David Blundin
EverQuoteAbout David Blundin
David Blundin (age 58) is EverQuote’s co‑founder and Chairman since August 2008. He holds an S.B. in Computer Science from MIT (AI Lab thesis “Neural Network Simulations on a Connection Machine”) and has founded/co‑founded multiple software and internet companies. He is not an independent director under Nasdaq rules and has no board committee memberships; his tenure on the EVER board began in 2008 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Link Ventures LLLP | Founder & Managing Partner | Since Jan 2006 | Controls affiliate network doing marketing/data services with EVER |
| Vestigo Ventures LLC | Co‑Founder & Managing Partner | Since Jan 2016 | Venture investments; tech/fintech exposure |
| Vestmark, Inc. | Chairman (CEO 2001–2008) | Chairman ongoing; CEO 2001–2008 | Portfolio management solutions; industry relationships |
| Cogo Labs, Inc. | Co‑Founder & Chairman; CEO until Feb 2017 | Since Jun 2005 | Venture studio; data science; Link Ventures subsidiary ties |
| DataSage, Inc. | Founder, CEO & Chairman | 1997–2000 | Neural networks for analytics; sold to Vignette |
| Vignette Corporation | Chief Technologist | 2000–2002 | Post‑acquisition role |
| Cirrus Recognition Systems | President & CEO | Pre‑1997 | Early ML commercialization |
| Autotegrity, CourseAdvisor (and others) | Founder/Co‑Founder | Since 2002 | Data analytics/online marketing ventures |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Link Ventures LLLP | Managing Partner | Since 2006 | Parent of affiliates transacting with EVER |
| Vestigo Ventures LLC | Managing Partner | Since 2016 | Venture/board network |
| Vestmark, Inc. | Chairman | Ongoing | Interlocks with EVER director John Shields (Vestmark director) |
| Cogo Labs, Inc. | Chairman | Ongoing | Interlocks with EVER director John Shields (Cogo director) |
Board Governance
- Independence and committees: Blundin is non‑independent; he holds no committee seats. Independent directors: Bansal, Deninger, Neble, Shields, Wilczek; Audit Committee: Deninger, Neble (Chair, financial expert), Shields; Compensation Committee: Bansal, Deninger, Wilczek (Chair) .
- Leadership structure: Chair/CEO roles are separated; Blundin as Chair provides oversight while the CEO runs operations .
- Attendance and engagement: The board met 6 times in 2024; each director attended at least 75% of board/committee meetings during their service; all directors then serving attended the 2024 annual meeting .
- Controlled company: EVER is a Nasdaq “controlled company” due to >50% voting power held by Link Ventures affiliates; exemptions utilized (no nominations committee; compensation committee not required to be entirely independent historically) .
- Executive sessions: Independent directors meet in executive session at least semi‑annually per governance guidelines .
- Election results (2025): Blundin was re‑elected with 46,768,497 “For”, 11,586,565 “Withheld”, 5,236,920 broker non‑votes .
Fixed Compensation
Director program applies only to non‑employee directors not affiliated with Link Ventures; it provides annual cash retainers and RSUs.
| Position | Annual Cash Retainer |
|---|---|
| Board member | $30,000 |
| Audit Committee Chair | $20,000 |
| Audit Committee Member | $10,000 |
| Compensation Committee Chair | $12,000 |
| Compensation Committee Member | $5,000 |
2024 Director compensation (non‑employee, non‑Link affiliate):
| Name | Cash Fees ($) | Stock Awards ($) | Options ($) | Total ($) |
|---|---|---|---|---|
| David Blundin | — | — | — | — |
| Sanju Bansal | 40,000 | 124,999 | — | 164,999 |
| Paul Deninger | 45,000 | 124,999 | — | 169,999 |
| George Neble | 50,000 | 124,999 | — | 174,999 |
| John Shields | 40,000 | 124,999 | — | 164,999 |
| Mira Wilczek | 42,000 | 201,994 | — | 243,994 |
- Annual director equity: Each eligible non‑Link‑affiliated director receives RSUs valued at $125,000, vesting 100% on the earlier of one year or the next annual meeting; full acceleration upon change‑in‑control .
