Gary Goplen
About Gary Goplen
Gary Goplen (age 61) is a long-tenured agriculture operator and former board secretary of South Dakota Soybean Processors, LLC (SDSYA), with prior service on the Board of Managers from 2015–2024 and re-election in June 2025. He has 44 years of farming experience, previously worked 19 years in maintenance at Associated Milk Producers (Dawson, MN), and holds a degree in Farm Diesel Mechanics from Canby Vo-Tech (1983). He served as the Company’s secretary from 2017 to 2024 and sits on the boards of SDSYA subsidiaries High Plains Processing, LLC and High Plains Partners, LLC .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| South Dakota Soybean Processors, LLC | Board Secretary | 2017–2024 | Secretary receives $800 per meeting; governance and audit committee work during tenure . |
| South Dakota Soybean Processors, LLC | Board of Managers (Director) | 2015–2024; re-elected 2025 | Finance/Audit Committee member; Governance Committee member (which serves compensation functions) . |
| Associated Milk Producers (Dawson, MN) | Maintenance Worker | 19 years | Industrial/facility operations experience . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| High Plains Processing, LLC (SDSYA subsidiary) | Board Member | Not disclosed | Subsidiary governance; potential operational interlock within corporate family . |
| High Plains Partners, LLC (SDSYA subsidiary) | Board Member | Not disclosed | Subsidiary governance; corporate interlock; note Craig Weber is vice-president of subsidiaries . |
| Midwest Cattlemen's Association | Former President & Membership Chair | Not disclosed | Industry network leadership . |
| OWA 4H (Canby, MN) | Group Leader; Livestock Committee | Not disclosed | Youth and agricultural engagement . |
| Dawson Covenant Church | Treasurer; Sunday School Superintendent | Not disclosed | Community leadership . |
Board Governance
- Independence: In 2023, the Finance/Audit Committee deemed most members independent under NASDAQ Rule 5605(a) and (c); non-independent members were named as Hope, Renaas, and Weber—implying Goplen was considered independent on that committee .
- Committees: Finance/Audit Committee member; Governance Committee member (functions as compensation committee). Audit committee lacked a designated “financial expert,” consistent with producer-based boards .
- Attendance: Board held 12 regular and 3 special meetings in 2023; each board member and each committee member attended at least 75% of their meetings; all board members except Mr. Converse attended the 2023 Annual Meeting .
- 2025 Nomination/Election: Listed as District 2 nominee; ballot allowed vote for Goplen among three candidates; re-elected June 20, 2025 per external source .
Fixed Compensation
Policy (applies to directors):
- Per meeting fees: President $1,000; Secretary $800; Other managers $600; $100 for conference-call meetings; monthly stipend $300; travel reimbursed at IRS rates. No equity, options, non-equity incentives, or perquisites; no DC plans or consulting fees .
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash (Total) | $14,200 (director and secretary fees per policy) | $7,400 (partial year; term ended June 18, 2024) |
| Monthly stipend policy | $300/month policy (applies to all managers) | $300/month policy (applies to all managers) |
| Per-meeting fee category relevant to Goplen | Secretary: $800; Other manager: $600; Conf. call: $100 | Same policy |
Performance Compensation
- SDSYA provides no director equity awards, options, non-equity incentives, deferred comp, or other perquisites for board members; therefore, no performance-linked metrics apply to directors .
| Performance Metric | Target | Actual | Instrument | Notes |
|---|---|---|---|---|
| Not applicable (no director performance pay) | — | — | — | Company does not grant performance-based pay to directors . |
Other Directorships & Interlocks
| Company | Role | Public/Private | Interlock/Notes |
|---|---|---|---|
| High Plains Processing, LLC | Board Member | Private (subsidiary) | Corporate interlock; within SDSYA group . |
| High Plains Partners, LLC | Board Member | Private (subsidiary) | Corporate interlock; within SDSYA group . |
No public-company directorships disclosed for Goplen; 2025 proxy states no family or interlocking relationships among managers/nominees, officers, or key employees (outside noted grandparent-grandson relationship for other nominees) .
Expertise & Qualifications
- Agriculture operator with 44 years of farming and industrial maintenance background .
- Technical credential: Farm Diesel Mechanics (Canby Vo-Tech, 1983) .
- Governance experience as board secretary (2017–2024) and committee member (finance/audit; governance/comp) .
- Audit committee lacks a designated “financial expert,” aligning with producer-based governance structure .
Equity Ownership
| Ownership Item | Detail |
|---|---|
| Capital Units Beneficially Owned | 12,500 units; includes 5,000 units owned by spouse . |
| Voting Rights | 1 vote beneficially owned (membership-based voting) . |
| Ownership as % of Outstanding | ≈0.041% (12,500 ÷ 30,411,500 units outstanding as of May 1, 2025) . |
| Vested vs. Unvested | Not applicable; no director equity grant program . |
| Pledged/Hedged Shares | No pledging disclosed; Company maintains insider trading and hedging policy . |
Insider Trades
| Date | Form | Security | Transaction Details |
|---|---|---|---|
| 2022-07-05 | Form 4 | SDSYA capital units | Filing by Gary Goplen; specific transaction amounts not detailed in accessible summary . |
Governance Assessment
- Independence and conflicts: Goplen was treated as independent on the finance/audit committee (non-independent members explicitly named as others). No related-person transactions were disclosed for him in 2023–2024; soybean purchases from related directors involved other board members (Hope, Weber) and were conducted under disinterested-vote procedures .
- Attendance and engagement: Board and committees met frequently in 2023, with each member meeting at least a 75% attendance threshold; Goplen’s prior role as secretary and governance/audit committee service signal engagement with oversight processes .
- Compensation and alignment: Director pay is entirely cash-based with per-meeting fees and a small monthly stipend; no equity or performance-based incentives for directors. Beneficial ownership is modest (≈0.041% of outstanding units as of May 1, 2025), but he is a member with voting rights .
- Policies and oversight: Company maintains insider trading and hedging policy; audit committee operates without a designated “financial expert” but reviews auditor independence and financial statements; governance committee functions as compensation committee for executives .
Red Flags
- None specific to Goplen identified: no reported related-party transactions, pledging, or hedging disclosures tied to him; audit committee lacks a “financial expert” (structural governance consideration rather than an individual red flag) .
- Broader board conflicts exist for other members (soybean purchases from Hope and Weber), but not attributed to Goplen .