Martin G. Glavin
LAKELAND INDUSTRIESAbout Martin G. Glavin
Independent director of Lakeland Industries (LAKE); age 67; joined the Board in 2024. Retired business executive with a BBA in Accounting from St. Bonaventure University; designated by the Board as an audit committee financial expert. Co-Chair of the Audit Committee and Co-Chair of the Technology Committee; background spans audit (PwC/KPMG), management consulting, and operating leadership in technology enterprises .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| iVEDiX, Inc. | President & Chief Operating Officer | 2014–2018 | Led operations at a tech firm; executive leadership experience in financial reporting and IT . |
| PricewaterhouseCoopers LLP; KPMG | Audit (2 years); Management Consulting (10 years) | 12 years (dates not specified) | Foundational audit and consulting expertise; financial reporting and controls . |
| SiGMA Consulting LLC; Navint Consulting LLC; TriBridge, Inc. | Managing Director/President; founder | Not disclosed | Founded, grew, and sold business services/technology enterprises across multiple geographies . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Three + One, Inc. (private) | Board member | Current | Privately held software/services company; no public company interlocks disclosed . |
Board Governance
- Independence: Board affirmatively determined Glavin is independent under Nasdaq/SEC rules; six of seven directors are independent (majority) .
- Committee assignments: Audit Committee (Co-Chair); Technology Committee (Co-Chair); both committees comprised entirely of independent directors .
- Financial expert: Board determined Glavin (and Schlarbaum) are “audit committee financial experts” per SEC rules .
- Attendance: FY ended Jan 31, 2025—Board met 9 times; Audit 5; Compensation 7; Nominating & Governance 5; Technology formed Jan 31, 2025, no meetings; each director attended at least 75% of applicable meetings .
- Annual meeting attendance: All directors then in office attended the June 13, 2024 annual meeting .
- Executive sessions: Independent directors meet in executive session generally no less than twice per year .
- Lead Independent Director: Thomas J. McAteer is Lead Independent Director; flexible leadership structure with combined CEO/Chair at present .
- Cybersecurity oversight: Audit and Technology Committees (and Board) provide quarterly oversight; Technology Committee governs cybersecurity program and incident materiality assessment .
- Auditor transition: Audit Committee dismissed Deloitte (Oct 11, 2024) and appointed RSM; no disagreements reported; prior material weakness remediated as of Jan 31, 2024 .
Fixed Compensation
| Component (FY ended Jan 31, 2025) | Policy/Rate | Notes |
|---|---|---|
| Annual Board retainer (cash) | $70,000 | Non-employee directors. |
| Annual RSU grant (Board) | $65,000 value | Granted post-Annual Meeting; vest in one year. |
| Audit Committee Chair retainer | $20,000 | Chair role; Board lists co-chairs—actual cash amounts disclosed below. |
| Audit Committee member retainer | $7,500 | Per member. |
| Compensation Committee Chair | $7,500 | |
| Nominating & Governance Chair | $6,000 | |
| Compensation Committee member | $3,750 | |
| Nominating & Governance member | $3,000 |
Director compensation actuals (FY ended Jan 31, 2025):
| Name | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Martin G. Glavin | 80,625 | 64,997 | 145,622 |
- Mix: ~55% cash ($80,625) and ~45% equity ($64,997) based on FY2025 totals .
Comp structure changes effective Feb 1, 2025:
- Annual Board RSU grant increased to $75,000; Lead Independent Director receives $85,000 cash retainer plus $30,000 RSUs annually; one-time 3,000 RSUs for each Technology Committee member on 2025 Annual Meeting date .
Performance Compensation
| Award | Grant specifics | Vesting/Performance | Notes |
|---|---|---|---|
| Board RSUs (FY2025 cycle) | 2,842 RSUs to each non-employee director following June 13, 2024 Annual Meeting | Vest in full on first anniversary of grant (time-based only) | Non-employee director awards are time-based; no disclosed performance metrics for director equity. |
| Technology Committee one-time RSUs | 3,000 RSUs per Tech Committee member (on 2025 Annual Meeting date) | Time-based; vesting not further specified | Applies to Committee members including Glavin as Co-Chair . |
No director performance-conditioned equity or cash incentives are disclosed; performance metrics (revenue growth, EBITDA, FCF margins) apply to executive compensation, not directors .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed for Glavin . |
| Private boards | Three + One, Inc. (board member) . |
| Compensation committee interlocks | None—disclosed for the Company’s Compensation Committee (no insider participation/interlocks) . |
| Related-party transactions | None entered into FY2024 or FY2025; none proposed . |
Expertise & Qualifications
- Financial accounting and reporting expertise; designated “audit committee financial expert” .
- IT, technology strategy, and business development experience; co-chairs Technology Committee .
- BBA in Accounting (St. Bonaventure University) .
- Global operating experience across North America, Europe, Asia, and Africa; leadership roles in consulting and tech services .
Equity Ownership
| Metric | Amount/Detail |
|---|---|
| Beneficial ownership (as of Mar 31, 2025) | 4,545 shares; <1% of class . |
| Unvested director RSUs (as of Jan 31, 2025) | 2,842 RSUs per non-employee director . |
| Anti-hedging/anti-pledging | Company policy prohibits hedging and pledging of Company securities by directors . |
| Ownership guidelines | Directors must own Company shares with FMV ≥ 2x annual cash retainer; dispositions restricted until guideline met . |
| Estimated value of directly owned shares (reference price) | ~$105,000 computed as 4,545 × $23.19 (Jan 31, 2025 close) . |
| Compliance status with ownership guidelines | Not disclosed; Company enforces minimums and disposition limits . |
Governance Assessment
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Strengths:
- Independent director with deep financial expertise; co-chairs Audit and Technology, directly aligned with financial reporting and cybersecurity risk oversight .
- Clear independence standards; majority-independent Board; independent-only committees; regular executive sessions .
- Robust governance policies: clawback compliant with Dodd-Frank; anti-hedging/anti-pledging; stock ownership guidelines for directors .
- Auditor change overseen by Audit Committee with no reported disagreements; prior material weakness remediated .
-
Alignment:
- Director pay includes meaningful equity (time-based RSUs) and increased RSU grants beginning FY2026 policy year; one-time RSUs for Technology Committee fortify alignment with technology oversight mandate .
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RED FLAGS / Watch items:
- Late Section 16 Form 3 filing for Glavin (April 18, 2024). While minor, late filings can signal administrative controls weaknesses—monitor for repeat occurrences .
- Combined CEO/Chair structure; presence of Lead Independent Director mitigates but remains a governance consideration for some investors .
-
Conflicts:
- No related-party transactions involving Glavin disclosed for FY2024–FY2025; Audit Committee reviews/approves any related party transactions per policy .
Overall, Glavin’s financial and technology oversight roles, independence, and equity-based pay support board effectiveness and investor confidence; minor administrative filing lapse noted, and combined CEO/Chair warrants continued monitoring within the Board’s stated flexible leadership approach .