Evelyn Follit
MARINEMAXAbout Evelyn V. Follit
Evelyn V. Follit (age 78) is an independent director of MarineMax (HZO), serving since September 2015. She is President of Follit Associates (since 2005) and previously held senior executive roles at RadioShack (SVP/CIO/Chief Organizational Enabling Services Officer, 1997–2005), with earlier leadership positions at IBM and Dun & Bradstreet; she is designated an audit committee financial expert. She is a Class I director with a current term expiring in 2026, and has been determined independent under NYSE standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Follit Associates | President | 2005–present | Corporate technology and executive assessment consulting (experience base for board service) |
| RadioShack Corporation | SVP; Chief Information Officer; Chief Organizational Enabling Services Officer | 1997–2005 | IT, HR, and operations leadership; retail/technology expertise |
| IBM; Dun & Bradstreet | Leadership positions | Not disclosed | Information technology, HR, operations experience |
External Roles
| Organization | Role | Notes |
|---|---|---|
| Not disclosed in HZO 2025 proxy | — | The 2025 DEF 14A lists Follit’s biography but does not disclose current public company directorships beyond HZO. |
Board Governance
- Committee assignments: Audit Committee member; Nominating/Corporate Governance Committee member. She is an audit committee financial expert.
- Independence: The Board determined Follit is independent under NYSE standards.
- Board structure and tenure: Classified board; Follit is a Class I director with term expiring 2026.
- Attendance and engagement: In FY2024, the Board met 8 times; Audit met 8; Nominating/Corporate Governance met 8; no director attended fewer than 75% of applicable meetings; all directors attended the prior annual meeting.
- Executive sessions: Regular executive sessions of non-employee directors are held.
Fixed Compensation (Non-Employee Director – FY2024)
| Component | Amount | Detail |
|---|---|---|
| Quarterly director fee | $18,750 per quarter | Paid in cash, stock, or combination at director election (effective Oct 1, 2024) |
| Audit Committee member fee | $7,500 annually | Member (Chair additional $25,000; not applicable to Follit) |
| Nominating/Corporate Governance member fee | $3,000 annually | Member (Chair additional $15,000; not applicable to Follit) |
| Cash fees actually paid (Follit) | $85,500 | FY2024 director compensation table |
The $85,500 cash line reconciles to the structure: base ($75,000) + Audit member ($7,500) + Nominating member ($3,000).
Performance Compensation (Non-Employee Director – FY2024)
| Equity Award | Grant Value | Vesting | Performance Metrics |
|---|---|---|---|
| Annual restricted shares | $140,003 | Vests 1 year after grant date; value based on closing price at grant | None disclosed (time-based) |
- New director option grants: Newly appointed non-employee directors receive 5,000 options vesting 33% per year beginning on grant date; this applies to new appointees (Follit joined in 2015; no FY2024 option grant disclosed for her).
- Options outstanding (as of 9/30/2024): Footnotes list which directors had outstanding options; Follit is not listed, implying no outstanding options.
Director Compensation (FY2024 actuals)
| Name | Fees Earned or Paid in Cash | Stock and Option Awards | Total |
|---|---|---|---|
| Evelyn V. Follit | $85,500 | $140,003 | $225,503 |
Other Directorships & Interlocks
- Compensation Committee interlocks: The proxy reports no compensation committee interlocks or insider participation conflicts for FY2024. (Follit is not a member of the Compensation Committee.)
- Shared directorships/interlocks with HZO customers/suppliers: Not disclosed for Follit in the 2025 proxy.
Expertise & Qualifications
- IT, HR, and operations leadership; retail and technology domain expertise; audit committee financial expert designation.
- Board skills matrix shows Follit contributing to leadership, public board, financial, risk management, technology/innovation, and ESG competencies.
Equity Ownership (Record Date: December 30, 2024)
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Evelyn V. Follit | 45,050 | <1% | Excludes 4,633 unvested RSUs. No options listed for Follit. |
Policy alignment
- Hedging and pledging: Directors/officers are prohibited from hedging and pledging company stock.
- Stock ownership guidelines: Directors are expected to acquire shares equal to a multiple (one to five times) of the annual retainer within five years; ongoing expectation of compliance.
Governance Assessment
-
Positives:
- Independent director since 2015; serves on two key committees; designated audit committee financial expert; no attendance concerns flagged; annual meeting attended.
- Director equity compensation is time-based restricted stock with one-year vesting, aligning interests via ownership; hedging/pledging prohibited; ownership guidelines in place.
- Beneficial ownership of 45,050 shares supports alignment; no options noted that could incentivize short-term risk-taking.
- Company-level shareholder support signals: 2024 say-on-pay passed with ~99% of votes cast.
-
Monitoring items:
- Classified board structure persists (Follit’s class term to 2026); while permitted, some investors view staggered boards as entrenchment risk—mitigated by regular refreshment noted by the Board.
- No related-party transactions disclosed involving Follit; continue to monitor future filings’ “Certain Transactions” section.
-
RED FLAGS: None identified for Follit in the 2025 proxy (no pledging, no related-party transactions, no attendance shortfall).