Company | Industry | Role | Overlap/Interlock Risk |
|---|---|---|---|
| MPG Office Trust Inc. | REIT | Director (prior) | No APPS operational overlap disclosed |
| First Bank of Beverly Hills | Banking | Director (prior) | No APPS operational overlap disclosed |
| Brookfield DTLA Fund Office Trust Investor, Inc. | Real Estate | Director (prior) | No APPS operational overlap disclosed |
| Private companies (various) | Private | Director (current) | Related party transactions: none requiring disclosure since Apr 1, 2024 |
Expertise & Qualifications
- Audit and financial expertise: Designated audit committee financial expert; extensive investment banking/resctructuring track record .
- Strategic/M&A: Broad M&A and capital-raising advisory experience; leadership at multiple financial firms .
- Legal and governance: J.D. from Columbia Law School; long-tenured board leadership as independent Chair .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Robert Deutschman | 909,484 | <1% | Includes restricted stock grants; unvested: 9,000 (7/31/24 grant), 16,166 (9/9/24 grant) as of Mar 31, 2025 |
- Director stock ownership guideline: 3x annual cash retainer; all Board members have met or shown sustained progress toward compliance .
- Insider trading policy: Prohibits hedging, short sales, margin accounts; pledging generally prohibited except limited cases with capacity evidence .
Governance Assessment
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Strengths:
- Independent Board Chair with audit committee financial expert designation; enhances oversight quality .
- High engagement: ≥75% attendance; active committee cadence (Audit 9; Compensation 13) .
- Clear, conservative director pay structure skewed to equity (alignment) with transparent quarterly vesting .
- Robust governance rights for stockholders; annual elections; no poison pill .
- No related-party transactions requiring approval/ratification since Apr 1, 2024; minimizes conflict risk .
-
Watch items / RED FLAGS (optics and potential concerns):
- Prior role as Vice Chair of Enron Creditors Recovery Corp may carry reputational optics, though post-bankruptcy recovery role is governance-focused .
- Ongoing external advisory role at American Discovery Capital requires continued monitoring for potential transactional overlap; however, proxy reports no related-party transactions during the period .
- Director meeting attendance threshold disclosure is at ≥75% rather than 100%; investors may prefer 90–100% disclosure; Board held 11 meetings .
-
Investor confidence signals:
- Say-on-pay support at 87% in prior annual meeting indicates general shareholder alignment on compensation framework .
- Independent directors meet in executive session after each meeting; supports unbiased oversight .
- Use of independent compensation consultant (Pearl Meyer) with no conflicts reported .