Lev Peker - Director | FFIE (FFIE) Executive Profile & Compensation

About Lev Peker

Lev Peker (age 42 as of June 21, 2024) is an independent director of Faraday Future Intelligent Electric Inc. (FFIE), appointed August 4, 2023. He is a CPA with turnaround experience in automotive and retail e‑commerce; he earned an MBA from UCLA Anderson and a BS in Accounting from USC Marshall. He currently serves as CEO of ID Auto, Inc. (formerly PARTS iD, Inc.) since April 2023; prior roles include CEO of CarLotz (Apr–Dec 2022) and CEO of CarParts.com (2019–2022), where the company more than doubled revenue, nearly quadrupled EBITDA, and increased market cap by 500% during his tenure. The Board has affirmatively determined he is independent.

Past Roles

Organization	Role	Tenure	Committees/Impact
CarParts.com, Inc. (Nasdaq: PRTS)	Chief Executive Officer	2019–2022	Oversaw >2x annual revenue, ~4x EBITDA improvement, and >500% increase in market cap
CarLotz, Inc. (Nasdaq: LOTZ; merged with Shift)	Chief Executive Officer	Apr 2022–Dec 2022	Led nationwide used car consignment retailer prior to merger
Adorama; Sears Holdings; US Auto Parts	Various executive roles	Not disclosed	Senior operating/finance roles (details not specified in proxy)

External Roles

Organization	Role	Tenure	Committees/Impact
ID Auto, Inc. (formerly PARTS iD, Inc., formerly NYSE: ID)	Chief Executive Officer	Since Apr 2023	Leads a digital commerce platform for the automotive aftermarket

Board Governance

Committee assignments (as of June 21, 2024): Audit Committee (Chair), Compensation Committee (Member). He is designated an “audit committee financial expert” and is independent under SEC/Nasdaq rules.
Meetings/attendance: Board held 38 meetings in 2023; Audit Committee held 17; Compensation Committee held 15. Each director attended at least 75% of the aggregate Board/committee meetings during their service period.
Independence: Board affirmed Peker’s independence; independent directors meet in regular executive sessions.
Risk oversight: Audit Committee oversees financial reporting, internal controls, related-person transactions, and cybersecurity; Compensation Committee oversees compensation risk; Nominating & Corporate Governance Committee oversees governance/ESG.

Fixed Compensation

Director compensation policy (non‑employee directors):
- Annual cash retainer: $50,000.
- Committee member retainers: Audit $10,000; Compensation $6,250; Nominating & Corporate Governance $5,000; Finance & Investments $5,000.
- Chair premiums: Audit $15,000; Compensation $10,000; Nominating & Corporate Governance $7,500; Finance & Investments $7,500; Executive Chairperson $30,000; Lead Independent Director $20,000.
- Additional meeting fees: $1,500 per meeting above 15 per year (Aug 1–Jul 31 measurement), up to $20,000 per calendar month.

Director 2023 actuals:

Director	Fees Earned or Paid in Cash ($)	Total ($)
Lev Peker	14,712	56,630

Performance Compensation

Director equity program: Annual RSU award with $150,000 grant date fair value (time‑based; no performance metrics disclosed for director equity).
2023 actual equity:

Director	Stock Awards ($)	Equity Type	Notes
Lev Peker	41,918	Time‑based RSUs	Values per ASC 718; see 2023 Form 10‑K/A assumptions

Performance metrics for director awards: none disclosed (director equity is time‑based RSUs per policy).

Other Directorships & Interlocks

Compensation Committee interlocks: None. No FF executive officer serves, or since July 2021 has served, on the board or compensation committee of an entity with an executive serving on FF’s Board/Compensation Committee.

Expertise & Qualifications

Financial expertise: Audit Committee Chair; designated “audit committee financial expert.”
Credentials: CPA; MBA (UCLA Anderson); BS Accounting (USC Marshall).
Sector experience: Automotive/retail e‑commerce operator with turnaround track record (CarParts.com, CarLotz, ID Auto).

Equity Ownership

Metric	As of Dec 31, 2023	As of Jun 18, 2024	As of Jan 28, 2025
Shares beneficially owned (#)	—	10,125	22,811
Ownership (%)	—	<1%	<1%
Outstanding unvested RSUs (#)	10,125	—	—
Hedging/pledging policy	Prohibited for directors (short sales, derivatives, pledging, margin, hedging/monetization)	Prohibited	Prohibited
Stock ownership guideline	≥3x annual cash retainers for non‑employee directors; 5‑year phase‑in; as of record date, covered directors were in compliance or within phase‑in period	≥3x retainer; compliance/phase‑in	≥3x retainer; compliance/phase‑in

Governance Assessment

Strengths
- Independent director; Audit Chair and “financial expert,” with active committee workload (Audit 17 meetings; Compensation 15), supporting oversight of controls, financial reporting, and related‑party reviews.
- Equity‑aligned compensation structure with RSUs; hedging/pledging prohibited; ownership guideline requires ≥3x retainer, with compliance or within phase‑in as of record date.
- Attendance: met ≥75% threshold during 2023 as did all directors.
Watch items / potential red flags
- Shareholder influence: FF Top retains extensive Board and committee nomination rights tied to ownership/voting power, potentially constraining board independence dynamics despite the current independence determinations.
- Equity plan governance: 2021 Plan expressly permits repricing of options/SARs without shareholder approval—a shareholder‑unfriendly feature raising governance risk if used.
- High meeting cadence with additional per‑meeting fees above 15/year may create incentives around meeting frequency; Board met 38 times in 2023 (contextual, not necessarily problematic).
Contextual ownership alignment
- Beneficial ownership remains <1% with modest absolute share counts, though policy‑driven accumulation via RSUs and guideline compliance/phase‑in is in place.

Overall, Peker brings credible financial and automotive e‑commerce operating expertise as Audit Chair and an independent director, with solid attendance and compliance with alignment policies; the primary governance sensitivities relate to FF Top’s nomination rights and the equity plan’s repricing allowance.