Michael J. Angelakis
About Michael J. Angelakis
Independent director since 2021 (age 61), Michael J. Angelakis chairs the Nominating and Corporate Governance Committee at Lucky Strike Entertainment (LUCK). He is Chairman & CEO of Atairos and a Senior Advisor to Comcast’s Executive Management Committee, previously serving as Comcast’s Vice Chairman and CFO; earlier roles include Managing Director at Providence Equity Partners and CEO of State Cable TV Corporation and Aurora Telecommunications. He is currently a director of Exxon Mobil (Finance Committee Chair; Audit; Executive), TriNet, and American Express, and has served on several prior public boards; the LUCK Board deems him independent under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Comcast Corporation | Vice Chairman & CFO; EVP & CFO | 2007–2015 | Led strategic, financial, administrative areas; recognized by Institutional Investor as “America’s Best CFO” in 6 of 8 years |
| Providence Equity Partners | Managing Director; member of Management & Investment Committees | Prior to Comcast (1999–2007 cited historically) | Global TMT investing |
| State Cable TV Corporation; Aurora Telecommunications | Chief Executive Officer | Prior to Providence | Operational leadership in cable/telecom |
| Manufacturers Hanover Trust (London/New York) | Vice President | Prior to CEO roles | Built acquisition finance and merchant banking activities in Western Europe; oversaw media/communications portfolio |
External Roles
| Company | Role | Committees |
|---|---|---|
| Exxon Mobil Corporation | Independent Director | Finance (Chair), Audit, Executive |
| American Express Company | Director (effective Mar 3, 2025) | Audit & Compliance; Nominating, Governance & Public Responsibility |
| TriNet Group, Inc. | Director | Nominating & Corporate Governance; Compensation & Human Capital Management |
| Prior: Clarivate Plc | Director (through May 7, 2025) | — |
Board Governance
- Committee roles: Chair, Nominating & Corporate Governance; Board designates fully independent Audit, Compensation, and Nominating & Corporate Governance committees .
- Independence: LUCK identifies Angelakis as an independent director under NYSE rules .
- Attendance and engagement: Board met 4 times in FY2025; each committee met 4 times; all current directors attended ≥75% of board and committee meetings of which they were members; directors are encouraged to attend the annual meeting .
- Lead Independent Director: John A. Young serves as Lead Director, presiding over executive sessions of independent directors and acting as liaison with the Chair .
- Controlled company context: LUCK is a “controlled company” under NYSE rules (Mr. Shannon controls >50% of combined voting power), though the company states it is not currently availing itself of exemptions; this context affects minority shareholder protections .
- Stockholders Agreement: Atairos and Mr. Shannon have director designation rights contingent on ownership thresholds (≥15%: three designees; 5–<15%: one designee), shaping board composition and potential interlocks .
- Policy safeguards: Prohibition on hedging and pledging company securities absent pre-approval; applies to directors, officers, employees .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (Non-Employee Director) | $85,000 | Payable quarterly; can be deferred or taken in stock |
| Committee chair fee (Nominating & Corporate Governance Chair) | $15,000 | Annual chair fee |
| Fees earned (FY2025) | $100,000 | Angelakis total cash fees for FY2025 |
| Deferral elections | — | Directors may defer cash to separation or change-in-control; can elect to receive retainers in Class A shares, current or deferred |
- Assignment to Atairos: Angelakis directed his board cash compensation to Atairos Management, L.P., and his director RSU grants are automatically assigned to Atairos Management, L.P. immediately after grant .
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant Date Fair Value | Vesting | Terms |
|---|---|---|---|---|---|
| Director RSUs (annual grant) | Dec 10, 2024 | 10,727 | $130,000 (at $12.12 per share) | Vests at next annual meeting (Dec 9, 2025) | Accelerates on change in control, death or disability; shares deliver at vesting unless deferred; Angelakis’ RSUs assigned to Atairos Management, L.P. |
- Structure change: The annual director equity grant was increased from $105,000 to $130,000 starting FY2025; the $210,000 initial grant for new directors was eliminated in 2024; cash retainers held flat .
Other Directorships & Interlocks
- Atairos-related exposure: LUCK is party to transactions with A-B Parent LLC (Atairos) noted in compensation committee interlocks and related-party sections; director designation rights under the Stockholders Agreement link Angelakis (Atairos leader) to governance processes .
- Indemnification: LUCK maintains separate indemnification agreements for directors .
Expertise & Qualifications
- Extensive financial expertise and multi-industry board experience; recognized CFO track record at Comcast; private equity investing experience; regulatory and risk oversight through roles including Chair of the Federal Reserve Bank of Philadelphia .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A Outstanding | Combined Voting Power % | Notes |
|---|---|---|---|---|
| A-B Parent LLC (Atairos) | 72,548,981 | 79.9% | 10.6% | Includes 63,502,810 Class A and 9,024,717 Class A issuable upon conversion of 105,000 preferred shares; also 21,454 RSUs held by Atairos Management, L.P. vesting at Dec 9, 2025; Angelakis controls voting power of APGP, the GP of Atairos Partners |
| Michael J. Angelakis | 72,548,981 | 79.9% | 10.6% | Listed as beneficial owner due to control relationships with Atairos entities |
- Policy: LUCK prohibits hedging and pledging of company securities without pre-approval (applies to directors) .
- Director RSU assignment: Angelakis’ director RSUs are automatically transferred to Atairos Management, L.P. immediately after grant .
Governance Assessment
- Positives: Independent status affirmed; chair of Nominating & Corporate Governance; attendance ≥75% with regular committee meetings; robust anti-hedging/pledging policy; majority-independent board with fully independent key committees; strong financial oversight credentials; director equity moved to competitive-median levels and simplified (no initial grant) .
- Risks/Red flags: Controlled company status reduces minority protections; material related-party exposure via Atairos (major holder) with director designation rights; Angelakis chairs governance while being the leader of a controlling holder affiliate and assigning his director pay/RSUs to Atairos—heightened conflict-of-interest risk requiring transparent recusal and rigorous related-party review (audit committee policy exists) .
- Time commitments: Holds major external roles (Exxon Mobil committee chair; AXP and TriNet committee memberships); LUCK guidelines cap “other” public boards at three and audit committee memberships at two—Angelakis appears within these limits (three other boards; two audit committees), but workload warrants monitoring for board effectiveness .