Peter Lindell

About Peter Lindell

Peter Lindell, age 71, is a Class III independent director of Neonode, serving since June 2019 with a term expiring at the 2026 Annual Meeting. He has 20+ years in private equity as an investor and board member, previously holding management roles in the information technology and computer industry, and is cited by the board for significant ownership and board experience . He is not the Chair (Ulf Rosberg is Chair) and Neonode has no Lead Independent Director; all directors, including Lindell, are deemed independent under Nasdaq rules .

Past Roles

External Roles

Board Governance

• Independence: Board determined all directors, including Lindell, are independent under Nasdaq rules .
• Board leadership: No Lead Independent Director; Chair is Ulf Rosberg; CEO and Chair roles are separated .
• Committee memberships:
  • Audit Committee member; chair is Per Löfgren (audit committee financial expert) .
  • Compensation, Nomination and Governance (CNG) Committee member; chair is Peter Kruk .
• Committee activity (2024): Audit met 8 times; CNG met 4 times; independent directors meet in executive sessions .
• Attendance: Board met 9 times in 2024; each director attended at least 75% of aggregate board and committee meetings .

Fixed Compensation

• Directors do not receive per‑meeting fees; expenses reimbursed; as of Dec 31, 2024, directors held no stock or option awards granted as director compensation .

Performance Compensation

• No performance‑based or equity‑linked director compensation disclosed for 2024; no stock/option awards outstanding for directors as of year‑end .

Other Directorships & Interlocks

• Related‑party transactions: None with Lindell or other related persons since Jan 1, 2023 under Item 404; no parent company .

Expertise & Qualifications

• Private equity investor and board member for 20+ years; prior management in IT/computer industry .
• Active on Audit and CNG committees; board cites his board experience, private equity market understanding, and significant ownership .

Equity Ownership

• Ownership base: 15,359,481 shares outstanding as of April 21, 2025 .
• Hedging: Company policy prohibits hedging/monetization (e.g., collars, forwards) for directors .

Governance Assessment

• Alignment: Very strong ownership alignment via 11.71% beneficial stake; despite minimal annual cash fees, his equity stake drives long‑term incentives .
• Committee effectiveness: Serves on both key committees (Audit and CNG); Audit chaired by a qualified financial expert, supporting oversight quality .
• Independence and engagement: Board affirms independence; at least 75% attendance; independent directors hold executive sessions, bolstering oversight .
• Compensation governance: CNG did not retain a compensation consultant in 2024 or 2025 to date, which may reduce external benchmarking rigor; no director equity grants, limiting annual pay‑for‑performance signals at the board level .
• Controls and conflicts: No related‑party transactions involving Lindell since 2023; hedging prohibited; one structural nuance is 20,000 shares with dispositive but not voting power through a capital insurance account, which is not a red flag but warrants monitoring for voting alignment .
• Board structure consideration: Absence of a Lead Independent Director can be viewed as a governance gap by some investors, though Chair/CEO roles are separated .

RED FLAGS: None disclosed for related‑party transactions, hedging, or pledging; note the lack of a Lead Independent Director and absence of director equity grants, which some investors may view as weaker ongoing alignment mechanisms relative to equity‑based retainers .