Laura Durr
About Laura J. Durr
Independent director of Owlet, Inc. since July 2021; age 64; Audit Committee Chair and Nominating & Corporate Governance Committee member. Former EVP & CFO of Polycom and a certified public accountant with a B.S. in Accounting from San Jose State University; recognized as an Audit Committee Financial Expert. She currently chairs the audit committees at Netgear, Inc. and Xperi Inc., bringing deep finance, audit, and public company governance experience to OWLT’s board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Polycom, Inc. | EVP & CFO | May 2014 – Jul 2018 | Led finance until sale to Plantronics; prior roles included SVP Worldwide Finance, CAO, and Controller (2004–2014) . |
| Lucent Technologies, Inc. | Finance & Administration executive | Not specified | Senior finance leadership . |
| International Network Services Inc. | Finance & Administration executive | Not specified | Senior finance leadership . |
| Price Waterhouse LLP | Audit professional | 6 years | Foundational audit/accounting experience . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Netgear, Inc. | Director; Audit Committee Chair | Since Jan 2020 | Chairs audit; public company governance and financial oversight . |
| Xperi Inc. | Director; Audit Committee Chair | Since Oct 2022 | Chairs audit; previously director of Xperi Holding Corporation (Jun 2020–Oct 2022) and TiVo Corporation (Apr 2019–Jun 2020) . |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board determined Durr is independent under NYSE rules . |
| Committees | Audit Committee (Chair); Nominating & Corporate Governance Committee member . |
| Financial Expert | Identified by the Board as an “audit committee financial expert” . |
| Meeting Attendance | In 2024, each incumbent director attended ≥75% of Board and committee meetings on which they served (Board met 6x; Audit 5x; Comp 4x; Nominating 4x) . |
| Audit Oversight | Signed the Audit Committee Report recommending inclusion of 2024 audited financials; oversight of PwC engagement and independence . |
| Executive Sessions | Independent directors hold regular executive sessions (at least annually) . |
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Board Cash Retainer | $50,000 | Non-employee director program cash retainer . |
| Audit Chair Cash Retainer | $32,500 | Additional retainer for Audit Chair . |
| Fees Earned (Cash) – Durr | $82,500 | Sum of Board and Audit Chair retainers in 2024 . |
Performance Compensation
| Metric/Instrument | Value/Terms | Grant/Vesting Details |
|---|---|---|
| Annual Director RSU Award | $150,000 (value-based) | Granted post-annual meeting; vests immediately prior to next annual meeting; exception in 2024: vested immediately . |
| RSU Election (for fees) | Director may elect RSUs instead of some/all cash fees | RSUs for fees granted quarterly (5th business day post-quarter), fully vested at grant . |
| 2024 Stock Awards – Durr | $160,222 (fair value) | 2024 annual RSU award per FASB ASC 718 valuation . |
| Non-Employee Director Annual Cap | $1,000,000 | Max aggregate grant-date fair value of equity plus cash-based awards per calendar year under the Amended Plan . |
| Clawback Applicability | Yes | Awards under the plan subject to Owlet’s clawback policy . |
No performance metrics (e.g., TSR, EBITDA) are tied to director compensation; director equity is time-based with governance-focused clawbacks .
Other Directorships & Interlocks
| Connection | Detail | Governance Consideration |
|---|---|---|
| Eclipse Ventures (Chair: Lior Susan) | Related Holder in 2025 warrant exchange; large shareholder . | |
| Trilogy Equity Partners (President: Amy McCullough) | Related Holder in 2025 warrant exchange; large shareholder . | |
| Special Committee Role | Durr served on independent Special Committee (with Burke, Gonzales) overseeing the Warrant Exchange; Stoll resigned due to relationships with Eclipse . | |
| Process Safeguards | Special Committee engaged independent advisors (Potter Anderson as counsel; William Blair as financial advisor), negotiated lockups and valuation inputs; required stockholder approval under NYSE 312.03 . |
Expertise & Qualifications
- Former public company CFO with extensive audit and financial reporting leadership; CPA background .
- Audit Chair experience at two public companies (Netgear, Xperi) and recognized Audit Committee Financial Expert at OWLT .
- Board governance experience across technology companies (Polycom, TiVo/Xperi), relevant to OWLT’s digital health devices .
Equity Ownership
| Holder | Common Shares | % of Common | Options (exercisable) | Unvested RSUs | Hedging/Pledging |
|---|---|---|---|---|---|
| Laura J. Durr | 81,673 | <1% | None disclosed | None (as of 12/31/2024, no non-employee director held unvested awards) | Company policy prohibits hedging and pledging . |
Anti-hedging and anti-pledging policies apply to all directors and prohibit collars, swaps, and pledging Owlet stock, enhancing alignment and reducing risk .
Governance Assessment
- Independence and expertise: Durr is independent, Audit Chair, and an Audit Committee Financial Expert—strengthening financial oversight and controls .
- Conflict management: Her leadership on the Special Committee addressed board/interlock conflicts in the 2025 Warrant Exchange via independent advisors, negotiated lockups, and stockholder approval—mitigating perceived conflicts (Stoll recused) .
- Attendance and engagement: ≥75% attendance across Board and committees in 2024 indicates active engagement; signed Audit Committee Report affirming 2024 financials .
- Ownership alignment: Holds 81,673 shares and director equity is time-based RSUs; anti-hedging/pledging policy enhances alignment; no unvested director awards outstanding at 12/31/2024 .
- Compensation mix: Balanced cash ($82,500 in 2024) and equity ($160,222 RSU value) with an annual cap of $1,000,000 under the Amended Plan; RSU sizing formula promotes equity alignment without performance targets .
- Minority investor risk signal: Post-Exchange concentrations (Eclipse ~38.0% and Trilogy ~10.3% combined voting power) warrant continued vigilance; Special Committee and shareholder vote partially mitigate governance risk .
Overall, Durr’s audit leadership, independence, and structured conflict management through a Special Committee strengthen board effectiveness; ongoing monitoring is prudent given elevated ownership concentration among related holders post-Exchange .