Lauren Simmons
About Lauren Simmons
Lauren Simmons (age 29) has served as an independent director of Eureka Acquisition Corp (EURK) since July 2024. She is an equity trader by background with public-market and media experience; she holds a B.S. in Psychology from Kennesaw State University with concentrations in genetics and statistics. She currently also serves on the board of Oak Woods Acquisition Corporation (Nasdaq: OAKU), and previously served on the advisory board of Robinhood Markets, Inc. and the board of Consciously Unbiased .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rosenblatt Securities (NYSE floor) | Equity Trader | Began May 2017 | Built market relationships; recognized by media for impact in finance |
| Robinhood Markets, Inc. | Advisory Board Member (prior) | Not disclosed | Advisory capacity leveraging market expertise |
| Consciously Unbiased | Board Member (former) | Not disclosed | Advocacy and governance in DEI context |
| Media/Content (Bloomberg, CNBC, Yahoo Finance) | Financial Contributor/Host | Ongoing | Public financial commentary; brand partnerships (Ford, LinkedIn, etc.) |
External Roles
| Company | Listing | Role | Committees/Notes |
|---|---|---|---|
| Oak Woods Acquisition Corporation (OAKU) | Nasdaq | Director | Other SPAC board; potential overlap in deal sourcing |
Board Governance
- Committee memberships and chair roles:
- Audit Committee: Member; committee chaired by M. Anthony Wong; all members independent and financially literate per Nasdaq requirements .
- Compensation Committee: Member; committee chaired by Kevin McKenzie .
- Nominating Committee: Chair; responsible for director criteria, recruiting, and annual evaluation .
- Independence: The board determined Lauren Simmons is independent under Nasdaq and SEC rules .
- Years of service on EURK board: Since July 2024 .
- Attendance: Not disclosed; audit committee mandated to meet at least quarterly per the Articles .
- Related-party review: Audit Committee charged with ongoing review/approval of related-party transactions .
Fixed Compensation
| Component | Structure/Amount | Date/Terms | Notes |
|---|---|---|---|
| Annual cash retainer | $0 prior to business combination | Article 19.10 | No cash director pay before the initial business combination . |
| Committee/meeting fees | Not disclosed | N/A | No specific fees disclosed . |
| Founder Shares (Class B) | 10,000 shares | Transfer agreement dated June 27, 2024; Form 3 filed July 1, 2024 | Independent directors received 10,000 Founder Shares; Simmons holds 10,000 directly . |
| Cost basis paid by independent directors | ~$0.0145 per share | As disclosed | Approximate price paid for Founder Shares; would be worthless if no business combination . |
Performance Compensation
| Metric | Status | Notes |
|---|---|---|
| Equity awards tied to performance (RSUs/PSUs) | Not disclosed | No RSUs/PSUs disclosed for directors . |
| Options (strike/expiry/vesting) | Not disclosed | No option awards disclosed for directors . |
| Performance metrics (revenue, EBITDA, TSR, ESG) | Not disclosed | No director performance metrics disclosed . |
Founder Shares create deal-completion incentives: independent directors’ founder shares would be worthless if a business combination is not completed, a potential conflict typical in SPACs .
Other Directorships & Interlocks
| Organization | Role | Potential Interlock/Conflict Considerations |
|---|---|---|
| Oak Woods Acquisition Corporation (OAKU) | Director | Another SPAC mandates careful management of deal pipeline conflicts; EURK’s Articles renounce certain corporate opportunities and require conflict disclosures . |
| Robinhood Markets, Inc. (prior advisory) | Advisory Board Member | No current role disclosed; advisory background enhances market insight . |
| Consciously Unbiased (former) | Board Member | Governance/DEI focus; no transactional conflicts disclosed . |
Expertise & Qualifications
- Public markets and trading: Former equity trader on NYSE floor; regular financial media contributor .
- Network and brand leadership: Partnerships with Ford, LinkedIn, Express, Champs, Isagenix, Pure Leaf; public speaking at Aspen Ideas, Harvard; authored “Make Money Move” (HarperCollins) .
- Education: B.S. Psychology, Kennesaw State University; concentrations in genetics and statistics .
Equity Ownership
| Holder | Shares Beneficially Owned | Class | % of Outstanding Shares |
|---|---|---|---|
| Lauren Simmons | 10,000 | Class B (Founder Shares) | Less than 1% (table shows “—” or “*”) . |
- Outstanding shares basis: 7,645,500 Ordinary Shares (6,208,000 Class A; 1,437,500 Class B) at proxy date .
- Vested vs. unvested: Not disclosed; ownership reported as direct on Form 3 .
- Pledging/hedging: Not disclosed .
- Ownership alignment: Founder shares cost ~$0.0145 per share with full loss if no deal; strong incentive to complete a transaction, which may diverge from public shareholders’ risk/return preferences .
Insider Trades (Section 16)
| Form | Filing/Effective Date | Security | Amount | Ownership Form | Key Disclosure |
|---|---|---|---|---|---|
| Form 3 (Initial Statement) | Filed July 1, 2024 | Class B Ordinary Shares | 10,000 | Direct | Shares assigned immediately following effectiveness of S-1 via transfer agreement dated June 27, 2024 . |
Related Party & Conflict Framework
- Directors may vote on matters where they have an interest, provided material interests are disclosed; quorum and votes count with disclosed conflicts .
- Business combinations with affiliates are permissible but require an independent fairness opinion and approval by a majority of independent directors .
- Corporate opportunities: EURK’s Articles broadly renounce corporate opportunities for directors/officers and Investor Group-related persons (subject to fiduciary duties), elevating the need for robust disclosure and committee oversight .
- Audit Committee mandated to review related-party transactions and monitor IPO term compliance .
Governance Assessment
- Alignment/Effectiveness
- Positive: Simmons is independent and serves across all three key committees, chairing Nominating; committee charters and independence standards appear robust .
- Positive: Articles require fairness opinions and independent director approval for affiliate transactions; Audit Committee oversight of related-party transactions is codified .
- Conflicts & RED FLAGS
- RED FLAG: Founder share incentives (10,000 Class B at ~$0.0145/share) are contingent on completing a business combination; independent directors (including Simmons) have waived redemption and shares could become worthless absent a deal, potentially biasing toward consummation over liquidation .
- RED FLAG: Broad corporate opportunity renunciation increases reliance on committee processes to manage interlocks (e.g., Simmons’s OAKU role) and ensure deals are evaluated for EURK’s best interests .
- Process Risk: Directors and sponsor collectively controlled ~21.78% of shares at the record date and intended to vote in favor of amendments, which may entrench board preferences in extension/combination timing .
- Transparency
- Gaps: No disclosure of board attendance rates, meeting fees, or director equity vesting schedules; no performance-linked director compensation metrics .
Overall implication: Simmons’s independence and leadership on Nominating and participation on Audit and Compensation support board effectiveness. However, standard SPAC founder-share economics create completion incentives and potential conflicts—mitigated by fairness opinion requirements, independent approvals, and Audit Committee oversight. Active monitoring of related-party reviews, interlocks (with OAKU), and disclosure quality is advisable for investor confidence .