Chris Lehane
Director at COIN
Board
About Chris Lehane
Chris Lehane (age 57) joined Coinbase’s Board in July 2024. He is Vice President for Global Affairs at OpenAI (since April 2024), and previously served as Chief Strategy Officer at Haun Ventures (March 2022–April 2024) and on Airbnb’s executive team leading global policy and communications (2015–2022). He earlier co‑founded the consultancy Fabiani & Lehane and served in the Clinton Administration (Press Secretary to Vice President Al Gore; Special Assistant Counsel to President Clinton). He holds a B.A. in History from Amherst College and a J.D. from Harvard Law School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Haun Ventures | Chief Strategy Officer | Mar 2022 – Apr 2024 | Strategy leadership at crypto-focused VC; Coinbase had an MSA with Haun Ventures for Lehane’s services (terminated Apr 2024) . |
| Airbnb, Inc. | Executive (led global policy & communications) | Sep 2015 – Mar 2022 | Executive management team; global policy function build-out . |
| Fabiani & Lehane | Co‑founder, strategic consultancy | May 2001 – Aug 2015 | Advised political, corporate, tech, entertainment, sports clients . |
| U.S. Government (Clinton Administration) | Press Secretary to VP Al Gore; Special Assistant Counsel to President Clinton | 1990s | Senior communications and legal roles in federal government . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| OpenAI | Vice President for Global Affairs | Apr 2024 – present | Oversees global affairs for AI company . |
| Council on Foreign Relations | Member | n/a | Policy network participation . |
| Amherst College | Trustee Emeritus | n/a | Governance advisory role . |
| Various non‑profits | Advisory boards | n/a | Non‑profit advisory involvement . |
Board Governance
- Independence status: Not listed among Coinbase’s eight independent directors; Board determined eight of ten nominees are independent (names listed exclude Lehane) .
- Committees: None (not listed on Audit & Compliance, Compensation, or Nominating & Corporate Governance committees; committee rosters exclude Lehane) .
- Attendance: In 2024, all directors met ≥75% board/committee attendance except Messrs. Andreessen and Ehrsam (implies Lehane met attendance threshold) .
- Tenure: Director since July 2024; directors elected annually (declassified board while CEO holds majority voting power) .
- Lead Independent Director structure: Fred Wilson serves as Lead Independent Director with defined responsibilities; committees are 100% independent .
Fixed Compensation (Non‑Employee Director Program)
| Component | Coinbase Policy (2024–2025) | Notes |
|---|---|---|
| Annual cash retainer | Generally equity‑only program; certain special committee service may be paid in cash | Kramer/Rajaram received cash for special litigation committee; Lehane $0 cash in 2024 . |
| Initial RSU | $550,000 grant value at appointment; vests over 3 years (1/3 annually on specified quarterly vest dates) | “Initial Award” under 2021 Plan . |
| Annual RSU | $325,000 grant value (raised from $300,000 in Apr 2024); vests by next annual meeting or 1 year | Pro‑rated if appointed off‑cycle . |
| Additional RSU for roles | Lead Independent Director $45,000; Committee Chair $25–35k; Committee member $15–20k | Equity grants for governance roles, pro‑rated if mid‑cycle . |
| Ownership guideline | $350,000 minimum within 5 years; retain 25% of net shares if not yet compliant | Increased from $250k in Apr 2024; directors on track as of 12/31/24 . |
Performance Compensation
- No performance‑based pay for directors. Director equity is time‑vested RSUs; no options or performance metrics apply to non‑employee directors (Additional Annual Awards reflect roles, not performance) .
Director‑Specific 2024 Compensation Detail (Lehane)
| Metric | 2024 |
|---|---|
| Fees Earned or Paid in Cash ($) | $0 |
| Stock Awards – Grant Date Fair Value ($) | $839,085 |
| Total ($) | $839,085 |
2024 RSU Grants and Vesting (Lehane)
| Grant Date | Shares | Fair Value (ASC 718) | Vesting |
|---|---|---|---|
| Jul 24, 2024 | 1,180 | Included in $839,085 total | Vests in full on Jun 18, 2025, subject to service . |
| Jul 24, 2024 | 2,244 | Included in $839,085 total | 1/3 on Aug 20, 2025; 1/3 on Aug 20, 2026; 1/3 on Aug 20, 2027; subject to service . |
Other Directorships & Interlocks
- Current public company boards: None disclosed in proxy for Lehane .
- Potential interlocks/related party exposure:
- Coinbase had a master services agreement with Haun Ventures (where Lehane worked) to provide his services to Coinbase for a quarterly fee of $1.0 million; the MSA was mutually terminated in April 2024 before he joined the Board (mitigates conflict) .
- Committee interlocks: None; not on Coinbase’s Compensation Committee and no reciprocal interlocks disclosed .
Expertise & Qualifications
- Public policy and regulatory affairs expertise (OpenAI; Airbnb policy leadership) .
- Strategic communications and crisis management (Airbnb; prior White House and Vice Presidential roles) .
- Legal training (Harvard Law); government experience; networked in policy circles (CFR) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of Mar 31, 2025) | Lehane not separately listed with share counts; indicates <1% and no reported beneficial stake in the ownership table . |
| Unvested director RSUs at 12/31/2024 | 3,424 shares unvested (sum of 1,180 and 2,244 RSUs granted in 2024) . |
| Ownership guidelines | Must accumulate ≥$350,000 in Coinbase shares within 5 years; directors on track as of 12/31/2024 . |
| Hedging/pledging | Hedging prohibited; pledging prohibited without CLO approval . |
Governance Assessment
- Board effectiveness: Lehane adds deep public policy and strategic communications expertise at a time of intensifying regulatory focus on crypto and AI. His attendance met company standards in 2024 and he holds no committee seats, ensuring committees remain fully independent .
- Independence/Conflicts: He is not classified as independent by Nasdaq standards at Coinbase, which slightly reduces independent representation; however, all committees remain 100% independent. A prior related‑party arrangement (Haun Ventures MSA tied to his services) was terminated before his appointment, mitigating ongoing conflict risk (note the sizable fee level was a red‑flag historically) .
- Alignment & incentives: Director pay is equity‑heavy with time‑based RSUs and ownership guidelines ($350k within five years), which promotes alignment; no performance metrics or options reduce risk‑taking. Lehane’s 2024 stock awards (3,424 RSUs) and no cash retainer fit the program design .
- Signals for investors:
- Positive: Policy/regulatory depth; equity‑only director pay; attendance compliance; termination of MSA pre‑appointment .
- Watch items: Non‑independent status; historically large third‑party fee for his services prior to board entry (now ended) .
RED FLAGS: Prior related‑party services agreement (Haun Ventures) at $1.0 million per quarter before board appointment (terminated April 2024) . Non‑independent director status (though committees remain fully independent) .