Sharon Leite
About Sharon M. Leite
Independent director since 2021 (age 62) with deep multi-brand retail and omnichannel operating experience spanning CEO, president, and EVP roles across specialty retail, beauty, CPG, and DTC. Education includes an MBA from The Jack Welch Management Institute; prior studies at Loyola University, Kent State University, and Delgado College. Current FY25 committee roles: Chair of Compensation; member of Audit; formerly on Nominating & Governance through April 2024. Board determined her to be independent under SEC/Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ideal Image | Chief Executive Officer and Board Member | Jan 2023 – Oct 2023 | Led med‑spa consumer services; short CEO tenure following retail CEO role. |
| The Vitamin Shoppe, Inc. | Chief Executive Officer | Aug 2018 – Jan 2023 | Drove digital and retail transformation at specialty wellness retailer. |
| Godiva Chocolatier (North America) | President, North America | Oct 2017 – Aug 2018 | Oversaw NA operations for global premium confectionery. |
| Sally Beauty — North America (NYSE: SBH) | President, North America | Feb 2016 – May 2017 | Ran large specialty retail footprint/distribution. |
| Pier 1 Imports (NYSE: PIR) | EVP, Sales, Customer Experience & Real Estate | Aug 2007 – Jan 2016 | Led sales/real estate; multi-year store ops and CX remit. |
| Bath & Body Works (L Brands) | Executive roles | Not specified | Various leadership roles in specialty retail. |
| Gap Inc.; The Walt Disney Company | Sales/Operations roles | Not specified | Early career retail/consumer operations. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Neeley School of Business, Texas Christian University | Board Member | Not specified | Academic board service. |
| Tandy Leather Factory, Inc. (public) | Director | 2017 – 2022 | No current public company directorships. |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board determined Leite is independent (SEC/Nasdaq). |
| Board/Committee Attendance | FY25: Board held 8 meetings; no director attended <75% of Board and committee meetings; all directors attended the 2024 annual meeting. |
| Committee Assignments (FY25) | Compensation Committee Chair (appointed April 2024); members: Leite (Chair), McLallen, Grafer, Mehra, Romig. |
| Other Committees (FY25) | Audit Committee member (Chair: McLallen; members: McLallen, Leite, Mehra). |
| Nominating & Governance | Served during FY25 then stepped down in April 2024 (current members include Romig (Chair), Heyer, McLallen; Leite stepped down). |
| Committee Meetings (FY25) | Audit: 4; Compensation: 5; Nominating & Governance: 4. |
| Compensation Interlocks | None; no executive officer interlocks with companies where Lovesac executives serve. |
| Related Parties | Governance highlights state there are no related party transactions with directors/officers. Audit Committee reviews related party transactions. |
| Governance Policies | Director stock ownership guidelines; director resignation policy; clawback (Dodd‑Frank‑compliant); insider trading policy restricting hedging/pledging without Board approval. |
Fixed Compensation (Director)
| Component (FY25) | Amount/Terms |
|---|---|
| Annual Board Cash Retainer | $75,000. |
| Committee Chair Retainer (Compensation) | $10,000 per year for Compensation Committee Chair. |
| Leite – Fees Earned (FY25) | $80,852 (reflects Board retainer plus chair/membership fees, pro‑rata as applicable). |
| Meeting Fees | None (not disclosed). |
| Reimbursements | Reasonable travel/out‑of‑pocket expenses reimbursed. |
Performance Compensation (Director equity)
| Grant Type | Grant Date | Target Value | Shares/Status | Vesting/Notes |
|---|---|---|---|---|
| Annual Director RSU Grant | June 11, 2024 | $125,000 | Included in $125,000 stock awards line; Leite elected to defer receipt. | Vests in full one year from grant; deferrable under plan (settles at separation or change in control). |
| Aggregate Unvested RSUs (as of Feb 2, 2025) | N/A | N/A | 4,808 RSUs (includes deferred). | Vests per grant terms; subject to continued service. |
Note: Director equity is time‑based RSUs; no performance metrics are tied to director awards.
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Notes |
|---|---|---|
| Current public boards | None | No current public interlocks. |
| Prior public boards | Tandy Leather Factory, Inc. (2017–2022) | No disclosed conflicts with Lovesac counterparties. |
| Private/academic | Neeley School of Business (TCU) board | Non‑profit/academic; not a counterparty. |
Expertise & Qualifications
- Deep retail leadership across CEO/President roles; omnichannel, ecommerce, merchandising, real estate, and marketing expertise directly aligned with Lovesac’s DTC/showroom strategy.
- Education includes MBA (Jack Welch Management Institute); prior studies at Loyola University, Kent State University, and Delgado College.
- Serves on Audit and chairs Compensation, bringing operating rigor to incentive design and risk oversight alongside finance-literate committee composition.
Equity Ownership
| Holder | Outstanding Shares | RSUs/Options Counted* | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Sharon M. Leite | 16,158 | 4,808 RSUs | 20,966 | <1% |
- Director ownership guideline: 3x annual cash retainer within 5 years; all directors are in compliance or on track.
- Hedging/pledging: Prohibited without prior Board approval under insider trading policy; no pledging disclosed for Leite.
Governance Assessment
- Strengths: Independent director with multi‑decade omnichannel retail operating expertise; active committee leadership (Comp Chair) and cross‑committee service (Audit), supporting board effectiveness and risk oversight; strong governance framework (stock ownership guidelines, clawback, anti‑hedging/pledging), no related‑party transactions, and acceptable attendance.
- Watch items: As Compensation Committee Chair, Leite oversaw discretionary compensation outcomes in FY25—AIP formulaic results were 0% on net sales and adjusted EBITDA, but the committee exercised discretion to pay 40% and also granted separate discretionary bonuses to NEOs, citing strategic brand‑protective pricing and execution achievements. Discretionary payouts despite miss can draw investor scrutiny on pay‑for‑performance alignment; continued transparency on rationale and forward metrics will be important.
- No red flags observed on conflicts, interlocks, or related‑party exposure; no tax gross‑ups or executive perquisites disclosed in the program (positive governance signal).