Robert J. Lipstein

About Robert J. Lipstein

Robert J. Lipstein, age 69, has served as an independent director of Seacoast Banking Corporation of Florida since 2019 and serves on the board of Seacoast National Bank as well . A retired senior partner at KPMG LLP and a certified public accountant, he brings 40+ years of audit, governance, IT, and enterprise risk experience; the board has designated him an Audit Committee Financial Expert and he currently chairs SBCF’s Audit Committee . His credentials include a bachelor’s in accounting from the University of Delaware, graduation from the University of Pennsylvania Director Institute, and emeritus status with the Weinberg Center for Corporate Governance .

Past Roles

External Roles

Board Governance

Fixed Compensation (Non‑Employee Director Pay – FY2024)

Performance Compensation (Director Equity)

Other Directorships & Interlocks

Expertise & Qualifications

• CPA; extensive audit, financial reporting, internal controls, and risk management expertise .
• Executive leadership in IT/business services; relevant to SBCF’s IT and cybersecurity oversight via ITC .
• Designated Audit Committee Financial Expert; chairs SBCF’s Audit Committee and multiple external audit committees .
• Education: B.S. in Accounting (University of Delaware); University of Pennsylvania Director Institute; Weinberg Center emeritus .

Equity Ownership

Insider Trades (last 24 months)

Governance Assessment

• Strengths

  • Audit Committee Chair with “Financial Expert” designation; strong oversight of financial reporting, internal controls, auditor independence; Audit Committee met eight times in 2024, with private sessions with and without management .
  • Multidisciplinary skills (audit, risk, IT) mapped to SBCF’s committee structure (Audit, ERMC, ITC), enhancing board effectiveness in risk and cybersecurity oversight .
  • High investor support: 2025 re-election garnered 64.0M “For” vs. 1.4M “Withheld” votes, signaling confidence in his oversight .
  • Director equity and ownership guidelines promote alignment; hedging banned and pledging tightly controlled .

• Compensation structure

  • Equity vs. cash mix: Lipstein’s 2024 pay $157,508, with cash $70,000 and stock $87,508; equity slightly outweighs cash, aligning incentives with shareholders .
  • 2024 stock retainer increased by $25,000 (to $87,500 total), reflecting added workload and peer alignment; 2025 introduces committee member retainers, increasing fixed cash for members .

• Potential conflicts and monitoring

  • Multiple external bank audit chair roles (Firstrust/Hatch) could create perceived conflicts if business dealings occur with SBCF; however, SBCF’s policy requires Audit Committee approval of related-party transactions, and none are disclosed involving Lipstein .
  • Related-party transaction example (Gilbert Ford vehicle purchase) demonstrates Audit oversight controls; committee independence affirmed .

• Shareholder signals to monitor

  • Company-level say-on-pay support fell materially in 2025 (39.8M For vs. 25.4M Against), though 2024 was 97%—watch for investor feedback on pay practices and risk oversight, which Audit Chair can influence via controls and disclosure quality .

RED FLAGS: None disclosed specific to Lipstein (no related-party transactions; hedging prohibited; pledging limited) . Monitor for any future interlocks or transactions with institutions where he chairs audit committees.

Appendix: Director Compensation Detail (FY2024)

Appendix: Director Equity Grants (FY2024)

Appendix: Board Committee Memberships & Meetings (2024)

Appendix: Ownership Table (Record Date: 2025-03-24)