Jeffrey Lamkin
About Jeffrey B. Lamkin
Independent director (age 55) serving on ONEW’s Board since 2020, currently a member of the Audit Committee. Lamkin is CEO of Sea Oats Group (since 2001), CEO of Cinnamon Shore (Texas), and involved in developing Lively Beach; he previously spent ~16 years in advertising/marketing advising Fortune 100 companies. He holds a BS in Management with a minor in Economics from Towson State University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| OneWater Marine Holdings, LLC (pre-IPO) | Board of Managers; Compensation Committee member | 2012–IPO | Governance role pre-IPO; compensation oversight at OneWater LLC |
| Advertising/Marketing industry | Advisor/executive (non-traditional media) | Approximately 16 years | Advised Fortune 100 companies on marketing investments |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Sea Oats Group | Chief Executive Officer | Since 2001 | Family office focused on luxury lifestyle businesses |
| Cinnamon Shore (Texas) | Chief Executive Officer | Current | Beach town development |
| Lively Beach (Texas) | Developer/Investor | Current | Beach town development involvement |
Board Governance
- Independence: Board determined Lamkin is independent under Nasdaq/SEC rules; Board majority is independent .
- Committee assignments: Audit Committee member; Audit Committee chaired by J. Steven Roy; all members financially literate; Board identifies Roy as an “audit committee financial expert” .
- Attendance/engagement: Board met 7 times in FY2024; each director attended at least 75% of Board and committee meetings; all directors attended the 2024 Annual Meeting .
- Board structure: Separate Chairman (John F. Schraudenbach) and CEO (P. Austin Singleton); independent directors meet in executive session led by the Chairman .
Fixed Compensation
| Fiscal Year | Cash Retainer ($) | Equity Grant (RSUs) | Equity Grant Fair Value ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 75,000 | 4,880 RSUs (granted 10/1/2023; vested 10/1/2024) | 125,000 | 200,000 |
Director pay policy and chair fees:
- Annual retainer: $75,000 cash, plus RSUs valued at $125,000 that vest one year post-grant .
- Additional chair retainers: Non-Executive Chair $80,000; Audit Chair $25,000; Compensation Chair $20,000; Governance Chair $20,000 .
- Perquisites: directors eligible for discounts and demo boats; no reported incremental cost .
- Ownership guidelines: $225,000 by year 5; $300,000 by year 6; $375,000 (or 5× base retainer) by year 7 .
Performance Compensation
- No performance-based components disclosed for non-employee director pay; RSUs vest based on continued service (one-year vest) .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company boards (current) | None disclosed in Lamkin’s biography; Board skills matrix does not flag “Public Company Experience” for Lamkin . |
| Interlocks/affiliations | Lamkin/controlled entities are parties to ONEW’s Tax Receivable Agreement (TRA) established at IPO; ONEW paid $2.6 million under the TRA in FY2024 . |
Expertise & Qualifications
- Leadership and operational experience (Board matrix) .
- Financial/accounting acumen (Board matrix) .
- Deep commercial background (Sea Oats Group; Cinnamon Shore; development projects) .
Equity Ownership
| As of | Shares Beneficially Owned (Class A) | % of Class A | Unvested RSUs Held (Directors) |
|---|---|---|---|
| January 2, 2025 | 83,503 | <1% | — |
| September 30, 2024 | — | — | 4,880 (vested on 10/1/2024) |
- Hedging/pledging: Directors are prohibited from hedging and pledging company stock; exceptions apply only to the CEO and COO founders, not to independent directors .
- Ownership guidelines apply as noted above; compliance status for Lamkin is not disclosed .
Governance Assessment
- Audit oversight and independence: Lamkin’s Audit Committee role and Board independence support investor confidence; Audit Committee comprised entirely of independent directors with a designated financial expert .
- Attendance and engagement: Meets attendance thresholds; full Board engagement at annual meeting; signals commitment to governance .
- Alignment via equity and guidelines: Annual RSU grants and mandatory director ownership guidelines aim to align director incentives with shareholders .
- Controls and accountability: Anti-hedging/pledging policies for directors; clawback policy for executives adopted in August 2023 .
RED FLAGS / watch items
- Tax Receivable Agreement beneficiary: Entities controlled by Lamkin are TRA holders; the company paid $2.6 million under the TRA in FY2024. TRA structures can create cash obligations to pre-IPO holders and may be scrutinized for potential conflicts, though they are standard in Up-C structures .
- Public company experience: Board matrix does not indicate public company experience for Lamkin; investors may weigh this against his audit committee role and broader business background .
Overall: Lamkin’s independence, audit committee service, and attendance are positives for board effectiveness, while TRA participation is a potential perceived conflict to monitor for transparency and fairness of related payments .