Wyman Howard
About Wyman Howard
Wyman Howard, 56, is an independent Class I director of Bridger Aerospace Group Holdings, Inc. (BAER) since January 2023. He retired from the U.S. Navy in September 2022 as Rear Admiral (Upper Half) after 32 years in SEAL Teams and Joint Special Operations. He holds a B.S. from the U.S. Naval Academy, an MBA from the TRIUM consortium (LSE/HEC/NYU Stern), an M.S. in National Security and Resource Strategy from the Eisenhower School, and a Professional Certificate in AI & Business Strategy from MIT CSAIL. Howard also serves on the boards of NextNav (NASDAQ: NN) and Invitation Homes (NYSE: INVH), and is deemed independent under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Navy (Naval Special Warfare Command) | Commander | 2020–2022 | Led strategic, operational, and tactical outcomes; recognized for contributions with multiple unit citations |
| National Geospatial-Intelligence Agency (NGA) | Director of Operations (second Director) | 2016 | Joint, interagency, intelligence leadership; COO-equivalent role |
| SEAL Teams & Joint Special Operations | Multiple commands incl. JTFs | 1990–2022 | Five Presidential Unit Citations; Navy Unit Commendation; four Joint Meritorious Unit Awards |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| NextNav (NASDAQ: NN) | Director | Current | Next-generation positioning, navigation and timing (PNT) |
| Invitation Homes (NYSE: INVH) | Director | Current | Single-family home leasing; also on BAER board is INVH director Jeffrey Kelter |
Board Governance
- Committee assignments: Audit Committee member; Nominating & Corporate Governance Committee Chair. Audit Committee met 4 times in 2024; Nominating & Corporate Governance met 6 times; Compensation Committee met 4 times; full Board met 6 times in 2024. Each director attended more than 75% of Board and committee meetings in 2024.
- Independence: Board determined Howard is “independent” under Nasdaq rules; no family relationships requiring disclosure.
- Board leadership: Jeffrey Kelter serves as Executive Chairman (non-employee).
- Stockholders Agreement provisions: Founder Stockholders (≥10% ownership) may nominate the chairs of Compensation and Nominating committees; BTO Stockholders have preemptive rights; potential influence on committee leadership.
- Board observers: MAB/Avenue entities may appoint non-voting observers with access to materials; may request to attend executive sessions subject to Board approval.
Fixed Compensation
| Component | 2024 Amount (USD) | Notes |
|---|---|---|
| Annual Director Cash Retainer | $100,000 | Non-employee, non-affiliated directors |
| Fees Earned/Paid in Cash (Howard) | $100,000 | 2024 Director Compensation Table |
| Meeting/Committee Chair Fees | Not disclosed | No separate meeting fees/chair fees disclosed |
Performance Compensation
| Equity Component | Grant Date | Shares/Units | Grant-Date Value (USD) | Accounting Value Reported (USD) | Vesting/Status |
|---|---|---|---|---|---|
| Annual equity grant (Howard) | Sep 2024 | 38,887 shares | $100,000 | $95,273 (2024 stock awards) | Unvested RSUs held: 105,401 shares as of 12/31/2024 |
| Performance metrics tied to director equity | — | — | — | — | None disclosed (director equity appears time-based; no performance conditions disclosed) |
Other Directorships & Interlocks
| Company | Overlap/Interlock | Implication |
|---|---|---|
| Invitation Homes (NYSE: INVH) | Howard and BAER Executive Chairman Jeffrey Kelter both directors | Interlock may increase information flow; monitor for potential conflicts in real estate-related matters if any BAER dealings overlap |
Expertise & Qualifications
- Strategic leadership at scale (COO/CEO-equivalent roles in national security and special operations) with geo-strategic risk sensitivity.
- Technical exposure: AI & Business Strategy certificate (MIT CSAIL), national security/resource strategy focus including commercial/civil/military space sectors.
- Governance experience: Current public company directorships in technology (NextNav) and real estate (Invitation Homes).
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Unvested RSUs (12/31/2024) | Hedging/Pledging |
|---|---|---|---|---|
| Wyman Howard | 65,237 | <1% (*) | 105,401 | Company prohibits hedging and pledging of Company securities |
Governance Assessment
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Strengths:
- Independent director with high-stakes operational leadership; adds risk oversight and discipline to Audit and Nominating committees.
- Strong engagement: Board/committee meeting cadence and >75% attendance across directors in 2024; Howard serves as Nominating Chair and Audit member.
- Alignment: Mix of cash/equity compensation (2024: $100,000 cash; $95,273 equity) and unvested RSUs (105,401) supports skin-in-the-game.
- Governance policies: Insider trading policy; prohibition on hedging and pledging; clawback policy adopted (executive incentive comp focus).
-
Watch items / potential RED FLAGS:
- Committee chair nomination rights by Founder Stockholders (>10%) could affect independence perceptions of committee leadership (Howard chairs Nominating).
- Board observers (MAB/Avenue) with access to materials and potential presence in executive sessions may dilute confidentiality; assess controls at committee executive sessions.
- Interlock with Invitation Homes (Howard and Kelter) increases network influence; monitor any related-party exposure or overlapping transactions.
- As an Emerging Growth Company, BAER does not conduct say-on-pay votes; reduced shareholder feedback on compensation practices.
-
Related-party exposure (company-level context for Audit oversight):
- PC-12 aircraft leases with a founder-owned entity; ~$1.7M lease expense in 2024; Board approval with founders abstaining.
- Training/charter transactions tied to founder; expenses and revenues disclosed; Audit Committee oversees related-person transactions per charter.
Overall, Howard’s independence, committee leadership, and deep risk/operations background bolster board effectiveness. Investor scrutiny should focus on founder influence over committee chairs, board observer privileges, and interlocks, with continued monitoring through Audit/Nominating practices and disclosure.