Claude Demby
About Claude Demby
Claude Demby, 60, has served as an independent director of Eos Energy Enterprises since 2021. He is a seasoned operator with executive leadership spanning automotive, aerospace, and materials technology, including President of Cree LED (2018–2022), M&A leadership and SVP/GM roles at Cree Inc., CEO/Director at Noel Group, and President/COO at L&L Products. He holds a BS in Chemical Engineering from the University of Delaware and an MBA from Rensselaer Polytechnic Institute . The Eos Board determined Mr. Demby is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cree LED | President | 2018–2022 | Led turnaround and growth; global footprint across 13 locations serving 25k customers |
| Cree Inc. | M&A Lead; SVP/GM, Semiconductor Materials | Pre-2018 (prior to LED presidency) | Built M&A growth platform; restructured materials/chips business for accelerated growth |
| Noel Group | CEO & Director | Prior to Cree | Global turnaround of synthetic materials businesses; improved financial health and shareholder value |
| L&L Products | President & COO | Prior to Noel Group | Led one of the fastest growth periods; expanded operations globally |
| Procter & Gamble; GE | Engineering roles | Early career | Technical foundation in manufacturing and materials |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Brown Capital Management Mutual Fund Trust | Director; Chair, Nominating & Governance Committee | Current | Mutual fund trust governance leadership |
| Piedmont Lithium (NASDAQ: PLL) | Director; Chair, Leadership & Compensation; Member, Nominating & Governance | Current (roles as disclosed in 2025) | Clean energy company; prior disclosure noted Audit Committee membership in 2024 proxy |
| Federal Reserve Bank of Richmond, Charlotte Branch | Director; Chairman (period within tenure) | 2012–2017 | Regional economic oversight and governance |
Board Governance
- Independence and leadership: The Board is majority independent; Mr. Demby is among ten independent directors. Chair of the Board is independent; independent directors meet in executive session at least twice annually .
- Committee assignments (2024 service year): Audit Committee member; Nominating & Corporate Governance Committee member; not on the Leadership Development & Compensation Committee .
- Meeting cadence and attendance: In 2024 the Board met 26 times; attendance across Board/committees was 81%, and all directors attended the 2024 annual meeting. In 2023 the Board met 13 times; attendance was 95%, and all directors attended that annual meeting .
| Committee | Role | Chair? | Meetings in 2024 |
|---|---|---|---|
| Audit | Member | No | 4 |
| Nominating & Corporate Governance | Member | No | 6 |
| Leadership Development & Compensation | Not a member | — | 5 |
Related-party oversight: The Nominating & Corporate Governance Committee reviews related person transactions and conflicts of interest; it also oversees ESG and coordinates Board/committee self-evaluations .
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $25,000 | $25,000 |
| Stock Awards ($) | $75,000 | $137,368 |
| Option Awards ($) | $75,138 | — |
| Total ($) | $175,138 | $162,368 |
- Director Compensation Policy: Annual cash retainer $25,000; equity retainer $150,000. In 2023 the $150,000 equity retainer was split between RSUs and stock options; beginning with 2024 it was delivered entirely as RSUs (based on 10-day VWAP) with vesting on the earlier of one year or immediately prior to the next annual meeting; accelerated vesting upon a change in control .
- Chairperson Grants: Board/Audit Chair $50,000; Compensation/Nominating Chairs $25,000; in 2024 these were RSUs only .
Performance Compensation
| Element | FY 2023 | FY 2024 |
|---|---|---|
| Equity Retainer Structure | RSUs + Options (time-based vesting) | RSUs only (time-based vesting) |
| Grant Date (service year awards) | May 19, 2022 for 2022 cycle; 2023 grants reflected in table | July 25, 2024 (Equity Retainers and Chairperson Grants) |
| Vesting Triggers | Earlier of 1-year from grant or pre-next annual meeting; accelerated on change-in-control | Same; accelerated on change-in-control |
| Cash-Settled RSUs Elected (units) | Not disclosed | 31,579 units (portion of award elected cash settlement) |
| Options Outstanding (as of year-end) | 231,175 | 231,175 |
No performance-based metrics are tied to non-employee director compensation; awards are time-based RSUs (and historically options), with anti-hedging/pledging, no repricing without shareholder approval, and clawback applicability under the 2020/Amended 2020 Plan .
Other Directorships & Interlocks
| Company | Relationship to EOSE | Risk Notes |
|---|---|---|
| Piedmont Lithium (PLL) | Clean energy/lithium supply chain adjacency | Monitor for any future transactions; none disclosed as related-party with Mr. Demby at appointment |
| Brown Capital Mgmt Mutual Fund Trust | Investment management oversight | Governance-only; no operating interlock with EOSE |
| Federal Reserve Bank of Richmond (Charlotte Branch) | Public service, macro policy | No commercial interlock |
Expertise & Qualifications
- Global operations and manufacturing leadership across automotive, aerospace, LED and materials technology, with significant turnaround experience .
- M&A strategy and execution, including platform expansion into power, communications, and infrastructure sectors .
- Board governance experience as chair across committees externally; ESG oversight background via Nominating & Governance responsibilities .
- Education: BS Chemical Engineering (University of Delaware), MBA (Rensselaer Polytechnic Institute) .
Equity Ownership
| Metric | As of Mar 1, 2023 | As of Mar 1, 2024 | As of Mar 1, 2025 |
|---|---|---|---|
| Beneficial Ownership (shares) | 32,373 | 325,515 | 325,515 |
| Ownership % of Outstanding | <1% (on 88,854,807 shares) | <1% (on 202,776,151 shares) | <1% (on 226,599,297 shares) |
| RSUs Outstanding (units) | 32,328 (as of 12/31/2023) | 78,947 (as of 12/31/2024) | — |
| Options Outstanding (units) | 231,175 (as of 12/31/2023) | 231,175 (as of 12/31/2024) | — |
| Hedging/Pledging | Prohibited by Insider Trading Policy | Prohibited | Prohibited |
Insider trades: Form 4 transactions were not available in the provided document set; proxies disclose beneficial ownership and award balances. Item 5.02 at appointment confirmed no related-party transactions requiring disclosure under Reg S-K 404(a) .
Governance Assessment
-
Strengths
- Independence, Audit Committee membership, and governance/ESG oversight experience support Board effectiveness .
- Compensation governance features: no option/SAR repricing without shareholder approval; clawback applicability; no excise tax gross-ups; robust transfer restrictions; anti-hedging/pledging policy .
- External chair roles (PLL, Brown Capital) indicate deep governance expertise; operational background aligns with Eos’s manufacturing/supply chain needs .
-
Watch items
- Attendance: Overall Board/committee attendance declined to 81% in 2024 from 95% in 2023; individual director attendance not disclosed. Increased meeting load (26 in 2024) may indicate execution pressure; monitor Mr. Demby’s engagement via future proxies .
- Alignment: Equity retainer moved to RSUs-only in 2024 with optional cash settlement for a portion; Mr. Demby elected cash settlement on 31,579 RSUs (reduces pure equity exposure). Ownership remains <1%; consider whether long-term equity accumulation increases alignment over time .
- Interlocks: PLL board role is adjacent to energy storage/lithium supply chain; no related-party transactions disclosed, but continue oversight for potential conflicts if Eos engages PLL or affiliates .
-
RED FLAGS
- None disclosed regarding related-party transactions for Mr. Demby at appointment .
- No hedging/pledging permitted—mitigates a common red flag .