Patrick W. O’Brien
About Patrick W. O’Brien
Patrick W. O’Brien (age 79) has served on the Cineverse Corp. (CNVS) Board since July 2015 and is the Company’s Lead Independent Director. He is Managing Director and Principal of Granville Wolcott Advisors (formed in 2009) and previously served as Chairman and CEO of Livevol, Inc., an options technology firm sold to CBOE Holdings. His core credentials emphasize financial analysis, business development, and seasoned leadership across public and private companies. Education not disclosed.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Livevol, Inc. | Chairman & CEO | Not disclosed | Led equity/index options technology firm; company sold to CBOE Holdings |
| Granville Wolcott Advisors | Managing Director & Principal | 2009–present | Provides business consulting, due diligence, asset management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Creative Realities, Inc. | Director | Past five years | Committee roles not disclosed |
| ICPW Liquidation Trust | Director | Past five years | Committee roles not disclosed |
| Merriman Holdings, Inc. | Director | Past five years | Committee roles not disclosed |
Board Governance
| Item | Detail |
|---|---|
| Lead Independent Director | O’Brien serves as Lead Independent Director; responsibilities include presiding without the Chair, liaison role, agenda-setting for independent directors, and shareholder communications |
| Independence | O’Brien is “independent” under SEC and Nasdaq rules |
| Board Meetings (FY ended 3/31/2025) | 7 meetings; each current director attended ≥75% of Board and committee meetings |
| Annual Meeting Attendance | All current directors attended last year’s annual meeting |
| Executive Sessions | Independent directors intend to meet in executive session after regular Board meetings |
Committee Assignments
| Committee | Membership | Chair |
|---|---|---|
| Audit | Member | — |
| Compensation | Member | — |
| Nominating | Member | Chair (O’Brien) |
Audit Committee Note
- Audit financial expert designation: Peter C. Brown; not stated for O’Brien .
- Audit Committee oversees related-party transactions and potential conflicts .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $60,000 | Standard non-employee director cash retainer |
| Lead Independent Director fee | $20,000 | Additional cash fee for LID |
| Committee chair fee | $15,000 | For Nominating Committee chair role |
| Committee member fees | $10,000 | $5,000 each for Audit and Compensation memberships |
| Total cash fees (FY2025) | $105,000 | Disclosed for Patrick W. O’Brien |
Performance Compensation
| Equity Element | Grant Value | Shares | Vesting | Notes |
|---|---|---|---|---|
| Annual restricted stock grant | $90,000 | 24,433 shares | Vests quarterly | Value based on trailing 20-day VWAP; half of annual grant unvested as of 3/31/2025 |
| New director initial grant (policy) | $180,000 | Not applicable to O’Brien | 3-year, equal annual tranches | Policy note only; applies to new directors |
Performance Metrics Tied to Director Compensation
| Metric Type | Disclosure |
|---|---|
| Performance-based criteria for director equity | Not disclosed; annual director grants are time-based vesting (quarterly) |
Other Directorships & Interlocks
| Company | Potential Interlock/Conflict | Notes |
|---|---|---|
| Creative Realities, Inc.; ICPW Liquidation Trust; Merriman Holdings, Inc. | None disclosed | Service during past five years; no CNVS-related transactions disclosed |
Expertise & Qualifications
- Financial analysis and business development focus; seasoned executive across private and public companies .
- Lead Independent Director with defined responsibilities that enhance independent oversight .
- Audit Committee financial expert designation applies to Peter C. Brown; O’Brien’s financial expert status not stated .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Basis/Date |
|---|---|---|---|
| Patrick W. O’Brien | 128,493 | Less than 1% | As of 9/24/2025; 19,124,406 shares outstanding |
Ownership Alignment & Policies
- Director stock ownership guidelines: minimum of 3x annual cash retainer; O’Brien meets the guidelines as of 3/31/2025 .
- Insider Trading Policy: prohibits trading on MNPI; discourages speculative transactions and hedging; pre-clearance required; pledging not specifically disclosed .
Governance Assessment
- Board effectiveness: O’Brien’s Lead Independent Director role and chairing of Nominating enhances independent oversight, agenda-setting, and executive session leadership—important mitigants given combined CEO/Chair structure .
- Engagement and attendance: ≥75% attendance threshold met; executive sessions intended each regular meeting; all directors attended last annual meeting—positive for investor confidence .
- Compensation alignment: Director pay mix balances cash ($105k) and equity ($90k annual restricted stock), with quarterly vesting and stock ownership guidelines met—supports alignment without performance metrics in director equity .
- Controls and conflicts: Audit Committee oversees related-party transactions; Company reports no significant related-party transactions since FY start—low conflict risk .
- Shareholder sentiment: Say-on-Pay support improved from 62% (2023) to 90% (2024) following engagement and disclosure enhancements—signal of responsive governance .
- Plan governance: Equity plan features include clawback, no gross-ups, no repricing, minimum one-year vesting, director compensation caps—good governance hygiene .
RED FLAGS
- Prior lower Say-on-Pay support (62% in 2023) indicates historical concerns; improved to 90% in 2024 after engagement, but should be monitored for consistency .
- Combined CEO/Chair structure remains; mitigated by a robust Lead Independent Director role held by O’Brien .
Director Compensation Summary (FY ended 3/31/2025)
| Name | Cash Fees ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Patrick W. O’Brien | 105,000 | 90,000 | 195,000 |
Committees Snapshot
| Audit | Compensation | Nominating |
|---|---|---|
| Member (O’Brien) | Member (O’Brien) | Chair (O’Brien) |
Section 16 Compliance
- No delinquent Section 16(a) reports for directors/officers/10% holders during the last fiscal year .