Andrew Lauck
About Andrew C. Lauck
Andrew C. Lauck (age 39) has served as an independent Class II director since March 2023 (observer from December 2022 to March 2023). He is an Audit Committee member and is designated an “audit committee financial expert.” Lauck co-founded Maple Park Capital Partners in December 2024 after serving as a Partner at RedBird Capital Partners; he holds a B.S. in Finance and International Business from Indiana University and is an FAA-licensed instrument-rated pilot .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RedBird Capital Partners LP | Partner; Principal; Vice President | Partner: Dec 2019–Dec 2024; Principal: Dec 2016–Dec 2019; VP: Jul 2014–Dec 2016 | Led consumer investments; responsible for investments in BLDE and multiple aviation/logistics assets |
| BDT & Company LLC | Vice President; Associate | Dec 2013–Jul 2014; Aug 2011–Dec 2013 | Merchant banking experience |
| Flexpoint Ford, LLC | Associate | Jul 2010–Aug 2011 | Private equity operating experience |
| Goldman Sachs | Analyst | Jul 2007–Jun 2010 | Investment banking foundation |
External Roles
| Organization | Role | Tenure | Public/Private | Notes |
|---|---|---|---|---|
| Maple Park Capital Partners (MPC) | Co-Founder & Managing Partner | Since Dec 2024 | Private | Newly founded investment firm |
| Vogel Alcove | Chairman of the Board | Current | Non-profit | Focus on child homelessness |
| Cotton Bowl Athletic Association | Board Member | Current | Non-profit | Sports/education |
| Rita’s Franchise Company, LLC | Board Member | Current | Private | Franchise operations |
| Jet Linx Global, Inc. | Board Member | Current | Private | Aviation (charter/management) |
| SAR Trilogy Management LLC (AeroCenters) | Board Member | Current | Private | Aviation services/FBO |
| Gitbin & Associates (Go Rentals) | Board Member | Current | Private | Aviation-adjacent car rental |
| Prior Boards (selected) | Director | Various | Private | Ampler QSR; Main Event; Equipment/energy assets; etc. |
Public company directorships: None disclosed for Lauck; his boards are private/non-profit .
Board Governance
| Attribute | Detail |
|---|---|
| Board Class | Class II; next election at 2026 Annual Meeting |
| Committee Memberships | Audit Committee member; not Chair |
| Committee Expertise | Identified as “audit committee financial expert” and financially sophisticated |
| Independence | Determined independent under Nasdaq rules and Exchange Act Rule 10A-3 |
| Attendance | All directors attended ≥75% of Board/committee meetings in 2024 (individual rates not disclosed) |
| Executive Sessions | Independent directors meet regularly in executive session |
| Nomination Rights History | RedBird nomination right (RB Lift) placed Lauck on Board/Audit in 2023; right terminated in 2024 when ownership fell below 5%; Lauck continued serving and on Audit Committee |
Fixed Compensation
| FY2024 Director Compensation (USD) | Cash Fees | Stock Awards (RSUs) | All Other Compensation | Total |
|---|---|---|---|---|
| Andrew C. Lauck | $0 | $0 | $6,616 (Blade flight/car services) | $6,616 |
- Program structure adopted Aug 2024 for non-employee directors: base RSU award $150,000 plus $50,000 in RSUs or cash; additional cash/RSU for chair/member roles (Audit Chair $20k; Comp Chair $15k; NCGC Chair $10k; Audit member $10k; Comp member $7,500; NCGC member $5k). RSUs vest at the 2025 Annual Meeting; cash vests quarterly from May 2, 2024 .
- Flight Benefit Policy: $25,000 personal travel per calendar year for directors; CEO $50,000; participants responsible for imputed income .
- FY2024 exception: Pursuant to the Nomination Rights Agreement, Lauck was not compensated other than reimbursement and flight benefits in FY2024 .
Performance Compensation
| Director Performance-Based Compensation | Disclosure |
|---|---|
| PSUs/Options/Performance Metrics for Directors | None disclosed; director equity is time-based RSUs under the 2024 program |
Other Directorships & Interlocks
| Area | Observation |
|---|---|
| Aviation adjacency | Current board roles at Jet Linx, AeroCenters, and Go Rentals create indirect industry interlocks with Blade’s aviation ecosystem; no related-party transactions with these entities are disclosed . |
| Sponsor/Special rights | RedBird (RB Lift) nomination rights placed Lauck on Board/Audit; rights terminated in 2024; independence affirmed thereafter . |
Expertise & Qualifications
- Financial expertise and Audit Committee “financial expert” designation; deep private equity and merchant banking background across consumer, aviation, and logistics .
- Aviation domain familiarity via board roles and investments; FAA instrument-rated pilot .
- Education: B.S. in Finance & International Business (with distinction & honors), Indiana University .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (shares) | — (none disclosed) |
| Ownership % of outstanding | 0.0% (based on “—” and 79,955,438 shares outstanding) |
| RSUs held (as of 12/31/2024) | None |
| Options held | None disclosed for Lauck |
| Hedging/Pledging | Prohibited by Insider Trading Policy (short sales, hedges, margin, pledging) |
| Director ownership guidelines | 5x maximum potential annual cash retainer; compliance expected within 5 years; as of 12/31/2024, no directors were out of compliance |
Governance Assessment
-
Strengths
- Independent director with Audit Committee membership and “financial expert” designation; active oversight includes review/approval of related-party transactions and risk/cybersecurity discussions .
- RedBird nomination rights ended in 2024, reducing sponsor influence; Board still deems Lauck independent thereafter .
- Board/committee attendance met minimum threshold in 2024; independent directors hold executive sessions regularly .
-
Weaknesses / Alignment Gaps
- No disclosed personal share ownership, RSUs, or options as of 12/31/2024—limited direct “skin-in-the-game” alignment though guidelines allow up to five years to reach threshold .
- Extensive aviation-adjacent private board roles (Jet Linx, AeroCenters, Go Rentals) could create perceived conflicts; no related-party transactions are disclosed, but continued Audit Committee monitoring remains prudent .
-
Compensation Signals
- Lauck received no director fees or RSUs in FY2024 under the nomination agreement exception; only received flight benefit/reimbursements—minimizes pay-related conflicts but also limits equity alignment .
-
RED FLAGS to monitor
- Prior sponsor-linked nomination (now terminated) and subsequent move to Maple Park—monitor any Maple Park or affiliated aviation entities for transactions with Blade (Audit Committee must pre-approve any related-party transactions) .
- Zero beneficial ownership—track future compliance with director stock ownership guidelines and any purchases or RSU grants post-FY2024 .