Bruce Lisman
About Bruce M. Lisman
Independent director of Myers Industries since 2015 (age 78). Former Chairman of the Global Equity Division at JPMorgan Chase and Co-Head of Global Institutional Equity at Bear Stearns. Currently serves on the Compensation and Management Development (CMD) Committee and the Corporate Governance Committee; classified as independent under NYSE standards. Board held 6 meetings in 2024; committees held Audit (5), CMD (8), Governance (4), and all directors attended at least 75% of meetings and the 2024 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JPMorgan Chase & Co. | Chairman, Global Equity Division | — | Led global equities; senior leadership credentials |
| Bear Stearns Companies, Inc. | Co-Head, Global Institutional Equity Division | — | Led institutional equities; capital markets expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| STRATTEC Security Corporation | Director | — | External board; shared service with MYE Chair F. Jack Liebau, Jr. (interlock) |
| Associated Capital Group (NYSE: AC) | Director | — | Gabelli-affiliated platform; potential network tie given GAMCO’s MYE stake |
| National Life Group | Director | — | Insurance; risk oversight exposure |
| Bank of Burlington | Director | — | Banking; financial oversight |
| Circor International (NYSE: CIR) | Former Director | — | Industrial; prior public company experience |
| PC Construction | Former Director and Chair | — | Governance leadership |
| The Pep Boys | Former Director | — | Retail; prior public company experience |
| Various boards (utility, transmission, regional bank, broadcasting, fintech, two universities—including chair—and conservation organization—chair) | Member/Chair (various) | — | Broad civic and governance experience |
Board Governance
- Independence: Board determined Lisman and all non-management directors are independent; all committee members (Audit, CMD, Governance) are independent and Audit/CMD members meet enhanced NYSE criteria.
- Committee assignments: Member, CMD Committee and Governance Committee (not a chair).
- Attendance and engagement: Board held 6 meetings; committees held Audit (5), CMD (8), Governance (4); all directors attended ≥75% and attended the 2024 annual meeting. Board conducted continuing education (AI, cybersecurity, governance) and robust shareholder outreach.
- Policies: Anti-hedging and anti-pledging; proxy access; over-boarding cap of 5 public boards (including MYE) for non-CEO directors; routine executive sessions; clawback policy.
- Stock ownership guidelines: Non-employee directors must hold 5× annual cash board retainer within five years; counted shares include unvested time-based RSUs and deferred units.
- Say-on-Pay signal: 99% approval at 2024 annual meeting.
Fixed Compensation
| Component | Annual Amount | Notes |
|---|---|---|
| Cash retainer (non-employee director) | $100,000 | Paid quarterly in arrears |
| Equity award (target value) | $100,000 | RSUs; number based on 20-day average; vest at next annual meeting unless deferred |
| Chair fees (Audit/CMD/Governance) | $17,500 / $12,500 / $10,000 | Paid to committee chairs |
| Board Chair supplemental | $90,000 | Board Chair only; not eligible for additional committee fees |
| Ad-hoc committee | $10,000 (member); $15,000 (chair) | No extra pay for 2024 CEO search committee |
| Bruce M. Lisman – 2024 Director Compensation | Amount |
|---|---|
| Fees Earned or Paid in Cash | $100,000 |
| Stock Awards (grant-date fair value) | $77,939 (4,534 RSUs granted May 9, 2024) |
| Total | $177,939 |
| RSU vesting terms | Annual grant vests at 2025 annual meeting unless director elects deferral to stock units |
| RSU sizing method | $100,000 divided by 20-day average closing price pre-annual meeting |
Performance Compensation
| Item | Disclosure |
|---|---|
| Performance metrics tied to director pay | None; director equity is service-based RSUs vesting at next annual meeting (or deferred stock units) |
Other Directorships & Interlocks
- Shared external board: Both Lisman and MYE Chair Liebau serve on STRATTEC Security Corporation (board-level interlock).
- Gabelli network linkage: Lisman serves on Associated Capital Group’s board, while GAMCO Investors (Gabelli affiliates) reported a 14.9% stake in MYE (AC reported 1,700 MYE shares within the 13D group). Monitor for influence dynamics; no related-party transactions were disclosed for 2024.
Expertise & Qualifications
- Senior capital markets leadership and investment expertise from JPMorgan and Bear Stearns; experience as chair/vice chair across business and civic organizations.
- Governance experience through multiple board and committee roles, including prior chair responsibilities.
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (Lisman) | 61,093 shares (includes 4,534 RSUs awarded May 9, 2024) |
| Percent of shares outstanding | <1% (company outstanding shares: 37,295,964 as of March 6, 2025) |
| Vested vs unvested | Includes time-based RSUs that vest at annual meeting or are deferred; no options disclosed for directors |
| Pledging/Hedging | Prohibited by company policy |
Governance Assessment
- Strengths: Independence and committee roles; robust governance policies (anti-hedging/pledging, clawback, proxy access); director ownership guidelines; strong shareholder support (99% Say-on-Pay); active board education and engagement; consistent meeting participation expectations met at the aggregate level.
- Compensation alignment: Director pay is balanced between cash and service-based equity; no performance-linked director awards; RSUs promote ownership without encouraging short-term risk-taking.
- Potential red flags to monitor: External interlock with MYE Chair at STRATTEC; association with Gabelli affiliates via Associated Capital Group concurrent with GAMCO’s significant MYE stake (network influence risk). No related-party transactions in 2024; board over-boarding policy allows up to five public boards and Lisman appears within limits based on disclosed roles.