Biz Stone
BOSTON BEER COAbout Biz Stone
Christopher I. “Biz” Stone (age 51) joined The Boston Beer Company’s Board in 2024 as an independent Class B Director; he is an entrepreneur best known as co-founder of Twitter, Medium, Jelly, and the investment firm Future Positive, and has served as a Visiting Fellow at the University of Oxford for over ten years . Stone brings technical, product, and innovation expertise and has been recognized with the International Center for Journalism Innovation Award, named Entrepreneur of the Decade by INC (2021), listed in TIME 100, and GQ’s Nerd of the Year . His current tenure at SAM began with a mid‑year appointment on July 29, 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Co‑founder | Not disclosed | Product and platform innovation background | |
| Medium | Co‑founder | Not disclosed | Content/technology innovation |
| Jelly | Co‑founder | Not disclosed | Consumer product building |
| Future Positive | Co‑founder/investor | Not disclosed | Early-stage investing/strategic perspective |
| University of Oxford | Visiting Fellow | >10 years | Academic and thought leadership |
External Roles
| Organization | Role | Public Company? | Committee Roles |
|---|---|---|---|
| None disclosed | — | — | — |
| University of Oxford | Visiting Fellow | No | — |
Board Governance
- Independence: The Board determined Biz Stone is independent under NYSE and SEC standards; among Class B nominees, only Mr. Nemeth and Mr. Stone were independent as of the 2025 proxy .
- Committees: Stone serves on the Compensation Committee and the Nominating/Governance Committee; he is not a chair .
- Attendance: In FY2024, each Director attended at least 75% of aggregate Board and applicable committee meetings; all Directors attended the 2024 Annual Meeting .
- Executive sessions: Independent Directors met in executive session four times during FY2024; sessions are led by the Lead Director (Nemeth) with the Nominating/Governance Chair joining the report-back .
- Board size and changes: Board fixed at nine directors after a retirement; committee assignments to be re-established following May 2025 meetings due to the Audit Chair’s retirement .
Fixed Compensation
| Component | FY2024 Amount | Notes |
|---|---|---|
| Cash fees paid | $71,250 | Prorated annual retainer and committee fees due to July 29, 2024 appointment |
| Annual cash retainer (policy) | $75,000 | Non‑employee director schedule effective since Feb 2023 |
| Committee member fee (policy) | $10,000 per committee | For standing committee membership; Stone is on two committees |
| Committee chair fee (policy) | $20,000 | Not applicable to Stone |
| Lead Director fee (policy) | $20,000 | Not applicable to Stone |
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant Date Fair Value | Exercise Price | Vesting |
|---|---|---|---|---|---|
| Stock options (Director Plan) | Jul 29, 2024 | 1,590 | $113,866 | $290.91 | Options are fully vested at grant; expire in 10 years or 3 years post‑service |
| RSUs (Director Plan) | Jul 29, 2024 | 782 | $113,746 | — | RSUs vest one year from grant contingent on continued Board service |
| Policy baseline options (annual) | May 7, 2024 (board year cycle) | 568 (policy example) | $65k approx | $268.20 | Illustrative; Stone’s mid‑year grant detailed above |
| Policy baseline RSUs (annual) | May 7, 2024 (board year cycle) | 243 (policy example) | $65k approx | — | Illustrative; Stone’s mid‑year grant detailed above |
Performance metrics for director equity are time‑based in the Director Equity Plan (not company performance‑based); options are valued via a trinomial model and vest immediately, while RSUs vest after one year of service .
Other Directorships & Interlocks
| Company | Role | Public? | Overlap/Interlock |
|---|---|---|---|
| None | — | — | None disclosed |
Expertise & Qualifications
- Entrepreneurial and technical expertise with a track record of founding scaled consumer technology platforms (Twitter, Medium, Jelly) and investing via Future Positive .
- Recognitions include International Center for Journalism Innovation Award, INC Entrepreneur of the Decade (2021), TIME 100, and GQ Nerd of the Year, supporting external credibility and investor confidence in innovation oversight .
- Academic engagement as Visiting Fellow at Oxford for over a decade, enhancing governance perspective and strategic thinking .
Equity Ownership
| Category | Amount | Details |
|---|---|---|
| Total beneficial ownership (as of record date Mar 19, 2025) | 2,372 shares | Less than 1% of outstanding Class A shares |
| Options exercisable | 1,590 | Director Equity Plan option grant on Jul 29, 2024; fully vested at grant |
| RSUs unvested | 782 | Director RSUs granted Jul 29, 2024; vest one year from grant |
| Ownership guidelines | Target ownership equals 4× annual cash director fee; company reported 4 Directors met guidelines and 6 had yet to meet as of Feb 2025 (individual status not disclosed) | |
| Hedging/pledging | Prohibited for Directors; annual certification required |
Governance Assessment
- Alignment: Independent status with seats on Compensation and Nominating/Governance aligns expertise to pay oversight, board composition, succession, and ESG governance; his signature on the Compensation Committee Report evidences active participation and oversight rigor .
- Compensation mix: Director pay tilts toward equity (options and RSUs) plus base retainer, with immediate option vesting and one‑year RSU vesting; mid‑year appointment produced higher grant counts (782 RSUs, 1,590 options), aligning incentives to shareholder value via equity but without performance gates typical of executives .
- Ownership: Beneficial ownership of 2,372 shares reflects early tenure; strong anti‑hedging/pledging policy mitigates alignment risks; stock ownership guidelines target 4× cash fee with company-wide progress tracked, though Stone’s specific compliance status isn’t disclosed .
- Attendance and engagement: Board‑wide disclosure indicates at least 75% attendance for each Director and full attendance at the 2024 Annual Meeting; independent Directors met in four executive sessions, supporting board effectiveness; Lead Director structure reinforces independent oversight .
- Conflicts and related parties: No material related‑party transactions since Jan 1, 2024; Stone is not cited in historical related‑party arrangements, lowering conflict risk .
- Structural considerations: Dual‑class stock and plurality voting are cited by investors as governance concerns; while not specific to Stone, they influence overall board accountability context; company reports ongoing engagement with investors and no plans to sunset dual‑class or change voting standard .
RED FLAGS
- None specific to Biz Stone identified: no related‑party transactions, no hedging/pledging, and no attendance deficits disclosed .
- Portfolio interlocks: None disclosed; lowers information flow or conflict risks with customers/suppliers/competitors .
Key Committee Oversight Notes
- Compensation Committee: Oversees executive and director pay, equity plans, and bonus scales; retained FW Cook for benchmarking; Stone is listed as a member in the 2025 Compensation Committee Report, indicating active involvement in CD&A review and recommendations .
- Nominating/Governance Committee: Oversees board composition, independence, leadership structure, self‑evaluations, succession protocols, and ESG oversight; Stone’s participation positions him to influence board effectiveness and governance upgrades .
Overall, Biz Stone’s independent status, innovation expertise, and committee roles on Compensation and Nominating/Governance support board effectiveness and alignment; equity‑weighted director pay and anti‑hedging policies underpin investor confidence, with no Stone‑specific conflicts or attendance issues disclosed .