William Linnane
SPAR GroupAbout William Linnane
William Linnane (age 50) is SGRP’s Global Strategy & Growth Officer, appointed in July 2021, with an MA in Economics from Trinity College Dublin and prior leadership roles spanning merchandising, retail operations, and finance across the US, Europe, and Australia . During his tenure, SGRP reported Total Shareholder Return index values of 87.83 (2023) and 157.72 (2024) and Net Income of $4.776 million (2023) and $2.687 million (2024) . His remit centers on global strategy and growth execution, leveraging prior C-suite experience and category leadership at Kmart, Tesco, and a European book retailer .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kmart (US & Puerto Rico) | President, Pharmacy, Drugstore & Grocery | Not disclosed | Led multi-category merchandising and operations for multi-billion-dollar businesses |
| European book retailer | Chief Merchant | Not disclosed | Drove merchandising strategy and growth initiatives |
| Tesco (UK) | Category Lead, Beverage/Candy/Snacks | Not disclosed | Partnered with global CPGs to drive branded growth and digital strategies |
| Advisory & investment firm | CEO | Not disclosed | Led M&A and retail restructurings |
| Kingfisher plc; Tesco plc | Finance roles (UK & Ireland) | Not disclosed | Early-career finance training; qualified accountant |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No external directorships disclosed in the proxy |
Fixed Compensation
| Metric (USD) | 2023 | 2024 |
|---|---|---|
| Base Salary | $332,708 | $340,000 |
| Cash Bonus Paid (earned prior year; includes PSU payments) | $130,796 | $310,430 |
| Option and RSU Compensation (taxable recognized) | $0 | $0 |
| All Other Compensation (allowances) | $4,800 | $4,800 |
| Total Reported Compensation | $468,304 | $655,230 |
Notes:
- Bonuses shown are cash paid in the year for prior-year performance; cash bonuses include Phantom Stock Unit (PSU) payouts when applicable .
Performance Compensation
| Award | Grant Date | Metric | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| PSUs (111,111 units) | Mar 24, 2022 | 2022 financial target | 90% of agreed target required | Target not met; first tranche did not vest | Board approved second and third tranches to vest time-based on 2nd and 3rd anniversaries of grant (Mar 24, 2024 and Mar 24, 2025) |
| PSUs (181,818 units) | Apr 3, 2023 | 2023 Global EBIT | ≥70% of budgeted 2023 Global EBIT | Achieved; first tranche vested as determined Mar 31, 2024 | Remaining tranches vest time-based on 2nd and 3rd anniversaries of grant (Apr 3, 2025 and Apr 3, 2026) |
Design features and governance:
- RSUs and PSUs vest primarily over one to three years, with performance gates where specified .
- All outstanding Awards vest fully upon Extraordinary Events (including sale/merger) with settlement at fair value, subject to plan terms .
- The 2025 Stock Compensation Plan eliminates Board discretion to reprice awards favorably, resets share pool to 2,000,000, and standardizes vesting/terms through May 31, 2028 .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficially owned common shares | 17,909 shares |
| Shares outstanding | 23,446,444 shares |
| Ownership % of common shares | ~0.076% (17,909 ÷ 23,446,444) |
| Stock options (exercisable / unexercisable) | 0 / 0 for Linnane |
| PSUs outstanding and scheduled to vest | 2022 grant: 2 tranches remain time-based; 2023 grant: 2 tranches remain time-based |
| Voting/dividend rights on PSUs | None; PSUs are cash-settled liabilities; no share issuance |
| Pledging of awards | Awards are non-transferable; pledge only with Compensation Committee’s express consent and subject to conditions |
| Stock ownership guidelines | Not disclosed in proxy |
Employment Terms
| Term | Detail |
|---|---|
| Role and start date | Global Strategy & Growth Officer, joined July 2021 |
| Employment status | At-will employee |
| Change-of-Control Severance Agreement (COCSA) | Lump sum if CIC plus termination without cause or for Good Reason within Protected Period; Good Reason includes certain duty/comp changes, loss of independence post-CIC, or CEO departure (for non-CEO execs) |
| Severance multiple | 1.0x annual salary plus max bonus of prior two years (Belzer 1.5x; CEO 2.0x – Linnane falls into “others” at 1.0x) |
| Protected Period/Term | Protected Period equals the Term or 24 months post-most-recent CIC; Term is 36 months, auto-extends daily absent non-renewal notice |
| Clawback | Recovery of compensation linked to Awards if a restatement is due to material noncompliance from Awardee misconduct, to the extent required by law/policy |
| Extraordinary Event vesting | All outstanding options/RSUs/PSUs vest at closing of the Highwire merger; holders receive comparable consideration net of exercise prices |
Investment Implications
- Pay-for-performance alignment: Linnane’s variable pay is tied to EBIT-based PSU gates (≥70% threshold in 2023) and time-based vesting thereafter, indicating a mix of performance- and retention-oriented incentives; PSUs are cash-settled, limiting dilution and open-market selling pressure .
- Change-in-control monetization: The pending Highwire transaction accelerates vesting and provides cash settlement for PSUs, reducing near-term insider selling risk but monetizing awards; COCSA terms offer 1x salary plus max recent bonus if terminated post-CIC, shaping retention/leverage in negotiations .
- Ownership signal: Direct equity ownership remains small relative to outstanding shares (~0.076%), with no options disclosed for Linnane, and PSUs providing cash alignment rather than equity voting or long-term share accumulation .
- Governance controls: The 2025 equity plan curtails repricing, defines vesting norms, and restricts pledging absent committee consent, while a clawback provision is in place for misconduct-related restatements—mitigating compensation-related governance risks .