Jeffrey Siegel
About Jeffrey Siegel
Jeffrey Siegel (age 82) is Chairman of the Board of Lifetime Brands, Inc., serving as a director since 1967 and as Chairman since June 2001; he was CEO from 2000–2018 and Executive Chairman from March 2018–March 31, 2023 . He is not independent under Nasdaq rules due to family members employed at the company and currently serves as Chair of the Executive Committee and a member of the ESG Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lifetime Brands, Inc. | Chairman of the Board | 2001–present | Board leadership, strategy oversight |
| Lifetime Brands, Inc. | Executive Chairman | Mar 2018–Mar 31, 2023 | Transitioned leadership; maintained board oversight |
| Lifetime Brands, Inc. | Chief Executive Officer | Dec 2000–Mar 2018 | Led corporate strategy and operations |
| Lifetime Brands, Inc. | President | Dec 1999–2013 | Executive leadership |
| Lifetime Brands, Inc. | Director | 1967–present | Long-tenured board service |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| — | None disclosed | — | — |
No other public company directorships were disclosed for Mr. Siegel in the latest proxy .
Board Governance
- Independence: Not independent under Nasdaq rules because certain relatives are employed by the company .
- Current roles: Chairman of the Board; Chair, Executive Committee; Member, ESG Committee .
- Lead Independent Director: Michael J. Regan (appointed 2023) with defined responsibilities for independent oversight .
- Board/Committee activity: Board met 6 times in 2024; each director attended at least 75% of Board and committee meetings; all directors at the time attended the 2024 Annual Meeting .
- Executive sessions: Independent directors meet in regular executive sessions without management .
- Governance practices: Majority voting resignation policy; declassified board; director stock ownership guidelines; anti-hedging policy; clawback policy for executives .
| Committee | Role | Notes |
|---|---|---|
| Executive Committee | Chair | No meetings held in 2024 |
| ESG Committee | Member | ESG oversight; 2 meetings in 2024 |
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual Board cash retainer | $60,000 | Standard non-employee director cash retainer |
| Chairman annual cash retainer | $50,000 | Additional cash retainer for Chairman |
| Meeting fees | $2,000 per Board meeting; $500 per committee meeting | Applies per meeting attended |
| 2024 cash actually paid (Siegel) | $125,000 | Reflects retainers and meeting fees |
Performance Compensation (Director)
Directors receive time-based restricted stock (no performance metrics). Mr. Siegel did not receive director options in 2024; his only equity as a director for 2024 was restricted stock.
| Equity Award | Grant Date | Shares/Units | Vesting | Grant-Date Fair Value |
|---|---|---|---|---|
| Restricted Stock | Jun 20, 2024 | 11,653 | Fully vests Jun 20, 2025 | $105,000 |
Notes: Aggregate stock awards for each non-employee director are valued at grant-date fair value under ASC 718 .
Other Directorships & Interlocks
| Relationship | Detail | Governance/Conflict Relevance |
|---|---|---|
| Stockholders Agreement (2018) | Required appointment of three Taylor Parent (Filament) designees (Kay, Pollack, Schnabel) following Filament acquisition | Board includes two Centre Partners executives (Pollack, Schnabel), aligning with a 26.7% beneficial owner group (Centre Partners V, L.P. and affiliates) |
| Major holders | Centre Partners V, L.P. 26.7%; others ≥5% include JB Capital 5.6%, Mill Road 5.4%, Dimensional 5.1% | Ownership concentration heightens scrutiny of minority shareholder protections |
No external public company boards were disclosed for Mr. Siegel .
Expertise & Qualifications
- “Extensive knowledge of our strategy, operations and financial position and of the housewares and retail industries” through decades of leadership and prior Executive Chairman role .
Equity Ownership
| Item | Amount/Status |
|---|---|
| Total beneficial ownership | 1,216,261 shares (5.4% of outstanding) |
| Directly owned | 1,140,251 shares |
| Spousal ownership | 1,010 shares |
| Options exercisable within 60 days | 75,000 shares |
| Restricted shares outstanding (12/31/24) | 11,653 shares (granted 6/20/24; vests 6/20/25) |
| Shares outstanding reference | 22,414,005 shares outstanding (record date 4/22/2025) |
| Ownership guidelines | Directors must hold ≥3x annual cash retainer within 5 years; all directors on track or satisfied |
| Hedging/Pledging | Hedging prohibited by Insider Trading Policy; pledging not disclosed |
Related-Party and Conflicts Review
| Related Person | Relationship to J. Siegel | 2024 Compensation/Grant Detail |
|---|---|---|
| Daniel Siegel | Son; President (NEO) | See NEO tables; 2024 total comp $1,858,900 (salary, bonus, equity, other) |
| Clifford Siegel | Son; EVP – Global Supply Chain & Import | $636,327 cash; 7,500 RS (FV $73,200); 7,500 PS (FV $73,200) |
| James Wells | Son-in-law; EVP & Group President, Kitchenware Division | $583,056 cash; 2,750 RS (FV $26,840); 2,750 PS (FV $26,840) |
| Craig Phillips | Cousin; Director | Director since 1974 |
- The Audit Committee reviews and approves related-party transactions per written policies and its charter; apart from family employment, there were no Item 404 transactions requiring disclosure .
- Independence: Mr. Siegel is designated non-independent due to family employment relationships .
Director Compensation (2024) – Actuals
| Name | Fees Earned (Cash) | Stock Awards (FV) | Total |
|---|---|---|---|
| Jeffrey Siegel | $125,000 | $105,000 | $230,000 |
Insider Trades and Section 16 Compliance
| Date of Transaction | Filing Status | Notes |
|---|---|---|
| Oct 4, 2024 | Form 4 filed late (reported Nov 15, 2024) | One transaction reported late for Jeffrey Siegel in 2024 |
Say‑on‑Pay & Shareholder Feedback (Context)
- Say-on-pay at the June 20, 2024 Annual Meeting received approximately 90% support of votes cast, signaling generally favorable investor sentiment on pay practices .
Governance Assessment
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Strengths:
- Clear separation of Chair and CEO roles; robust lead independent director remit; regular executive sessions .
- Director ownership guidelines and anti-hedging policy support alignment; directors on track/compliant .
- Transparent director compensation structure with balanced cash/equity .
-
Concerns and monitoring items:
- RED FLAG: Non‑independent Chair with extensive family ties in senior roles (son as President; son and son‑in‑law as EVPs), creating potential conflicts and succession/oversight risks .
- RED FLAG: Concentrated ownership and board designees from a 26.7% holder (Centre Partners affiliates) increase control dynamics; continued vigilance on minority shareholder safeguards warranted .
- Minor flag: One late Form 4 for Mr. Siegel in 2024; isolated but worth monitoring for timely disclosure discipline .
- Executive Committee chaired by Mr. Siegel; while routine in scope, it centralizes authority—monitor use and delegation .
-
Implications for investor confidence:
- The combination of a non‑independent Chair and multiple family members in operating roles is the primary governance risk. Mitigants include a strong lead independent director, independent committee leadership (Audit and Comp chaired by independent directors), and disclosed related‑party oversight via the Audit Committee . Continued transparency on related‑party matters and adherence to majority voting/resignation policy remain key .