Allen Jacoby
PureCycle TechnologiesAbout Allen Jacoby
Allen Jacoby, 58, joined PureCycle’s Board in 2022. He is an independent director, serves as Lead Independent Director (since May 2022), and is a member of the Nominating & Corporate Governance (N&CG) Committee and the Operational Excellence (OpEx) Committee. He holds a B.S. in Chemical Engineering from Purdue and an MBA from Wharton (finance and entrepreneurial management). Jacoby’s 30+ years in chemicals/plastics include R&D, manufacturing, business leadership, strategy, and M&A; he currently serves as Executive Vice President and President, Textiles at Milliken & Company (previously Chief Strategy Officer, SVP Corporate Development & Head of Innovation, and SVP Plastics Additives) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Milliken & Company | Executive Vice President & President, Textiles | 2025–present | Senior operator overseeing textiles business |
| Milliken & Company | Chief Strategy Officer; SVP Corporate Development; Head of Innovation | 2021–2024 | Strategy, corporate development, innovation leadership |
| Milliken & Company | SVP, Plastics Additives | May 2013–June 2021 | Led plastics additives business |
| Milliken & Company | Business Manager, Industrial Textiles | Sep 2009–May 2013 | Managed industrial textiles business |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Plastics Industry Association | Board Member | Not disclosed | Industry governance/advocacy |
| Alliance to End Plastic Waste | Board Member | Not disclosed | Sustainability and circularity focus |
Board Governance
| Item | Details |
|---|---|
| Independence | Board affirmed Jacoby’s independence under SEC/Nasdaq standards, considering his Milliken relationship and related-party agreements . |
| Lead Independent Director (LID) | Responsibilities include presiding over executive sessions, leading CEO evaluation, agenda setting with Chair/CEO, calling independent director meetings, and shareholder communications availability . |
| Committees (2025) | N&CG Committee (member; Chair: Jeffrey Fieler; 4 meetings in 2024) and OpEx Committee (member; 2 meetings in 2024) . |
| Committees (2023) | N&CG Committee Chair (Jacoby), with Fernando Musa as member; 4 meetings in 2023 . |
| Attendance (2023) | Board met 31 times; all current directors attended ≥75% of Board meetings; executive sessions held 7 times (presided by LID) . |
| Evaluations | Annual Board and committee self-evaluations overseen by N&CG; results reported to committees and full Board . |
Fixed Compensation
| Year | Base Cash Retainer ($) | LID Fee ($) | Committee Fees ($) | Equity Retainer (RSUs target $) | RSU Grant Date | Vesting | Notes |
|---|---|---|---|---|---|---|---|
| 2024 | 75,000 | 35,000 | N&CG Chair 15,000; OpEx Chair 15,000; Non‑Chair: Audit 15,000; Comp 10,000; N&CG 7,500; OpEx 10,000 | 125,000 | May 8, 2024 | Earlier of one year or next annual meeting | No tax gross‑ups for non‑employee directors . |
| 2023 | 75,000 | 35,000 | N&CG Chair 15,000; Non‑Chair: Audit 15,000; Comp 10,000; N&CG 7,500 | 125,000 | May 10, 2023 | Earlier of one year or next annual meeting | No tax gross‑ups for non‑employee directors . |
| Director | 2024 Fees Earned ($) | 2024 Stock Awards ($) | 2024 Total ($) |
|---|---|---|---|
| Allen Jacoby | 123,125 | 115,324 | 238,449 |
| Director | 2023 Fees Earned ($) | 2023 Stock Awards ($) | 2023 Total ($) |
|---|---|---|---|
| Allen Jacoby | 117,500 | 148,620 | 266,120 |
Director stock ownership guidelines: increased from 3x to 4x annual base retainer in 2024; directors expected to meet within five years; as of Dec 31, 2024, all non‑employee directors were in compliance or expected to meet guidelines .
Performance Compensation
- Non‑employee director equity is time‑based RSUs; no director options disclosed. No performance‑metric‑linked pay for directors (comp metrics pertain to executive officers; director equity vests time‑based) .
- As of Dec 31, 2024, Jacoby held 24,177 RSUs outstanding (director grants) .
| Metric Category | Metric | Weight/Target | Measurement Period | Vesting/Trigger |
|---|---|---|---|---|
| Director Equity | RSU grant value | $125,000 target | Annual | Time‑based; earlier of 1 year or next annual meeting |
Other Directorships & Interlocks
| Relationship | Terms | 2023/2024 Activity | Notes |
|---|---|---|---|
| Milliken offtake agreement | 5‑year; up to 1,000,000 lbs annually; net 30 payments | 2023: 20,450 lbs sold; 2024: 20,540 lbs sold | Jacoby is a senior executive at Milliken; Board considered in independence determinations . |
| Milliken supply agreement (additives) | 10‑year exclusive supply; pricing “reasonable,” negotiated in good faith | 2023 payments: $502,032.19; 2024 orders: ~$576,360; 2025 additive cost estimate: ~$2.3–$3.7m (based on need; pay on delivery) | Related‑party transactions subject to Audit & Finance Committee review/approval policy . |
Expertise & Qualifications
- Chemical engineering and plastics industry leadership; senior operating, strategy, and innovation roles at Milliken .
- Education: B.S. Purdue (ChemE); MBA Wharton (finance, entrepreneurial management) .
- Industry/non‑profit boards: Plastics Industry Association; Alliance to End Plastic Waste .
Equity Ownership
| Date (as of) | Shares Beneficially Owned (#) | % Outstanding | Notes |
|---|---|---|---|
| Mar 21, 2025 | 60,117 | <1% | No pledging by directors/officers to company’s knowledge . Outstanding shares basis: 179,412,172 . |
| Mar 21, 2024 | 35,940 | <1% | No pledging by directors/officers to company’s knowledge . Outstanding shares basis: 164,444,265 . |
| Dec 31, 2024 | RSUs outstanding: 24,177 | — | Director grant inventory . |
Ownership guidelines: 4x base retainer effective 2024; compliance or expected compliance within 5 years .
Governance Assessment
- Strengths: Independent LID role with robust responsibilities; consistent committee participation; broad industrial expertise; RSU‑based director pay aligns with shareholder value; no tax gross‑ups; ownership guidelines increased to 4x retainer in 2024 (stronger alignment) .
- Engagement: 2023 Board met 31 times with ≥75% attendance by all current directors; seven executive sessions presided by LID .
- Conflicts/Related‑party exposure (RED FLAG to monitor): Milliken offtake and additive supply agreements create an ongoing related‑party relationship; however, Board has affirmed independence after review and the Audit & Finance Committee operates a formal policy for reviewing/approving related‑party transactions; 2023 and 2024 transaction details disclosed, with forward cost estimates for 2025 .
- Signals: Transition in N&CG Committee chair from Jacoby (2023) to Fieler (2024) while Jacoby remains LID and joins OpEx Committee—suggests refreshment and distribution of governance workload; creation of OpEx Committee in 2024 indicates focus on operational metrics and production scaling .
RED FLAGS: Related‑party transactions with Milliken (offtake and exclusive supply), requiring continued oversight and transparency; monitor pricing reasonableness and volume commitments under governance policies .