Lavanson Coffey III
About Lavanson Coffey III
Independent director of Sidus Space (SIDU), age 60 as of April 28, 2025, appointed to the Board in August 2024. He is designated independent under Nasdaq rules and serves as Chair of the Nominating and Governance Committee and member of the Compensation Committee; not on the Audit Committee . His background spans nearly four decades in aerospace: leadership roles at Ball Aerospace and Airbus U.S. Space & Defense; extensive U.S. Air Force command and program management experience; BS (Engineering, USAF Academy), MS (Engineering Management, CSU), plus two MA degrees (Air University) . Initial Form 3 was filed September 4, 2024, consistent with his August 2024 appointment .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ball Aerospace | Led launch mission for Intelligence Community’s first commercially procured launch vehicle | Not disclosed | Paved way for broader commercial launch providers; enabled affordable space lift for U.S. government |
| Airbus U.S. Space & Defense | Vice President & Business Enabler; Executive Director (Space line) | Not disclosed | Executive leadership in space business operations |
| U.S. Air Force | Rocket Propulsion Engineering; Project Management; Assistant Professor of Astronautical Engineering; Aide-de-Camp (USAF Academy Superintendent) | Not disclosed | Built Atlas V launch capability; rehabilitated Delta IV-heavy pad at Vandenberg; senior program and command roles |
| U.S. Senate (SecAF Legislative Liaison) | Legislative Liaison | Not disclosed | Congressional engagement for USAF programs |
| USAF Command | Commander, First Space Launch Squadron (Cape Canaveral); 2nd Cadet Group (USAF Academy); 30th Launch Group (Vandenberg) | Not disclosed | Operational command of key launch units |
External Roles
| Organization | Role | Status |
|---|---|---|
| Public company directorships | None disclosed | Not disclosed in proxy |
| Private/Non-profit boards | None disclosed | Not disclosed in proxy |
Board Governance
- Independence: Board determined Coffey (and four other directors) are independent under SEC/Nasdaq rules .
- Committee assignments: Compensation Committee member (Chair: Jeffrey Shuman); Nominating & Governance Committee Chair; not on Audit Committee (Audit Chair: Dana Kilborne; Kilborne designated financial expert) .
- Lead Independent Director: Jeffrey Shuman (since February 2025) .
- Attendance: Board met 6 times in FY2024; all directors attended every Board meeting. Audit met 7 times; Compensation met 0 times; Nominating & Governance met 2 times .
Fixed Compensation
| Year | Cash Retainer ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|
| 2024 | 17,222 | - | 17,222 |
Notes:
- Coffey joined the Board in August 2024 (partial-year cash fees) .
- No director equity or per-meeting fees disclosed for Coffey in 2024 beyond cash .
Performance Compensation
Notes:
- RSU grants/settlements occurred in 2025; no director performance metric targets tied to these awards are disclosed in the proxy .
Other Directorships & Interlocks
- No current public company board seats or disclosed interlocks with SIDU competitors/customers/suppliers for Coffey .
Expertise & Qualifications
- Aerospace launch operations and program leadership; led landmark commercial launch integration for the Intelligence Community .
- Executive leadership in aerospace/defense (Airbus U.S. Space & Defense) .
- Academic and command experience in astronautical engineering and USAF launch units .
- Education: BS (Engineering, USAF Academy), MS (Engineering Management, California State University), two MA degrees (Air University) .
Equity Ownership
| As of Date | Security | Shares/Units | Source |
|---|---|---|---|
| 2025-10-01 | Class A Common | 3,676 | https://www.sec.gov/Archives/edgar/data/1879726/000149315225016721/0001493152-25-016721-index.htm |
| 2025-10-01 | RSUs (unsettled) | 2,206 | https://www.sec.gov/Archives/edgar/data/1879726/000149315225016721/0001493152-25-016721-index.htm |
| 2025-04-28 (Record Date) | Beneficial Ownership (proxy table) | 0 (listed as “-”) |
Computed ownership context: 3,676 common shares vs 18,204,483 Class A shares outstanding as of April 28, 2025 (~0.02%); inputs: holdings from Form 4 and shares outstanding from proxy .
No pledging or hedging by Coffey disclosed; no related-party holdings or loans involving Coffey disclosed .
Governance Assessment
- Strengths: Independent status; chairs Nominating & Governance (conflict oversight, succession planning); deep launch/systems experience valuable for SIDU’s space operations; full Board attendance in FY2024 .
- Alignment: Equity participation via RSUs and share settlements in 2025 increases alignment beyond modest 2024 cash retainer .
- Watch items: Compensation Committee met 0 times in FY2024 (could signal limited cadence on pay oversight in a year with executive comp changes and plan amendments); ensure committee engagement rises as equity programs scale . Company-level related-party transactions (CEO-owned CTC sublease, advances, subcontract revenue) require continued rigorous independent oversight; no Coffey involvement disclosed .
- Leadership structure: Lead Independent Director established Feb 2025, improving independence in Board leadership; Coffey’s N&G chair role complements this structure .
Director Attendance and Engagement
| FY | Board Meetings Held | Audit | Compensation | Nominating & Governance | Attendance Notes |
|---|---|---|---|---|---|
| 2024 | 6 | 7 | 0 | 2 | All directors attended every Board meeting |
Committee Assignments
| Committee | Membership | Chair | Financial Expert |
|---|---|---|---|
| Audit | Kilborne, Oliver, Riera, Shuman | Kilborne | Kilborne |
| Compensation | Shuman, Oliver, Riera, Coffey | Shuman | — |
| Nominating & Governance | Kilborne, Oliver, Riera, Coffey | Coffey | — |
Director Compensation Summary (2024)
| Director | Cash Fees ($) | All Other ($) | Total ($) |
|---|---|---|---|
| Lavanson Coffey III | 17,222 | - | 17,222 |
Insider Trades Summary (Coffey)
Related Party Transactions (Context)
- No transactions involving Coffey disclosed. Company-level related party dealings include sublease, advances, subcontract revenue, and services with CEO-owned Craig Technical Consulting, reviewed under related person policy .
Notes on Director Election and Board Structure
- 2025 proxy nominated six directors including Coffey; Board leadership includes combined CEO/Chair (Carol Craig) with a Lead Independent Director role established (Shuman) .
Governance Signals and RED FLAGS
- RED FLAG: Compensation Committee met 0 times in FY2024; ensure stronger cadence given executive compensation actions and equity plan amendments .
- Positive signals: Independent status; N&G chair responsibility for conflicts/succession; full Board attendance; formal Code of Conduct and committee charters publicly available .