Jeffrey Wright
About Jeffrey L. Wright
Independent director of Hawkins, Inc.; age 62; retired executive; director since 2009. Former CFO, EVP, and Director of G&K Services, with prior finance roles at BMC Industries and Arthur Andersen, bringing extensive public company finance and audit experience; designated an “audit committee financial expert.” Independence affirmed under Nasdaq rules; board held 5 meetings in fiscal 2025 and all directors met at least 75% attendance, with virtual attendance at the 2024 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| G&K Services, Inc. | CFO; EVP; Director; Treasurer & Secretary | 1999–2014 (CFO; EVP & Director 2009–2014; Treasurer & Secretary 1999–2003) | Led public company finance/audit; deep financial oversight |
| BMC Industries, Inc. | Treasurer; Controller | 1996–1999 | Corporate finance, controls |
| Employee Benefit Plans, Inc. | Various positions | 1993–1996 | Financial operations |
| Arthur Andersen & Co. | Employment | 1984–1993 | Audit and accounting |
External Roles
No current external public company directorships disclosed. The proxy notes public company board experience but does not name current boards.
Board Governance
- Independence: Independent director under Nasdaq listing standards.
- Committee assignments and chair roles:
- Audit Committee – Chair; 4 meetings in fiscal 2025; designated “audit committee financial expert.”
- Compensation Committee – Member; 4 meetings in fiscal 2025.
- Governance & Nominating Committee – Member; 4 meetings in fiscal 2025.
- Attendance: Board held 5 meetings in fiscal 2025; all directors attended at least 75% of Board and committee meetings; all directors attended the 2024 annual meeting virtually.
- Board leadership: Chair of the Board (James T. Thompson) is independent; CEO and Chair roles separated.
- Clawback and trading policies: Clawback compliant with Rule 10D-1; hedging prohibited; pledging/margin accounts prohibited.
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Annual cash retainer ($) | 50,000 | 70,000 |
| Committee membership fees ($) | 8,000 per committee; Wright served on Audit (Chair), Compensation (Member), Governance (Member) → $24,000 | 8,000 per committee; Wright served on Audit (Chair), Compensation (Member), Governance (Member) → $24,000 |
| Committee chair fee ($) | Audit Chair: $15,000 | Audit Chair: $15,000 |
| Fees earned or paid in cash ($) | 89,000 | 109,000 |
Compensation structure notes:
- Cash/equity mix stepped up YoY: retainer increased from $50k to $70k and annual equity grant value increased from $70k to $100k, aligning with market practice without introducing meeting fees.
Performance Compensation
Directors receive time-based restricted stock (no performance metrics or options).
| Grant Detail | FY 2024 | FY 2025 |
|---|---|---|
| Grant date | Aug 2, 2023 | Jul 31, 2024 |
| Shares granted | 1,521 | 962 |
| Grant-date fair value ($) | 69,966 | 99,952 |
| Vesting | One-year cliff; vests Aug 2, 2024 | One-year cliff; vests Jul 31, 2025 |
| Dividends eligibility | Yes | Yes |
- No stock options granted in recent years; director awards are restricted stock only.
Other Directorships & Interlocks
| Item | Status |
|---|---|
| Compensation Committee interlocks (SEC-defined) | None during fiscal 2025. |
| Current public boards (outside HWKN) | Not disclosed. |
Expertise & Qualifications
- Financial oversight: Former public company CFO and director; designated audit committee financial expert.
- Governance: Active roles across Audit (Chair), Compensation, and Governance committees.
- Industry/functional: Deep accounting, audit, and corporate finance background in manufacturing and services.
Equity Ownership
| As of | Shares Beneficially Owned | % of Shares Outstanding | Notable Details |
|---|---|---|---|
| Jun 6, 2025 | 41,567 | <1% | Includes 962 unvested restricted shares vesting Jul 31, 2025 |
| Pledging policy | Pledging/margin accounts prohibited for directors. | ||
| Hedging policy | Hedging prohibited for directors. |
No Section 16(a) delinquencies were noted for Wright; late filings disclosed for other individuals, not including Wright.
Governance Assessment
- Strengths:
- Chair of Audit Committee and an SEC-defined audit committee financial expert; robust oversight of external auditors and internal control, including cybersecurity.
- Fully independent; consistent committee engagement across three key committees; attendance at least 75% threshold met.
- Shareholder-friendly guardrails: clawback policy, hedging/pledging prohibitions.
- Compensation Committee uses independent consultant (McLagan/Aon) and disclosed independence; no interlocks.
- Watch items:
- Tenure since 2009 implies long service; investors typically monitor independence over extended tenure despite formal independence status.
- Year-over-year increase in director cash and equity retainer (from $50k/$70k to $70k/$100k) raises overall director pay; monitor alignment and performance outcomes but consistent with market trends.
- Conflicts:
- No related-party transactions disclosed involving Wright; notable related-party lease and employment relationships involve other directors/executives and were Audit Committee-reviewed.
Net investor signal: Wright’s deep financial expertise and role as Audit Chair, combined with independence and strong governance policies, bolster board effectiveness and investor confidence; limited conflict exposure and clean Section 16(a) record support alignment, with tenure a standard monitoring point rather than a current red flag.