Elton C. Parker, Jr.
About Elton C. Parker, Jr.
Elton C. Parker, Jr. is a 73-year-old Certified Public Accountant and independent director of Investors Title Company, serving on the board since 2020 with his current term expiring in 2027 . He retired in 2006 as an audit partner at Deloitte & Touche LLC (Raleigh, NC), having joined the firm in 1974 and serving in supervising partner roles for insurance company audits beginning in 1985; he is Managing Member of Elpark Financial LLC since 2006 and President of Elpark Inc. since 1982 . He was selected for the board for extensive public accounting expertise, particularly in insurance, and management/strategic planning experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte & Touche LLC (Raleigh, NC) | Audit Partner | 1974–2006; supervising partner on insurance audits from 1985 | Led insurance company audits; deep financial reporting and control expertise |
| Elpark Financial LLC | Managing Member | Since 2006 | Financial advisory/consulting leadership |
| Elpark Inc. & subsidiaries | President | Since 1982 | Family-owned real estate, farming, investment operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Elpark Financial LLC | Managing Member | Since 2006 | Financial advisory/consulting |
| Elpark Inc. & subsidiaries | President | Since 1982 | Family-owned real estate/farming/investment company |
| Other public company boards | — | — | No other public company directorships mentioned in proxy biography |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Board determined Parker is “independent” under Nasdaq standards and company independence standards |
| Committees | Audit Committee member |
| Chair Roles | Audit Committee Chairman (signed Audit Committee Report as Chairman) |
| Audit Committee meetings (2024) | 7 meetings |
| Board meetings (2024) | 4 meetings |
| Attendance | All incumbent directors attended at least 75% of aggregate Board and committee meetings; all Board members attended 2024 Annual Meeting |
| Financial Expert | Audit Committee members, including Parker, are deemed “audit committee financial experts” under SEC rules |
| Executive Sessions | Independent directors hold executive sessions periodically |
| Risk Oversight | Audit Committee has primary responsibility for financial reporting/internal controls and related compliance; reviews related-party transactions/conflicts |
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| Annual retainer (non-employee directors) | $7,500 |
| Board meeting fee | $2,500 per Board meeting attended, plus travel expenses |
| Committee meeting fee | $750 per committee meeting held on a day other than regular Board meeting date |
| Audit Committee Chair retainer | $500 annual additional retainer |
| 2024 Fees Earned (Parker) | $23,250 |
Performance Compensation
| Grant Date | Vehicle | Quantity | Exercise Price | Vesting | Expiration | Grant-Date Fair Value |
|---|---|---|---|---|---|---|
| May 15, 2024 | Stock Appreciation Rights (SARs) under 2019 Plan | 750 | $160.94 | Vested in four quarterly installments beginning June 30, 2024 | May 15, 2031 | $69,327 (ASC 718 grant-date fair value) |
| As of Dec 31, 2024 | SARs Outstanding | Vested SARs |
|---|---|---|
| Parker | 4,500 | 4,312 |
Notes:
- Company did not grant any stock options in fiscal 2024; no option awards outstanding for directors at year-end .
- Director equity awards are SARs that settle in stock upon exercise (difference between closing price pre-exercise and exercise price, paid in shares) .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None mentioned in proxy biography |
| Private/other organizations | Elpark Financial LLC (Managing Member); Elpark Inc. & subsidiaries (President) |
| Interlocks/Shared boards | Not disclosed in proxy regarding Parker |
Expertise & Qualifications
- Certified Public Accountant; decades of audit leadership including supervising partner roles for insurance companies .
- Determined to be an “audit committee financial expert” by the Board under SEC rules .
- Management and strategic planning experience from advisory and family enterprise leadership .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Elton C. Parker, Jr. | 7,500 | <1% (asterisk denotes less than 1%) | Includes 4,500 shares purchasable under SARs exercisable or within 60 days of April 1, 2025 |
| Policy | Detail |
|---|---|
| Hedging & Pledging | Insiders (directors included) are prohibited from hedging (e.g., puts/calls) and from holding company securities in margin accounts or pledging as collateral |
Governance Assessment
- Audit Committee leadership: Parker chairs the Audit Committee and is recognized as an SEC-defined financial expert—positive for financial reporting oversight and internal controls .
- Independence and engagement: Board affirms his independence; Audit Committee met 7 times; Board met 4 times; all incumbents met at least the 75% attendance threshold and attended the 2024 Annual Meeting—suggesting adequate engagement .
- Ownership alignment: Parker beneficially owns 7,500 shares, with SARs that align pay with stock outcomes; company prohibits hedging and pledging, supporting alignment with shareholders .
- Director compensation mix: 2024 cash fees of $23,250 and equity grant fair value of $69,327 indicate a balanced mix with meaningful equity exposure; Audit Chair retainer modest ($500), limiting cash-heavy incentives .
- Related-party safeguards: Audit Committee reviews related-party transactions; company reported no related person transactions in 2023–2024—no apparent conflicts tied to Parker .
RED FLAGS
- None disclosed specific to Parker (no related-party transactions, hedging/pledging is prohibited) .
- Broader governance context: Significant ownership by the Fine family (executive insiders) could pose structural influence risks; Audit Committee oversight is a mitigant, and no related-party transactions were reported for 2023–2024 .