Joe Dumars
About Joe Dumars
Joe Dumars, age 61, has served as an independent director of Franklin BSP Realty Trust (FBRT) since 2023; he sits on the Audit Committee and the Nominating and Corporate Governance Committee . He is currently the NBA’s EVP and Head of Basketball Operations (since 2022), with prior senior roles at the Sacramento Kings and Detroit Pistons, bringing operational expertise, strategy development, and human capital management to the board . The board has affirmatively determined he is independent under NYSE standards, and all directors attended at least 75% of Board and committee meetings in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| National Basketball Association (NBA) | EVP & Head of Basketball Operations | 2022–Present | Senior operations leader; oversees league basketball ops |
| Sacramento Kings (NBA) | Chief Strategy Officer | 2020–2022 | Strategy and organizational leadership |
| Independent Sports & Entertainment, LLC | President, Basketball Division | 2017–2019 | Led basketball division; corporate strategy and management |
| Detroit Pistons (NBA Franchise) | President of Basketball Operations | 1999–2014 | Executive oversight, team-building, talent strategy |
| Detroit Pistons | Professional Basketball Player | 1985–1999 | Six-time NBA All-Star; leadership and teamwork credentials |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| National Basketball Association (NBA) | EVP & Head of Basketball Operations | 2022–Present | Current external operating role; not a public company board |
Board Governance
- Independence and composition: 86% of nominees are independent; all three standing committees are 100% independent; FBRT has a Lead Independent Director with robust duties .
- Attendance and meetings: The Board met 5 times in 2024 and each director attended at least 75% of Board and committee meetings; executive sessions of independent directors occur at every regular meeting .
- Committee oversight: Audit oversees financial reporting and cybersecurity; Nominating & Corporate Governance reviews conflicts and related-party transactions; Compensation oversees executive pay and equity programs .
| Committee Assignments (as of Annual Meeting) | Member | Chair |
|---|---|---|
| Audit Committee | Joe Dumars | No |
| Nominating & Corporate Governance Committee | Joe Dumars | No |
| Compensation Committee | Not a member | — |
| Committee Meeting Counts (FY 2024) | Meetings |
|---|---|
| Audit Committee | 5 |
| Compensation Committee | 5 |
| Nominating & Corporate Governance Committee | 4 |
| Board of Directors | 5 |
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual Director Cash Retainer | $110,000 | Program term (baseline cash) |
| Committee Membership Fees | $10,000 per committee (member); $20,000 per chair | Dumars is a member of two committees (Audit; Nominating & Corporate Governance) |
| Lead Independent Director Supplemental Fee | $30,000 | Applies to Lead Independent Director (not Dumars) |
| Annual Equity Award (Directors) | $110,000 restricted shares | Vests on earlier of 1-year anniversary or next Annual Meeting |
| Director Compensation (2024) | Fees Paid in Cash | Stock Awards | Total |
|---|---|---|---|
| Joe Dumars | $130,000 | $110,000 | $240,000 |
| 2024 Director Equity Grant Detail | Grant Date | Fair Value | Per-Share Reference | Unvested as of 12/31/2024 |
|---|---|---|---|---|
| Annual grant (restricted stock) | May 31, 2024 | $85,000 | $12.47/share | 8,841 shares (total unvested from 2024 grants, per director) |
| Supplemental grant (restricted stock) | Aug 7, 2024 | $25,000 | $12.34/share | 8,841 shares (total unvested from 2024 grants, per director) |
Performance Compensation
| Feature | Terms | Notes |
|---|---|---|
| Director equity vesting | Time-based vesting on earlier of anniversary of grant or next Annual Meeting | No performance metrics disclosed for director awards |
No director performance metrics (e.g., TSR, DE, ESG goals) are tied to Dumars’ director compensation; awards are time-based restricted stock under the director plan .
Other Directorships & Interlocks
| Company | Role | Status |
|---|---|---|
| Public company boards | None disclosed in FBRT proxy | Biography lists operating roles; no public boards for Dumars |
| Shared directorships/interlocks (competitors/suppliers/customers) | None disclosed | Nominating & Corporate Governance oversees conflicts |
Expertise & Qualifications
- Executive leadership and strategy: EVP role at NBA; prior President of Basketball Operations at Detroit Pistons; expertise in corporate strategy and human capital management .
- Governance and oversight: Serves on Audit and Nominating & Corporate Governance Committees; board determined independent under NYSE standards .
- Skills relevance: FBRT emphasizes directors with strategy, operations, risk management, governance/regulatory, and marketing/communications experience—areas aligned with Dumars’ profile .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership (Common) | 16,571 shares; less than 1% of class |
| Unvested restricted shares (from 2024 grants) | 8,841 shares scheduled to vest May 28, 2025 |
| Director stock ownership guideline | ≥3x prior-year annual base cash retainer; achieve within 5 years of board appointment; maintain thereafter |
| Compliance status (directors) | All non-management directors in compliance or on track as of Dec 31, 2024 |
| Hedging/pledging policy | Hedging prohibited; pledging prohibited unless pre-approved by Audit Committee |
Governance Assessment
- Committee roles and independence: Dumars strengthens independent oversight by serving on Audit and Nominating & Corporate Governance Committees; all committees are fully independent, with clear charters and risk oversight responsibilities .
- Attendance and engagement: Board met 5 times in 2024; each director attended at least 75% of Board and applicable committee meetings, supporting baseline engagement expectations .
- Compensation alignment: Director pay mixes cash (retainer + committee fees) with time-vested equity; no performance metrics for directors, but mandatory stock ownership guidelines reinforce alignment; Dumars’ 2024 package totaled $240,000 with $110,000 equity .
- Conflicts and related-party oversight: As an externally managed REIT, FBRT faces structural conflicts with its Advisor; the Nominating & Corporate Governance Committee reviews and approves related-party transactions and quarterly assesses Advisor fees and services, mitigating conflicts risk; no Dumars-specific related-party transactions disclosed .
- Risk indicators and policies: Robust Code of Ethics and Insider Trading Policy; prohibitions on hedging and pledging (except with Audit Committee approval); active cybersecurity oversight within Audit Committee; no material legal or regulatory proceedings reported .
RED FLAGS
- None disclosed specific to Dumars: no related-party transactions, pledging, or attendance shortfalls noted; structural advisor conflicts exist at the company level but are subject to committee oversight and policy controls .