Jeremy Jones
About Jeremy Jones
Jeremy Jones (age 70) is a director nominee at SCI Engineered Materials with a long track record building businesses in advanced electronic and optical materials; he is currently the founder of Alithia Power, a North Carolina start-up developing next-generation power semiconductor chips . He holds an MS in Materials Engineering (Worcester Polytechnic Institute) and an MBA (Babson College), and completed executive programs at Williams College and MIT Sloan . He is being nominated for election at the June 17, 2025 Annual Meeting; if elected, his initial term will expire at the next annual meeting (SCI uses one-year director terms) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Polaroid Corporation | Business builder in optical materials; initiated new market entries | ~20-year career (dates not specified) | Drove proprietary optical materials into automotive, defense, and flat-panel display markets |
| Motorola | Marketing role | Dates not specified | Built commercial skills before Cabot move |
| Cabot Corporation (later Cabot Microelectronics spin-out) | Led new business efforts in CMP (chemical mechanical planarization); VP of New Businesses after 2001 spin-out | Joined 1998; VP post-spin-out in 2001 | Advanced semiconductor process materials; leadership through corporate transition |
| Koch Industries (Koch Genesis Open Innovation) | Vice President | 2005 onward (years in role not fully specified) | Led deal sourcing/diligence/investments in biofuels/biochemicals; initiated JV with Crailar Technologies |
| Nitride Solutions, Inc. | Founder, CEO, Director | Founded 2009; built for 11 years; exited 2021 | Commercialized high-temp process for aluminum nitride; company entered Chapter 11 in June 2021; case settled Dec 1, 2021 via asset sale to Night Rain Ventures; operations continue as Nitride Global Inc. (risk indicator) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alithia Power (North Carolina start-up) | Founder | Current | Developing next-gen power semiconductor chips |
| Crailar Technologies (Canada) | Director (asked to join following JV initiation) | Dates not specified | JV initiated while at Koch Genesis; joined the Board subsequently |
| Nitride Global Inc. (successor to Nitride Solutions assets) | None disclosed | N/A | Post-asset sale reference; no ongoing role disclosed for Jones |
Board Governance
- Current status at SCI: Director nominee for election at 2025 Annual Meeting (seven nominees for one-year terms) .
- Committee structure at SCI: Audit Committee (Chair: John Gilliam), Stock Option and Compensation Committee (Chair: Dr. Edward Ungar, not seeking reelection), Technical Committee (Chair: Dr. Charles Wickersham); SCI does not have a standing Nominating Committee due to limited board size .
- Board leadership: Chairperson of the Board is Laura F. Shunk; SCI has no Lead Independent Director .
- Attendance: The board met six times in 2024; all directors attended every meeting (Jones was not yet a director in 2024) .
- Independence: Audit Committee members meet Nasdaq Rule 4350 and SEC Rule 10A-3 independence; SCI does not specifically designate Jones’s independence in the proxy (he is a non-employee nominee) .
Fixed Compensation
| Component | Amount/Policy | Notes |
|---|---|---|
| Annual cash retainer for non-employee directors | $36,000 (2024) | Paid entirely in cash for 2024; directors reimbursed for reasonable out-of-pocket expenses |
| Chairperson of the Board fee | $7,500 (2024) | Additional cash fee for board chair |
| Audit Committee chair fee | $5,000 (2024) | Additional cash fee for audit chair |
| Technical Committee chair fee | $3,500 (2024) | Additional cash fee for technical chair |
| Compensation Committee chair fee | $2,500 (2024) | Additional cash fee for compensation chair (chair retiring in 2025) |
| 2024 Director compensation totals (illustrative) | Gilliam: $41,000; Lu: $36,000; Shunk: $43,500; Ungar: $38,500; Wickersham: $39,500 | Reflects retainer plus chair fees as applicable |
Performance Compensation
| Performance-linked pay element | Status | Notes |
|---|---|---|
| Stock awards (RSUs/PSUs) | None granted to directors in 2024 | Director comp was entirely cash; table shows $0 stock awards for directors |
| Option awards | None granted to directors in 2024 | Director table shows $0 option awards; SCI’s 2011 plan has 5,945 options outstanding as of 4/28/2025, but not newly granted and not director-specific |
| Performance metrics tied to director pay | Not disclosed | No director-level performance metrics disclosed; executive incentive metrics are based on adjusted net income and operational goals, not applicable to directors |
Other Directorships & Interlocks
| Company | Public/Private | Role | Interlocks/Conflicts |
|---|---|---|---|
| Crailar Technologies | Public in Canada (historical) | Director | No SCI interlock disclosed; affiliation arose via Koch Genesis JV |
| Nitride Solutions, Inc. | Private | CEO, Director | Prior Chapter 11 bankruptcy in 2021 (see Risk Indicators) |
- SCI-related party disclosures: CEO Jeremiah Young’s father-in-law is director John Gilliam; Laura Shunk’s law firm represents SCI in IP matters; no related-party transactions disclosed involving Jeremy Jones .
Expertise & Qualifications
- Materials and semiconductor expertise: Leadership in CMP at Cabot/Cabot Microelectronics and aluminum nitride thermal/electronics markets at Nitride Solutions; founder of Alithia Power in power semiconductors .
- Corporate development and investment: VP at Koch Genesis with diligence/investments in biofuels/biochemicals; JV initiation leading to board role at Crailar .
- Education: MS (Materials Engineering, WPI), MBA (Babson), executive programs at Williams and MIT Sloan .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class |
|---|---|---|
| Jeremy Jones | 0 | 0.0% |
- Ownership alignment: No share ownership as of April 28, 2025; no pledging disclosed in proxy; equity compensation for directors not used in 2024 .
Governance Assessment
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Strengths
- Deep domain expertise in advanced materials and semiconductor-related businesses; relevant to SCI’s technical and market development needs .
- Board adheres to robust committee structure and governance practices; high attendance in 2024; established risk oversight including cybersecurity, financial, legal/compliance, and operational risks .
- Transparent director pay structure with modest cash retainer and small chair fees; no equity grants to directors in 2024, reducing potential dilution and aligning with cash-based oversight roles .
-
Potential RED FLAGS / Risks
- Prior bankruptcy involvement: Nitride Solutions entered Chapter 11 in June 2021 (settled Dec 1, 2021 via asset sale); while the narrative attributes the filing to pandemic-related revenue disruption and lack of capital, prior bankruptcy experience can be a governance risk indicator for investors assessing track record .
- Independence designation for Jones is not explicitly stated in the proxy (he is a non-employee nominee); investors may wish to confirm the board’s formal independence determination post-election .
- Related-party dynamics exist on the SCI board (CEO’s father-in-law is a director; board chair’s law firm provides IP services), though no related-party exposure is disclosed for Jones; still a contextual board-level consideration for overall governance effectiveness and potential conflicts .
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Signals to monitor post-election
- Committee assignments: With Compensation Committee chair Dr. Ungar not seeking reelection, observe whether Jones is placed on compensation or technical committees and any impact on pay policies or R&D/market development oversight .
- Ownership alignment: Track whether Jones establishes an equity position over time; as of the record date, he holds zero shares .
- Attendance and engagement: SCI expects nominees to attend the 2025 Annual Meeting; monitor Jones’s meeting attendance and participation once seated .