Kenneth Possenriede
About Kenneth Possenriede
Independent Class III director (age 65) appointed August 2024; serves on the Audit Committee and Compensation Committee, and is designated an audit committee financial expert. Former EVP & CFO of Lockheed Martin; MBA (University of Michigan) and BA in Economics (Rutgers). Independent under Nasdaq rules; attended at least 75% of Board/committee meetings in 2024. Tenure on the RKLB board began August 21, 2024, with continuing service as of the 2025 proxy .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lockheed Martin Corporation | Executive Vice President & Chief Financial Officer | Feb 2019 – Aug 2021 | Senior finance leadership at major defense prime |
| Lockheed Martin Aeronautics Company | VP, Finance & Program Management | Apr 2016 – Feb 2019 | Led accounting, contracts, FP&A, scheduling, earned value |
| Lockheed Martin Corporation | Vice President & Treasurer | 2011 – Apr 2016 | Led global treasury ops, FX, capital markets, ratings, capital planning, risk management |
| Lockheed Martin Electronic Systems | VP, Finance | Prior to 2011 | Oversight of financial and contractual processes |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Rutgers Foundation Board of Directors | Advisor | Current | Governance/finance advisory role |
Board Governance
- Committee memberships: Audit Committee (member), Compensation Committee (member). Audit Committee chaired by Jon Olson; Compensation Committee chaired by Edward Frank .
- Audit committee financial expert: Possenriede qualifies under SEC regulations; financially literate per Nasdaq rules .
- Independence: Board determined all directors except CEO Peter Beck are independent under Nasdaq/SEC rules .
- Attendance: Each Board member attended at least 75% of Board and applicable committee meetings in 2024 .
- Board leadership: Lead Independent Director is Merline Saintil; independent directors hold regular executive sessions .
Fixed Compensation
| Component | Amount | Period/Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $6,575 | 2024 director cash fees (partial-year) |
| Annual Board Retainer (policy) | $50,000 | Prorated for partial years |
| Committee Member Retainers (policy) | Audit $10,000; Compensation $10,000 | Prorated; chair roles higher (not applicable) |
| Lead Director/Chair adders (policy) | $30,000 (Lead); $30,000 (Non-exec Chair) | Not applicable to Possenriede |
Performance Compensation
| Equity Element | Grant/Value | Vesting | Notes |
|---|---|---|---|
| One-time Initial RSU Grant | $360,000 value | Three equal annual installments | Granted upon board appointment (Aug 21, 2024) |
| Pro-Rated Annual RSU Grant | Pro-rated portion of $180,000 | Vests at next annual meeting or 1-year anniversary | Per director policy for off-cycle joins |
| 2024 Stock Awards (aggregate reported) | $634,337 | As granted in 2024 | Total RSU grant-date fair value reported in 2024 |
| RSUs Outstanding (as of 12/31/2024) | 90,218 units | Time-based per policy | Outstanding/unvested units |
| Options | None disclosed | — | RKLB did not grant options to directors in 2024 |
Performance metrics tied to director compensation: None disclosed; director equity is time-based RSUs only; director awards accelerate in full upon a sale of the company per policy (change-in-control acceleration) .
Other Directorships & Interlocks
| Company | Role | Committees |
|---|---|---|
| None disclosed in proxy | — | — |
No other public company boards were disclosed for Possenriede in the RKLB proxy; his background is primarily Lockheed Martin senior finance roles and a Rutgers Foundation advisory position .
Expertise & Qualifications
- Senior finance leadership (CFO, Treasurer) at Lockheed Martin; program management finance at Aeronautics .
- Audit Committee financial expert; financial literacy per Nasdaq rules .
- Degrees: MBA (University of Michigan); BA Economics (Rutgers) .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Beneficial Ownership (as of 7/9/2025) | 45,686 shares | Less than 1% voting power |
| RSUs vesting within 60 days (of 7/9/2025) | 22,265 shares | Included in beneficial ownership computations per SEC rules |
| RSUs Outstanding (as of 12/31/2024) | 90,218 units | Unvested time-based RSUs |
| Shares pledged as collateral | None disclosed for Possenriede | RKLB anti-pledging policy; CFO pledge expressly disclosed, not for Possenriede |
| Hedging/Pledging Policy | Prohibited absent Nominating & Governance Committee approval | Company-wide insider trading policy |
Ownership alignment: 2024 director pay heavily equity-based (~99% of 2024 comp in stock awards vs ~$6.6k cash), indicating alignment with shareholder value creation; figures: $634,337 stock awards vs $6,575 cash fees .
Governance Assessment
- Board effectiveness: Possenriede adds deep aerospace finance and program management expertise; his audit committee financial expert status strengthens financial oversight during RKLB’s scaling phase .
- Independence and conflicts: Board affirmed independence; the “Related Party Transactions” section discloses no transactions over $120k involving directors other than specified items (none for Possenriede), mitigating conflict risk despite prior Lockheed Martin affiliation .
- Engagement: Attendance threshold met; committee service on Audit and Compensation indicates active governance engagement .
- Compensation structure signals: Director compensation is standard—cash retainers plus time-based RSUs, with acceleration on sale of company; no performance metrics, options, or unusual perquisites for directors. Company-wide policies include anti-hedging/pledging and a Dodd-Frank compliant clawback for executive incentive pay (clawback applies to executives, not directors) .
- Shareholder sentiment: Say-on-Pay support ~99% at 2024 annual meeting, a positive governance signal reflecting investor confidence in comp oversight (context for board’s Compensation Committee, where Possenriede serves) .
RED FLAGS
- Change-in-control acceleration for director RSUs can be shareholder-sensitive (single-trigger on sale for directors) though common; monitor for potential entrenchment incentives .
- No director-specific ownership guidelines disclosed; continued tracking of director ownership growth advisable to reinforce alignment (policy excerpt does not include guidelines).
Additional Notes
- Audit Committee responsibilities include internal control oversight, fraud reporting, related-party review, and auditor independence—areas where Possenriede’s finance background is directly applicable .
- Lead Independent Director structure and regular executive sessions strengthen independent board oversight .