James Alexander
About James Alexander
James Alexander (age 63) is an independent director of The Marygold Companies, Inc. (MGLD) since 2023, with over 30 years in capital markets sales and trading across major banks and regional firms. He is currently Managing Director, Taxable Fixed Income at Siebert Williams Shank, leading the Chicago office and Midwest expansion, and previously held senior roles at KeyBanc Capital Markets, Wells Fargo Securities, and Bank of America Securities; he holds an MBA from Northwestern University’s Kellogg School of Management and a BA from Morehouse College . The Board cites his capital markets expertise and leadership experience as core credentials for his service .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Siebert Williams Shank | Managing Director, Taxable Fixed Income; leads Chicago office and Midwest expansion | Current | Leads regional growth; senior fixed-income sales leadership |
| KeyBanc Capital Markets | Senior Director, Taxable Fixed Income Group; drove ~20% revenue increase in Structured Products (MBS) Trading | 2015–2023 | Revenue growth and expansion into structured product trading |
| Wells Fargo Securities LLC | Institutional Sales (Taxable Fixed Income) | Prior to 2015 | Top producer in institutional sales |
| Bank of America Securities LLC | Principal, Taxable Fixed Income Institutional Sales | Early career | Institutional sales leadership |
| All Jokes Aside Comedy Club (Chicago/Detroit) | Founder/Owner | 10 years | Cultural platform for comedians of color |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Edward G. Irvin Foundation | Board Member; Chairman of Scholarship Committee | Current | Foundation has awarded >$500,000 in scholarships to >250 students |
Board Governance
- Committee assignments: Audit Committee member (Derek Mullins, Chair; members James Alexander, Erin Grogan) .
- Independence: Board determined all Audit Committee members meet NYSE American independence criteria; MGLD is a “controlled company” exempt from certain NYSE American requirements (majority-independent board, fully independent comp/nom committees) due to >50% voting power held by two insiders via a voting agreement .
- Attendance: FY2025—four formal board meetings, eight actions by written consent; all directors attended >75% of board/committee meetings; independent directors meet at least annually in executive session without management . FY2024—four board meetings; all current directors attended all board meetings .
- Election outcomes: At the 2025 AGM, Alexander received 35,608,471 votes “For,” 145 “Against,” 0 abstentions (68,488 broker non-votes), indicating strong support .
Fixed Compensation
| Component | FY2025 Amount ($) | Notes |
|---|---|---|
| Annual Cash Retainer | 24,000 | Paid quarterly to independent directors |
| Equity (Restricted Stock Awards) | 5,000 | RSAs under 2021 Omnibus Plan; valued at closing price on grant date; generally issued within 30 days of annual meeting; vest monthly over 12 months |
| Options | 0 | No options granted; officers/directors did not own options as of June 30, 2025 |
| Meeting/Committee Fees | Not disclosed | No separate fees disclosed in proxy |
Performance Compensation
| Performance-linked Element | Status | Evidence |
|---|---|---|
| Non-Equity Incentive Plan Compensation | None disclosed for directors | Compensation table shows “–” (no non-equity incentive plan compensation) |
| Performance Metrics (TSR, EBITDA, ESG) tied to director pay | Not disclosed | Director compensation narrative does not specify performance metrics for directors |
Clawback: Company adopted compensation recoupment policy for executives tied to accounting restatements under NYSE standards; policy scope described for current/former executives (director-specific application not stated) .
Other Directorships & Interlocks
- Public company boards: None for Alexander; proxy states no directors hold other public company directorships except Nicholas Gerber’s prior roles at USCF/USCF ETF Trust .
- Controlled company and voting agreement: Concentrated control (approx. 54.3% voting power in 2025) via Gerber/Schoenberger trusts; directors elected under voting agreement framework, a structural governance factor .
Expertise & Qualifications
- Education: MBA, Kellogg School of Management (Northwestern University); BA, Morehouse College .
- Technical/industry: 30+ years in fixed income capital markets, structured products (MBS) trading, institutional sales leadership .
- Leadership/community: Founder of cultural enterprise; scholarship committee leadership and philanthropic impact .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| James Alexander | 2,821 | <1% | Independent directors each entitled to $5,000 in stock annually; RSAs vest monthly |
- Hedging/pledging: Directors and executive officers prohibited from hedging, short sales, derivatives, and pledging company stock .
- Options: None held by officers/directors as of June 30, 2025 .
Governance Assessment
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Strengths:
- Independent Audit Committee membership and regular executive sessions improve oversight; Alexander’s fixed income expertise aligns with audit and risk review needs .
- Strong shareholder support for Alexander’s election in 2025 (35,608,471 For vs. 145 Against), reinforcing investor confidence in the board slate .
- Transparent director compensation structure, modest cash/equity mix, and monthly vesting of RSAs; no options or performance-linked director pay that could encourage excessive risk-taking .
-
Watch items / potential conflicts:
- Controlled company status and a longstanding voting agreement concentrate power with two insiders, limiting minority shareholder influence on board composition and committees (exemptions from certain NYSE American independence requirements) .
- Related-party transaction: Sale of Brigadier Security Systems to an entity led by director Schoenberger; appropriately reviewed and approved by the independent Audit Committee, but remains a governance sensitivity area for perceived conflicts .
- Ongoing litigation associated with USCF/USO subsidiaries underscores enterprise risk; while not naming Alexander, oversight demands vigilance at the Audit Committee level .
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Shareholder feedback signals:
- 2024 say‑on‑pay passed overwhelmingly (33,945,395 For; 1,309 Against; 5 Abstained), and shareholders selected a triennial frequency (28,323,398 For every three years), suggesting broad support for compensation governance at that time .