David R. Garcia
ALPHA PRO TECHAbout David R. Garcia
Independent director at Alpha Pro Tech (APT) since 2010; age 76. Retired since 2009; previously a licensed stockbroker/producing manager at Cantella & Co. (1983–2009), Labor Relations at CF&I Steel Corp. (1979–1983), and Executive Director of the Wyoming Fair Employment Commission (1973–1979). The Board cites his stockbroker experience and exposure to public-company financials and risk assessment as core credentials . The Board has affirmed his independence under NYSE American standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cantella & Co. | Licensed stockbroker/producing manager | 1983–2009 | Exposure to public-company financials; risk assessment perspective |
| CF&I Steel Corp. | Labor Relations Department | 1979–1983 | Labor relations experience |
| Wyoming Fair Employment Commission (Department of Labor) | Executive Director | 1973–1979 | Regulatory and employment oversight experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | The director biography (which would list current/prior public company directorships over last five years) contains no other public-board roles for Mr. Garcia . |
Board Governance
- Committees and roles:
- Audit Committee: Member; committee met 4 times in 2024; Chair is Benjamin A. Shaw; Shaw designated audit committee financial expert .
- Compensation Committee: Member; committee met 3 times in 2024; Chair is John Ritota .
- Nominating/Governance Committee: Member; committee met 1 time in 2024; Chair is James Buchan .
- Independence: Board determined Garcia is an independent director and that all committee members meet NYSE American/SEC independence tests .
- Attendance: In 2024, each incumbent director attended at least 75% of the aggregate Board and committee meetings during their service period; the Board met 4 times .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Annual cash retainer (non-employee director) | $29,000 | $30,000 |
| Committee chair fees received | $0 (not a chair) | $0 (not a chair) |
| Total fees earned (cash) | $29,000 | $30,000 |
Notes:
- Committee chair fee schedule: Compensation Committee chair $1,000/year; Nominating/Governance chair $1,000/year; Audit Committee chair $11,000/year (Garcia is not a chair) .
Performance Compensation
| Award Type | Grant Date | Quantity | Grant-Date Fair Value ($) | Vesting | Status at 12/31/2024 |
|---|---|---|---|---|---|
| RSUs | Sep 30, 2024 | 4,740 | 27,018 | Cliff vest on 1st anniversary of grant | 4,740 RSUs outstanding |
| Stock Options | Sep 28, 2023 | 9,280 | 39,254 | Vest over first three anniversaries of grant | 6,360 vested; 7,820 unvested |
- No performance metrics (e.g., revenue, EBITDA, TSR) are disclosed for director equity awards; vesting is time-based .
Other Directorships & Interlocks
- Current public company boards: None disclosed for Garcia .
- Compensation Committee interlocks: None; during 2024 no executive officer interlocks with other entities’ compensation committees or boards were reported .
Expertise & Qualifications
- Capital markets and brokerage experience with extensive exposure to publicly held companies’ financials and risk assessment .
- Governance: Affirmed independent; active service across all three standing committees .
Equity Ownership
| Holder | Beneficial Ownership (shares) | Percent of Class | As-of Date |
|---|---|---|---|
| David R. Garcia | 15,773 | <1% | April 14, 2025 |
| Outstanding Awards (Director) | Quantity | As-of Date |
|---|---|---|
| Vested stock options | 6,360 | Dec 31, 2024 |
| Unvested stock options | 7,820 | Dec 31, 2024 |
| RSUs outstanding | 4,740 | Dec 31, 2024 |
Governance Assessment
- Strengths
- Independent status and service on Audit, Compensation, and Nominating/Governance committees support board oversight breadth .
- Attendance met the ≥75% threshold; Board held 4 meetings in 2024, with active committee activity (Audit: 4; Compensation: 3; Nominating/Governance: 1) .
- No related-party transactions requiring disclosure since FY 2023 start; reduces conflict risk .
- Compensation structure shifted from stock options (2023) to RSUs (2024), indicating lower-risk, time-based equity and potentially improved alignment stability for directors .
- Alignment and incentives
- 2024 mix: $30,000 cash plus RSUs with $27,018 fair value; no option grant in 2024 .
- Beneficial ownership is modest (<1%) but includes outstanding RSUs/options, providing some equity-linked exposure .
- Watch items
- Garcia is not designated the audit committee financial expert; reliance on Shaw for financial expert duties may centralize technical oversight .
- The board includes three non-independent insiders (CEO Hoffman, SVP Montgomery, employee-director Millar); while the majority remains independent, investor scrutiny of insider representation is typical .
- RED FLAGS
- None identified for Garcia: no related-party dealings, no pledging/hedging disclosed, and attendance threshold met .