Brent Magid
LEE ENTERPRISESAbout Brent Magid
Brent M. Magid (age 59) has served on Lee Enterprises’ Board since 2010. He is President and Chief Executive Officer of Frank N. Magid Associates, Inc., a research-based strategy consulting firm with deep media expertise. He is an independent director, Chair of the Nominating & Corporate Governance Committee (NCGC), and a member of the Executive Compensation Committee (ECC). The Board met nine times in 2024, and no incumbent director attended fewer than 75% of meetings; the Board has affirmed Magid’s independence under Nasdaq and SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Frank N. Magid Associates, Inc. | President & CEO | Ongoing | Brings insights on marketing, advertising trends, digital media strategy |
| Quattro Wireless | Director | 2007–2009 | Mobile advertising exposure enhances digital advertising perspective |
| JPMorgan Chase & Co. (Entertainment group) | Professional role | 1989–1991 | Financial experience contributing to audit/finance oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Quattro Wireless | Director (prior) | 2007–2009 | Prior public/private company board experience |
| — | — | — | No current public company directorships disclosed beyond Lee |
Board Governance
- Committee assignments: Chair, Nominating & Corporate Governance Committee; Member, Executive Compensation Committee .
- Independence: Board determined Magid is independent under Nasdaq and SEC rules .
- Attendance: Board met 9 times in 2024; no incumbent director attended fewer than 75% of Board/committee meetings .
- Prior audit expertise: Previously served on Audit Committee and designated as an audit committee financial expert (2024 proxy cycle) .
- Hedging/Pledging policy: Directors/officers prohibited from hedging or pledging company securities .
Fixed Compensation
| Year | Cash Retainer + Fees (USD) | Committee Chair Fees (Policy) | Equity Grant (USD) | Total (USD) |
|---|---|---|---|---|
| 2023 | 112,500 | Policy: Lead Dir $20k; Audit/ECC $15k; NCGC $10k | 60,000 | 172,500 |
| 2024 | 112,500 | Policy: Lead Dir $20k; Audit/ECC $15k; NCGC $10k | 60,000 | 172,500 |
Notes:
- Board program: $100,000 annual cash retainer; chair fees as shown; annual restricted stock awards to non‑employee directors increased to $60,000 beginning in 2022 .
- Director stock awards vest 100% on the first anniversary of the grant date .
Performance Compensation
- Director equity is time‑based restricted stock; no performance metrics are tied to director equity grants (vests after one year) .
- Recent director equity awards (Form 4):
- June 3, 2024: Award of 4,694 shares; post‑transaction ownership 26,824 shares; price $0 .
- June 2, 2025: Award of 8,740 shares; post‑transaction ownership 35,564 shares; price $0 .
| Date | Award Type | Shares Granted | Price | Post-Transaction Ownership |
|---|---|---|---|---|
| 2024-06-03 | Restricted Stock (Director award) | 4,694 | 0 | 26,824 |
| 2025-06-02 | Restricted Stock (Director award) | 8,740 | 0 | 35,564 |
Other Directorships & Interlocks
| Topic | Details |
|---|---|
| Current public company boards | None disclosed beyond Lee |
| Prior boards | Quattro Wireless (2007–2009) |
| Compensation committee interlocks | None; ECC members are independent, and no insider participation or reciprocal committee service disclosed |
Expertise & Qualifications
- Strategic media and digital services expertise; marketing and advertising trend analysis .
- Significant financial oversight experience; previously designated audit committee financial expert (2024 proxy) .
- Governance leadership via NCGC chair; active role in Board refresh and director selection processes .
Equity Ownership
| Holder | 12/31/2024 Shares | 10/31/2025 Shares | Ownership % |
|---|---|---|---|
| Brent M. Magid | 26,824 | 35,564 | <1% each date |
Additional alignment factors:
- Director stock ownership guidelines implemented (value‑based; specific multiples not disclosed) .
- Company policy prohibits hedging and pledging of company stock by directors .
Governance Assessment
- Strengths: Independent director with long tenure and relevant media/digital expertise; chairs NCGC and contributes to board refresh (NCGC met 10 times in 2024); strong attendance; prior audit expertise bolsters financial oversight .
- Alignment: Regular annual equity grants with one‑year vesting; beneficial ownership increased from 26,824 (12/31/2024) to 35,564 (10/31/2025), supported by director awards, indicating ongoing equity alignment .
- Controls & conflicts: No related party transactions disclosed; Audit & Risk Management Committee oversees related person transactions; hedging/pledging prohibited, mitigating alignment risks .
- Watch items: Executive say‑on‑pay approval in 2024 declined to 65.8% and prompted ECC changes; while not director pay, it signals investor sensitivity to compensation and governance—continued transparent disclosure and performance‑linked pay for executives is prudent .