Garrett Larson
About Garrett Larson
Garrett Larson, age 29, was appointed an independent director of Data I/O (DAIO) on January 23, 2025. He is a Senior Equity Analyst at Kanen Wealth Management and previously led sector verticals across consumer and technology for multi-billion-dollar hedge funds including Kynikos Associates and SPX Capital; he holds a B.S. in Finance from Florida State University . As of March 18, 2025, he beneficially owned 10,272 DAIO shares (<1% outstanding) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kanen Wealth Management, LLC | Senior Equity Analyst | Not disclosed (current as of 2025) | Leads coverage with “extensive track record of creating value” for portfolio cos. |
| Kynikos Associates | Led sector vertical(s) (consumer/technology) | Not disclosed | Equity analysis and strategic decision-making |
| SPX Capital | Led sector vertical(s) (consumer/technology) | Not disclosed | Equity analysis and strategic decision-making |
External Roles
No other public company directorships disclosed for Mr. Larson .
Board Governance
- Independence: Listed as independent under SEC and Nasdaq standards .
- Board leadership: Independent Chair (Sally Washlow); CEO is William Wentworth .
- Committee assignments (current through proxy date): Member of Audit, Compensation, and Corporate Governance & Nominating (CGNC) starting 1/23/2025 .
- Committee chairs: Audit—Douglas W. Brown (Chair); Compensation—Edward J. Smith (Chair); CGNC—Sally A. Washlow (Chair) .
- Board/committee activity (2024 context): 22 board meetings; incumbents attended >89% of board meetings; Audit met 4× with 100% committee attendance; CGNC met 7× with 100% committee attendance; Compensation met 4× with 100% committee attendance (Larson joined in 2025, after these 2024 stats) .
Fixed Compensation
- Non-employee director cash retainer: $7,750 per quarter (2024 program; fees prorated for service changes) .
- Additional quarterly chair retainers: Board Chair $3,750; Audit Chair $2,500; Compensation Chair $2,000; CGNC Chair $2,000 (prorated) .
- 2024 director pay table (Larson appointed in 2025; received no 2024 comp) .
| Item | Amount/Status | Notes |
|---|---|---|
| Quarterly cash retainer | $7,750 per quarter (2024 program) | Non-employee directors; prorated if changes mid-year |
| Chair fees (quarterly) | Board $3,750; Audit $2,500; Comp $2,000; CGNC $2,000 | Prorated |
| 2024 compensation (Larson) | $0 | Appointed 1/23/2025; no 2024 compensation |
Performance Compensation
- Annual equity for non-employee directors (2024 program): 14,100 restricted shares granted 5/16/2024 to incumbents; fair value $2.93 per share ($41,313) each; vest in one year or next annual meeting, if earlier .
- Directors received time-based RSUs; no performance-conditioned (PSU) awards disclosed for directors .
| Equity Component | Grant Date | Shares/Value | Vesting | Applies to Larson in 2024? |
|---|---|---|---|---|
| Restricted Stock (non-employee directors) | 5/16/2024 | 14,100 shares; $41,313 fair value at $2.93/sh | 1 year or next annual meeting | No; he joined in 2025 |
Performance metric table for director compensation: None disclosed (director equity is time-based, not tied to revenue/EBITDA/TSR metrics) .
Other Directorships & Interlocks
| Entity | Relationship | Potential Interlock/Influence |
|---|---|---|
| Kanen Wealth Management, LLC | Larson employer (Senior Equity Analyst) | Kanen-related entities beneficially own 8.86% of DAIO (826,421 shares as of filings referenced), indicating a significant shareholder-employment linkage . |
Expertise & Qualifications
- Capital markets/equity analysis with sector leadership across consumer and technology groups; prior experience at Kynikos Associates and SPX Capital .
- Value creation and strategic decision-making for portfolio companies .
- Education: B.S. in Finance, Florida State University .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Garrett Larson | 10,272 | <1% (DAIO had 9,239,731 shares outstanding on 3/18/2025) | New director as of 1/23/2025 |
| Director ownership guideline | 3× annual director cash retainer; 5 years to comply | Shares owned, shared ownership, and in-the-money gains on vested options count | |
| Compliance status (Larson) | Not yet met (recent appointment) | As of record date; directors retain shares until compliant | |
| Hedging/Pledging | Hedging prohibited under Securities Trading Policy | Policy included in 10-K exhibit; hedging prohibition affirmed |
Governance Assessment
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Signals of independence and effectiveness:
- Formally independent under SEC/Nasdaq; appointed 1/23/2025 and immediately placed on Audit, Compensation, and CGNC, suggesting active engagement and board confidence in his capital markets expertise .
- Board governance framework appears robust: independent chair; 100% committee attendance in 2024; clear charters and clawback policy adopted 10/25/2023 .
- Say-on-Pay approved by 85.5% in 2024; auditor-related shareholder approval 90.9% in 2024—broad support for governance/comp programs historically .
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Potential conflicts and red flags:
- Employment by a significant shareholder (Kanen Wealth Management; related parties hold 8.86%). While the proxy affirms his independence, this affiliation may create perceived influence over strategic decisions (M&A, capital allocation). Monitor for recusal on matters affecting Kanen and any related-party transactions (none material in 2023–2024) .
- Stock ownership guideline not yet met (new appointee; 5-year window). Alignment expected to improve as equity accumulates; directors must retain shares until compliant .
- No individual attendance statistics yet for Larson (joined in 2025); ensure 2025 attendance meets board norms (>89% observed for incumbents in 2024) .
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Director compensation structure:
- Low cash retainers with time-based equity encourage alignment; absence of meeting fees reduces potential for per-meeting incentives; no director options outstanding as of 12/31/2024, which reduces risk of option-related repricing controversies .
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Related-party/insider oversight:
- Audit Committee monitors conflicts; Code of Ethics requires reporting; no significant related-party transactions in 2023–2024 .
Overall: Larson brings shareholder-oriented, capital-markets expertise and has been integrated across all key committees. The principal governance watchpoint is his employment with a major shareholder (Kanen), which, despite formal independence, may necessitate enhanced disclosure and recusal protocols to maintain investor confidence .