Richard Born
About Richard Born
Richard Born (age 68) is an independent director of Lucky Strike Entertainment Corporation (formerly Bowlero Corp.), appointed in June 2025. He is a co‑founder of BD Hotels and a pioneering hospitality-focused real estate developer with over 35 years of experience; he holds indirect interests in ~25 hotels and ~20 other real estate properties and is directly involved in managing more than half of these assets, including iconic projects like Hotel Chelsea, the Bowery Hotel, the Mercer, and the Ludlow. He graduated from the NYU School of Medicine and completed three years of surgical residency. He serves on the Nominating and Corporate Governance Committee and has been determined independent under NYSE rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BD Hotels | Co‑Founder; hospitality real estate developer/operator | 35+ years in real estate development and management | Led/owned interests across marquee hotel assets (Hotel Chelsea, Bowery, Mercer, Ludlow) shaping hospitality in New York and other major markets |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| BD Hotels | Co‑Founder | Private | Indirect interests in ~25 hotels and ~20 other real estate properties; directly involved in operations of more than half |
| Other public company boards | — | — | None disclosed for Mr. Born in the proxy |
Board Governance
| Item | Detail |
|---|---|
| Board independence status | Born is independent under NYSE rules |
| Committee assignments | Nominating & Corporate Governance Committee (member) |
| Committee chair roles | None (NCG Committee chaired by Michael J. Angelakis) |
| Lead Independent Director | John A. Young |
| Board/committee meetings (FY2025) | Board: 4; Audit: 4; Compensation: 4; NCG: 4 |
| Attendance | Each current director attended at least 75% of Board and committee meetings of which they were a member during FY2025 |
| Board leadership | Combined Chair/CEO (Thomas F. Shannon) with a Lead Independent Director structure |
| Controlled company | Yes—>50% voting power controlled by Mr. Shannon; LUCK is a “controlled company” under NYSE rules; currently not availing exemptions but may do so in the future |
| Anti‑hedging/pledging | Hedging and pledging of Company securities prohibited without pre‑approval per Corporate Governance Guidelines and Securities Trading Policy |
| Board evaluations | Annual evaluations of Board, committees, and directors overseen by NCG committee |
Fixed Compensation (Non‑Employee Director Policy – FY2025)
| Component | Amount (USD) |
|---|---|
| Annual cash retainer (director) | $85,000 |
| Audit Committee Chair | $25,000 |
| Compensation Committee Chair | $20,000 |
| Nominating & Corporate Governance Committee Chair | $15,000 |
| Lead Independent Director | $40,000 |
Directors may elect to receive retainers in stock and may defer cash/stock to separation or change in control.
Performance Compensation (Directors)
| Component | Grant value | Vesting | Performance linkage |
|---|---|---|---|
| Annual RSU grant (each director) | $130,000 grant-date fair value | Vests on first anniversary or earlier at next annual meeting; accelerates on change in control/death/disability | Time-based; no performance metrics disclosed |
For FY2025, RSUs were granted on December 10, 2024 to then-serving non‑employee directors (10,727 RSUs each at $12.12 FV). Mr. Born joined in June 2025 and is not listed in the FY2025 Director Compensation Table.
Other Directorships & Interlocks
| Person | External public boards | Notable interlocks |
|---|---|---|
| Richard Born | None disclosed | None disclosed; no compensation committee interlocks reported for FY2025 |
Expertise & Qualifications
- Hospitality-focused real estate development and operations; direct operating involvement across numerous hotel assets (Hotel Chelsea, Bowery Hotel, Mercer, Ludlow).
- Governance contribution: service on Nominating & Corporate Governance Committee; board seeks directors with financial literacy, integrity, judgment, and time commitment consistent with guidelines.
Equity Ownership
| Holder | Class A Shares | Class B Shares | Derivatives/RSUs | Ownership notes |
|---|---|---|---|---|
| Richard Born | 0 | 0 | None disclosed | As of Oct 22, 2025, Born is not listed with beneficial ownership of Class A or B shares |
| Policy flags | — | — | — | Hedging/pledging restricted absent pre‑approval per governance policies |
Related-Party Transactions and Conflicts
- Company policy: Audit Committee must review/approve related-person transactions >$120,000; ongoing monitoring; pre‑approval process through General Counsel; only transactions in best interests of stockholders may be approved.
- Disclosures: Proxy lists no related‑party transactions involving Mr. Born since July 1, 2024; section provides general policies and summaries, but does not identify any Born‑related transactions.
- Independence determination: Born deemed independent by the Board under NYSE rules.
Director Compensation (Reported FY2025 context)
| Director | Fees Earned ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| (Born) | Not individually listed in FY2025 director compensation table following his June 2025 appointment | — | — |
| Reference (for peers): Angelakis | 100,000 | 130,000 | 230,000 |
| Reference (for peers): Bass | 110,000 | 130,000 | 240,000 |
Note: FY2025 director RSUs granted 12/10/2024 to then-serving directors (10,727 RSUs each). Mr. Born joined in June 2025 and is not among the listed recipients for FY2025.
Governance Assessment
-
Positives
- Independent director with deep hospitality real estate operating experience; adds customer experience and site development/domain insight relevant to location-based entertainment strategy.
- Assigned to Nominating & Corporate Governance Committee; Board maintains fully independent Audit, Compensation, and NCG committees; Lead Independent Director in place.
- Attendance: all current directors met at least 75% threshold in FY2025; supports baseline engagement.
- Anti‑hedging/pledging policy in place; annual Board/committee/director evaluations.
-
Watch items
- Controlled company: Majority voting power concentrated with CEO/Chair; while LUCK is not currently using exemptions, it may in the future—reducing some minority stockholder protections.
- Ownership alignment: Born reported no beneficial ownership as of the record date, which may signal lower near-term “skin‑in‑the‑game” vs peers; typical director equity comes via annual RSUs.
- Limited tenure (joined June 2025): need to monitor future attendance, equity ownership accumulation, and committee contributions over time.
-
No red flags disclosed
- No related‑party transactions involving Born disclosed; no Section 16(a) filing delinquencies noted for Born (one late Form 4 noted for an executive, not a director).