Kent Puckett
About Kent Puckett
Independent director at Bollinger Innovations (formerly Mullen Automotive), with finance and accounting credentials; previously CFO of Mullen Technologies (2012–2018). He serves on key governance committees, identified as an audit committee financial expert, and holds a B.S. in Business Administration (Pensacola Christian College), with advanced studies in public-company finance and reporting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mullen Technologies, Inc. | Chief Financial Officer | 2012–2018 | Built audit/disclosure processes; finance leadership |
| Mullen Automotive/Bollinger Innovations | Director | Since Nov 2021 | Audit Chair; Compensation Chair; Nominating & Governance member; audit committee financial expert |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| DRIVEiT | Director | Since Jan 2024 | Outside public/directorship interlock |
Board Governance
- Committee assignments and chair roles:
- Audit Committee Chair; designated audit committee financial expert
- Compensation Committee Chair
- Nominating & Corporate Governance Committee Member
- Independence status: Committees comprised entirely of directors deemed “independent” under Nasdaq and SEC rules; Puckett identified as independent despite prior CFO role .
- Attendance and engagement: In FY2024, Board held 12 meetings; Audit (3), Compensation (2), Nominating (0); no director attended fewer than 75% of combined Board/committee meetings .
- Tenure continuity: Director since 2018 at Mullen Technologies and since 2021 at Mullen Automotive; company rebranded to Bollinger Innovations in July 2025 .
Fixed Compensation
| Metric | FY/Period | Amount | Notes |
|---|---|---|---|
| Non-employee directors’ cash compensation (aggregate) | Nine months ended Jun 30, 2025 | $319,000 | Board-level total; individual director detail not disclosed |
| Non-employee directors’ equity compensation (aggregate) | Nine months ended Jun 30, 2025 | $601,000 | Common stock awards; board-level total |
No director-level retainer, meeting fees, or committee chair fee schedules were disclosed in available filings; compensation is reported in aggregate for non-employee directors .
Performance Compensation
- No performance-based awards (PSUs, TSR-linked plans) or director bonus metrics disclosed for directors; director compensation consists of cash and common stock per quarterly filings .
Other Directorships & Interlocks
| Company | Relationship | Potential Interlock Risk |
|---|---|---|
| DRIVEiT | Outside board seat | Minimal direct conflict disclosed; monitor for related-party transactions or supply/customer overlaps |
Expertise & Qualifications
- Audit and financial expertise: Board designated Puckett as “audit committee financial expert” under SEC rules .
- Finance leadership: Prior CFO experience covering audits, disclosure controls, and budgeting .
- Education: B.S. in Business Administration; advanced studies in finance, compliance, taxation, and public-company reporting (company IR profile) .
Equity Ownership
| Holder | As-of Date | Common Shares | % of Class | Notes |
|---|---|---|---|---|
| Kent Puckett | Record Date Aug 22, 2025 | 1 | <1% | As reported in DEF 14A special meeting proxy |
No pledging, hedging, options, or RSU detail disclosed for Puckett; ownership appears de minimis, indicating limited personal capital at risk .
Governance Assessment
-
Strengths:
- Chairs Audit and Compensation; designated audit financial expert—supports oversight of reporting and pay practices .
- Committee independence affirmed; attendance thresholds met in FY2024, signaling engagement .
-
Risks and RED FLAGS:
- Change-of-control severance for non-employee directors: $5 million cash to each director plus full vesting of unvested equity upon a change in control—shareholder-unfriendly and a significant pay-for-transaction incentive misaligned with minority holders’ interests .
- Low ownership alignment: 1 share owned (<1%), indicating minimal “skin in the game” versus governance responsibilities .
- Prior executive relationship: Former CFO (2012–2018) now chairing Audit and Compensation may raise independence optics despite Board’s formal independence designation .
- Litigation overhang: Derivative actions named Puckett among directors (e.g., Coleman/Witt actions); some were settled/dismissed or stayed but highlight governance scrutiny of board actions .
- Corporate stability and listing risks: Company executed multiple reverse splits and faced Nasdaq compliance issues; while company-level, it reflects governance/strategic oversight environment in which Puckett is a key committee chair .
Overall signal: Strong technical audit credentials but weak alignment and potential conflicts via outsized change-of-control payouts and former executive status in independence-sensitive roles. Monitor committee decisions on related-party reviews, compensation structure, and shareholder engagement given ongoing governance scrutiny .