Bradley Thress
About D. Bradley Thress
Independent director of Park Aerospace Corp. since 2021; age 63. Former President & CEO of FlightSafety International (Feb 2020–Oct 2024), with prior 28-year tenure at Textron Aviation in senior leadership roles; holds a B.E. in Engineering Science & Mechanics (University of Tennessee) and an MBA (Baker University). Board tenure: four years; independence affirmed under NYSE standards; no related-party transactions disclosed .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FlightSafety International (Berkshire Hathaway) | President & CEO | Feb 2020–Oct 2024 | Led global pilot training operations across 11 countries; 1,800+ instructors and 4,000+ courses |
| Textron Aviation (subsidiary of Textron Inc.) | SVP roles: Global Parts, Programs & Flight Ops; Engineering; Business Jets; Customer Service; started as Demonstration Pilot | 1992–Feb 2020 | Senior operational, engineering, and customer-facing leadership across aircraft businesses |
| U.S. Air Force | T-38A Instructor Pilot; KC-135R Aircraft Commander; T-38A/AT-38B Detachment Commander | 1984–1992 | Military aviation training and command experience |
External Roles
| Organization | Role | Status | Interlock/Notes |
|---|---|---|---|
| FlightSafety International | President & CEO | Retired Oct 2024 | Berkshire Hathaway-owned; private company; no public company directorships disclosed |
| — | — | — | No other public company boards disclosed |
Board Governance
- Committees: Not listed as a member of Audit, Compensation, Stock Option, Nominating, or Corporate Governance committees (current members are Blanchfield, Groehl, Smith, Warshaw; Connor and Julian on some committees) .
- Independence: Affirmed by the Board under NYSE standards; not an employee .
- Attendance: Each director, including Thress, attended >75% of Board and committee meetings in the last fiscal year; independent directors met in executive session once; all directors attended the July 18, 2024 Annual Meeting .
- Board activity: FY ended Mar 2, 2025—Board met three times; committees met as follows: Audit (6), Compensation (1), Stock Option (1), Nominating (1), Corporate Governance (1) .
- Lead Independent Director: Dale Blanchfield (retiring as of Jul 22, 2025 AM) .
Fixed Compensation
| Item | FY 2025 (Mar 4, 2024–Mar 2, 2025) | FY 2024 (Feb 27, 2023–Mar 3, 2024) |
|---|---|---|
| Annual cash retainer (policy) | $28,000 per non-employee director | $25,000 per non-employee director |
| Lead Independent Director premium (policy) | +$10,000 | +$7,000 |
| Audit Committee member fee (policy) | $2,000; Chair $7,000 | $2,000; Chair $4,000 |
| Compensation Committee member fee (policy) | $2,000 | $2,000 |
| Thress – Cash earned | $26,867 | $25,000 |
Notes:
- Travel reimbursements provided; no meeting fees disclosed; company does not provide stock awards (RSUs/PSUs), non-equity incentives, or non-qualified deferred comp to directors .
Performance Compensation
Park grants only stock options to directors; no RSUs/PSUs; options have 10-year terms, strike price at fair market value, and standard 4-year ratable vesting (25% annually) .
| Metric | FY 2025 Detail | FY 2024 Detail |
|---|---|---|
| Option award grant-date fair value (Black-Scholes) | $11,410 (assumptions: 4.23% risk-free; 28.74% vol; 3.77% dividend; 8.55-year term; $13.26 exercise) | $10,675 (assumptions: 3.61% risk-free; 28.50% vol; 3.82% dividend; 8.31-year term; $13.08 exercise) |
| Vesting schedule | 25% after 1 year; 25% annually thereafter | 25% after 1 year; 25% annually thereafter |
| Repricing/dividends policy | No repricing without shareholder approval; no dividends or dividend equivalents on options | Same |
| Change-of-control | Double-trigger if options assumed/substituted; otherwise committee may accelerate vesting | Same |
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlock |
|---|---|---|---|
| None disclosed (public) | — | — | — |
| FlightSafety International | Private (Berkshire) | Former CEO | Industry relationships in training; no disclosed related-party transactions with Park |
Expertise & Qualifications
- Deep aerospace and aviation operations expertise from Textron Aviation senior leadership and military training background .
- Executive leadership of global training enterprise (FlightSafety) .
- Engineering and business education credentials (B.E., MBA) .
Equity Ownership
| Item | As of Jun 2, 2025 | As of Jun 3, 2024 |
|---|---|---|
| Beneficial ownership (SEC definition) | 15,250 shares; includes options exercisable within 60 days | 6,375 shares; includes options exercisable within 60 days |
| Options exercisable within 60 days | 14,250 | 5,375 |
| Director options outstanding (total) | 19,500 | 16,000 |
| Ownership % of outstanding shares | <1% | <1% |
| Shares outstanding (context) | 19,850,713 | 20,253,361 |
| Stock ownership guideline | Directors should own ≥1,000 shares; directors elected prior to 2021 satisfy; Thress (elected 2021) beneficially holds 15,250 including options |
Governance Assessment
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Strengths:
- Independent status with no related-party transactions; attendance met thresholds; participated in executive sessions .
- Aerospace operations and training expertise enhances board oversight in Park’s end markets .
- Director equity via options aligns with shareholder value; options granted at fair market value with standard vesting; robust plan governance (no repricing; non-employee director cap; double-trigger CoC) .
- Modest cash retainer and transparent fee structure .
-
Watch items:
- Not serving on core committees (Audit/Compensation/Nominating/Corporate Governance/Stock Option), which may limit direct influence on key oversight areas; consider future committee engagement to leverage industry experience .
- FlightSafety affiliation ended Oct 2024; ongoing external commitments not disclosed; monitor for any new roles or potential interlocks, though none are currently disclosed .
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Red flags: None apparent. No pledging or hedging disclosures; no loans, tax gross-ups, or option repricing; no related-party transactions; independence affirmed .