Daniel Geballe
LEVI STRAUSS &About Daniel Geballe
Daniel W. Geballe (age 41) is an independent Class II director of Levi Strauss & Co., effective April 26, 2025, filling the vacancy created by David Friedman’s mandatory retirement; he will serve on the Audit Committee and Finance Committee and meets applicable Audit Committee requirements . He is a Managing Director at SJF Ventures, focused on early‑stage companies with positive social and environmental impact; prior roles include the Corporation for Enterprise Development and Fisher Investments . Education: B.A. in Anthropology and M.E.M. in Environmental Management (Yale University) and M.B.A. (Stanford Graduate School of Business) . He is a member of the family of LS&Co.’s founder and also serves as Vice President and Board member of the Levi Strauss Foundation, chairing its Finance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SJF Ventures | Managing Director | 2013–present | Leads investments in early‑stage companies creating social/environmental impact |
| Corporation for Enterprise Development | Professional role (prior to SJF) | Not disclosed | Economic development focus (as disclosed) |
| Fisher Investments | Professional role (prior to SJF) | Not disclosed | Investment experience (as disclosed) |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Levi Strauss Foundation | Vice President; Board Member; Finance Committee Chair | Current (as disclosed) | Chairs Finance Committee |
Board Governance
- Appointment and term: Elected as Class II director effective April 26, 2025; term runs until the 2027 annual meeting and until a successor is elected . Independence: Board determined Geballe is an “independent” director under NYSE rules . Family ties: He is a descendant of the founder’s family . Committee assignments: Audit Committee and Finance Committee, effective upon appointment (Board action January 17, 2025) .
- Board structure and practices: Independent Board Chair; majority‑independent board; committee membership limited to independent directors; regular executive sessions; director and officer stock ownership requirements; no poison pill . The Board met six times in FY 2024, and each director attended at least 75% of Board/committee meetings for which they served . Directors are expected to attend annual shareholder meetings .
- Related‑party policy and 2024 transactions: Related‑party transactions require approval by disinterested directors per policy . In FY 2024, no related‑party transactions >$120,000 were identified, other than a registration rights agreement from the 2019 IPO noted for certain holders (not listing Geballe) .
- Foundation linkage: LS&Co. donated $6.3 million to the Levi Strauss Foundation in FY 2024; the CEO and General Counsel serve on that Foundation’s board (Geballe serves as VP/board member of the Foundation) .
- Shareholder engagement and Say‑on‑Pay context: The company emphasizes ongoing shareholder engagement on governance, compensation, and sustainability . Say‑on‑Pay received >99% approval at the 2024 annual meeting .
Fixed Compensation (Non‑Employee Director Structure applicable to Geballe)
| Component | Amount/Terms |
|---|---|
| Annual cash retainer | $100,000 per fiscal year |
| Annual equity award (RSUs) | $155,000 grant‑date value in FY 2024; increased to $175,000 starting in FY 2025 |
| Board Chair additional retainer | $200,000 (50% cash / 50% RSUs) in FY 2024; Chair may also receive applicable committee chair retainers |
| Committee chair retainers | Audit: $25,000; Compensation & Human Capital: $20,000; Finance: $15,000; Nominating/Governance/Corporate Citizenship: $15,000 |
| Equity vesting/delivery | Annual director RSUs generally grant at close of business on annual meeting date; vest in full by the next annual meeting or one‑year anniversary; delivery deferred until six months post‑Board service |
| Director ownership guideline | 5x annual retainer ($500,000) within five years; as of Dec 1, 2024, all then‑current directors were in compliance |
Notes: On October 10, 2024, the Board determined Mr. Geballe will receive compensation consistent with non‑employee director practices .
Performance Compensation (Directors)
| Element | Structure | Metrics |
|---|---|---|
| Annual director equity | Time‑based RSUs for non‑employee directors | No performance metrics; vesting as noted above |
Other Directorships & Interlocks
- Other public company boards: None disclosed in the October 2024 8‑K/press release or 2025 Proxy regarding Geballe .
- Internal committee interlocks: The Compensation & Human Capital Committee disclosed no interlocks or insider participation for FY 2024 .
Expertise & Qualifications
- Impact and sustainability investing: Managing Director at SJF Ventures, leading investments creating social and environmental impact .
- Education: Yale University (B.A. Anthropology; M.E.M. Environmental Management); Stanford GSB (M.B.A.) .
- Audit committee eligibility: Board determined he meets applicable requirements to serve on the Audit Committee .
- Foundation governance: Vice President/board member, Levi Strauss Foundation; chairs Finance Committee .
Equity Ownership
| Security | Amount | Ownership Form | Notes |
|---|---|---|---|
| Class A Common Stock | 35,011 | Indirect | Held by “03/04/2015 Daniel and Linda Geballe Revocable Trust” (Form 3) |
| Class B Common Stock (convertible) | 376,849 | Indirect | Held by various family trusts; each Class B share convertible into one Class A share at holder’s option; no expiration |
Insider filing: Initial Statement of Beneficial Ownership (Form 3) filed April 29, 2025; event date April 26, 2025; relationship: Director .
Policy context: Directors are prohibited from hedging or pledging company stock under the Insider Trading Policy .
Governance Assessment
- Strengths for investor confidence:
- Independence affirmed by the Board; committee assignments on Audit and Finance provide line‑of‑sight into financial oversight and capital allocation .
- Impact‑investing and sustainability background may support LS&Co.’s corporate citizenship and long‑term value orientation .
- Strong governance practices: independent chair, majority‑independent board, executive sessions, ownership requirements, and robust related‑party review process; no FY 2024 related‑party transactions identified >$120k .
- Say‑on‑Pay approval >99% in 2024 signals broad shareholder support for compensation governance .
- Potential risks/red flags (and mitigants):
- Family affiliation and significant indirect Class B holdings via family trusts could raise perceived conflict/entrenchment concerns; mitigated by an independence determination and formal related‑party approval controls .
- Foundation linkage: LS&Co. donated $6.3 million to the Levi Strauss Foundation in FY 2024 while the CEO and GC served on its board; Geballe also serves as VP/board member of the Foundation. This is disclosed and subject to Board oversight, but investors may monitor for possible perceived conflicts .
- No disclosure of “audit committee financial expert” status for Geballe (committee financial experts named elsewhere), though the Board confirmed he meets audit committee requirements .
Insider Filings
| Filing | Filed Date | Event Date | Relationship | Holdings Summary |
|---|---|---|---|---|
| Form 3 (Initial Statement) | April 29, 2025 | April 26, 2025 | Director | 35,011 Class A (indirect via revocable trust); 376,849 Class B (indirect via family trusts; convertible 1:1 to Class A) |
Appendix: Board and Committee Context
- Class and term: Class II, serving until 2027 annual meeting .
- Committee appointments: Audit and Finance (Board action Jan 17, 2025; effective upon appointment) ; the 2025 Proxy notes he will serve on Audit and Finance upon Mr. Friedman’s retirement .
- Board operations: Six meetings in FY 2024; all then‑serving directors ≥75% attendance; executive sessions at every Board meeting .
- Director compensation framework and ownership guidelines as detailed above .