Jeff Kurtz
About Jeff Kurtz
Jeff Kurtz (age 56) has served as an independent director of Atlantic International Corp. since June 25, 2024. He is President of The Kamson Corporation (since 1991), overseeing over 100 real estate rehabilitation projects and managing/owning 14,000+ apartments along with office buildings and shopping centers; he holds a degree from the University of Miami and is an active alumnus, including membership on the 1987 National Championship Football Team . Kurtz was elected to the Board upon completion of the Lyneer Merger on June 18, 2024, and is positioned as a financially minded operator with significant real-estate execution experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Kamson Corporation | President | Since 1991 | Oversees extensive rehabilitation projects across 100+ sites; engaged in multifamily, hi-rise, mixed-use builds; manages/owns 14,000+ apartments plus offices/shopping centers |
External Roles
| Organization | Role | Tenure/Notes |
|---|---|---|
| Hope & Heroes Children’s Cancer Fund (Golf Event) | Board member; chairs annual outing | Chair for past 20 years |
| University of Miami | Alumni | Member of the 1987 National Championship Football Team; active alumni engagement |
Board Governance
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Committee assignments:
- Compensation Committee: Chair (independent under Nasdaq Rule 5605(a)(2), eligible under 5605(d)(2); non‑employee director under Rule 16b‑3) .
- Nominating & Corporate Governance Committee: Member (independent under Nasdaq Rule 5605(a)(2)) .
- Audit Committee: Member (independent under Exchange Act Rule 10A‑3 and Nasdaq Rule 4200(a)(15); committee chaired by David Pfeffer, an audit committee financial expert) .
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Attendance:
- Board: 4 meetings in 2024; no director attended fewer than 80% of meetings of the board and committees on which they served .
- Audit Committee: 3 meetings in 2024; 100% attendance by all members .
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Board leadership and structure:
- Five directors; Interim Chairman is CEO Jeffrey Jagid (appointed March 30, 2025) .
- Committee charters available on company website (Compensation, Audit, Nominating & Corporate Governance) .
2025 Shareholder Vote Support (AGM November 7, 2025)
| Proposal | For | Withheld/Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Election of Jeff Kurtz | 25,913,202 | 361,226 | — | 236,626 |
| Say on Pay (NEOs) | 26,198,755 | 75,663 | 10 | 236,626 |
| Frequency of Say on Pay | Three Years: 25,231,139 ; One Year: 1,042,048 ; Two Years: 1,022 | — | 219 | 236,626 |
Fixed Compensation
| Component | Amount | Frequency/Timing | Notes |
|---|---|---|---|
| Cash retainer (non‑employee directors) | $5,000 per month | Payable quarterly | Reviewed/approved by Board on recommendation of Compensation Committee |
| Fees earned in cash (2024, Kurtz) | $0 | — | As disclosed in director compensation table |
| Committee chair/member fees | Not disclosed | — | No separate committee fees specified in proxy |
| Expense reimbursement | Pre‑approved, reimbursed within 30 days with documentation | As incurred | Transportation and lodging for board meetings |
Performance Compensation
| Award Type | Grant Date | Shares/Units | Fair Value ($) | Vesting | Notes |
|---|---|---|---|---|---|
| Initial stock option award (program terms) | Not specified | 161,290 options | Not disclosed | Vests in arrears, equal monthly tranches over one year | Program applies to all non‑employee directors; additional grants possible at Committee discretion |
| RSUs (director fee grant upon Lyneer Merger completion) | June 18, 2024 | 161,290 RSUs | Not disclosed | Vests equally monthly over one year | Granted to Kurtz, Solimine, Pfeffer as director fees |
| Proxy‑reported equity award value (categorized as “Option Awards”) | 2024 | — | $450,005 | — | Value disclosed for Kurtz; table categorizes under option awards |
- Plan and limits:
- 2025 Omnibus Equity Incentive Plan adopted April 3, 2025 (subject to stockholder approval); administrator may grant awards to directors, employees, officers, consultants .
- Non‑employee director annual compensation cap: $1,000,000 (cash + other compensation + grant‑date fair value of awards, ASC 718), with exceptions only in extraordinary circumstances and the recipient excluded from decisions on their own compensation .
- Anti‑timing policy: grants occur independent of release of material nonpublic information .
- No repricing of options/SARs without stockholder approval; other guardrails described in plan .
Other Directorships & Interlocks
| Company | Exchange/Ticker | Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|---|
| None disclosed in proxy for Kurtz | — | — | — | Biographical and director sections do not list other public company directorships for Kurtz |
Expertise & Qualifications
- Real estate operator with decades of experience overseeing multifamily, hi‑rise, and mixed‑use development and rehabilitation projects; management of large apartment portfolio (14,000+ units) .
- Entrepreneurial and financial/business expertise cited by the Board as qualifications for service .
- University of Miami graduate; active alumni engagement, including as a member of the 1987 National Championship Football Team .
Equity Ownership
| Item | Detail |
|---|---|
| Shares beneficially owned | 161,290 (includes RSUs granted upon merger completion) |
| Percent of class | Less than 1% |
| Composition and vesting | 161,290 RSUs vest equally monthly over one year |
| Shares pledged | None disclosed for Kurtz |
| Hedging/pledging policy | Company prohibits hedging and pledging by directors, officers, employees and related persons |
| Shares outstanding (reference) | 58,375,488 as of May 19, 2025 |
Governance Assessment
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Strengths
- Independent director holding key governance roles: Chair of Compensation Committee; member of Audit and Nominating & Corporate Governance Committees; Audit Committee includes an SEC‑defined financial expert (chair Pfeffer) .
- Engagement: Audit Committee attendance 100% in 2024; no director below 80% board/committee attendance .
- Ownership alignment mechanisms: annual equity grants to non‑employee directors; anti‑hedging/anti‑pledging policy in place .
- Shareholder support: strong reelection vote for Kurtz at 2025 AGM; Say‑on‑Pay passed with high support; shareholders chose three‑year frequency for Say‑on‑Pay .
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Risks and considerations
- RED FLAG: Quorum reduced to one‑third of voting power via bylaw amendment effective prior to the November 7, 2025 AGM, potentially lowering participation thresholds for passing proposals and elections .
- Ownership concentration: SPP Credit Advisors beneficially owns 37.7% following a pledge default involving the former principal stockholder (IDC Technologies), implying potential influence over outcomes; not a Kurtz‑specific issue but impacts governance dynamics .
- Compensation structure clarity: Proxy shows “Option Awards” valued at $450,005 for Kurtz while footnotes indicate RSUs of 161,290 were granted and vest monthly; investors should monitor award type consistency and disclosure granularity on strike/vesting details .
- Related‑party transactions: None disclosed involving Kurtz/The Kamson Corporation; continued monitoring advisable given extensive external business activities .
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Compensation Committee oversight
- Committee responsibilities include setting executive compensation standards and administering incentive plans; charters available online; no disclosure of use of an independent compensation consultant or benchmarking peer group in the proxy .
Overall, Kurtz presents as an independent, engaged director with strong operational credentials and high shareholder support; key governance watch‑items include the reduced quorum, equity award disclosure consistency, and concentrated ownership dynamics that could influence board effectiveness and investor confidence .