George T. Shaheen
Marcus & MillichapAbout George T. Shaheen
George T. Shaheen (age 80) is an independent director of Marcus & Millichap, Inc. since 2013, serving on the Audit, Compensation, and Nominating & Corporate Governance Committees . He holds a B.S. in marketing and an M.B.A. in management from Bradley University . His core credentials include prior CEO roles at Andersen Consulting (now Accenture), Webvan, and Siebel Systems, and significant board/advisory experience across technology and financial services .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Andersen Consulting (Accenture) | CEO & Global Managing Partner | 1988–1999 | Led global growth; senior executive experience |
| Webvan Group, Inc. | CEO & Chair of the Board | Oct 1999–Apr 2001 | Operating leadership; e-commerce scaling |
| Siebel Systems, Inc. | CEO | Apr 2005–Jan 2006 | Led through sale; CRM industry expertise |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| [24]7.ai | Director | Current | Technology/AI customer engagement |
| Green Dot Corporation | Director | Current | Public fintech; also director of Green Dot Bank |
| Andersen Global LLC | Advisor | Current | International tax/legal advisory |
| Northwestern Univ. Kellogg GSM | Board of Advisors | Prior | Business school advisory |
| Bradley University | Board of Trustees | Prior | University governance |
Board Governance
- Independence: Board determined Shaheen is independent under NYSE and SEC rules .
- Committee memberships and leadership:
- Audit Committee (members: Lawrence—Chair, Martin, Shaheen, Watters; 4 meetings in 2024)
- Compensation Committee (members: Watters—Chair, McClanahan, Shaheen; 5 meetings in 2024)
- Nominating & Corporate Governance Committee (members: McClanahan—Chair, Dixon, Lawrence, Shaheen; 4 meetings in 2024)
- Attendance: Board held 5 meetings in 2024; no director attended fewer than 75% of meetings, and average Board/committee attendance was 100% .
- Board structure: Six of eight directors are independent; company has a Lead Independent Director, separate Chair/CEO, independent standing committees, regular executive sessions .
| Governance Attribute | Detail |
|---|---|
| Director since | 2013 |
| Independence | Independent |
| Committees | Audit; Compensation; Nominating & Corporate Governance |
| 2024 Board meetings | 5 |
| 2024 Committee meetings | Audit: 4; Compensation: 5; Nominating & CG: 4 |
| Attendance | No director <75%; average 100% |
| Board independence | 6 of 8 independent; Lead Independent Director in place |
Fixed Compensation
- Policy components (annual cash, paid quarterly):
- Board member cash retainer: $65,000
- Committee member fees: Audit $10,000 (member), Compensation $5,000 (member), Nominating & CG $5,000 (member)
- 2024 cash earned: $85,000 (sum of $65,000 retainer + $10,000 Audit + $5,000 Compensation + $5,000 Nominating & CG)
- Compensation limit: Stockholder-approved $500,000 cap on director cash + equity per fiscal year
| Component | Amount ($) | Basis |
|---|---|---|
| Board retainer (cash) | 65,000 | Annual |
| Audit Committee member fee | 10,000 | Annual |
| Compensation Committee member fee | 5,000 | Annual |
| Nominating & CG Committee member fee | 5,000 | Annual |
| 2024 Cash Earned | 85,000 | Reported in Director Compensation Table |
Performance Compensation
- Equity mix: Emphasis on equity; fixed-value annual restricted stock grant; one-year vesting; no performance awards or perquisites .
- 2024 grant: 2,303 restricted shares on May 2, 2024, grant-date fair value $74,986 (2,303 × $32.56 closing price) .
- Vesting: Earlier of one year from grant or next annual meeting; as of Dec 31, 2024, 2,303 RSUs outstanding subject to vesting; scheduled vest date noted as May 1, 2025 in beneficial ownership footnote .
- Change-in-control/death/disability: Director restricted stock fully accelerates upon change in control; vests in full upon death or disability after ≥1 year of service .
| Equity Award | Grant Date | Shares | Grant-Date Fair Value ($) | Vesting Trigger | Performance Criteria |
|---|---|---|---|---|---|
| Restricted Stock | May 2, 2024 | 2,303 | 74,986 | Earlier of 1-year or next annual meeting; scheduled vest May 1, 2025 | None; time-based (no performance awards) |
Other Directorships & Interlocks
| Company | Listed/Private | Role | Potential Interlock Notes |
|---|---|---|---|
| Green Dot Corporation | Listed | Director | Fintech; no disclosed related-party ties to MMI |
| Green Dot Bank | Bank subsidiary | Director | Bank governance; no disclosed ties to MMI |
| [24]7.ai | Private | Director | Tech/AI; no disclosed ties to MMI |
| Andersen Global LLC | Private | Advisor | Advisory; no disclosed ties to MMI |
No related-party transactions involving Shaheen were disclosed for 2024; related party items with Marcus & Millichap Company (MMC) cover services, brokerage fees, and a lease, not tied to Shaheen .
Expertise & Qualifications
- Senior CEO/operating leadership across consulting, e-commerce, and enterprise software .
- Board/advisory experience in technology and financial services; governance roles in academia .
- Education: B.S. (Marketing) and M.B.A. (Management), Bradley University .
- Committee breadth: service on Audit, Compensation, and Nominating & Governance; strong governance exposure .
Equity Ownership
| Holder | Shares Beneficially Owned (No.) | Percent of Outstanding | Notable Details |
|---|---|---|---|
| George T. Shaheen | 24,070 | <1% (indicated “*”) | Includes 1,800 shares held by The Shaheen Revocable Trust and 2,303 shares issuable upon vesting on May 1, 2025 ; shares outstanding 39,198,040 |
- Ownership guidelines: Each non-employee director must own ≥5× annual cash retainer within five years; retain 50% of vested shares until meeting threshold; all directors were in compliance as of March 12, 2025 .
- Hedging/pledging policy: Prohibits hedging, short selling, and pledging by directors and executives .
Governance Assessment
- Board effectiveness and engagement: Shaheen serves on three key committees (Audit, Compensation, Nominating & CG) with strong attendance (Board/committee average 100% in 2024), indicating high engagement and broad oversight exposure .
- Independence and conflicts: Independence affirmed; no related-party transactions involving Shaheen disclosed; director equity grants are time-based with no performance awards, consistent with market practice for non-employee directors .
- Pay and alignment signals: Cash retainer plus modest committee fees ($85,000 cash total) and fixed-value RSUs ($74,986) suggest balanced cash/equity mix; robust ownership guideline (≥5× retainer) and compliance across the board reinforce alignment; hedging/pledging prohibitions strengthen investor confidence .
- Committee structure quality: Independent chairs across all standing committees; Compensation Committee active (5 meetings) and broad remit over HCM and pay; Audit Committee oversight includes cybersecurity risk discussions, enhancing risk governance .
- RED FLAGS
- Potential policy inconsistency: Company highlights a policy prohibiting pledging, yet 3,500,000 shares beneficially owned via Phoenix (controlled by Chair George M. Marcus) are pledged as collateral—this is not attributed to Shaheen, but represents a broader governance oversight risk to monitor .
- No director performance awards: While normal for directors, lack of performance-conditioned equity may reduce direct pay-for-performance linkage; mitigated by ownership guideline compliance .
Overall, George T. Shaheen’s tenure, committee breadth, independence, attendance, and compliance with ownership guidelines support board effectiveness and investor alignment, with limited conflict exposure disclosed for him personally .