Joseph V. Salvucci, Jr.
About Joseph V. Salvucci, Jr.
Independent director of EON Resources Inc. (EONR) since December 2021; age 39. Salvucci Jr. is CEO of PEAK Technical Staffing USA, oversees nine branches and several hundred employees, and holds an Executive MBA from the University of Pittsburgh; he also serves on the board of Temporary Services Insurance Limited (TSIL) . He is classified as an independent director under NYSE American standards, despite a family relationship on the board (father–son with Chairman Joseph V. Salvucci, Sr.) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PEAK Technical Staffing USA | Chief Executive Officer (previously President/COO) | 2010–present | Leads strategic initiatives (Staff Training, Career Pathing, Organic Growth) |
| EON Resources Inc. | Independent Director | Dec 2021–present | Chairs Compensation and Nominating Committees |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Temporary Services Insurance Limited (TSIL) | Director | Not disclosed | Workers’ compensation insurance for staffing industry |
- No other public company directorships disclosed .
Board Governance
| Governance Item | Detail | Evidence |
|---|---|---|
| Independence | Board deems Salvucci Jr. independent (NYSE American standards) | |
| Committees | Compensation Committee (Chair); Nominating & Corporate Governance (Chair); not on Audit Committee | |
| Audit Committee | Members: Byron Blount (Chair), Joseph V. Salvucci, Sr.; both financially literate; Blount is “audit committee financial expert” | |
| Attendance | Each director attended >75% of board meetings in FY2023 | |
| Executive Sessions | Independent directors have regularly scheduled meetings without management present | |
| Board Size/Class | 5 directors; staggered into two classes; Class I (including Salvucci Jr.) re-elected to 2026 at Nov 25, 2024 annual meeting |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee directors) | $75,000 | Director compensation program established; no director pay in FY2023 prior to business combination close |
| Annual RSU grant (non-employee directors) | $75,000 (value; shares = $75,000 ÷ stock price at grant) | Vests on first anniversary; equity under 2023 Plan |
| Chair fees | $20,000 (Compensation Chair), $15,000 (Nominating Chair) | Salvucci Jr. holds both chair roles; incremental to base retainer |
As structured, the cash/equity mix is 50/50 at the base level, with added cash chair fees aligning with committee leadership responsibilities .
Performance Compensation
- Directors are granted RSUs that vest time-based; no director-specific performance metrics disclosed .
- Company’s 2023 Omnibus Equity Incentive Plan permits performance awards, dividend equivalents, options/SARs, and other equity-based awards; includes clawback and no-repricing protections.
| Plan Feature | Metric/Mechanism | Notes |
|---|---|---|
| Performance Awards | Company/unit financial performance, grantee performance, peer/index comparisons (committee-determined) | Enabled but not disclosed for director awards |
| Clawback | Awards subject to mandatory repayment per policy/law | Plan includes recoupment provisions |
| No Repricing | Options/SARs cannot be repriced without shareholder approval | Governance safeguard |
Other Directorships & Interlocks
| Relationship | Detail | Governance Consideration |
|---|---|---|
| Family relationship on board | Father (Joseph V. Salvucci, Sr.) is Chairman and independent director | Heightens related-party sensitivity; board still deems both independent |
| JVS Alpha Property, LLC | Manager: Salvucci Jr.; major shareholder; received 94,000 Class A shares under Founder Pledge Agreement | Related-party exposure; Audit Committee oversees RPT policy |
Expertise & Qualifications
- Executive leadership in staffing and operations; strategic initiatives; industry experience in workforce solutions .
- Education: Executive MBA (University of Pittsburgh) .
Equity Ownership
| Metric | Nov 7, 2024 | Jan 15, 2025 |
|---|---|---|
| Total beneficial ownership (shares) | 882,784 | 932,617 |
| % of total voting power | 8.4% | 6.6% |
| Direct Class A shares | 24,254 | 132,784 |
| Class A via JVS Alpha Property LLC | 108,530 | Not separately listed (JVS Jr. control disclosed) |
| Warrants (underlying Class A) | 750,000 (JVS Alpha Property LLC) | 750,000 (of 1,000,000 warrants at JVS Alpha) |
| Vested RSUs (underlying shares) | Not disclosed | 49,833 |
- JVS Alpha Property LLC is managed by Salvucci Jr. and is a significant holder (19.5% at Nov 7, 2024; 14.3% at Jan 15, 2025), indicating concentrated insider ownership .
- No pledging by Salvucci Jr. disclosed; October 2024 pledge shares involved other insiders (CEO, CFO, GC, director Blount, VP Ops) .
Insider Trades (Form 4)
| Date | Type | Shares | Price | Post-transaction Direct Ownership |
|---|---|---|---|---|
| 2025-06-27 | Purchase (P) | 15,000 | $0.35 | 147,784 |
| 2025-08-18 | Purchase (P) | 14,000 | $0.35 | 161,784 |
| 2025-09-15 | Purchase (P) | 156,000 | $0.3819 (weighted avg; trades $0.37–$0.40) | 317,784 |
Note: The 9/15/2025 filing indicates “P” (purchase) while footnote text references “sold” in error; the transaction code and acquired/disposed code show an acquisition .
Governance Assessment
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Strengths:
- Independent director status; chairs two critical governance committees (Compensation and Nominating), indicating strong board engagement .
- Formal committee charters; Audit Committee chaired by an audit committee financial expert; related-party transactions require Audit Committee approval .
- Director compensation policy anchored to equity (RSUs) and chair responsibilities; plan-level protections (clawback, no-repricing) .
-
Potential Conflicts / RED FLAGS:
- Family relationship on the board (father is Chairman), increasing scrutiny of independence in practice; nonetheless both deemed independent by the company .
- Significant ownership and managerial control of JVS Alpha Property LLC, a major shareholder that received founder-related equity and participated in exchanges; multiple related-party transactions involving insiders (including issuance of 94,000 shares to JVS Alpha Property LLC and share exchanges) .
- Material dilution pathways overseen by the board (White Lion purchase agreement; exchange into convertible notes), potentially misaligning with minority holders if not carefully managed. Board states no substantial interests beyond share ownership, but insider concentration heightens perceived conflict risk .
-
Investor Confidence Signals:
- Salvucci Jr.’s insider purchases (June–September 2025) increase alignment and skin-in-the-game .
- Compensation committee’s authority to engage independent consultants; Pearl Meyer retained (independent determination in Nov 2022) supports pay governance .
Overall: Board leadership and active committee roles are positives, but family ties and RPTs require continued robust Audit/Compensation Committee oversight and clear disclosures to mitigate perceived conflicts, especially amid financing structures that can dilute existing holders .