Ronald Rubin
About Ronald Rubin
Ronald Rubin (age 59) has served as an independent director of AST SpaceMobile since April 2021. He is Co‑Founder and Managing Director of Tower Alliance, LLC (founded 2014) and previously served as CFO of Global Tower Partners from 2010–2013. Rubin holds a B.S. in Accounting from American University, an M.S. in Taxation from Florida International University, and is a Certified Public Accountant—credentials underpinning his designation as an audit committee financial expert.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tower Alliance, LLC | Co‑Founder & Managing Director | 2014–present | Outsourced services provider to wireless infrastructure owners; industry experience in towers and telecom supports ASTS audit oversight |
| Global Tower Partners | Chief Financial Officer | 2010–2013 | Senior finance leadership in tower infrastructure sector |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Not disclosed | — | — | No other public company directorships disclosed in proxy filings |
Board Governance
- Independence: Board affirmed Rubin is “independent” under Nasdaq rules.
- Committees:
- Audit Committee member; committee met 6 times in 2024; Rubin is designated an “audit committee financial expert.”
- Not a member of Compensation, Nominating & Corporate Governance, Network Planning & Spectrum, or Redemption Election committees.
- Attendance and engagement: Board met 9 times in 2024; each director attended at least 75% of Board and committee meetings for which they served; independent directors held executive sessions at every regular meeting.
- Governance context: ASTS is a “controlled company” (Abel Avellan controls ~75.8% voting power as of April 2025), which means the Board may rely on Nasdaq governance exemptions (e.g., majority independence is not required). The Board nonetheless maintains independent Compensation and Nominating committees.
Fixed Compensation
| Element | Amount | Notes |
|---|---|---|
| Annual Director Retainer (cash) | $50,000 | Paid quarterly in arrears; pro‑rated for partial quarters |
| Audit Committee Member Retainer (cash) | $10,000 | Non‑chair member; chairs receive $20,000 |
| Total Cash Fees (FY2024) | $60,000 | Rubin’s actual cash compensation in FY2024 |
| Director Equity – Annual Grant | $150,000 | Granted as RSUs/restricted stock at each Annual Meeting for independent directors |
| FY2024 Director Compensation (Rubin) | Fees Earned (Cash) | Stock Awards (Grant Date Fair Value) | Total |
|---|---|---|---|
| Amount | $60,000 | $150,000 | $210,000 |
Performance Compensation
| Award Type | Grant Date | Units | Grant Date Fair Value | Vesting | Change‑in‑Control Treatment |
|---|---|---|---|---|---|
| RSUs (annual director grant) | Sep 10, 2024 | 5,744 | $150,000 | Vests in full on earlier of 1‑year anniversary or next Annual Meeting, subject to continued service | Vests in full upon a change in control (as defined in the 2024 Plan) |
No performance metrics are applied to director equity grants; they are time‑based (no revenue/EBITDA/TSR conditions).
Other Directorships & Interlocks
| Entity | Relationship to ASTS | Rubin’s Role | Interlock/Conflict Note |
|---|---|---|---|
| American Tower Corporation | Commercial arrangements contemplated; has a Board designee (Edward Knapp) at ASTS | None disclosed | No related‑party transactions with Rubin disclosed; audit committee reviews related‑party transactions |
| Vodafone | Long‑term commercial agreement; Vodaphone designee (Luke Ibbetson) on Board | None disclosed | No Rubin‑related transactions disclosed |
| Rakuten | Commercial agreement and equity transactions; Rakuten designee (Hiroshi Mikitani) on Board | None disclosed | No Rubin‑related transactions disclosed |
Expertise & Qualifications
- CPA with advanced taxation training (M.S. Taxation), seasoned tower/telecom finance executive; designated audit committee financial expert.
- Industry experience directly relevant to ASTS’s carrier and infrastructure partnerships.
Equity Ownership
| Metric | As of Apr 17, 2025 | As of Oct 6, 2025 |
|---|---|---|
| Class A Shares Beneficially Owned | 65,628 | 65,628 |
| Unvested/Deferred Equity | 5,744 RSUs (issuable within 60 days) | 5,611 RSAs |
| Total Reported Beneficial Ownership | 71,372 (incl. issuable RSUs) | 71,239 |
| Ownership % (Class A) | <1% (*) | <1% (*) |
| Outstanding Director Awards (Rubin) | RSUs | Options |
|---|---|---|
| As of Dec 31, 2024 | 5,744 | — |
Section 16(a) compliance: No delinquent insider filing reported for Rubin; late filings noted for two other individuals (not Rubin).
Governance Assessment
-
Strengths
- Independent director and audit committee financial expert; serves on Audit Committee (key for financial rigor).
- Consistent engagement (Board and committees met frequently; all directors ≥75% attendance; independent executive sessions each meeting).
- Director compensation balanced: modest cash retainer plus equity with straightforward, time‑based vesting; change‑in‑control vesting disclosed.
-
Concerns/Watch‑Items
- Controlled company status (Chair/CEO holds ~75.8% voting power) reduces minority shareholder protections; Board does not have a majority of independent directors.
- Limited ownership alignment: Rubin’s beneficial ownership is <1%, with annual equity grants primarily time‑based.
- Industry proximity: Rubin’s tower infrastructure background (Tower Alliance) is positive for expertise but could present perceived conflicts in future tower‑related dealings; no related‑party transactions involving Rubin are disclosed, and Audit Committee screens such transactions.
-
RED FLAGS (currently not observed, but monitor)
- Related‑party transactions tied to Tower Alliance or personal affiliations—none disclosed; continue monitoring Audit Committee approvals.
- Hedging/pledging: Company policy restricts hedging/pledging without pre‑approval; no pledging by Rubin disclosed.
- Attendance shortfalls: none indicated (≥75% for all directors).