Michael Schnabel

About Michael Schnabel

Michael Schnabel (age 47) is an independent director of Lifetime Brands (LCUT) and a Senior Partner at Centre Partners Management LLC. He joined LCUT’s board in 2018 in connection with the Filament (Taylor Parent) acquisition and subsequent stockholders agreement designating three Taylor Parent nominees (Kay, Pollack, Schnabel) to the board . Schnabel previously served as Director of Finance at OmniSky and worked in investment banking at Donaldson, Lufkin & Jenrette; he holds a B.S. from Duke University . The board has determined he is independent under Nasdaq standards .

Past Roles

External Roles

No current public company directorships are disclosed for Schnabel; his listed board roles are private company/portfolio company boards .

Board Governance

• Committee assignments: Audit Committee member (not Chair) .
• Independence: Board determined Schnabel is independent under Nasdaq rules .
• Attendance: In 2024, each director attended at least 75% of board and applicable committee meetings; the board held six regular meetings. Independent directors hold regular executive sessions without management .
• Lead Independent Director: Michael J. Regan; also Audit Chair and Nominating/Governance Chair .
• Board refresh/tenure context: Schnabel joined via Taylor Parent designee rights at Filament acquisition closing (Mar 1, 2018) and has been re-elected annually since .

Fixed Compensation (Director)

Director compensation structure and Schnabel’s 2024 compensation:

Performance Compensation (Director)

Other Directorships & Interlocks

• Significant shareholder representation: Centre Partners affiliates (Centre Partners V, L.P.) beneficially own approximately 26.7% of LCUT via Taylor Parent and Centre Investors (aggregate), with Bruce G. Pollack (Centre Managing Partner) also on LCUT’s board .
• Board designee history: Pursuant to the 2017 Merger/Stockholders Agreement for LCUT’s Filament (Taylor Parent) acquisition, the board appointed three Taylor Parent designees: Robert Kay (CEO), Bruce Pollack, and Michael Schnabel (effective March 1, 2018) .
• Related-party transactions: Aside from employment of certain family members of Chairman Jeffrey Siegel, the proxy reports no other related-person transactions requiring disclosure under Item 404 (none involving Schnabel) .

Expertise & Qualifications

• The board cites Schnabel’s extensive investment banking and private equity experience and board leadership roles in Centre Partners portfolio companies as key qualifications .
• Skills matrix indicates broad coverage among nominees; board’s summary emphasizes integrity, governance knowledge, strategic oversight and M&A experience among directors .

Equity Ownership

Stock ownership guidelines for directors: Own stock equal to ≥3× the non-employee director annual cash retainer (i.e., ≥$180,000) within 5 years of board service; unexercised options excluded, restricted shares counted when restrictions lapse. All directors/executives have satisfied or are on track within the five-year period .

Governance Assessment

• Board effectiveness and independence

  • Schnabel serves on the Audit Committee and is classified as an independent director under Nasdaq rules, supporting independent oversight of financial reporting .
  • Attendance and engagement thresholds were met (≥75% of board/committee meetings in 2024); the board held six regular meetings and conducts executive sessions of independent directors .

• Ownership alignment and incentives

  • Director compensation is equity-heavy at the board level ($105,000 RS annually versus $60,000 cash retainer plus fees), aligning non-employee director interests with shareholders; Schnabel’s 2024 mix reflects this structure .
  • Stock ownership guidelines (3× cash retainer in five years) and anti-hedging policy further align incentives; the proxy indicates directors are compliant or on track .

• Potential conflicts and interlocks

  • Centre Partners is a significant shareholder (~26.7%), and Schnabel is a Senior Partner; Pollack (Centre) also sits on the board. Their initial appointments were tied to the 2017 Filament (Taylor Parent) merger’s stockholder agreement requiring three designees (Kay, Pollack, Schnabel). This concentration of investor representation is a structural conflict to monitor, though Schnabel is designated “independent” by the board .
  • The proxy reports no related-party transactions requiring disclosure beyond certain family employment relationships of Chairman Jeffrey Siegel; none involve Schnabel .

• Risk indicators

  • No Section 16(a) filing delinquencies are reported for Schnabel in 2024 (late filings listed were for Daniel and Jeffrey Siegel) .
  • Audit oversight appears active (EY independence review; committee-level reporting). Schnabel’s Audit Committee membership places him directly in financial reporting oversight .

• RED FLAGS to watch

  • Significant shareholder designee history (Centre/Taylor Parent) and continued large ownership could influence governance; sustained independence and objective oversight should be monitored in audit matters and transactions implicating significant holders .
  • Family relationships on the management team and board (Siegel family) represent governance complexity; however, the company discloses and reports oversight via the Audit Committee’s related-party review policy .