Arret Dobson
About Arret Dobson
Arret F. Dobson, 53, has served as a director of Parke Bancorp, Inc. since 2007 and is currently Vice Chairman of the Board of Directors of the Company and the Bank . He has been a builder and land developer since 1989, and is co-owner of Dobson Turf Management, which specializes in athletic field construction and maintenance with a retail division selling powersports and specialty equipment across the tri-state area . He is a non-employee director and deemed independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Various residential and commercial projects | Builder and land developer | 1989–present | Brings diversified business background supporting understanding of business trends |
External Roles
| Organization | Role | Domain | Tenure | Scope/Impact |
|---|---|---|---|---|
| Dobson Turf Management | Co-owner | Athletic field construction and maintenance | Current | Services recreation complexes, universities, school districts, golf courses; retail division selling powersports and specialty equipment in tri-state area |
Board Governance
- Role: Vice Chairman of the Board (Company and Bank) .
- Independence: All non-employee directors (including Mr. Dobson) are independent under Nasdaq rules; all members of Audit, Compensation, and Nominating Committees are independent .
- Attendance: Board met 13 times in 2024; no director attended fewer than 75% of Board and committee meetings on which they served .
- Annual Meeting: All Board members attended online the 2024 virtual annual meeting of shareholders .
- Hedging/Pledging Policy: The Company has not adopted an anti-hedging and anti-pledging policy for directors, officers, and employees .
| Committee | Role | Chair | Meetings in FY2024 |
|---|---|---|---|
| Audit Committee | Member | Fred G. Choate | 4 |
| Compensation Committee | Member | Not disclosed | 1 |
| Nominating Committee | Member | Not disclosed | 1 |
Fixed Compensation
| Metric | FY2023 | FY2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $153,000 | $163,100 |
| Board Meeting Fee (per director) | $3,000 (structural amount) | $3,000 (structural amount) |
| Vice Chairman Retainer | $25,000 (structural amount) | $25,000 (structural amount) |
| Discretionary Bonus (Vice Chairman) | $31,600 (structural amount) | $31,600 (structural amount) |
| Committee Meeting Fees | Paid for attendance (amounts not itemized per director) | Paid for attendance (amounts not itemized per director) |
| Equity Grants to Directors | None; directors received cash only | None; directors received cash only |
| Source of Director Fees | Paid by the Bank; no additional Company fees | Paid by the Bank; no additional Company fees |
Notes: “Structural” items reflect the board-approved fee schedule applicable to roles and are not individualized award descriptions; total paid to Mr. Dobson in 2024 was $163,100 .
Performance Compensation
| Performance Element | FY2023 | FY2024 |
|---|---|---|
| Performance metrics tied to director pay (e.g., TSR, revenue growth) | None disclosed | None disclosed |
| RSUs/PSUs (grant date, shares, fair value) | None; directors received cash only | None; directors received cash only |
| Option awards (new grants, strike, expiration, vesting) | None disclosed for directors in year | None disclosed for directors in year |
| Clawback provisions (director-specific) | Not disclosed | Not disclosed |
Other Directorships & Interlocks
| Company | Role | Type | Tenure | Notes |
|---|---|---|---|---|
| None disclosed | — | Public company | — | Mr. Dobson’s biography lists other public company directorships if any; none are disclosed for the last five years . |
Expertise & Qualifications
- Builder/Developer since 1989 with diversified experience across residential and commercial projects .
- Co-owner of operations serving collegiate and municipal athletic field construction/maintenance and powersports retail, providing market knowledge across regional customer segments .
- Board leadership experience as Vice Chairman supporting governance and strategic oversight .
Equity Ownership
| Metric | Record Date (2023) | Record Date (2025) |
|---|---|---|
| Shares of Common Stock Beneficially Owned | 198,493 | 203,993 |
| Percent of Class | 1.61% | 1.68% |
| Options Exercisable within 60 Days (included in beneficial tally) | 22,375 | 27,875 |
| Shares Pledged as Collateral | Not disclosed | 50,000 |
Options detail at December 31, 2024:
| Metric | 12/31/2024 |
|---|---|
| Total Options Owned (number) | 30,875 |
Governance Assessment
- Independence and Service: Non-employee director; independent under Nasdaq rules; Vice Chairman; member of Audit, Compensation, and Nominating Committees, with documented committee activity in 2024 (Audit met 4x; Compensation 1x; Nominating 1x) .
- Attendance and Engagement: Board met 13 times in 2024; no director fell below 75% attendance; all directors attended the 2024 virtual annual meeting .
- Compensation Structure: Director compensation is cash-only (no equity grants), with defined retainers and discretionary bonuses for roles such as Vice Chairman; Mr. Dobson’s total cash fees were $163,100 in 2024 (vs. $153,000 in 2023) .
- Ownership Alignment and Risks: Mr. Dobson beneficially owns 203,993 shares (1.68% of class), including 27,875 options exercisable within 60 days; he has pledged 50,000 shares as collateral, and the Company has not adopted an anti-hedging and anti-pledging policy—this combination presents alignment and leverage risks for investors .
- Related Party Exposure: The Bank extends related-party loans in the ordinary course with terms similar to other customers; aggregate outstanding principal for officers/directors/affiliates was $500,000 at year-end 2024 (no director-specific loan disclosures provided) .
RED FLAGS
- Shares pledged as collateral: 50,000 shares pledged by Mr. Dobson .
- No anti-hedging/anti-pledging policy adopted by the Company for directors/officers/employees .
- Low meeting frequency for Compensation and Nominating Committees (1 meeting each in 2024), which may limit oversight depth .