Peter Schabert
MICROVISIONAbout Peter Schabert
Independent director at MicroVision since 2024; age 70. Schabert is a mechanical engineer (Technische Universität Braunschweig) and veteran automotive manufacturing executive, currently a management consultant to automotive suppliers. He previously served as President & CEO of Beijing Benz Automotive (2015–2017) and spent 31 years at Daimler AG leading global powertrain production and multiple Mercedes‑Benz manufacturing sites across Germany, China, and the U.S. He serves on MicroVision’s Nominating & Governance Committee and is classified independent under Nasdaq/SEC standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Beijing Benz Automotive Co., Ltd | President & Chief Executive Officer | Aug 2015 – Apr 2017 | Led JV automotive manufacturing operations in China |
| Daimler AG | Multiple leadership roles (incl. head of global powertrain production; site manager of several Mercedes‑Benz plants) | 31 years (dates not individually disclosed) | Global manufacturing leadership across Germany, China, U.S. |
External Roles
| Organization / Industry | Role | Tenure | Notes |
|---|---|---|---|
| Automotive supply industry | Management consultant | Current | Advises companies in automotive supply chain; no public company directorships disclosed |
Board Governance
- Committee assignment: Member, Nominating & Governance Committee. The committee met 4 times in 2024; Schabert and Jada Smith were appointed as members in 2024; Chair: Dr. Mark Spitzer.
- Independence: Board determined all directors other than the CEO are independent (Schabert is independent).
- Attendance: Board met 7 times in 2024 and each director attended at least 75% of Board and applicable committee meetings.
- Board structure: Independent Chair (Robert P. Carlile); roles of Chair and CEO are separated; Chair leads meetings including sessions of the Independent Directors.
| Governance Item | Detail |
|---|---|
| Director since | 2024 |
| Current Board Committee(s) | Nominating & Governance (member) |
| Independence status | Independent |
| 2024 Board meetings | 7; each director ≥75% attendance |
| Independent Chair | Robert P. Carlile; separate from CEO |
Fixed Compensation
| Policy Element (Non‑Employee Directors) | Amount / Structure |
|---|---|
| Base annual cash retainer | $75,000 (paid quarterly) |
| Chair retainers | Board Chair $50,000; Audit Chair $20,000; Compensation Chair $15,000; Nominating & Governance Chair $10,000 |
| Equity | Annual RSUs ≈ $100,000, sized on 20‑day average price pre‑Annual Meeting; vests in equal quarterly installments to the earlier of 1 year or before next Annual Meeting |
| New directors | Pro‑rated cash and equity; no separate initial grant |
| Peter Schabert – 2024 Director Compensation | Amount |
|---|---|
| Fees earned or paid in cash | $56,250 |
| Stock awards (grant‑date fair value) | $73,652 |
| Option awards | — |
| Total | $129,902 |
Performance Compensation
MicroVision does not disclose performance‑metric conditions for director equity. Annual director equity is in the form of time‑based RSUs that vest quarterly; no performance metrics are specified for non‑employee director pay.
| Metric Area | Disclosure for Directors |
|---|---|
| Performance metrics tied to director pay | Not disclosed / not applicable; director RSUs are time‑based |
| Vesting schedule | Equal quarterly installments through the earlier of one year or the day before the next Annual Meeting |
Other Directorships & Interlocks
| Category | Status |
|---|---|
| Current public company boards | None disclosed for Schabert |
| Prior public company boards | None disclosed |
| Compensation committee interlocks | None reported; no executive officer sits on another company’s board/comp committee with an MVIS exec |
| Related‑party transactions (since Jan 1, 2024) | None reported involving directors/executives/5% holders >$120,000 |
Expertise & Qualifications
- Executive leadership and business strategy in global automotive manufacturing; head of global powertrain production at Daimler; site management across Germany, China, U.S.
- Mechanical engineering degree (Technische Universität Braunschweig).
- Committee experience in board governance (Nominating & Governance member).
Equity Ownership
| Ownership & Alignment Item | Detail |
|---|---|
| Beneficial ownership (as of Feb 28, 2025) | 60,338 shares; <1% of common stock outstanding |
| Options outstanding (12/31/2024) | 0 for Schabert |
| RSUs outstanding (12/31/2024) | Each active non‑employee director held an RSU award covering 40,224 shares (subject to the plan’s vesting) |
| Hedging / pledging | Hedging and short sales prohibited; pledging MicroVision securities prohibited (except to MicroVision); no hedging transactions approved in the most recent fiscal year |
Governance Assessment
-
Strengths:
- Independent director with deep, hands‑on automotive manufacturing expertise and global operating experience (Daimler/Beijing Benz) highly relevant to MVIS’s ADAS/lidar strategy.
- Serves on Nominating & Governance; board maintains independent Chair and regular committee reporting; all directors (except CEO) independent.
- Director pay mix emphasizes equity, aligning with shareholders; 2024 equity award was the larger component of Schabert’s compensation.
- No related‑party transactions, and robust anti‑hedging/pledging policy reduces alignment risks.
-
Watch items / signals:
- Shareholder sentiment: Say‑on‑pay support fell to ~72% in 2024 (from ~93% in 2023), indicating rising scrutiny of compensation and performance alignment; the board should sustain active investor engagement.
- Capital flexibility reliance: 2025 proposals to increase authorized common stock to 510 million and add 12 million shares to the 2022 Equity Incentive Plan highlight continued dependence on equity capital and dilution sensitivity—an area for board oversight and investor communication.
-
RED FLAGS:
- None specific to Schabert identified in filings (no attendance shortfalls; no interlocks; no related‑party transactions; no pledging/hedging).
