Kaan Aslansan
About Kaan Aslansan
Kaan Aslansan is an independent director of The LGL Group, Inc., age 51, serving since 2022; he is designated as an audit committee financial expert and sits on the Audit, Compensation, Nominating, and Investment Committees . He holds a B.S. in Management Information Systems from Rensselaer Polytechnic Institute and currently serves as Co‑President at SOL Investment Group (2021–present) . His background includes corporate transformation and restructuring advisory work at Alvarez & Marsal (Managing Director 2018–2021; Senior Advisor 2021–2025) and prior co‑founding Optimity Advisors (2009–2018) . The Board has affirmed his independence under NYSE American rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alvarez & Marsal Holdings, LLC | Managing Director – Corporate Transformation Services | 2018–2021 | Corporate transformations and restructuring expertise |
| Alvarez & Marsal Holdings, LLC | Senior Advisor – Corporate Transformation Services | 2021–2025 | Corporate transformations and restructuring expertise |
| Optimity Advisors | Co‑Founder and Managing Director | 2009–2018 | Built consulting services across media, financial services, insurance, healthcare |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SOL Investment Group | Co‑President | 2021–present | Software services investment management provider |
Board Governance
- Independence and roles: The Board determined Aslansan is independent under NYSE American rules and an “audit committee financial expert”; he serves on Audit, Compensation, Nominating, and Investment Committees .
- Committee chairs: He is not a chair; current chairs are Audit (Kalha), Compensation (Kalha), Nominating (Kalha), Investment (DeRemer) .
- Board/committee activity in 2024: Board held six meetings; Audit met six times; Nominating met twice; Investment met three times; Compensation had no formal meetings (met informally) . All directors attended at least 75% of Board and committee meetings for which they served in 2024 .
- 2025 election support: Votes for/withheld/broker non‑votes for Aslansan were 2,136,372 / 11,207 / 1,141,115, respectively .
Committee Assignments
| Committee | Membership | Chair | Meetings in 2024 |
|---|---|---|---|
| Audit | Member | Manjit Kalha | 6 |
| Compensation | Member | Manjit Kalha | No formal meetings (met informally) |
| Nominating | Member | Manjit Kalha | 2 |
| Investment | Member | Darlene DeRemer | 3 |
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 21,500 | — | 21,500 |
Non‑Employee Director Compensation Structure (as disclosed; effective around 2024/2025)
| Component | Amount ($) | Notes |
|---|---|---|
| Base Annual Retainer (cash) | 10,000 | Paid quarterly in arrears |
| Board Meeting (in person) | 2,000 per meeting | |
| Board Meeting (telephonic) | 750 per meeting | |
| Committee Meetings | 750 per meeting | |
| Chairman Cash Retainer | 2,500 annually | |
| Committee Chair Retainers | Audit: 2,000; Compensation: 1,000; Nominating: 1,000 | |
| Restricted Stock Awards | 15,000 grant value | Granted March 25, 2025, three‑year vesting |
Performance Compensation
| Element | Grant Date | Value ($) | Vesting | Performance Metrics |
|---|---|---|---|---|
| Director Restricted Stock Award | March 25, 2025 | 15,000 | Three‑year vesting | Not disclosed for director awards |
Other Directorships & Interlocks
| Company | Role | Tenure | Notes |
|---|---|---|---|
| None | — | — | The proxy lists no other current or former public company directorships for Aslansan |
Expertise & Qualifications
- Financial expertise and M&A experience highlighted in the Board’s skills matrix (financial statements oversight, capital structure, internal controls; acquisitions experience) .
- Audit committee financial expert designation per SEC rules, underscoring technical literacy and oversight capability .
- Corporate transformation and restructuring advisory background, aligning with LGL’s merchant investment and portfolio activities .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Shares Outstanding Reference |
|---|---|---|---|
| Kaan Aslansan | 5,182 | <1% (asterisk denotes less than 1%) | 5,389,211 shares outstanding as of April 25, 2025 |
Governance Assessment
- Positive signals:
- Independence and audit committee financial expert designation support robust oversight in audit, compensation, nominating, and investment domains .
- Broad committee participation plus majority investor support (2.14M “For” votes) indicate shareholder confidence in his board contribution .
- Watch items and potential RED FLAGS:
- Company discourages but does not prohibit hedging or pledging by insiders; absence of a prohibition is a governance risk for alignment in some investor frameworks .
- Combined CEO/Chair roles (Marc Gabelli) may reduce independent counterbalance at the board level; board believes current structure is appropriate, but some investors prefer separation .
- Compensation Committee had no formal meetings in 2024 (met informally); formal cadence strengthens documentation and oversight signals .
- Related‑party exposure: material company assets managed by GAMCO and affiliates ($34.2M at 12/31/2024; fees ~8 bps), overseen by the Investment Committee; continued vigilance is warranted to ensure arm’s‑length economics .
- Concentrated ownership: Mario J. Gabelli beneficially owns ~19.4% of common stock, which can influence governance dynamics and requires independent directors to maintain strong oversight .
Shareholder Votes and Engagement
| Item | Result | Detail |
|---|---|---|
| 2024 Say‑on‑Pay | ~96% approval | Indicates broad support for NEO pay framework |
| 2025 Say‑on‑Pay | Approved | For: 2,129,220; Against: 8,684; Abstain: 9,675; Broker non‑votes: 1,141,115 |