Kevin Rauckman
MGP INGREDIENTSAbout Kevin S. Rauckman
Independent Group A Director at MGP Ingredients, Inc. (since 2021), age 62. Owner and Financial Consultant at Rauckman Advisors, LLC; former CFO and Treasurer of Garmin Ltd., with SEC-designated audit committee financial expert credentials. Tenure at MGPI includes service on Audit and Human Resources & Compensation Committees and Chair of the Nominating & Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Garmin Ltd. | Chief Financial Officer & Treasurer | 1999–2014 | Led IPO; drove expansion via ~30 acquisitions; annual sales grew from ~$200M to nearly ~$3.5B . |
| Honeywell | Director of Finance | 1996–1998 | Corporate finance leadership . |
| Unisys | Corporate finance roles | 1988–1996 | Corporate finance experience . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| First Busey Corporation (NASDAQ: BUSE) | Director | 2025–present | Oversaw CrossFirst’s 2025 merger into First Busey; brings banking risk oversight expertise . |
| CrossFirst Bankshares, Inc. (NASDAQ: CFB) | Director; Audit Committee Chair | 2016–2025 | Audit leadership; bank risk oversight . |
| JE Dunn Construction Group, Inc. (private) | Lead Independent Director; Audit Committee Chair | 2017–present | Lead independent governance; audit oversight . |
Board Governance
- Committee assignments: Audit; Human Resources & Compensation; Chair of Nominating & Governance .
- Independence: Board determined all directors other than Mr. Lux are independent; Rauckman is independent .
- Attendance: In 2024 the Board met 11 times; Audit 8; HRC 9; Nominating & Governance 6; each then-serving director attended >75% of Board and applicable committee meetings; eight of nine directors attended last year’s annual meeting; independents held three executive sessions .
- Audit Committee Financial Expert: Board designated Rauckman an “audit committee financial expert” under SEC rules .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (Director program) | $75,000 | Paid quarterly . |
| Committee chair retainers (Director program) | Audit Chair: $15,000; HRC Chair: $10,000; N&G Chair: $8,000 | Paid quarterly . |
| Non-executive Chairman premium (Director program) | $70,000 | Paid quarterly . |
| Kevin Rauckman 2024 cash fees | $83,033 | Consistent with $75,000 retainer + $8,000 N&G Chair retainer . |
Performance Compensation
| Equity Award Type | Annual Value | Vesting | Performance Metrics Tied |
|---|---|---|---|
| Annual director equity grant (common stock) | $90,000 | Vests immediately on grant | None (director equity is time-based; no performance metrics) . |
| Kevin Rauckman 2024 stock awards | $89,967 | Grant-date fair value | Annual program; immediate vesting . |
Other Directorships & Interlocks
| Company | Relationship to MGPI | Potential Interlock/Conflict |
|---|---|---|
| First Busey (NASDAQ: BUSE) | Financial institution | No related-party transactions disclosed with Rauckman or First Busey . |
| CrossFirst Bankshares (NASDAQ: CFB) | Financial institution | No related-party transactions disclosed with Rauckman or CrossFirst . |
| JE Dunn Construction | Private contractor | No related-party transactions disclosed involving Rauckman . |
- Compensation Committee Interlocks: None disclosed (no MGPI executive serves on another company’s board/comp committee with reciprocal interlock) .
Expertise & Qualifications
- Finance and accounting leadership; public company CFO and capital markets experience; SEC audit committee financial expert .
- M&A and strategic planning track record, including Garmin IPO and acquisitive growth from ~$200M to ~$3.5B in sales .
- Boardroom leadership across banking and private construction, adding risk oversight and audit depth .
Equity Ownership
| Item | Detail |
|---|---|
| Common shares beneficially owned | 4,237 (<1%) . |
| Director stock ownership guideline | 3x annual cash retainer; five-year compliance window . |
| Compliance status | Each non-employee director has met guideline or is in phase-in as of March 21, 2025 . |
| Hedging/pledging | Prohibited; as of proxy date no directors or executives had shares pledged . |
Governance Assessment
- Board effectiveness: Rauckman’s audit expertise and chairing Nominating & Governance strengthen oversight of financial reporting, director selection, and board evaluation; his independent status supports objective oversight .
- Engagement: Attendance thresholds met across 2024; multiple executive sessions reflect active independent oversight .
- Alignment and incentives: Director pay mix balances cash retainer with equity; immediate vesting equity aligns interests without short-term performance gaming; stock ownership guidelines reinforce alignment, with compliance reported .
- Conflicts/related party: No related-party transactions disclosed involving Rauckman; director interlock concerns not indicated; Audit Committee oversees and pre-approves related-party transactions under formal policy .
- Signals for investor confidence: Strong Say-on-Pay support in 2024 (>94% preferred; >97% common) indicates shareholder confidence in overall compensation governance framework, reinforcing board credibility in pay decisions (context) .
RED FLAGS: None identified specific to Rauckman in the proxy; no hedging/pledging; no related-party transactions; no compensation interlocks .