Ivan Arteaga
About Ivan Arteaga
Independent director since 2022; age 56. Background spans investment management and public-company leadership: CFO (2022–2023) and Interim CEO (2020–2021) of The LGL Group, plus prior portfolio management roles at GAMCO Investors and equity research at Gabelli & Co. Education: B.S. Accounting (Boston College) and MBA (Columbia Business School). Board skills tagged as financial expertise, CEO experience, and governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The LGL Group, Inc. | Interim CEO | 2020–2021 | Led transition and oversight |
| The LGL Group, Inc. | CFO | 2022–2023 | Finance leadership during separation era |
| GAMCO Investors, Inc. | Portfolio Manager | 1994–2006 | Buy-side portfolio management |
| Gabelli & Company, Inc. | VP – Equity Research | 1992–2002 | Institutional research, brokerage |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Brick Skirt Holdings, Inc. (DFT Communications owner) | Director | 2014–present | Telecom holding company board role |
| Arteaga Capital Management, LLC | Managing Member & CIO | 2006–present | Alternative funds and equity research services |
| Arteaga Global Partners LP | Portfolio Manager | 2007–present | Global equity partnership |
| Arteaga Investment Mgmt Group, LLC | Managing Member | 2008–present | Registered investment adviser |
Board Governance
- Independence: Board determined Arteaga and five other directors are independent under NYSE American rules .
- Committee assignments: None (did not serve on Audit, Compensation, Corporate Governance, or Nominating in 2024) .
- Attendance: In 2024 the Board held 9 meetings; all directors attended at least 75% of Board and applicable committee meetings .
- Election support: 2025 Annual Meeting votes – For: 1,101,455; Withheld: 44,117; Broker non-votes: 970,677 .
Fixed Compensation
Non-employee director compensation structure (as disclosed):
| Component | Amount ($) | Notes |
|---|---|---|
| Base Annual Cash Retainer | 10,000 | Paid quarterly in arrears |
| Restricted Stock Award | 15,000 | Granted 3/21/2025, immediate vesting |
| Board Meeting (in-person) | 2,000 | Per meeting |
| Board Meeting (telephonic) | 750 | Per meeting |
| Committee Meeting | 750 | Per meeting |
| Committee Chair Retainers | 2,000 (Audit); 1,000 (Comp, Gov, Nom) | Annual; paid quarterly |
| Chairman Cash Retainer | 100,000 (split with Advisor post 9/20/2023) | Chairman and Advisor split equally |
Ivan Arteaga – Cash fees earned:
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 19,098 | 16,750 |
Performance Compensation
Director equity awards (restricted stock; not performance-conditioned):
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Stock Awards ($) | 15,002 | 15,011 | — (structure indicates $15,000 grant; individual 2025 proxy table not provided) |
| Shares Granted (#) | 1,266 (RS grant) | 364 (RS grant) | 402 (RS grant) |
| Grant Date | 2023-05-11 | 2024-03-21 | 2025-03-21 |
| Vesting | Not disclosed | Not disclosed | Immediate (per structure) |
Note: Directors receive time-based restricted stock; no director-specific performance metrics were disclosed for equity awards .
Other Directorships & Interlocks
| Company | Role | Period | Interlock/Conflict Considerations |
|---|---|---|---|
| The LGL Group, Inc. | Director | 2019–2022 | Prior leadership at LGL; M-tron maintains post-spin agreements (e.g., Transitional Services; net $4,000/month from LGL to M-tron) and shared-cost arrangements; related-party oversight via Audit/Corporate Governance Committees |
Additional context: Several MPTI directors have past LGL ties (e.g., Lazar, Mega); Company also holds balances in GAMCO-managed U.S. Treasury funds with fees deducted in NAV (8 bps), with board-level related-party policy oversight .
Expertise & Qualifications
- Financial expertise, CEO experience, governance—explicitly tagged in board skills matrix .
- Industry exposure via governance roles and investment background; formal degrees in accounting and business .
Equity Ownership
| Metric | Value |
|---|---|
| Shares owned (beneficial) as of 4/15/2025 | 766 |
| Shares outstanding (record date) | 2,915,189 |
| Ownership % of shares outstanding | ~0.026% (766 ÷ 2,915,189) |
| Options / Unvested RSUs | None disclosed for directors; 2025 director RS grant vested immediately |
| Pledging / Hedging | Company discourages hedging/pledging; no director-specific pledging disclosures |
| Ownership Guidelines | Not disclosed |
Insider Trades (Form 4 history)
Governance Assessment
- Independence and committee neutrality: Arteaga is independent and did not serve on any committees in 2024—reducing direct compensation/control conflicts but also limiting committee oversight influence .
- Shareholder support: Strong 2025 re-election support (1.10M for vs. 44k withheld), indicating investor confidence in board composition .
- Ownership alignment: Very small personal stake (~0.026% of outstanding), and repeated open-market sales in late 2023 and October 2024 reduce “skin-in-the-game” optics, although director equity grants are annual and time-based .
- Related-party exposure: Ongoing arrangements with LGL Group and balances in GAMCO-managed funds create perceived interlocks; oversight is via Audit/Corporate Governance charters and related-party policies .
- Policies and signals: Hedging/pledging is discouraged but not prohibited—less stringent alignment policy than some peers; company maintains an executive clawback policy (applies to executives, not directors) and achieved 96.9% say-on-pay approval at 2024 meeting, suggesting broad investor support for compensation governance .
RED FLAGS: Limited personal ownership and multi-episode insider selling ; permissive (discouraged but not banned) hedging/pledging policy ; related-party proximity via LGL and GAMCO relationships (though governed under related-party policy and committee oversight) .