Eric C. Neuman
About Eric C. Neuman
Eric C. Neuman, age 80, is an independent director of Drilling Tools International (DTI) and has served on the Board since 2012. He currently chairs the Compensation Committee and is a member of the Audit Committee, bringing decades of investment analysis and governance experience, including prior audit chair service at Hemisphere Media Group. He holds a BA from the University of South Florida and an MBA from Northwestern University. The Board has determined he is independent under SEC and Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hicks Equity Partners, LLC | Managing Director & Partner | 2005–2023 | Private equity investment firm founded by Thomas O. Hicks; governance and investment analysis experience |
| Hicks, Muse, Tate & Furst | Partner & Officer | Prior to HEP (dates not specified) | Investment firm; provided leveraged acquisition and investment background |
| Hemisphere Media Group (NASDAQ: HMTV) | Director; Audit Committee Chair | Apr 2013–Sep 2022 | Led audit oversight; experience in cybersecurity risk management noted |
External Roles
| Organization | Role | Tenure | Details |
|---|---|---|---|
| Great American Media Group | Senior Advisor | Since 2023 | Advises a media company with pay TV and streaming platforms |
| Crossings, LLC | Manager | Since 2013 | Investment company management |
| Tower of Babel, LLC | Director | Since Apr 2013 | Cable television network board service |
Board Governance
- Committee assignments: Compensation Committee Chair; Audit Committee member .
- Independence: Board determined all directors other than R. Wayne Prejean and Thomas O. Hicks are independent; Neuman is independent .
- Board and committee activity: Board held five meetings in 2024; each director attended at least 75% of Board and committee meetings during service periods .
- Committee meeting cadence: Audit Committee met five times; Compensation Committee met four times in 2024 .
- Annual meeting engagement: All directors attended the 2024 Annual Meeting; all are expected to attend the 2025 Annual Meeting .
Committee Composition (Neuman’s committees, FY2024)
| Committee | Role | Members | Meetings (FY2024) |
|---|---|---|---|
| Compensation | Chair | Neuman (Chair), Patterson, Vermillion | 4 |
| Audit | Member | Furst (Chair), Neuman, Patterson | 5 |
Fixed Compensation
2024 Non-Employee Director Compensation (DTI)
| Item | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $115,000 |
| Stock Awards (RSUs, grant-date fair value) | $176,802 |
| All Other Compensation (expense reimbursement) | $1,601 |
| Total | $293,403 |
Director Compensation Program (structure)
- Meeting fees: $15,000 per in-person meeting; $5,000 per virtual meeting .
- Committee chair retainers: Audit $25,000; Compensation $20,000; Nominating & Corporate Governance $20,000 .
- Committee member retainers: Audit $20,000; Compensation $15,000; Nominating & Corporate Governance $15,000 .
- Annual equity grant: $75,000 value, vests one year from grant, issued day prior to annual stockholders’ meeting .
Performance Compensation
- Director equity grants are time-based RSUs; no performance metrics or targets were disclosed for director grants .
| Performance Metric | Weighting | Target | Outcome | Payout Impact |
|---|---|---|---|---|
| Director equity awards | N/A | Not disclosed | Time-based vesting | Not performance-based |
Note: Executive (NEO) STIP metrics and outcomes are disclosed separately and do not apply to director compensation .
Other Directorships & Interlocks
- Current board roles: Tower of Babel, LLC (since Apr 2013) .
- Prior public board: Hemisphere Media Group, Director and Audit Chair (Apr 2013–Sep 2022) .
- Advisory/management roles: Senior Advisor, Great American Media Group (since 2023); Manager, Crossings, LLC (since 2013) .
- Compensation Committee interlocks: DTI disclosed no Item 404 related-party relationships for Compensation Committee members in 2024; none were officers/employees .
Expertise & Qualifications
- Finance and investment analysis across private equity and media; governance and audit oversight experience .
- Prior audit chair experience with cybersecurity risk oversight .
- Education: BA, University of South Florida; MBA, Northwestern University .
Equity Ownership
Beneficial Ownership (Record Date: March 17, 2025)
| Holder | Shares | Percent of Class |
|---|---|---|
| Eric C. Neuman | 60,526 (28,204 direct; 18,610 vested RSUs; 13,712 unvested RSUs vesting within 60 days) | <1% (outstanding shares: 35,592,737) |
- Stock ownership guidelines: Directors must hold shares equal to at least five times annual cash received from meeting attendance fees; as of the record date, each covered director was either in compliance or within the five-year phase-in period .
- Hedging/pledging: Company policy prohibits hedging and pledging of DTI securities for directors, officers, employees, contractors, and consultants .
Governance Assessment
- Strengths: Independent director; chairs Compensation Committee; serves on Audit Committee; strong engagement (Board five meetings; committees active); full director attendance at 2024 Annual Meeting; robust director stock ownership guidelines; hedging/pledging prohibited; Compensation Committee engaged Korn Ferry in 2025 to review peer group and pay program (signal of governance rigor) .
- Alignment: 2024 director compensation shows material equity component ($176,802 RSUs) alongside cash fees ($115,000), supporting ownership alignment; RSUs structured with one-year vesting .
- Conflicts/related party exposure: Historical affiliation with Hicks Equity Partners (2005–2023); Board Chair Hicks has significant beneficial ownership and related Hicks Holdings management fee payments; however, Neuman is deemed independent and Compensation Committee members had no Item 404 relationships in 2024, with related-party transactions subject to Audit Committee review/approval .
- Risk indicators: No director-specific legal proceedings or SEC investigations disclosed; insider trading policy restrictions in place; EGC status—no say-on-pay requirement (limits shareholder pay feedback mechanisms) .
Overall: Neuman’s committee leadership and independence, combined with equity-based director pay and ownership guidelines, are positive for alignment and board effectiveness; monitor potential perceived influence from historical ties to Hicks affiliates and ensure continued robust Audit Committee oversight of related-party transactions .