Stephen Alarcon
About Stephen Alarcon
Stephen Alarcon, age 42, is an independent Class I director of Concrete Pumping Holdings (BBCP) and Vice President at Peninsula Pacific, a private investment fund focused on gaming, consumer, and industrial sectors; he has served on BBCP’s board since 2021 and holds a BBA (with high honors) from the McCombs School of Business at the University of Texas at Austin . The Board has determined Mr. Alarcon to be independent under Nasdaq listing standards; he is currently standing for re‑election at the April 22, 2025 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Peninsula Pacific | Vice President | Joined in 2013 (current) | Private equity investment and portfolio oversight across gaming/consumer/industrial sectors |
| Aurora Resurgence | Vice President | Prior to 2013 | Buyouts and special situations; served on boards of multiple portfolio companies in North America and Europe |
| Highland Capital Management | Analyst (distressed investing) | Earlier career | Distressed investing analysis |
| Lehman Brothers (Global Leveraged Finance) | Analyst | Earlier career | High yield/mezzanine underwriting, M&A, restructuring advisory across industries/domestic & international |
External Roles
| Organization | Role | Nature | Notes |
|---|---|---|---|
| Peninsula Pacific | Vice President | Private investment fund | Focused on gaming, consumer, industrial sectors; board service on multiple portfolio companies (names not disclosed) |
Board Governance
- Committee memberships: Member, Corporate Governance & Nominating Committee; chair is Howard D. Morgan .
- Independence: Board determined Mr. Alarcon is independent under Nasdaq standards .
- Attendance: In FY2024, the Board met 7x; Audit 4x; Compensation 4x; Corporate Governance & Nominating 1x; all directors attended ≥75% of aggregate Board/committee meetings; nine directors attended the 2024 annual meeting of stockholders .
- Board leadership: Chair is Howard D. Morgan; Vice Chair is Brian Hodges; both are non‑officers. Independent directors hold executive sessions at each regularly scheduled Board/committee meeting .
- Stockholders Agreement/interlocks: Peninsula Pacific holds nomination rights and currently designates three directors (M. Brent Stevens, Stephen Alarcon, Raymond Cheesman), evidencing sponsor influence on board composition .
| Governance Item | Status | Citation |
|---|---|---|
| Audit Committee | Members: Armstrong, Piecuch (Chair), Cheesman | |
| Compensation Committee | Members: Armstrong, Hodges (Chair), Morgan, Cheesman | |
| Corporate Governance & Nominating Committee | Members: Faust, Morgan (Chair), Hall, Alarcon | |
| Director Independence | Independent under Nasdaq | |
| FY2024 Attendance | ≥75% for all directors; 7 Board meetings | |
| Executive Sessions | Independent directors meet each regular meeting | |
| Chair/Vice Chair | Chair: Morgan; Vice Chair: Hodges |
Fixed Compensation
| Fiscal Year | Role | Cash Retainer (USD) | Committee Chair/Vice Chair Adders | Total Cash | Equity/Other |
|---|---|---|---|---|---|
| FY2024 | Non‑Employee Director | $112,000 | None applicable to Alarcon | $112,000 | No equity, no meeting fees; “only compensation” paid to Directors |
| FY2023 | Non‑Employee Director | $112,000 | None applicable to Alarcon | $112,000 | No equity, no meeting fees; “only compensation” paid to Directors |
Performance Compensation
| Component | Details |
|---|---|
| Annual equity (RSUs/PSUs/Options) | Not granted to directors; proxy states director compensation is cash retainers only, with no other material arrangements |
| Performance metrics (TSR, EBITDA, ESG) | Not applicable to directors; no performance‑based compensation disclosed |
Other Directorships & Interlocks
| Category | Entity | Role | Notes |
|---|---|---|---|
| Public company boards | None disclosed | — | No current public company directorships reported in biography |
| Sponsor interlocks | Peninsula Pacific | Designee | Peninsula holds nomination rights; Alarcon is one of three Peninsula designees on BBCP’s Board |
| Sponsor/PE presence | Argand Partners/CFLL Holdings | Board seats (Morgan, Faust; CFLL 29.1%) | Significant ownership and board representation by Argand (CFLL manager), indicating multi‑sponsor board |
Expertise & Qualifications
| Attribute | Detail | Citation |
|---|---|---|
| Education | BBA, high honors, McCombs School of Business, University of Texas at Austin | |
| Functional expertise | Finance, leveraged finance, distressed investing, M&A/special situations | |
| Industry coverage | Broad across gaming, consumer, industrial; North America & Europe portfolio exposure |
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding Common Stock | Notes |
|---|---|---|---|
| Stephen Alarcon | 38,500 | <1% | As of Feb 25, 2025; address corporate HQ |
| Hedging/Pledging | Prohibited | — | Company insider trading policy prohibits hedging and pledging of Company securities |
| Ownership Guidelines (Directors) | Not disclosed | — | No director ownership guideline disclosure in proxy |
Governance Assessment
- Strengths
- Independent director with deep finance/distressed/leveraged finance skillset; sits on Governance & Nominating, supporting board composition and succession planning .
- Board/committee structure and executive session practices support independent oversight; Alarcon deemed independent under Nasdaq .
- Attendance thresholds met across FY2024; board met 7 times; indicates baseline engagement .
- Alignment and incentives
- Director pay is 100% cash retainer ($112k in FY2024 and FY2023); no equity grants to directors—reduces dilution but also limits director equity alignment versus cash‑only compensation .
- Potential conflicts/interlocks
- Peninsula Pacific’s nomination rights and three designees (including Alarcon) create sponsor influence on board composition; combined with significant ownership by BBCP Investors (20.7%) and CFLL/Argand (29.1%), board dynamics may reflect sponsor priorities over minority investors unless counterbalanced by independent processes .
- Related‑party oversight
- Proxy discloses related‑party arrangements involving CEO and family members (Eco‑Pan and Camfaud leases; compensation for relatives). These are overseen by the Audit Committee, but continued scrutiny is warranted; no Alarcon‑specific related party transactions disclosed .
- RED FLAGS
- Sponsor nomination rights (Peninsula) and concentrated ownership (CFLL 29.1%; BBCP Investors 20.7%; Stevens beneficial 22.2%) may limit minority shareholder influence and pose conflicts in strategic or transaction decisions unless robust independence practices persist .
- Cash‑only director compensation with no equity component may weaken long‑term ownership alignment relative to market norms .
Overall, Stephen Alarcon brings relevant sponsor‑side financial expertise and serves on a key governance committee, but investors should weigh the sponsor interlocks and cash‑only director pay when assessing board independence and alignment .