Elizabeth Frank
About Elizabeth Frank
Elizabeth Frank (age 55) is an independent director of FrontView REIT, Inc. (FVR) since 2024. She chairs the Nominating and Corporate Governance Committee and serves on the Audit Committee, where the Board determined she qualifies as an “audit committee financial expert” and is financially literate under NYSE standards. She is currently CEO of RealD (since February 2025) and previously held senior content and programming roles at AMC Entertainment; she holds an MBA from Harvard Business School and a BS from Lehigh University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AMC Entertainment Holdings, Inc. | EVP, Worldwide Programming and Chief Content Officer | 2012–2025 | Led programming strategy; earlier SVP Strategy & Strategic Partnerships (2010–2012) |
| Americares | Senior Vice President, Global Programs | 2006–2010 | Led global health programs |
| Time Warner | Vice President, Strategic Planning | 2003–2006 | Corporate strategy |
| McKinsey & Company | Consultant | 1994–2003 | Management consulting |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RealD | Chief Executive Officer | Feb 2025–present | CEO of global 3D cinema technology provider |
| Spirit Realty Capital, Inc. | Director | 2019–2024 | Chair, Nominating & Governance; Member, Audit Committee; left upon merger with Realty Income (2024) |
Board Governance
- Independence: The Board affirmed Elizabeth Frank is independent under NYSE rules; Audit, Compensation, and Nominating Committees are entirely independent .
- Committee assignments: Chair, Nominating & Corporate Governance; Member, Audit Committee; not on Compensation or Real Estate Investment Committees .
- Financial expertise: Audit Committee designated her an “audit committee financial expert” and financially literate .
- Attendance: Board held 2 meetings in 2024; all directors, including Frank, attended 100% of Board and relevant committee meetings .
- Executive sessions: Non‑employee directors meet regularly in executive session without management present .
Fixed Compensation
| Component | Amount | Timing/Terms | 2024 Actual | Notes |
|---|---|---|---|---|
| Annual cash retainer | $50,000 | For non-employee directors | $15,000 | Policy level; 2024 actual reflects partial year post-IPO |
| Nominating Chair retainer | $10,000 | Additional annual cash for committee chair | — | Applies going forward; chair role held by Frank |
| Meeting fees | None disclosed | — | — | Company reimburses reasonable expenses; no meeting fees disclosed |
| Total 2024 cash | — | — | $15,000 | Fees earned post-IPO |
Performance Compensation
| Award Type | Grant Date | Shares/Value | Vesting | Terms/Notes |
|---|---|---|---|---|
| Initial RSU grant (IPO-related) | Oct 4, 2024 | 2,369 RSUs; $45,011 grant-date fair value | Vests in full the day before first annual meeting (scheduled May 27, 2025 → vest on May 26, 2025) | Unvested director awards vest upon Change in Control; fair value per ASC 718 |
| Annual RSU grant | At each annual meeting starting 2025 | Value equal to $90,000 ÷ closing price on grant date | Vests on earlier of 1 year from grant or day before next eligible annual meeting | Subject to continuous service; subject to plan limits |
Performance metric framework for director compensation:
| Metric | Status |
|---|---|
| Financial/operational performance metrics (e.g., revenue, EBITDA, TSR) linked to director equity | Not disclosed; director RSUs are time-based (no performance metrics) |
Change-in-control provisions:
- Unvested director awards automatically vest upon a Change in Control for directors in continuous service immediately prior to the event .
Clawback policy:
- Company clawback applies to “covered executives” (executive officers) for erroneously awarded incentive compensation after accounting restatements; directors are not identified as covered executives in the policy .
Other Directorships & Interlocks
| Company | Relationship to FVR | Potential Interlock/Conflict |
|---|---|---|
| RealD (CEO) | Cinema technology provider; not a disclosed FVR customer/supplier | No related-party transactions disclosed with RealD; Board deems Frank independent |
| Spirit Realty Capital (former director) | Net lease REIT; merged into Realty Income in 2024 | Historical service; no FVR conflicts disclosed |
No related-party transactions were disclosed involving Elizabeth Frank; the Internalization and OP Unit issuances affected other directors/executives (Preston, Starr, Green) but not Frank .
Expertise & Qualifications
- Education: MBA, Harvard Business School; BS in Business Administration, Lehigh University .
- Domain expertise: Content programming and strategy (AMC), global health operations (Americares), corporate strategy (Time Warner), management consulting (McKinsey) .
- Governance qualifications: Chair experience (Nominating & Governance at Spirit); audit committee service; designated audit committee financial expert at FVR .
Equity Ownership
| Holder | Shares/Units | % of Common Shares Outstanding | Vested vs. Unvested | Pledged |
|---|---|---|---|---|
| Elizabeth Frank (beneficial ownership) | 2,369 | <1%; calculated ~0.0135% from 2,369 / 17,519,863 | Not broken out; 2,369 RSUs outstanding as of 12/31/2024; initial RSU vests May 26, 2025 | None; no director shares pledged (shares) (outstanding) (RSU count) (no pledging) (vesting schedule) |
Note: Beneficial ownership includes securities exercisable/vestable within 60 days; the initial RSU vest timing (May 26, 2025) falls within 60 days of April 3, 2025 record date .
Governance Assessment
- Strengths: Independent director; chairs Nominating; member of Audit; designated audit committee financial expert; 100% meeting attendance in 2024; independent committees; established clawback for executives supports governance rigor .
- Alignment: Holds initial RSUs with scheduled vesting, plus policy annual RSU grants; no pledging; ownership currently small relative to total shares outstanding but increasing via equity grants .
- Conflicts/Related-party risk: No related-party transactions disclosed for Frank; independence affirmed; outsourcing and internalization arrangements involve other insiders, not Frank .
- Capacity/engagement: Recent appointment as CEO of RealD may increase external time demands, but 2024 attendance was 100% and committee leadership suggests engagement; monitor ongoing attendance and committee workload .
Director Compensation (Detail)
| Year | Cash Fees ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 15,000 | 45,011 | 60,011 |
Director equity outstanding as of 12/31/2024:
| Director | RSUs Outstanding (#) |
|---|---|
| Elizabeth Frank | 2,369 |
Company director compensation policy (effective post-IPO):
- Annual cash retainer: $50,000; Chair retainers: Audit $15,000; Compensation $10,000; Nominating $10,000 .
- Annual RSU grant: $90,000 value at annual meeting; time-based vesting; change-in-control acceleration for unvested awards .
Section 16 compliance:
- Company reports indicate timely filings for Reporting Persons in 2024, with delinquencies noted for Preston, Perez, Green; none cited for Frank .
Say-on-Pay:
- As an emerging growth company, FVR is not required to hold say‑on‑pay votes currently .