Larry Paulson
About Larry Paulson
Larry M. Paulson (age 72) is Lead Independent Director at Energy Vault Holdings (NRGV), serving on the Board since 2021. He co-founded Novus Capital SPACs, held senior roles at Qualcomm and Nokia, and holds a BA in Communications from Point Park University; the Board cites 30+ years of global tech and wireless leadership as core credentials . The Board determined Paulson is independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Novus Capital Corporation (SPAC) | Co-Founder, CEO & Director | Mar 2020–Jan 2021 (merged with AppHarvest) | SPAC leadership; deal execution |
| Novus Capital Corporation II (SPAC) | Director; Non-executive Chairman | Inception–2022 | Governance oversight |
| Qualcomm (QCOM) | VP Product Mgmt; VP & President India/SAARC; VP Sales NA & Australia | 2013–Jan 2020 | Product, regional leadership, sales |
| Brightpoint, Inc. | EVP & Chief Marketing Officer | 2011–2013 | Global distribution/logistics marketing |
| Nokia (NOK) | Global SVP & GM CDMA Product Line | 1987–2009 | Product line general management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Novus Capital Associates, LLC | Managing Member | Oct 2020–present | Investment/strategic advisory |
| Rancho Santa Fe Solutions | Principal & Founder | Feb 2010–present | Wireless consulting |
Board Governance
- Lead Independent Director; presides over executive sessions and approves agendas/materials .
- Committee memberships and 2024 activity:
- Compensation Committee: Chair (Paulson), members Fariello and Ertel; met 4 times in 2024 .
- Nominating & Corporate Governance: Member (Paulson), Chair Mandanas; met 1 time in 2024 .
- Audit Committee: Not a member; Audit met 4 times in 2024 .
- Attendance: Board met 4 times in 2024; each director attended ≥75% of Board and committee meetings; all directors attended the 2024 annual meeting .
- Independence: Board determined Paulson and all committee members are independent under NYSE/Exchange Act rules .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Annual Cash Retainer ($) | 75,000 | 75,000 |
| Committee Chair Fee (RSUs) – Program Term ($) | 15,000 (incremental RSUs for chair) | 15,000 (incremental RSUs for chair) |
| Meeting Fees | Not disclosed | Not disclosed |
Director compensation program terms (equity):
- Initial RSU Award: ~$200,000 upon Board appointment; vests in three annual installments .
- Annual RSU Award: ~$100,000 if ≥6 months service by annual meeting; vests by next annual meeting; +$15,000 incremental RSUs if chair .
- Change-in-control: Director RSU awards vest in full with continued service through the event .
Performance Compensation
| Equity Component | 2023 | 2024 |
|---|---|---|
| Stock Awards ($) | 99,660 | 275,636 |
| Vesting Mechanics | Time-based (Initial: 3 annual tranches; Annual: full by next annual meeting) | Time-based (as program above) |
| Performance Metrics | Not disclosed for directors (no TSR/financial metrics tied to director RSUs) | Not disclosed for directors |
Director Compensation Trend (Larry Paulson)
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 75,000 | 75,000 |
| Stock Awards ($) | 99,660 | 275,636 |
| Total ($) | 174,660 | 350,636 |
Other Directorships & Interlocks
| Company/Organization | Role | Status |
|---|---|---|
| Novus Capital Corporation (SPAC) | CEO & Director | Prior (pre-2021 merger with AppHarvest) |
| Novus Capital Corporation II (SPAC) | Non-executive Chairman; Director | Prior (served until 2022) |
No current public company directorships beyond NRGV disclosed; no related-party transactions involving Paulson reported since 2023 .
Expertise & Qualifications
- 30+ years in global tech/wireless operations and product leadership (Nokia, Qualcomm) .
- SPAC formation/execution experience (Novus Capital, Novus II; AppHarvest business combination) .
- Education: BA in Communications, Point Park University .
Equity Ownership
| Item | Value |
|---|---|
| Total Beneficial Ownership (shares) | 1,657,026 |
| Ownership % of outstanding | 1.1% |
| RSUs vesting within 60 days | 79,337 |
| Warrants exercisable within 60 days | 852,000 (held via Paulson Trust) |
| Trust-held common shares | 609,256 (Larry M & Gretchen V Paulson Family Trust; Paulson disclaims beneficial ownership except pecuniary interest) |
| Total Stock Awards Outstanding (as of 12/31/2024) | 159,203 |
Policy constraints and alignment:
- Anti-hedging and anti-pledging: Directors are prohibited from hedging; pledging requires compliance officer approval (Insider Trading Policy) .
- Executive sessions led by Lead Independent Director enhance independent oversight .
Insider Trades (recent)
| Date | Transaction Type | Shares | Price | Direct Holdings After | Indirect Trust Holdings |
|---|---|---|---|---|---|
| 2025-09-18 | Open-market purchase (P) | 20,000 | $1.3799 | 295,636 | 609,256 (Trust; disclaimers noted) |
Governance Assessment
- Strengths: Paulson’s independence, Lead Independent Director role, and Compensation Committee chairmanship signal strong board oversight; attendance thresholds met and executive sessions held regularly . Anti-hedging/anti-pledging policy supports alignment and risk control .
- Alignment: Material equity exposure via RSUs, trust-held shares, and warrants; 1.1% beneficial ownership suggests “skin in the game” .
- Potential watch items: Warrant holdings and trust structures can create perceived complexity; monitor any future related-party matters (none disclosed since 2023) and any pledging activity (policy limits pledging) .
- Compensation mix: Director pay is primarily cash retainer plus time-based RSUs; no performance metrics tied to director equity; 2024 stock award values increased vs 2023, consistent with program annual awards and chair increments .