Nikul Patel
About Nikul Patel
Independent Director at Champion Homes, Inc. (SKY) since 2022; age 52. Patel is co‑founder, CEO, and Chairman of LoanGlide, an embedded financing platform (since Nov 2019), and previously served as Chief Strategy Officer, COO, and Chief Product Officer at LendingTree; earlier roles at Bills.com, Home‑Account, and Intel. He holds an MBA (Wharton), an MS in Computer Engineering (Florida Atlantic University), and a BE in Electronics & Communication (Gujarat University), plus NACD Directorship Certification and NACD/Carnegie Mellon Cyber‑Risk Oversight certification. The Board has determined Patel is independent under NYSE and SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LendingTree, Inc. | Chief Strategy Officer; previously COO and Chief Product Officer | ~6+ years prior to Nov 2019 | Senior leadership across strategy, operations, product for online consumer finance marketplace |
| Bills.com; Home‑Account, Inc. | Leadership roles | Not disclosed | Fintech/consumer finance operating experience |
| Intel Corporation | Leadership role | Not disclosed | Technology/engineering foundation |
| Movoto.com | Co‑founder | Not disclosed | Online real estate search entrepreneurship |
External Roles
| Organization | Role | Public/Private | Committees (if disclosed) |
|---|---|---|---|
| LoanGlide, Inc. | Co‑founder, CEO, Chairman | Private | Not disclosed |
| Vroom, Inc. | Director | Public | Not disclosed |
| Getaround, Inc. | Director | Public | Not disclosed |
Board Governance
- Committee assignments: Member, Compensation Committee (with Eddie Capel (Chair) and Erin Mulligan Helgren); Patel is not a committee chair .
- Board independence: Board determined Patel is independent under NYSE and SEC rules; all three standing committees are composed solely of independent directors .
- Attendance and engagement: Board met 6 times in FY2025; Compensation Committee met 5 times; each incumbent director attended >75% of Board and applicable committee meetings; four executive sessions were held .
- Leadership structure: Independent, non‑executive Chair (Eddie Capel); CEO and Chair roles separated .
- Compensation Committee scope: Oversees executive/director pay, incentive plan risk, and broader human capital/social matters .
- Prior shareholder influence removed: Investor Rights Agreement with MAK terminated Sept 5, 2024; MAK’s affiliated director (Kaufman) resigned, reducing potential conflicts; Patel remains as an independent director .
Fixed Compensation
- Director Compensation Program (unchanged from FY2024) :
- Annual cash retainer: $65,000
- Annual equity retainer: $100,000 in RSUs (vest at earlier of one year or next AGM; accelerated on death/disability or termination without cause; delivery at vesting or change in control) .
- Committee fees: Compensation Committee member fee $10,000; Compensation Committee chair fee $18,500 (Audit: $18,500 Chair/$10,000 member; Nominating & Governance: $15,000 Chair/$7,500 member) .
| Pay Element (FY2025) | Amount |
|---|---|
| Fees Earned (cash) | $75,000 (base $65,000 + $10,000 Compensation Committee member fee) |
| Stock Awards (RSUs, grant-date fair value) | $100,000 |
| Total | $175,000 |
Performance Compensation
- Director equity awards are time‑based RSUs (no performance metrics); vesting typically on the earlier of one year from grant/next AGM; RSUs accelerate on death/disability or Company termination without cause; delivery at vesting or change in control for director awards .
- No PSU/option‑based performance compensation is used for non‑employee directors .
| Performance Metric | Weight | Threshold/Target/Max | Outcome |
|---|---|---|---|
| Not applicable for non‑employee director RSUs | — | — | RSUs are time‑based (no performance conditions) |
Other Directorships & Interlocks
| Company | Industry Relation to SKY | Role/Notes |
|---|---|---|
| Vroom, Inc. | Unrelated (online auto retail) | Director |
| Getaround, Inc. | Unrelated (car sharing) | Director |
- No related‑person transactions disclosed involving Patel; the proxy’s related‑party discussion centers on prior investor agreements with MAK (terminated) and outlines the policy for reviewing any such transactions .
- No interlocks disclosed between Patel’s external boards and SKY’s customers/suppliers/competitors .
Expertise & Qualifications
- Product management and technology systems; online tools in home buying and financing; business development and transformational initiatives .
- NACD Directorship Certification and NACD/Carnegie Mellon Cyber‑Risk Oversight Certification (cyber governance expertise) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of June 2, 2025) | 4,420 shares (less than 1% of outstanding) |
| Ownership guidelines | Non‑employee directors: 3x annual cash retainer; to be achieved within 3 years |
| Compliance status | As of March 29, 2025, all non‑employee directors were in compliance except the newest director (Fedewa, joined March 2025) . |
| Hedging/pledging | Pledging generally prohibited; hedging permitted only within an approved window and with pre‑clearance under Insider Trading Policy . |
Governance Assessment
-
Strengths
- Independent director with fintech and digital product expertise relevant to consumer financing and home‑buying ecosystems; adds technology and cyber oversight capability to the Board .
- Active Compensation Committee member; Committee also oversees human capital/social risks, aligning with investor focus on HCM and incentive risk .
- Attendance above 75% and regular executive sessions indicate engagement and independent oversight; independent Chair structure enhances board effectiveness .
- Director equity in RSUs plus ownership guidelines promote alignment; directors (including Patel) largely in compliance .
- Strong shareholder support for Say‑on‑Pay in 2024 (≈94.5% approval), signaling investor confidence in compensation governance .
-
Watch items
- Company permits hedging with pre‑clearance (though pledging is prohibited); some investors prefer prohibitions on hedging for directors .
- Multiple external roles (LoanGlide CEO/Chair; Vroom; Getaround) create potential time‑commitment considerations; no conflicts disclosed, but monitor if SKY adopts embedded financing partnerships that could intersect with LoanGlide .
- Prior principal shareholder influence (MAK) is now removed; positive for independence going forward, but continue monitoring for any legacy related‑party exposure; none disclosed for Patel .
No legal proceedings, SEC investigations, or related‑party transactions involving Patel were disclosed in the proxy; the company states no material adverse proceedings involving directors and outlines robust related‑party review procedures .