George H. Ellis
LIQUIDITY SERVICESAbout George H. Ellis
Independent director of Liquidity Services, Inc. (LQDT) since May 2010; age 75; Class II director with current term expiring in 2026 . Ellis brings deep CFO and operating experience across software, technology, and healthcare services, currently serving as CFO of Accumen Inc. (since Nov 2020), with prior senior roles at Huron Consulting, Studer Group, Global 360, Softbrands, Sterling Software, and Sterling Commerce . He holds a B.S. from Texas Tech University and a J.D. from SMU Dedman School of Law, is a Certified Public Accountant, admitted to the State Bar of Texas, a NACD Board Leadership Fellow, and certified in Cyber Security for Board Members through NACD .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Accumen Inc. | Chief Financial Officer | Nov 2020–present | CFO oversight in health system performance optimization |
| Huron Consulting, Inc. | Managing Director, Healthcare | 2015–2020 | Led healthcare practice operations and client delivery |
| Studer Group | Chief Financial Officer | Sep 2011–Feb 2015 | PE-backed healthcare consulting; finance leadership |
| Global 360, Inc. | Chief Financial Officer | Jul 2006–Aug 2011 | Software development; finance leadership |
| Softbrands, Inc. | Director; Chairman; Chief Executive Officer | Director Oct 2001–Aug 2009; Chairman Oct 2001–Jun 2006; CEO Oct 2001–Jan 2006 | Oversaw board and operations in enterprise software |
| NEON Systems, Inc. | Director | Jan 2000–Dec 2005 | Public software company board service |
| PeopleSupport, Inc. | Director | Oct 2004–Oct 2008 | Public BPO company board service |
| Blackbaud, Inc. | Director | Mar 2006–Jun 2024 | Public SaaS nonprofit software; long-tenured board service |
| AremisSoft Corp. | Director; Chairman & CEO | Director Apr 1999–Feb 2001; Chairman & CEO Oct 2001–Jul 2002 | Leadership through transformation |
| Sterling Software, Inc. | Chief Financial Officer | Not disclosed | Enterprise software; finance leadership |
| Sterling Commerce, Inc. | Founder & Chief Financial Officer | Not disclosed | Spin-off of Sterling Software; finance/business build-out |
| Communities Foundation of Texas | Executive Vice President & COO | Not disclosed | Nonprofit operations leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Blackbaud, Inc. | Director | Mar 2006–Jun 2024 | U.S. public company board service |
| Softbrands, Inc. | Director; Chairman; CEO | 2001–2009 | U.S. public company; multiple leadership roles |
| NEON Systems, Inc. | Director | 2000–2005 | U.S. public company |
| PeopleSupport, Inc. | Director | 2004–2008 | U.S. public company |
| AremisSoft Corp. | Director; Chairman & CEO | 1999–2002 | U.S. public company; executive role |
Board Governance
- Independence: Determined independent under Nasdaq standards; 71% of LQDT directors are independent, including Ellis .
- Committee assignments: Audit Committee (member) and Governance Committee (member) .
- Audit Committee financial expert: The Board designated Ellis as an “audit committee financial expert” under Sarbanes-Oxley Item 407 .
- Attendance: Board met 6 times in FY2024; Audit Committee met 4 times; Governance Committee met 4 times; each director attended at least 75% of Board and committee meetings .
- Lead Independent Director: Beatriz V. Infante (role includes setting executive session agendas, CEO evaluation coordination) .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Retainer Fees (Paid in Cash) | $59,000 | Actual cash paid for 2024 to Ellis |
| General Board Service — Cash Retainer (policy) | $45,000 | Standard annual cash retainer |
| Audit Committee — Non-Chair Cash Retainer (policy) | $10,000 | Annual committee member fee |
| Governance Committee — Non-Chair Cash Retainer (policy) | $4,000 | Annual committee member fee |
2024 committee fee increases were effective April 1, 2024 .
Performance Compensation
| Equity Award | Grant Date | Shares | Grant-date Fair Value | Vesting |
|---|---|---|---|---|
| Director RSUs (annual grant) | Mar 11, 2024 | 9,306 | $165,000 | One-year cliff vest on Mar 11, 2025, subject to service |
- 2024 design change: Non-employee directors received equity exclusively as RSUs (no options), aligning with market practice; total annual target increased to $210,000 with equity portion at $165,000 .
- No performance metrics are tied to director equity; RSUs are time-based only .
Other Directorships & Interlocks
| Company | Overlap/Conflict Potential | Notes |
|---|---|---|
| Blackbaud, Inc. | None disclosed | Historical board tenure; no LQDT related-party ties disclosed |
| Softbrands/NEON/PeopleSupport/AremisSoft | None disclosed | Historical roles; no current LQDT transactions disclosed |
- Related party transactions: Company reports no related party transactions since the beginning of FY2024; Audit Committee reviews any such transactions per charter .
Expertise & Qualifications
- Financial/accounting expertise; designated audit committee financial expert .
- Senior leadership (CEO, CFO) across software and services; public company board service experience .
- Media/technology experience relevant to LQDT’s online marketplaces .
- Credentials: CPA; State Bar of Texas; NACD Board Leadership Fellow; NACD Cybersecurity certification .
- Education: B.S. Texas Tech University; J.D. SMU Dedman School of Law .
Equity Ownership
| Item | Amount/Status |
|---|---|
| Total beneficial ownership (common shares) | 13,902 (<1% of outstanding) |
| Unvested RSUs held (as of 9/30/2024) | 9,306 (scheduled to vest 3/11/2025) |
| Options (exercisable/unexercisable) | None as of record date; no options exercisable within 60 days |
| Shares pledged as collateral | None disclosed (pledging noted only for CEO with Board approval) |
| Director stock ownership guideline | 5x annual cash retainer; 5-year compliance window |
| Guideline compliance status | Each non-employee director has satisfied or is on track |
| Anti-hedging policy | Directors prohibited from hedging Company stock |
Insider Trades
| Transaction Date | Filing Date | Type | Notes |
|---|---|---|---|
| Feb 27, 2024 | Mar 13, 2024 | Sale | Form 4 filed late due to administrative oversight (no share/amount detail disclosed) |
Governance Assessment
- Strengths: Independent director with extensive CFO and public board experience; designated audit committee financial expert; active on Audit and Governance Committees; attendance at or above Company threshold; compensation structure aligns with investors via majority equity (time-based RSUs) and modest cash retainers .
- Alignment: Holds common shares and unvested RSUs; subject to robust director stock ownership and anti-hedging policies; Company reports no related party transactions, mitigating conflict risk .
- RED FLAGS: One late Form 4 filing for a sale on Feb 27, 2024 (filed Mar 13, 2024); administrative oversight noted—minor but relevant to compliance monitoring .
- Overall: Board effectiveness supported by Ellis’s finance expertise and committee roles; compensation mix and ownership policies reinforce investor alignment; low conflict exposure per disclosures, with minor compliance timing issue flagged .