Felix Marx
SOCKET MOBILEAbout Felix Marx
Felix Marx (age 58) is an independent director nominee to Socket Mobile’s Board for election at the June 4, 2025 annual meeting; the Board has determined he is independent under Nasdaq rules. He brings 20+ years of global leadership in identity management, financial services, and telecommunications, including EVP/CEO roles at Trūata, executive roles at Mastercard (EVP Services, Asia Pacific), and CEO roles at Pinpoint, C‑Sam, and Identive Group; earlier roles were at NXP, Philips Semiconductors, Global One, and Ericsson. His education includes electrical engineering (Technical Academy in Vienna), a postgraduate degree in Business Administration (University of Commerce, Vienna), and a Master of Advanced Studies in Knowledge Management (Danube University, Austria) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| C‑Sam, Inc. | CEO & President | Not disclosed | Led mobile payments and identity solutions; executive leadership credentials |
| Identive Group | CEO & President | Not disclosed | Led identity management company; executive leadership credentials |
| Pinpoint (Mastercard-acquired) | CEO | Not disclosed | Commerce/loyalty services; integration within Mastercard Services |
| NXP Semiconductors | General management | Not disclosed | Identity/NFC ecosystem experience |
| Philips Semiconductors | General management | Not disclosed | Semiconductors operations background |
| Global One Telecommunications | General management | Not disclosed | Telecom operations background |
| Ericsson | General management | Not disclosed | Telecom operations background |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Trūata | EVP & CEO; Director | Not disclosed | Advanced consumer data rights under GDPR; privacy-enhancing analytics |
| Mastercard | EVP, Services, Asia Pacific | Not disclosed | Led go‑to‑market and regional growth across service products |
| NFC Forum | Founding role | Not disclosed | Industry standards/org leadership for NFC |
| Multiple technology companies | Board member | Not disclosed | Technology governance experience (organizations not enumerated) |
Board Governance
- Independence: All nominees except CEO Kevin Mills and CFO Lynn Zhao satisfy Nasdaq independence; Marx is identified by the Board as an independent nominee .
- Committee assignments: Audit, Nominating, and Compensation committees exist; assignments for the new Board (post‑election) will be reviewed at the first Board meeting, so Marx’s committee roles are not yet set .
- Current committee structure (2024): Audit—Bass (Chair), Parnell, Lazarev; Nominating—Bass (Chair, committee-of-the-whole among independent directors); Compensation—Parnell (Chair), Lazarev, Hartmann (not seeking re‑election) .
- Board activity and engagement: The Board held five meetings in 2024; independent directors met in executive session at all Board meetings; each director attended at least 75% of Board/committee meetings (Marx not yet on Board in 2024) .
- Lead oversight: Separate independent Chair (Charlie Bass) provides oversight distinct from CEO role .
Fixed Compensation
| Component | Detail | Timing | Notes |
|---|---|---|---|
| Board meeting fee (cash) | $8,000 per regular Board meeting for non‑employee directors | Per meeting | Standard quarterly cadence |
| Committee chair premium (cash) | +$2,000 per regular meeting for committee chairs | Per meeting | Recognizes added responsibilities |
| Equity eligibility | Participation in 2004 Equity Incentive Plan | Annual grants upon Board election | Equity grants for Board/committee service and leadership positions |
| Director grant approach (2024 reference) | Restricted stock awards; immediate vest on grant date | Annually, at start of Board term | Outside directors collectively received 39,250 RSAs in 2024; structure guides future policy |
As Marx is a 2025 nominee, specific 2025 cash/equity amounts he will receive are not disclosed prior to election .
Performance Compensation
| Equity Element | 2024 Director Award Mechanics | Share Counts (2024) | Vesting |
|---|---|---|---|
| Restricted stock (RSAs) | Annual RSAs for Board service, committee service, leadership | Bass 15,000; Parnell 10,000; Lazarev 9,000; Hartmann 5,250 | Immediate vest at grant in 2024 director program |
| Option exchange (underwater options) | Shareholder‑approved option exchange with lower exercise price; same share count; new 10‑year term | Bass 93,000; Parnell 46,000; Lazarev 14,000 (exchanged in 2024) | Replacement options fair value lower; no incremental ASC 718 expense |
Directors’ equity awards are time‑based; no director performance metrics (TSR/EBITDA/ESG) are disclosed for director compensation .
Other Directorships & Interlocks
- Compensation Committee interlocks: None; no insider participation among committee members; no reciprocal board/comp committee interlocks disclosed .
- Public company directorships: Not specifically disclosed for Marx (Trūata board noted; other boards referenced without listing or public-company designation) .
Expertise & Qualifications
- Domain expertise: Identity management, financial services, telecom; regional services scaling and privacy analytics; NFC ecosystem development .
- Education: Electrical engineering (Technical Academy, Vienna); postgraduate Business Administration (University of Commerce, Vienna); Master of Advanced Studies in Knowledge Management (Danube University, Austria) .
- Board readiness: Board confirms independence and complements existing skills; Nominating Committee criteria emphasize ethics, judgment, complementary skills, and capacity to contribute—applied in 2025 slate including Marx .
Equity Ownership
| Item | Status | Source |
|---|---|---|
| Beneficial ownership (shares) | Not listed among beneficial owners as of April 4, 2025 record date | Marx not included in the ownership table; directors listed exclude him since he was a nominee, not a sitting director as of record date |
| Ownership % | Not disclosed | |
| Options/RSAs held | Not disclosed |
Governance Assessment
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Strengths
- Independence: Marx is designated independent; Board majority independent; independent Chair and regular executive sessions support oversight .
- Relevant sector experience: Extensive identity, payments, telecom leadership and data privacy expertise aligns with SCKT’s NFC/mobile data capture ecosystem .
- Committee rigor: Clear charters; Audit includes a designated “financial expert”; Compensation and Nominating are all‑independent .
-
Risks and red flags
- Option repricing for directors in 2024: Shareholder‑approved exchange lowered exercise prices to restore retention value; while no incremental accounting cost, repricing of underwater options is a governance red flag for alignment and pay outcomes .
- Related‑party financing with Board members: Convertible notes purchased by Chair Bass ($1.0m in 2023; $0.525m in 2024) and director Parnell ($0.1m in 2023; $0.1m in 2024); CEO Mills ($0.5m in 2023) — 10% interest, conversion features ($1.34 in 2023, $0.9515 in 2024) secured/subordinated to senior debt; creates potential conflicts in capital structure decisions and dilution .
- Immediate vest RSAs for directors (2024): Reduces retention effect and could weaken long‑term alignment versus multi‑year vesting .
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What’s TBD for Marx (post‑election)
- Committee assignments and chair roles will be determined at the first Board meeting after election .
- Compensation specifics (cash/equity grants for 2025) will be set following Board election within the disclosed policy framework .
Attendance for Marx is not applicable for 2024; going forward, the Board expects at least 75%+ attendance and encourages full participation; independent directors hold executive sessions each meeting .