Tricia Glynn
About Tricia Glynn
Tricia Glynn (age 44) is Lead Director of Olaplex Holdings, Inc., serving on the Board since August 2021. She is a Managing Partner at Advent International, focusing on retail, consumer, and leisure investments; prior roles include 15 years investing across Bain Capital Private Equity and Goldman Sachs’ Private Equity Group. She holds a B.A. in Biochemical Sciences (cum laude) from Harvard College and an MBA (Baker Scholar) from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Advent International, L.P. | Managing Partner; previously Managing Director | Managing Partner current; MD 2016–2022 | Consumer/retail growth equity and buyouts; provides board/process insights |
| Bain Capital Private Equity | Investor | 15 years (dates not specified) | Transactions across retail, healthcare, services, real estate, media |
| Goldman, Sachs & Co. (Private Equity Group) | Investor | 15 years (dates not specified) | Transactions domestically and internationally |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| First Watch Restaurant Group, Inc. | Director | Current | Public company directorship |
| Orveon, Inc. | Director | Current | Portfolio/consumer focus |
| Sauer Brands Inc. | Director | Current | Consumer brands |
| Harvard Management Company | Director | Current | Institutional asset management board |
| SavageXFenty | Director | 2021–2022 | Prior public/private board role |
| lululemon athletica inc. | Director | 2017–2021 | Prior public company board |
Board Governance
- Board leadership: Executive Chair (John P. Bilbrey) with a separate CEO; Glynn serves as Lead Director .
- Controlled company: Advent Funds hold 75.0% of voting power; Olaplex relies on Nasdaq “controlled company” exemptions (non-majority independent Board; Compensation and Nominating committees not required to be fully independent) .
- Attendance: In FY2024, no director attended fewer than 75% of Board and applicable committee meetings; Board held 4 meetings; 82% of directors attended the 2024 annual meeting .
- Committees (FY2024): Compensation Committee member and Chair; served on Nominating & Corporate Governance Committee until Jan 15, 2024; not on Audit .
- Committee meetings (FY2024): Audit 5; Compensation 4; Nominating 4 .
Fixed Compensation
| Component | Amount/Policy | FY2024 Actual (Glynn) |
|---|---|---|
| Board annual cash retainer | $100,000 for non-employee directors; $120,000 for Lead Director | Included in Fees; pro-rated given committee changes |
| Committee membership retainers | Audit $15,000 (Chair $30,000); Compensation $10,000 (Chair $20,000); Nominating $10,000 (Chair $15,000) | Included in Fees; served on Nominating until Jan 15, 2024; Compensation Chair |
| Annual director RSU grant | ~$150,000 grant date value; Chair of Board ~$250,000 | $150,000 RSUs in FY2024 |
| FY2024 non-employee director compensation (total) | Cash + equity | Fees $140,389; Stock Awards $150,000; Total $290,389 |
Performance Compensation
- Directors receive time-based RSUs; no performance metrics (e.g., revenue/EBITDA/TSR) govern annual director equity awards. Stock options (where applicable to certain directors) have time-based vesting; options vest in full upon change of control; RSU change-of-control acceleration is not specified for directors’ annual RSU grants .
| Equity Award Detail (Director) | Grant Value | Units | Vesting Schedule | Change of Control Terms |
|---|---|---|---|---|
| FY2024 RSUs (Glynn) | $150,000 | 76,142 RSUs | Eligible to vest in full on July 16, 2025, subject to continued service | Not specified for RSUs; director options (not applicable to Glynn) vest in full on CoC |
Other Directorships & Interlocks
| Connection | Detail |
|---|---|
| Advent control/interlocks | Advent Funds own 75.0% of common stock; multiple Advent-affiliated directors (e.g., David Mussafer, Michael White) serve on the Board alongside Glynn . |
| lululemon ties | Glynn (former director 2017–2021); Morfitt (chair of lululemon’s board); Emily White (director); Mussafer (director) — indicating historical network overlap and potential information flow . |
Expertise & Qualifications
- Skills matrix indicates Glynn brings retail industry expertise, service on other public boards, international markets, strategy, senior leadership, and finance/accounting; marketing/brand development not flagged .
- Olaplex values strategic, brand-building, and consumer insights; Glynn’s investing background provides current insights for a consumer company Board .
Equity Ownership
| Holder | Shares Owned | Options Exercisable within 60 days | RSUs Held | Ownership % of Outstanding | Notes |
|---|---|---|---|---|---|
| Tricia Glynn | 62,257 | — | 76,142 RSUs eligible to vest 7/16/2025 | <1% | Advent employee; does not beneficially own Advent Funds’ shares |
| Shares Outstanding (record date) | 665,757,390 | — | — | — | For % calculation; FY2025 proxy record date Apr 21, 2025 |
Policies impacting alignment:
- Stock ownership guidelines apply to “Outside Directors” and exclude Advent-affiliated directors; thus Glynn is not subject to the director ownership multiple requirement .
- Anti-hedging and anti-pledging: directors prohibited from hedging or pledging Company stock .
Governance Assessment
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Strengths
- Lead Director role provides leverage over agenda, executive sessions, and Board effectiveness; served as Compensation Committee Chair overseeing pay practices and independent consultant engagement (Aon; independence assessed in 2024 and 2025) .
- Attendance and engagement met thresholds; Board/committee processes documented; clawback policies, anti-hedging/pledging, equity grant timing guidelines in place .
- Say-on-pay support: prior year (FY2023) received over 91% approval, signaling investor acceptance of executive pay framework .
-
Risk indicators and potential conflicts
- Controlled company with Advent owning 75% of shares; Glynn is Advent Managing Partner and Compensation Committee Chair — committee composition includes Advent-affiliated directors; not all committees are fully independent under Nasdaq exemptions. This structure can raise perceived conflicts and alignment questions for minority shareholders regarding compensation oversight and nominations .
- Related-party context: Advent-affiliated entity (Pacvue) provided services ($0.3 million in FY2024); while negotiated at arm’s length, such transactions warrant ongoing audit oversight .
- Tax Receivable Agreement: payments to Pre-IPO stockholders expected to aggregate $189.3 million through 2041 (e.g., $12.8 million paid in FY2024), creating cash outflows tied to pre-IPO tax assets; governance oversight is important to ensure transparency and shareholder understanding .
RED FLAGS: Controlled company status with Advent dominance; Advent-affiliated directors (including Glynn) chairing Compensation Committee; reliance on independence exemptions; related-party transactions requiring continued monitoring .