Linda J. Reiners
About Linda J. Reiners
Independent director at Momentus (MNTS) since August 2021; current Lead Independent Director and Chair of the Audit Committee, designated as an “audit committee financial expert.” Age 65; prior 20+ years in senior roles at Lockheed Martin Space Systems; B.S. Political Science (University of Idaho) and M.S. (Sloan Fellow) from Stanford GSB .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lockheed Martin Space Systems | President, Space Commercial Ventures; VP Strategy & Business Development; VP Missile Defense; VP Finance & Business Operations | 1999–2014 | Led commercial space ventures; strategy, finance and operations leadership |
| U.K. Seabed Resources (Lockheed Martin UK subsidiary) | COO and Director; led Corporate Strategic Ventures | 2014–2016 | JV with U.K. BEIS; oversaw strategic ventures |
| Casablanca Teas, LLC | Owner | Since April 2016 | Founder/owner of private company |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed in MNTS proxy |
Board Governance
- Roles: Lead Independent Director; Chair, Audit Committee; member independence affirmed under Nasdaq/SEC rules; Audit Committee financial expert designation .
- Committee composition: Audit (Reiners—Chair; Reed; Kugler) .
- Board structure: Classified board; Reiners is Class III, term expiring 2027 .
- Attendance: Board met 26 times in 2024; all directors attended at least 75% of Board meetings . The Audit Committee held seven meetings in 2024 .
- Lead Independent Director function formalized in Corporate Governance Guidelines because Chair/CEO is not independent .
- Hedging prohibited for directors under Insider Trading Policy (supports alignment) .
- Compensation Committee retained F.W. Cook in 2024; no additional services >$120k (mitigates consultant conflicts) .
Fixed Compensation
| Item | Amount | Period/Notes |
|---|---|---|
| Fees earned in cash by Reiners | $80,000 | FY2024 actual director fees |
| Policy: Annual Board retainer (all outside directors) | $100,000 | Paid quarterly; policy effective for non-employee directors |
| Policy: Lead Independent Director retainer | $30,000 | Additional to board retainer |
| Policy: Audit Committee Chair retainer | $30,000 | In lieu of audit committee member fee |
| Policy: Committee member retainers | $10,000–$20,000 | By committee (Audit $20k; Comp $15k; Disclosure $15k; Nominating $10k) |
Note: 2024 actual fees reflect amounts paid; equity awards to directors were not granted in 2024 per proxy .
Performance Compensation
| Grant/Transaction Date | Instrument | Shares/Units | Price/Fair Value | Vesting/Terms | Source |
|---|---|---|---|---|---|
| 2025-06-30 | RSUs (Award/Grant) | 16,294 | $0 (Form 4 award) | Annual director RSU awards vest at the earlier of 1 year or day before next annual meeting; policy also provides initial RSU valued at $350,000 and annual award sized as 0.128% of shares outstanding (award occurrence) | |
| 2025-06-30 | Class A Common Stock (Award) | 16,294 | $0 (Form 4 award) | Resulting common stock reflected post-award holdings; see Equity Ownership below | |
| 2024-11-01 | RSUs (M—Exempt, disposition on vest) | 2,400 | $0 | RSU vest/settlement; matched acquisition of common stock | |
| 2024-11-01 | RSUs (M—Exempt, disposition on vest) | 222 | $0 | RSU vest/settlement; matched acquisition of common stock | |
| 2024-11-01 | Class A Common Stock (M—Exempt, acquisition on vest) | 2,400 | $0 | Settlement of RSUs into common shares | |
| 2024-11-01 | Class A Common Stock (M—Exempt, acquisition on vest) | 222 | $0 | Settlement of RSUs into common shares |
Equity Plan clawback applies to awards; director RSUs accelerate on death, disability, or change in control per policy .
Other Directorships & Interlocks
- Current public company boards: None disclosed for Reiners in MNTS proxy .
- Interlocks: None disclosed; Compensation Committee Interlocks section notes no interlocks among MNTS executives/directors in FY2024 .
Expertise & Qualifications
- Audit Committee Financial Expert; extensive finance/operations leadership in aerospace and defense (Lockheed Martin) .
- Education: B.S. Political Science (University of Idaho); M.S. (Sloan Fellow), Stanford Graduate School of Business .
Equity Ownership
| Metric | Apr 3, 2025 | Jul 22, 2025 | Oct 10, 2025 |
|---|---|---|---|
| Beneficial ownership (shares) | 368 | 16,662 | 21,441 |
| Percent of outstanding | <1% | <1% | <1% |
Methodology per SEC Rule: includes shares acquirable within 60 days via options/RSUs; no pledging disclosed; business address c/o Momentus, San Jose, CA .
Insider Trades (last 24 months)
| Transaction Date | Type | Security | Shares | Price | Post-Txn Ownership | Filing URL |
|---|---|---|---|---|---|---|
| 2025-06-30 | A—Award | RSUs | 16,294 | $0 | 16,294 (RSUs) | https://www.sec.gov/Archives/edgar/data/1781162/000178116225000024/0001781162-25-000024-index.htm |
| 2025-06-30 | A—Award | Class A Common Stock | 16,294 | $0 | 21,441 (Common) | https://www.sec.gov/Archives/edgar/data/1781162/000178116225000024/0001781162-25-000024-index.htm |
| 2024-11-01 | M—Exempt (vest) | RSUs (disposed on settlement) | 2,400 | $0 | 0 (RSUs line item) | https://www.sec.gov/Archives/edgar/data/1781162/000178116224000013/0001781162-24-000013-index.htm |
| 2024-11-01 | M—Exempt (vest) | RSUs (disposed on settlement) | 222 | $0 | 0 (RSUs line item) | https://www.sec.gov/Archives/edgar/data/1781162/000178116224000013/0001781162-24-000013-index.htm |
| 2024-11-01 | M—Exempt (settlement) | Class A Common Stock (acquired) | 2,400 | $0 | 5,147 (Common) | https://www.sec.gov/Archives/edgar/data/1781162/000178116224000013/0001781162-24-000013-index.htm |
No open‑market purchases (P) or sales (S) disclosed in this period; transactions reflect RSU grants and vesting settlements [Read: all listed SEC Form 4 URLs].
Governance Assessment
- Alignment/independence: Reiners is independent, Lead Independent Director, and Audit Chair with “financial expert” designation—strong oversight credentials .
- Attendance/engagement: Board met 26 times in 2024 (high cadence); all directors ≥75% attendance; Audit Committee met seven times—indicates active oversight .
- Compensation structure: 2024 director pay entirely in cash ($80k) amid a pause in director equity grants; RSU grants resumed in 2025 with a sizable award to Reiners (16,294 units), improving equity alignment; policy provides robust cash/committee retainer structure and clear RSU vesting .
- Ownership: Beneficial ownership increased notably during 2025 (368 → 21,441 shares), but remains <1%—typical for micro/small-cap boards yet modest in absolute terms .
- Conflicts/related party: No related‑party transactions involving directors reported for >$120k; firm policy requires Audit Committee pre‑approval of any such transactions .
- Risk indicators: Hedging prohibited for directors; no pledging disclosed; Compensation Committee’s advisor (F.W. Cook) independent; no say‑on‑pay results applicable in 2025 proxies reviewed (company pursued financing/warrant proposals instead) .
- RED FLAGS: None material identified specific to Reiners (no attendance shortfalls, no related‑party exposure, no hedging/pledging). Broader shareholder dilution proposals in 2025 are company‑level capital actions rather than director‑specific issues; the Audit Chair’s active oversight of auditor changes and audit scope is disclosed .