Michael P. Shaunnessy
FULL HOUSE RESORTSAbout Michael P. Shaunnessy
Independent Director of Full House Resorts since July 2020; age 71. He serves as Audit Committee Chair and a member of the Compensation Committee; the Board has determined he is independent under Nasdaq rules and designated him an “audit committee financial expert.” A Certified Public Accountant with a bachelor’s in business administration from Lewis University and a master’s in accountancy from Northern Illinois University; brings 37 years of gaming/hospitality leadership, including CEO of Nevada Gold & Casinos, EVP Operations at MGM Resorts, VP Administration at Monarch Casino & Resort, and prior EVP/CFO of Full House (1998–2004; director 2001–2004) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Nevada Gold & Casinos, Inc. | President & CEO | Led “more than six years” until sale in 2019 | Led public casino operator through sale; operating/financial oversight |
| MGM Resorts International | EVP of Operations | 2005–2012 | COO/CFO overseeing Railroad Pass and Gold Strike operations |
| Monarch Casino & Resort, Inc. | VP of Administration | Not disclosed | Administration leadership in public casino operator |
| Full House Resorts, Inc. | EVP & CFO; Director | EVP/CFO 1998–2004; director 2001–2004 | Finance leadership; prior board experience |
External Roles
- No current public company directorships disclosed in the proxy biography; prior roles are executive positions (not board seats) at Nevada Gold & Casinos, MGM Resorts, and Monarch Casino & Resort .
Board Governance
| Committee | Role | 2024 Meetings | Notes |
|---|---|---|---|
| Audit | Chair | 5 | Independent; audit committee financial expert (SEC definition) |
| Compensation | Member | 2 | Committee fully independent; reviews executive/director comp |
- Independence: The Board determined Mr. Shaunnessy is independent (Nasdaq), and all audit/compensation/nom-gov committee members are independent; audit committee meets enhanced SEC independence standards .
- Attendance: In 2024, each director attended at least 75% of Board and committee meetings applicable to them; all directors attended the virtual annual meeting .
- Board leadership: Independent chairman (Dr. Braunlich); independent directors met in executive session once in 2024; retirement policy at age 75 .
Fixed Compensation
| Director Fee Schedule (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $50,000 | Paid quarterly in arrears |
| Audit Committee Chair fee | $17,500 | Paid quarterly in arrears |
| Compensation Committee Chair fee | $12,000 | Not applicable (he is not chair) |
| Nominating & Corporate Gov Chair fee | $10,000 | Not applicable |
| Compliance Committee Chair fee | $10,000 | Not applicable |
| Year | Fees Earned or Paid in Cash ($) | Total Compensation ($) |
|---|---|---|
| 2023 | $65,401 | $140,400 |
| 2024 | $67,500 | $142,500 |
Performance Compensation
| Year | Stock Awards (Grant-Date Fair Value, $) | Option Awards (Grant-Date Fair Value, $) |
|---|---|---|
| 2023 | $74,999 | $0 |
| 2024 | $75,000 | Not disclosed for directors (none reported) |
| Equity Vesting/Status | Shares | Vesting/Status Detail | Reference Date |
|---|---|---|---|
| Restricted stock (director grant) | 14,151 | Vests within 60 days of March 18, 2025 | As of March 18, 2025 |
| Stock options | 8,000 | Currently exercisable (outstanding) | As of March 18, 2025 |
- Director equity structure: Annual grant of common stock approx $75,000; no director performance metrics disclosed tied to these grants .
- Company-wide clawbacks: Clawback policy applies to cash and stock awards; 2025 Equity Incentive Plan embeds clawback/recoupment and prohibits repricing/exchanges without stockholder approval .
Other Directorships & Interlocks
- Compensation committee interlocks: None in 2024; Mr. Shaunnessy was formerly an officer (EVP/CFO 1998–2004) but is not an employee now .
- Related-party transactions: None in 2023 or 2024; audit committee approves any related party transactions; directors must recuse from conflicts .
Expertise & Qualifications
- CPA; designated audit committee financial expert .
- Degrees: B.S. in Business Administration (Lewis University); M.S. in Accountancy (Northern Illinois University) .
- 37 years in gaming/hospitality; prior C-suite operating and financial leadership at public casino operators .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned | 65,902 |
| Percent of class | * (<1%) |
| Breakdown | Includes 14,151 restricted shares vesting within 60 days and 8,000 options currently exercisable |
- Stock ownership guidelines: Independent directors required to hold at least 2x annual cash retainer; calculation includes vested equity and in-the-money vested options .
- Hedging/margin/pledging: Company prohibits hedging, margin purchases, and pledging of securities by directors/officers/insiders .
Governance Assessment
- Strengths: Independent audit chair with CPA background and SEC “financial expert” designation; active committee engagement (Audit: 5 meetings; Compensation: 2); firm-wide clawback and anti-repricing protections; prohibition on hedging/margin/pledging; no related-party transactions disclosed in 2023–2024 .
- Alignment: Regular equity grants and stock ownership guidelines support alignment; beneficial ownership shows ongoing stake with vested options/restricted stock .
- Watch items: Prior CFO/board service at FLL (1998–2004, 2001–2004) is historical but worth monitoring for perceived independence; retirement policy at 75 implies potential board turnover in medium term (he is 71) .
- Attendance/engagement: Directors met attendance thresholds; independent directors held one executive session in 2024—investors may prefer more frequent executive sessions as the company scales .