Bradford Oberwager
About Bradford Oberwager
Bradford Oberwager (age 55) has served as an independent director of Asure Software since November 2018. He is Executive Chairman of Linden Lab and Tilia.io and is a serial founder/operator across CPG and technology; he earned a BS in Finance from Georgetown University and an MBA from Wharton. His board tenure includes chairing Asure’s Compensation Committee since August 2020, bringing financial, strategic, and entrepreneurial expertise to the Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bare Snacks | Owner and CEO | Dec 2010 – Sep 2014 | Scaled brand; company later acquired by PepsiCo in 2018 |
| Jyve | Founder and operator | Not disclosed; acquired in 2021 | Built labor/merchandising tech; sale to Advantage Solutions in 2021 |
| Sundia Corporation | Founder & Chairman | Founded Dec 2004 | CPG growth leadership; founder-led governance |
| Multiple companies (five) | Co-founder and director | Not disclosed | Founded and successfully sold three businesses |
External Roles
| Organization | Role | Status/Notes |
|---|---|---|
| Linden Lab | Executive Chairman | Original Metaverse virtual world |
| Tilia.io | Executive Chairman | Fintech focused on virtual world payments |
| Sundia Corporation | Founder & Chairman | Consumer packaged goods |
Board Governance
- Independence: Board determined Oberwager is independent under Nasdaq rules; all committee members are independent .
- Committee Assignments: Compensation Committee member and Chair since Aug 2020; Compensation Committee met twice in 2024 and members attended all meetings .
- Board Meetings & Attendance: Board met 7 times in 2024; no director attended fewer than 75% of aggregate Board/committee meetings; none of the directors attended the annual meeting last year .
- Lead Independent Director: Daniel Gill serves as LID, with authority over agenda, executive sessions, and information flow; Board oversees risk across committees, including compensation risk (Compensation Committee) .
Fixed Compensation
| Component (2024) | Amount | Detail |
|---|---|---|
| Cash Fees | $50,000 | Base annual retainer $45,000 plus Compensation Committee Chair retainer $5,000 |
| Equity Grants (RSUs) | $63,280 grant-date fair value | 7,000 RSUs granted Jan 1, 2024; vested Jan 1, 2025 |
| Option Awards (2024 grants) | $0 | No new options granted to directors in 2024 |
| Outstanding Awards at 12/31/2024 | 7,000 RSUs; 1,932 options (all vested) | RSUs unvested at year-end; options fully vested |
- Non-employee director policy: $45,000 annual retainer; expected annual equity grants; no meeting fees; Chair retainers: Compensation ($5,000), Audit ($5,000), Nominating ($2,500); Lead Independent Director ($5,000) .
- Anti-hedging/pledging: Company prohibits hedging, short sales, margin trading, and pledging by directors and specified employees .
Performance Compensation
As Compensation Committee Chair, Oberwager oversaw 2024 executive incentive structures and outcomes:
| Annual Cash Bonus Metrics (FY2024) | Threshold | Target | Maximum | Actual FY2024 | Payout vs Target |
|---|---|---|---|---|---|
| Total Revenue | $112,000,000 | $125,000,000 | $138,000,000 | $119,792,000 | 67% of target (CEO), scaled by plan |
| Adjusted EBITDA | $22,000,000 | $26,000,000 | $30,000,000 | $22,534,000 | 67% of target (CEO), scaled by plan |
| PSU Conversion Metrics (FY2024) | Threshold | Target | Maximum | Actual FY2024 | Conversion Outcome |
|---|---|---|---|---|---|
| Recurring Revenue | $111,000,000 | $124,000,000 | $132,000,000 | $114,471,000 | 70% of target shares |
| Non-GAAP Gross Profit | $82,000,000 | $94,000,000 | $106,000,000 | $88,160,000 | 70% of target shares |
- Committee process: Compensation Committee engaged independent consultant Compensia, Inc. to assist in developing performance stock programs (PSUs) and broader compensation benchmarking .
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Linden Lab | Private | Executive Chairman | No ASUR-related transactions disclosed |
| Tilia.io | Private | Executive Chairman | No ASUR-related transactions disclosed |
| Sundia Corporation | Private | Founder & Chairman | No ASUR-related transactions disclosed |
- Related party transactions: Board reports no director/officer transactions exceeding $120,000 in the period; Audit Committee reviews any proposed related-person transactions per charter .
Expertise & Qualifications
- Financial and strategic leadership across tech and CPG; founder/operator with multiple exits .
- Education: BS Finance (Georgetown); MBA, Strategic and Entrepreneurial Management (Wharton) .
- Board contribution: Financial expertise, strategic experience, and leadership skills recognized by Board .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Breakdown |
|---|---|---|---|
| Bradford Oberwager | 40,021 | <1% | 38,089 shares held directly; 1,932 options exercisable within 60 days of Apr 7, 2025 |
| Shares Outstanding (reference) | 27,153,341 | — | As of Apr 7, 2025 |
- Director award status at 12/31/2024: 7,000 RSUs unvested (vested Jan 1, 2025); 1,932 options vested .
- Hedging/pledging: Prohibited per Insider Trading Policy .
Governance Assessment
- Strengths: Independent director and long-tenured Compensation Committee Chair; engaged independent consultant (Compensia) and implemented performance-based PSU frameworks; full committee attendance; clear anti-hedging/pledging and clawback policies at company level .
- Alignment: Director compensation mix favors equity (approx. 56% equity; $63,280 of $113,280 total) supporting long-term alignment; annual equity grant program for directors .
- RED FLAGS:
- Board/annual meeting attendance: While no director fell below 75% of meetings, none attended the prior annual meeting in person .
- Company internal controls: Reported material weakness in ICFR (program change management), though unrelated to Oberwager individually; auditor transition from Marcum to CBIZ post-acquisition noted .
- Conflicts/related party exposure: No related-person transactions >$120,000 involving Oberwager disclosed; no disclosed interlocks with ASUR customers/suppliers from his external roles .
Overall, Oberwager’s governance profile reflects independence, active committee leadership, and pay structures tied to performance metrics he oversees, with limited direct conflict risk disclosed; attention should remain on company-level ICFR remediation and maintaining director engagement at annual meetings .