Tricia Glynn
About Tricia Glynn
Managing Partner at Advent International; independent Class III director at First Watch Restaurant Group, Inc. since August 2017. Age 44; tenure on FWRG board runs through the 2027 Annual Meeting. The Board has affirmatively determined she is independent under Nasdaq rules despite employment at Advent, FWRG’s largest stockholder . Current public governance credentials include service on boards such as Olaplex, and prior public company board experience at lululemon athletica and Burlington Stores .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Advent International | Managing Partner (formerly Managing Director) | Managing Partner since Jan 2023; MD Oct 2016–Dec 2022 | Private equity leadership; consumer-focused investments |
| Bain Capital Private Equity | Principal | Aug 2004–Jul 2016 | Investment execution, portfolio governance |
| lululemon athletica inc. | Director | Aug 2017–Jun 2021 | Board oversight; consumer brand growth |
| Burlington Stores, Inc. | Director | Aug 2012–Jun 2018 | Board oversight; retail operations |
| SavageXFenty, Inc. | Director | May 2021–Dec 2022 | Brand scaling; DTC governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Olaplex, Inc. | Director | Since Jan 2020 | Public company |
| Orveon, Inc. | Director | Since Dec 2021 | Beauty brands platform |
| Sauer Brands Inc. | Director | Since Feb 2025 | Food/CPG portfolio company |
| Harvard Management Company | Board Member | Not disclosed | Endowment oversight |
Board Governance
- Class and term: Class III director; current term expires at the 2027 Annual Meeting .
- Independence: Board determined independence for Glynn despite Advent employment; same determination for Advent operating partners Alvarez and Kussell .
- Committee memberships:
- Compensation Committee member; committee comprised of Alvarez, Fleisher, Glynn, Lilak; Chair: Lilak; held 4 meetings and 3 actions by written consent in fiscal 2024 .
- Attendance: Board held 5 meetings in fiscal 2024; each director attended at least 75% of Board and applicable committee meetings .
- Board leadership: Independent Chair (Ralph Alvarez); CEO and Chair roles separated; robust lead-independent director framework contemplated if roles combine in future .
- Risk oversight: Audit oversees financial/cyber risk; Compensation oversees compensation risk and succession; Nominating & Governance oversees governance and engagement .
- Policies: Anti-hedging/pledging restrictions via Insider Trading Policy ; Nasdaq-compliant Clawback Policy adopted .
- Compensation Committee interlocks: No interlocking relationships reported in fiscal 2024 .
Committee Assignments (FY2024)
| Committee | Role | FY2024 Meetings | Notes |
|---|---|---|---|
| Compensation | Member | 4 meetings; 3 written consents | All members independent; may retain independent advisors |
| Audit | — | 4 meetings; 1 written consent | Membership: Alvarez, Jemley (Chair), Solheim |
| Nominating & Corporate Governance | — | 3 meetings; 1 written consent | Membership: Alvarez, Britt (Chair), Paresky, Kussell |
Fixed Compensation
- As an Advent employee, Ms. Glynn does not participate in FWRG’s Non-Employee Director Compensation framework (cash retainers and RSUs are for directors who are not employees of the Company and not employees of Advent) .
- For context, the FY2025 framework for eligible non-Advent directors is as follows:
| Component | Amount | Citation |
|---|---|---|
| Base cash retainer | $80,000 | |
| Audit Committee member | $15,000 | |
| Audit Committee Chair | $30,000 | |
| Compensation Committee member | $12,500 | |
| Compensation Committee Chair | $25,000 | |
| Nominating & Governance member | $11,000 | |
| Nominating & Governance Chair | $22,000 | |
| Annual RSU grant (eligible non-Advent directors, FY2024 base increased in July 2024) | $140,000 (Chair +$60,000) |
Note: Ms. Glynn is excluded from the above framework due to Advent employment .
Performance Compensation
- No director performance-based compensation (e.g., PSU metrics) is disclosed for Ms. Glynn; the disclosed director equity for eligible non-Advent directors consists of time-based RSUs vesting on the first anniversary of grant .
Other Directorships & Interlocks
- Current: Olaplex, Orveon, Sauer Brands, Harvard Management Company .
- Prior: lululemon athletica, Burlington Stores, SavageXFenty .
- Interlocks/Conflicts: Advent is FWRG’s largest stockholder; Board considered and affirmed independence for Advent-affiliated directors (including Glynn). No related-party transactions >$120,000 disclosed for FY2024 .
Expertise & Qualifications
- Investment and consumer/retail operating experience from Bain Capital and Advent; extensive public company board leadership .
- Board’s skills matrix identifies broad governance, finance/accounting, M&A/business development, and executive management experience across directors; Glynn’s biography highlights management, investment, and leadership expertise .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Tricia Glynn | — | * (<1%) | Advent employee without voting/dispositive power over Advent-held shares |
| Advent International funds (aggregate) | 19,189,784 | 31.5% | Largest stockholder; detailed fund breakdown provided in proxy footnotes |
Outstanding shares as of Record Date: 60,968,674 .
Governance Assessment
- Strengths:
- Independence affirmed despite Advent affiliation; Compensation Committee composed entirely of independent directors; robust governance policies (anti-hedging/pledging, clawback) .
- Board/committee attendance threshold met; independent Chair structure supports oversight .
- No related-party transactions >$120,000 disclosed; clear related-person transaction policy .
- Watch items / potential conflicts:
- Advent’s significant ownership (31.5%) and multiple Advent-affiliated directors (Glynn, Alvarez, Kussell, Paresky) can concentrate influence; Board explicitly assessed and maintained independence, but investors should monitor committee decision-making (especially compensation and nominations) for potential alignment risks .
- As an Emerging Growth Company, FWRG is not required to hold say-on-pay votes, limiting an avenue for shareholder feedback on executive compensation practices .