Richard Paul
Live Nation EntertainmentAbout Richard A. Paul
Richard A. “Rich” Paul (age 44) has served as an independent director of Live Nation Entertainment since April 2023. He is the Chief Executive Officer and founder of KLUTCH Sports Group (founded 2012), serves as United Talent Agency’s (UTA) Head of Sports and an agency partner, and joined UTA’s Board of Directors in 2020. He is credited with helping reverse the “Rich Paul Rule” at the NCAA and has been recognized by GQ, Sports Illustrated, TIME, and Variety for industry influence. Other current roles noted include minority partner of The SpringHill Company and involvement with ADOPT (formed 2021). Other public directorships: Designer Brands Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KLUTCH Sports Group | Founder & Chief Executive Officer | 2012–present | Built a leading sports agency; industry recognition for influence |
| NCAA policy engagement | Advocate | Prior to 2020 | Credited with helping reverse the “Rich Paul Rule” restricting agents without college degrees |
| ADOPT (creative agency) | Co-founder | 2021–present | Focused on sport, wellness, nutrition, tech, consumer products |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| United Talent Agency (UTA) | Head of Sports; Agency Partner; Director | Head of Sports (current); Board since 2020 | Privately held; Paul is on UTA’s Board of Directors |
| Designer Brands Inc. | Director (public company) | Current | Listed as an “Other Public Directorship” |
| Funko, Inc. | Strategic Advisor; Director (joined 2022) | Current | Public company; strategic advisor; joined Board in 2022 |
| LACMA | Board of Trustees | Joined 2022 | Non-profit; Board of Trustees member |
| The SpringHill Company | Minority Partner | Current | Media/entertainment venture partner interest |
Board Governance
- Independence: The Board has determined Richard A. Paul is independent under NYSE and company guidelines .
- Committee assignments (2024/2025): No current assignments on Audit, Nominating & Governance, Compensation, or Executive Committees .
- Board attendance/engagement: The Board met four times in 2024; all incumbent directors attended at least 75% of aggregate Board and committee meetings during their service. Nine of eleven directors attended the 2024 annual meeting. Executive sessions of non-management directors are presided over by the non-executive Chair (Randall Mays) .
- Governance practices relevant to investors: Majority voting for directors; annual elections; robust ownership guidelines; clawback; prohibition on hedging and pre-approval for pledging; committee members (other than Executive Committee) are all independent .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $100,000 | Standard for all non-employee directors |
| Committee member retainers | Audit $21,000; Comp $15,000; Nominating $10,000 | Not applicable to Paul (no current committee roles) |
| Committee chair retainers | Audit Chair $18,000; Comp Chair $15,000; Nominating Chair $10,000 | Not applicable to Paul |
| Non-executive Chair retainer | $60,000 | Not applicable to Paul |
2024 Director Compensation (actual reported for Paul):
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Richard A. Paul | $100,000 | $188,362 | $288,362 |
Performance Compensation
| Equity Component | Grant Policy/Value | Vesting/Structure | Notes |
|---|---|---|---|
| Annual restricted stock grant (non-employee director) | $200,000 in shares (plan value based on 20-day avg price) | Restricted stock vests in full on the first anniversary of grant (or first anniversary of on-cycle grants for off-cycle awards) | ASC 718 fair value may differ from plan value |
| 2024 reported stock award (Paul) | $188,362 (ASC 718 grant-date fair value) | As above (annual restricted stock) | No additional discretionary stock grants to directors in 2024 |
No director options or performance shares are disclosed for non-employee directors; director equity is service-based restricted stock, aligning compensation with shareholder value via share price and retention-based vesting .
Other Directorships & Interlocks
| Company/Institution | Type | Role | Potential Interlock/Notes |
|---|---|---|---|
| Designer Brands Inc. | Public | Director | Only public company directorship listed for Paul |
| United Talent Agency | Private | Director; Head of Sports; Partner | Talent agency; not listed as a related-party transaction with LYV |
| Funko, Inc. | Public | Strategic Advisor; Director (joined 2022) | External public-company role; no LYV related-party disclosure noted |
| LACMA | Non-profit | Trustee | Non-profit role |
Expertise & Qualifications
- Founder/CEO operator with deep sports and entertainment market knowledge; recognized for industry influence (GQ “PowerBroker,” Sports Illustrated “The King Maker,” TIME100 Most Influential Companies for KLUTCH, Variety500) .
- Governance skill set: Prior senior executive-level roles, entrepreneurial background, service on other public and private boards; broad network in sports/media that can support Live Nation’s ecosystem .
- Policy and advocacy experience evidenced by his role in the reversal of the NCAA “Rich Paul Rule” .
Equity Ownership
| Holder | Common Stock | Exercisable Options | Restricted Stock Unvested | Other | Total Beneficial Ownership | % Outstanding |
|---|---|---|---|---|---|---|
| Richard A. Paul | 2,813 | — | 2,115 | — | 4,928 | * (≤1%) |
- Ownership guidelines for directors: Minimum equity equal to 5x annual cash retainer ($500,000) to be achieved within three years of becoming a director. Paul joined in April 2023; the guideline window runs to 2026. Company policy prohibits hedging and requires pre-approval for any pledging by directors and executive officers .
- Pledging/hedging: No pledge disclosures are indicated for Paul in the ownership table; company policy prohibits hedging and requires preapproval for any pledging .
Governance Assessment
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Strengths for investor confidence:
- Independent director with extensive domain expertise and industry network in sports/entertainment; aligns with Live Nation’s ecosystem .
- Director pay structure emphasizes equity via annual restricted stock; Paul’s 2024 mix of $188,362 equity vs $100,000 cash supports alignment with shareholders. RS awards vest over one year, reinforcing service continuity .
- Board-level guardrails: majority voting for directors, robust ownership guidelines, clawback policy, prohibition on hedging and controlled pledging, and fully independent standing committees (other than Executive Committee) .
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Watch items and potential conflicts:
- External roles at UTA, Funko, and The SpringHill Company could lead to ecosystem overlaps; however, the proxy’s related-party section lists no Paul-specific related-party transactions. The Audit Committee reviews/approves any related-person transactions under a defined policy .
- Committee influence: Paul currently holds no Board committee roles, which limits direct influence over audit, compensation, or nominating processes relative to peers on those committees .
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Attendance and engagement:
- The Board met four times in 2024; all incumbent directors met the 75% attendance threshold, with nine of eleven attending the annual meeting—indicative of baseline engagement standards being met across the Board cohort .
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RED FLAGS:
- None disclosed specific to Paul (no low attendance, no related-party transactions, no hedging/pledging disclosures). Company-wide policies mitigate alignment risks (no hedging, pledging controls) .
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Overall: Paul brings strategic reach and operator experience in sports/entertainment with independent status and equity-based director compensation supporting alignment. Continued monitoring for any business intersections with UTA/SpringHill/Funko and for progress toward meeting stock ownership guidelines by 2026 is warranted under the company’s related-party oversight and ownership policies .