Anthony Parker
About Anthony Parker
Anthony W. Parker (age 79) has been an independent director of Gladstone Commercial since August 2003; he is a tax attorney by training and founder/Chairman of Parker Tide Corp., a federal government contractor. He holds a J.D. and a Masters in Tax Law from Georgetown Law Center and an undergraduate degree from Harvard College . Parker is recognized for expertise in corporate taxation and chairs Gladstone Commercial’s Audit Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Small Business Administration | Executive Assistant to the Administrator | 1973–1977 | Federal policy exposure |
| Verner, Liipfert, Bernhard & McPherson | Corporate & Tax Lawyer | 1980–1983 | Corporate tax practice |
| Private Practice (Corporate/Tax Law) | Attorney | 1983–1992 | Corporate tax expertise |
| Capitol Resource Funding, Inc. | Chairman | 1992–1996 | Commercial finance leadership |
| Parker Tide Corp. | Founder; Chairman of the Board | 1997–present | Federal government contracting operations |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Gladstone Capital (GLAD) | Director | Since Aug 2001 | Serves on GLAD audit committee; Board determined simultaneous service does not impair effectiveness |
| Gladstone Investment (GAIN) | Director | Since Jun 2005 | Serves on GAIN audit committee; independence affirmed |
| Gladstone Land (LAND) | Director | Since Jan 2013 | Serves on LAND audit committee; independence affirmed |
| Naval Academy Sailing Foundation | President | Not stated | Non-profit leadership |
| Bishop Walker School (Episcopal Diocese of Washington) | Former Director | Not stated | Education-focused non-profit |
| U.S. Naval Academy Board of Visitors | Former Vice Chairman and Member | Not stated | Governance role |
Board Governance
- Independence: Board affirmatively determined Parker is independent under Nasdaq listing standards .
- Board/committee attendance: The Board met 4 times in FY2024; each director attended at least 75% of Board and committee meetings; independent directors held 4 executive sessions .
- Annual meeting attendance: None of the directors attended the 2024 Annual Meeting of Stockholders (engagement signal) .
- Lead Independent Director: Walter H. Wilkinson, Jr. serves as Lead Director (presides over independent executive sessions) .
- Board leadership: Combined CEO/Chairman with independent Lead Director; the Board believes this structure balances strategy and oversight .
| Committee | Parker’s Role | Meetings in 2024 |
|---|---|---|
| Audit | Chair | 8 |
| Valuation | Member | 4 |
| Executive | Member (with CEO) | Not listed (no meetings disclosed) |
| Offering | Member (with CEO; independents as alternates) | Not listed (no meetings disclosed) |
| Compensation | Alternate Member | 4 (committee meetings) |
| Ethics, Nominating & Corporate Governance | Alternate Member | 4 (committee meetings) |
The Board found Parker and other audit committee members to be “audit committee financial experts” and financially literate under SEC and Nasdaq rules .
Fixed Compensation
| Year | Fees Earned or Paid in Cash | Total |
|---|---|---|
| 2024 | $44,500 | $44,000 |
- Structure and rates for independent directors (FY2024):
- Annual Board retainer: $25,000
- Meeting fee: $1,000 per Board meeting; $1,000 per committee meeting held on a day other than a full Board meeting
- Committee chair fees: Audit Chair $7,500; Valuation Chair $3,000; Compensation Chair $3,000; Ethics Chair $1,000
- Reimbursement of reasonable out-of-pocket expenses for Board service
Note: The proxy table shows a discrepancy for Parker between “Fees Earned or Paid in Cash” ($44,500) and “Total” ($44,000); no explanation is provided in the filing .
Performance Compensation
| Performance-linked Compensation Metric | Disclosure Status |
|---|---|
| Equity awards (RSUs/PSUs), Options | Not disclosed for directors; director compensation section lists cash fees only |
| Bonus/short-term incentives | Not applicable to directors; Company discloses no salaries/bonuses as it is externally managed (applies to executives) |
| Performance metrics (TSR, FFO, ESG) tied to director pay | Not disclosed |
As an externally managed REIT with no employees, the Company does not run a traditional say-on-pay process; no Say-On-Pay vote is required or provided .
Other Directorships & Interlocks
| Company | Role | Interlock/Committee |
|---|---|---|
| Gladstone Capital (GLAD) | Director | Audit committee member; simultaneous service noted by Board |
| Gladstone Investment (GAIN) | Director | Audit committee member; simultaneous service noted by Board |
| Gladstone Land (LAND) | Director | Audit committee member; simultaneous service noted by Board |
Board concluded simultaneous service across Gladstone funds does not impair independence or effectiveness on Gladstone Commercial’s audit committee .
Expertise & Qualifications
- Corporate taxation expert; extensive tax law practice and commercial finance leadership .
- Founder/Chairman of a federal government contracting firm (Parker Tide), providing mission-critical solutions to U.S. agencies .
- Education: J.D. and Masters in Tax Law (Georgetown Law Center); undergraduate degree (Harvard College) .
- Selected for Audit Committee Chair based on corporate tax expertise and financial acumen .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Anthony W. Parker | 42,206 | <1% (“*”) | No pledging disclosed for Parker; pledge noted for a different director (M. English: 1,761 shares) |
- Shares outstanding used for percentage calculations: 44,192,741 (as of Feb 26, 2025) .
- Insider Trading Policy prohibits trading while in possession of MNPI and prohibits short sales, options, warrants, convertible securities, appreciation rights, or other derivatives to take short positions; pre-clearance required .
Governance Assessment
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Strengths:
- Independent director with deep corporate tax expertise; chairs Audit Committee and serves on valuation/executive/offering committees—signals strong financial oversight .
- Board determined Parker is an audit committee financial expert; independence affirmed .
- Attendance: Board reports 75%+ attendance for all directors; independent directors held four executive sessions—supports board effectiveness .
-
Potential risks/RED FLAGS:
- External management and affiliate transactions (Advisory/Administration fees, dealer-manager fees to Gladstone Securities; termination fee of 2x average annual base + incentive fees on no-cause termination) create structural conflicts; heavy oversight reliance on independent directors and committee processes .
- Simultaneous audit committee service across multiple Gladstone funds may raise workload/conflict concerns, though the Board concluded no impairment .
- No directors attended the 2024 Annual Meeting of Stockholders—engagement optics concern .
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Mitigations and governance policies:
- Conflict of Interest Policy requires majority approval by disinterested directors for transactions involving affiliates; outlines prohibited transactions without approval .
- Ethics Committee oversees independence and potential conflicts; Parker serves as an alternate member .
- Audit Committee pre-approval of auditor services; audit fees disclosed and oversight documented .
Overall: Parker’s long tenure, audit chair role, and tax expertise are positives for financial oversight. The externally managed structure and affiliate transactions are inherent REIT-specific governance risks; Board-level policies and independent committees (with Parker’s leadership) are key mitigants, but investors should monitor committee workload and engagement signals (e.g., annual meeting attendance) .