Alexandra C. Griffin
About Alexandra C. Griffin
Alexandra C. Griffin, age 36, has served as an Independent Director of Envela Corporation since January 17, 2017, and is the Chair of the Audit Committee; she is designated the Audit Committee Financial Expert under Item 407(d)(5)(ii) of Regulation S‑K and is independent under exchange listing standards . She is a Certified Public Accountant with a B.S. in Accounting from the University of Texas at Arlington and currently serves as an Accounting Manager for Zelus Analytics (acquired by Teamworks in September 2024), with prior accounting roles at Intercontinental Capital Group (FY2022) and PrimeLending (2015–2021) . The Board reported full attendance by all directors at Board meetings in fiscal 2024 and attendance at the 2024 Annual Meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Zelus Analytics (Teamworks) | Accounting Manager | Current; Zelus acquired by Teamworks in Sept 2024 | Finance, reporting, analytics-focused accounting experience |
| Intercontinental Capital Group | Accounting Manager | Fiscal 2022 | Financial reporting and analysis |
| PrimeLending | Various accounting positions | 2015–2021 | Progressive accounting roles; mortgage finance exposure |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company boards | — | — | No other public company directorships disclosed in the 2025 DEF 14A biography |
Board Governance
- Independence and roles: Griffin is independent and serves as Chair of the Audit Committee; she is identified as the Audit Committee Financial Expert . She is also a member of the Compensation Committee and the Compliance, Governance & Nominating Committee (CGN) .
- Board structure: Envela combines the roles of Chair and CEO (held by John R. Loftus), with a Lead Independent Director role held by Jim R. Ruth to enhance independent oversight .
- Attendance: The Board met four times in FY2024; all directors attended all Board meetings and the 2024 Annual Meeting .
- Committee activity: Audit, Compensation, and CGN Committees each met four times in FY2024 .
| Body/Committee | Role (Griffin) | FY2024 Meetings | Notes |
|---|---|---|---|
| Board of Directors | Director | 4 | All directors reported as attending all meetings |
| Audit Committee | Chair; Financial Expert | 4 | All members independent; charter reviewed annually |
| Compensation Committee | Member | 4 | Chaired by Richard D. Schepp; independent-only committee |
| Compliance, Governance & Nominating (CGN) | Member | 4 | Chaired by Jim R. Ruth; oversees nominations and governance |
| 2024 Director Election (Annual Mtg June 28, 2024) | Votes For | Votes Withheld | Broker Non‑Votes |
|---|---|---|---|
| Alexandra C. Griffin | 21,415,614 | 229,149 | 1,360,364 |
Additional oversight signals:
- Audit Committee Report: The Audit Committee (Griffin, Ruth, Schepp) recommended inclusion of the audited financial statements in the Form 10‑K and confirmed auditor independence (Whitley Penn) .
- Related parties: The company reported no material related party transactions in FY2023 or FY2024 .
- Anti‑hedging: Directors, executives, and employees are prohibited from hedging company securities .
Fixed Compensation
| Component (Directors) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $10,000 | Paid in $2,500 quarterly increments at each quarterly board meeting |
| Committee chair fees | $0 | “There are no other forms of compensation” |
| Meeting fees | $0 | Not paid; covered by retainer |
| Equity (RSU/PSU/Options) | $0 | No equity compensation for directors |
| Director Compensation (FY2024) | Cash ($) | Total ($) |
|---|---|---|
| Alexandra C. Griffin | 10,000 | 10,000 |
Performance Compensation
| Item | Detail |
|---|---|
| Performance cash bonus | Not applicable; directors receive only cash retainer |
| Equity (RSU/PSU/Options) | None granted to directors; no equity program for directors |
| Performance metrics (TSR/EBITDA/ESG) | Not applicable for directors |
| Clawback/COC provisions for directors | Not disclosed for directors in proxy; director pay is fixed cash |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed in the 2025 DEF 14A biography |
| Private/non‑profit/academic boards | Not disclosed |
| Interlocks (e.g., compensation committee interlocks) | Not disclosed in the proxy excerpts reviewed |
Expertise & Qualifications
- CPA; Audit Committee Financial Expert designation; strong accounting, financial analysis, and reporting background .
- B.S. in Accounting, University of Texas at Arlington .
- Hands‑on operating finance/accounting roles across analytics, mortgage finance, and lending organizations .
- Independence affirmed by the Board .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Class |
|---|---|---|
| Alexandra C. Griffin | 2,300 | <1% (asterisked in table) |
Context:
- Shares outstanding for ownership table were based on 25,995,201 shares as of April 30, 2025 (company note) .
- Anti‑hedging policy in place for directors, executives, and employees .
Governance Assessment
Positives
- Independent director serving as Audit Committee Chair and designated Audit Committee Financial Expert, with active committee cadence (Audit met four times in FY2024) .
- Full Board attendance in FY2024 and at the 2024 Annual Meeting—signals engagement .
- No material related‑party transactions reported in FY2023 or FY2024—reduced conflict risk .
- Strong shareholder support in 2024 director election (≈21.4M for; ≈0.23M withheld) .
- Anti‑hedging policy prohibits hedging transactions—alignment with governance best practices .
Watch items / RED FLAGS
- Combined CEO/Chair structure concentrates authority; mitigated by a Lead Independent Director but still a structural risk .
- Controlling shareholder: CEO/Chair John R. Loftus beneficially owns ~73.78% of shares, materially limiting minority shareholder influence over director elections and governance outcomes .
- Director pay is minimal and 100% cash with no equity component; while it reduces pay complexity, it may limit long‑term ownership alignment at the board level (Griffin holds 2,300 shares, <1%) .
Overall implication for investor confidence
- Griffin’s audit leadership, independence, and finance credentials are governance positives, particularly for financial reporting oversight and auditor independence .
- The company’s ownership and leadership structure (combined CEO/Chair with a controlling shareholder) dominates governance dynamics; independent directors’ influence is structurally constrained despite committee activity and the presence of a Lead Independent Director .