Performance Compensation
Director equity is time‑based RSUs for non‑Link‑affiliated directors; no performance metrics disclosed for director awards.
| Item | Terms |
|---|---|
| Annual RSU grant (eligible directors) | $125,000 grant‑date value; 100% vest at earlier of 1‑year or next AGM; accelerates on change‑in‑control |
| Performance metrics | None disclosed for director equity grants |
Other Directorships & Interlocks
- Interlocks within EVER’s board and Blundin‑affiliated entities:
- John Shields: Director and Audit Committee member at Vestmark, Inc.; Director at Cogo Labs, Inc. (both Blundin‑linked) .
- Mira Wilczek: Advisor to Link Ventures; former CEO of Cogo Labs .
- No public company directorships for Blundin disclosed in the proxy beyond EVER .
Expertise & Qualifications
- Deep technology and data science background; multiple ML/AI ventures; MIT CS degree and AI Lab research .
- Extensive board/entrepreneurial experience in technology, online marketing, and portfolio management solutions .
Equity Ownership
Beneficial ownership as of April 8, 2025:
| Holder | Class A Shares | % of Class A | Class B Shares | % of Class B | Total Voting Power |
|---|---|---|---|---|---|
| David Blundin (incl. affiliated entities) | 4,071,754 | 12.5% | 3,556,462 | 98.7% | 57.8% |
| Breakdown (Blundin/affiliates) | 84,781 (direct), 95,451 (Recognition Capital LLC), 3,498,154 (Link Ventures LLLP), 393,268 (Cogo Fund 2020 LLC), 100 (son) | — | 3,556,462 (Link Ventures LLLP) | — | — |
- Share pledging/hedging: Hedging by directors is prohibited under EVER’s insider trading policy; no pledging disclosures specific to Blundin provided .
- Section 16 reporting: One late Form 4 reported (distribution of 27,526 Class A shares by Cogo Fund 2020 LLC to a member on March 7, 2024; filed March 13, 2024) .
Insider Trades
| Date (Transaction) | Form | Details | Shares | Entity |
|---|---|---|---|---|
| Mar 7, 2024 (distribution; filed Mar 13, 2024) | Form 4 | Distribution by Cogo Fund 2020 LLC to a member | 27,526 | Cogo Fund 2020 LLC (Blundin‑controlled) |
Governance Assessment
- Alignment and control: Blundin’s significant ownership and control of Class B shares confer majority voting power (57.8%), classifying EVER as a “controlled company” and limiting minority shareholders’ influence on director nominations and compensation oversight .
- RED FLAG — Related‑party transactions: EVER paid approximately $12.3 million in 2024 to Link Ventures and affiliates (including Cogo Labs and others) for marketing/data services; while audit committee policies govern such transactions, the scale and recurring nature pose potential conflicts given Blundin’s control of these entities .
- Board independence safeguards: Audit and Compensation Committees are fully independent with experienced chairs (Neble: audit financial expert; Wilczek: compensation), and Blundin is not on these committees—mitigating direct compensation/financial oversight conflicts .
- Director compensation: Blundin receives no director retainers or RSUs under the non‑Link‑affiliated program, but his economic alignment comes from substantial ownership and control rather than board pay .
- Attendance/engagement: Board met 6 times; directors met attendance thresholds; independent executive sessions semi‑annually—supporting baseline board effectiveness .
- Shareholder voting signal: 2025 re‑election saw notable withhold votes (11.6M) for Blundin relative to peers—indicating some investor concerns around governance/control dynamics .
Overall: Blundin’s deep domain expertise and long‑tenured leadership are positives; however, concentrated voting control, extensive related‑party transactions with Link Ventures entities, and multiple interlocks with his affiliates represent governance risks that investors should monitor for board independence, fair dealing, and minority shareholder protections .