Paul J. Plante
RICHARDSON ELECTRONICSAbout Paul J. Plante
Independent director of Richardson Electronics (RELL) since October 2011; currently serves as Lead Independent Director and is designated an “Audit Committee Financial Expert” under SEC rules . Age 67 with a career spanning finance and operations in electronics manufacturing, including prior CEO, COO, and CFO roles; licensed CPA with a degree in accounting . As lead director, he liaises with the CEO, helps set board agendas, and chairs executive sessions of non‑management directors . Each director, including Mr. Plante, attended at least 75% of Board and committee meetings in fiscal 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Reptron Electronics, Inc. | President & CEO; Director | 2004–2007 | Led company through successful pre‑arranged Chapter 11 reorganization; strengthened balance sheet and liquidity without significant loss of customers, employees, or suppliers . |
| Reptron Electronics, Inc. | President & COO | 1994–2004 | Managed electronics manufacturing operations, medical focus . |
| Reptron Electronics, Inc. | CFO | Pre‑1994 | Financial leadership prior to COO/CEO roles . |
| K‑Byte, Inc. | CFO | Pre‑1994 | Software and electronics manufacturer; financial leadership . |
| Kimball Electronics Group | VP, Medical Industry Solutions | Feb 2007–May 2008 | Post‑acquisition integration of Reptron’s business . |
| Florida Fresh Vending, LLC | Founder & Owner | Dec 2008–Mar 2022 | Built statewide vending business; sold to Cardinal Vending & Markets in Mar 2020 . |
| Electronics industry | Consultant | Since 2008 | Advisory services to electronics companies . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SigmaTron International, Inc. | Director (public company) | Not stated | Current outside public company directorship . |
| Cardinal Vending & Markets, LLC | Director & Consultant (private) | Since Mar 2020 | Buyer of Florida Fresh Vending; ongoing advisory role . |
| Florida Fresh Vending, LLC | Founder/Owner (private) | 2008–2022 | Sold to Cardinal Vending & Markets in Mar 2020 . |
Board Governance
- Independence: Board determined Mr. Plante is independent under Nasdaq standards; all members of Audit, Compensation & Governance, and Nominating committees were independent in FY2025 .
- Lead Independent Director: Selected by the Board; sets agendas with the Chair/CEO, chairs executive sessions, channels feedback to management . Executive sessions of non‑management directors occur regularly .
- Attendance: Board held 4 regular meetings; each director attended at least 75% of Board and committee meetings in FY2025 .
- Committee assignments (FY2025): Audit (Chair), Compensation & Governance (Chair), Nominating (Chair), Executive (Member) .
| Committee | Role | FY2025 Meetings |
|---|---|---|
| Audit | Chair | 4 meetings |
| Compensation & Governance | Chair | 4 meetings |
| Nominating | Chair | Not disclosed |
| Executive | Member | 0 meetings in FY2025 |
Fixed Compensation
Program structure for non‑employee directors (adopted FY2025): quarterly cash retainer $4,500; Audit Committee Chair additional quarterly retainer $1,500; meeting fees: $1,000 per Audit Committee meeting and $750 per Board/other committee meeting; initial restricted stock award $50,000; annual restricted stock award $50,000 at fiscal year‑end, fully vested at grant .
| FY2025 Director | Fees Earned or Paid in Cash ($) | Restricted Stock Awards ($) | Total ($) |
|---|---|---|---|
| Paul J. Plante | 35,500 | 50,009 | 85,509 |
Performance Compensation
- Director equity awards are time‑vested and fully vested at grant; no performance‑conditioned equity disclosed for directors .
| Performance Metric | Weight/Target | Outcome/Payout Basis |
|---|---|---|
| None disclosed for non‑employee director compensation | — | Director equity grants fully vested at grant; no performance metrics specified . |
Note: Company discloses executive compensation performance metrics (operating income, revenue, cash and investing targets), but these apply to Named Executive Officers, not to non‑employee directors .
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Conflict Disclosure |
|---|---|---|---|
| SigmaTron International, Inc. | Public | Director | No related‑party transactions with RELL disclosed for FY2025 . |
Expertise & Qualifications
- Financial expertise: Licensed CPA; designated “Audit Committee Financial Expert” under SEC rules .
- Industry leadership: Decades in electronics manufacturing; prior CEO/COO/CFO at Reptron; integration experience post‑acquisition at Kimball Electronics .
- Restructuring experience: Led Reptron through a successful pre‑arranged Chapter 11 with no significant loss of customers, employees, or suppliers .
- Governance leadership: Lead Independent Director; chairs Audit, Compensation & Governance, and Nominating committees .
Equity Ownership
As of August 8, 2025.
| Holder | Common Shares Beneficially Owned | Details | % of Common | Notes |
|---|---|---|---|---|
| Paul J. Plante | 28,168 | Includes 10,000 options exercisable within 60 days, 8,823 common shares, and 9,345 restricted stock awards fully vested as of July 21, 2025 . | * (<5%) | Voting power one vote per common share . |
Stock ownership guidelines for directors: Minimum investment $150,000, of which $100,000 must be purchased outside retainer awards; compliance required by August 1, 2027; compliance checked annually on August 1 .
Governance Assessment
- Strengths: Independent director; serves as Lead Independent Director; chairs key oversight committees (Audit; Compensation & Governance; Nominating); designated Audit Committee Financial Expert; satisfactory attendance; no related‑party transactions reported for FY2025 .
- Potential concerns to monitor:
- Combined Chair/CEO roles at RELL (mitigated by a robust lead independent director structure and regular executive sessions chaired by Mr. Plante) .
- Director equity grants are fully vested at grant, which may reduce performance and retention linkage versus PSU frameworks; however, ownership guidelines (minimum $150,000) are intended to support alignment .
- Alignment: Beneficial ownership disclosed; director ownership guidelines impose a clear minimum and purchase requirement by August 1, 2027; individual compliance status is not disclosed in the proxy .
Related‑Party Exposure and Conflicts
- Policy/Process: Related‑party transactions involving directors are reviewed and must be approved by the Audit Committee; standards guided by the Code of Conduct .
- FY2025: No related‑party transactions disclosed (none involving Mr. Plante reported) .
Director Compensation Policy Snapshot (Structural Elements)
| Element | Amount/Terms |
|---|---|
| Quarterly cash retainer | $4,500 per quarter |
| Audit Chair retainer | Additional $1,500 per quarter |
| Meeting fees | $1,000 per Audit Committee meeting; $750 per Board/other committee meeting |
| Initial equity | $50,000 restricted stock (grant‑date value) |
| Annual equity | $50,000 restricted stock (grant‑date value), granted after fiscal year end but no later than August 1; fully vested at grant |
| Ownership guideline | $150,000 minimum investment; $100,000 purchased outside retainer awards; compliance by August 1, 2027 |