Peter Feld
QorvoAbout Peter A. Feld
Peter A. Feld (age 46) is the Managing Member, Portfolio Manager and Head of Research at Starboard Value LP (since April 2011), and is nominated to join Qorvo’s Board in 2025 as an independent director; he holds a B.A. in Economics from Tufts University. The Board increased its size to 10 on May 16, 2025 and included Feld among the Company’s nominees; the Board has determined he meets Nasdaq independence standards, with committee assignments to be determined after the Annual Meeting. Feld previously served on multiple public company boards across technology and services, including Gen Digital (2018–May 2025) and several others listed below.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Gen Digital Inc. | Director | Sep 2018 – May 2025 | Not disclosed |
| Green Dot Corporation | Director | Mar 2022 – Oct 2023 | Not disclosed |
| GCP Applied Technologies, Inc. | Director | Jun 2020 – Sep 2022 (acquired) | Not disclosed |
| Magellan Health, Inc. | Director | Mar 2019 – Jan 2022 (acquired) | Not disclosed |
| AECOM | Director | Nov 2019 – Jun 2020 | Not disclosed |
| Marvell Technology Group Ltd. | Director | May 2016 – Jun 2018 | Not disclosed |
| The Brink’s Company | Director | Jan 2016 – Nov 2017 | Not disclosed |
| Insperity, Inc. | Director | Mar 2015 – Jun 2017 | Not disclosed |
| Darden Restaurants, Inc. | Director | Oct 2014 – Sep 2015 | Not disclosed |
| Tessera Technologies (Xperi) | Director | Jun 2013 – Apr 2014 | Not disclosed |
| Integrated Device Technology, Inc. | Director | Jun 2012 – Feb 2014 | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Starboard Value LP | Managing Member, Portfolio Manager, Head of Research | Apr 2011 – present | Activist investment manager; Feld may share voting/dispositive power over QRVO shares held by Starboard accounts |
| Ramius LLC | Managing Director, Head of Research (Value & Opportunity platform) | Feb 2005 – 2011 | Prior to founding Starboard |
| Banc of America Securities LLC | Analyst, Technology Investment Banking | Pre-2005 | Early career |
Board Governance
- Independence: The Board determined Feld (and all committee members) are independent under Nasdaq standards.
- Committee assignments: To be determined post-Annual Meeting.
- Board leadership: Chair and Lead Independent Director is Dr. Walden C. Rhines; Board separates Chair and CEO roles.
- Executive sessions: Independent directors met in executive session at all regularly scheduled Board meetings in FY25.
- Attendance: In FY25, all then-serving directors attended ≥75% of Board and assigned committee meetings; Feld was a nominee, not a sitting director. The Board held 15 meetings; Audit 7; Compensation 8; Governance & Nominating 9.
- Voting standard: Majority voting in uncontested director elections; election is uncontested following Starboard’s withdrawal of its nomination notice.
Fixed Compensation
| Item | Amount ($) | Notes |
|---|---|---|
| Board Service annual retainer | 95,000 | Applies to all directors (including Chair) |
| Chair of the Board additional retainer | 110,000 | In addition to Board Service retainer |
| Audit Committee Chair retainer | 30,000 | Additional chair fee |
| Compensation Committee Chair retainer | 20,000 | Additional chair fee |
| Governance & Nominating Committee Chair retainer | 15,000 | Additional chair fee |
| Annual RSU grant (re-elected non-employee directors) | ~225,000 | Vests on earlier of 1-year or day before next AGM |
| Director stock ownership guideline | 5x annual cash retainer | 5-year compliance window |
| Deferrals/perquisites | Plan deferrals allowed; medical insurance at director’s expense | Deferral of cash retainers; optional group medical participation |
Performance Compensation
| Element | Metric | Target/Structure | Vesting | Notes |
|---|---|---|---|---|
| Director Equity | None (RSUs are time-based) | ~$225k grant value | Earlier of 1-year or pre-AGM | No performance metrics disclosed for director grants |
| Plan limits (non-employee directors) | Total annual comp cap | $750,000 total value (cash + equity) | N/A | Per Amended & Restated 2022 Plan |
Other Directorships & Interlocks
- Current public company boards for Feld: None disclosed as current as of the 2025 proxy; prior roles listed above.
- Potential interlocks at QRVO: Judy Bruner and Richard L. Clemmer serve on Seagate’s board; Clemmer also serves on HP Inc.’s board. These are not disclosed as conflicts but are notable for information flow.
- Independence reaffirmed broadly: 100% of non-executive directors independent; 89% of all current directors independent.
Expertise & Qualifications
- Capital markets and governance: Extensive activist and board experience across semiconductors, technology, and services.
- Finance and corporate strategy: Head of Research roles at Starboard and Ramius; technology banking background.
- Education: B.A. in Economics, Tufts University.
Equity Ownership
| Holder/Attribution | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Entities affiliated with Starboard Value LP | 8,270,655 | 8.9% | Based on 93,006,671 shares outstanding; Feld may be deemed to share voting/dispositive power via Starboard accounts |
| Feld personal pledge/hedge status | None pledged; hedging/pledging prohibited | N/A | No directors or executive officers have pledged stock; company prohibits hedging/pledging |
| Director ownership guideline | 5x annual retainer | N/A | Compliance window is 5 years; personal compliance status not disclosed for Feld (new nominee) |
Governance Assessment
-
Strengths
- Independence affirmed; Chair and all committee chairs are independent; robust governance (majority voting; executive sessions; stock ownership guidelines).
- Clear conflicts policy; no related-person transactions requiring disclosure since March 30, 2024.
- Board refreshment with three new independent directors and inclusion of Feld as nominee; enhanced special meeting rights (25% holders).
-
Watch items / Red flags
- Significant beneficial ownership by Starboard (8.9%) with Feld potentially sharing voting/dispositive power could raise alignment questions between an activist block and broader shareholders; continuous monitoring of committee placement and influence is warranted.
- Committee assignments for Feld are TBD; investors should monitor for any concentration of influence across key committees once assigned.
-
Alignment Signals
- Prohibition on hedging/pledging, director ownership guidelines (5x retainer) support long-term alignment.
- Non-employee director equity is time-based RSUs with a plan-level cap to limit pay escalation.