Jeff Gehl
About Jeff Gehl
Jeff Gehl, 58, has served on SLE’s Board since 2015 and is designated as the Board’s “audit committee financial expert.” He is Managing Partner at RCP Advisors (since 2001), co-owner/manager of VLOC LLC, and a General Partner of BKM Capital Partners, L.P. He previously founded and led MMI (technical staffing) and acquired Big Ballot, Inc. He currently sits on the boards of P10 Industries, Inc. and Veritone, Inc. (NASDAQ: VERI). Gehl earned a B.S. in Business Administration from USC and received the university’s Entrepreneur of the Year award in 1989 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MMI (technical staffing) | Founder, Chairman & CEO | Not disclosed | Entrepreneurial leadership; broadened Board perspective in capital raising |
| Big Ballot, Inc. (sports marketing) | Acquirer | Not disclosed | Deal execution experience |
| Troy Capital Partners | Advisor | Until 2018 | Venture/strategic advisory |
| VLOC LLC | Manager / Co-owner | Not disclosed | Private investment management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| RCP Advisors | Managing Partner (leads client relations; covers PE managers in Western U.S.) | Since 2001 | Private equity fund-of-funds leadership |
| BKM Capital Partners, L.P. | General Partner | Not disclosed | Real estate/PE investing |
| P10 Industries, Inc. | Director | Current | Public company directorship |
| Veritone, Inc. (NASDAQ: VERI) | Director | Current | Public company directorship |
| Accel-KKR; Seidler Equity Partners; RCP underlying funds | Advisory Board member | Not disclosed | PE advisory roles |
Board Governance
- Independence: The Board determined Messrs. Gehl, Jung, Breen, and Ms. Patrick are independent under Nasdaq Listing Rule 5605; Gehl is also the designated “audit committee financial expert” .
- Board class/tenure: Class II director since 2015; nominated for re‑election with a term expiring at the 2028 annual meeting .
- Committee assignments:
- Audit Committee: Chair (members: Gehl, Jung); met 4 times in 2024 and 4 in 2023 .
- Nominating & Governance Committee: Member (Patrick, Gehl, Breen); met 4 times in 2024 and 4 in 2023 .
- Strategic Committee: Member (Chair: Jung; members: Gehl, Breen); met 7 times in 2024 and 3 in 2023 .
- Related-party oversight: Audit Committee administers policies and procedures for review/approval of related party transactions .
| Committee | Role | 2023 Meetings | 2024 Meetings |
|---|---|---|---|
| Audit | Chair | 4 | 4 |
| Nominating & Governance | Member | 4 | 4 |
| Strategic | Member | 3 | 7 |
Note: Board/committee attendance rates not disclosed in the proxy .
Fixed Compensation
- Director fee schedule (non‑employee directors): Annual retainer $25,000; Audit Chair $15,000; Strategic Committee Member $10,000; other chair/member fees per schedule. RSUs of $60,000 grant value at the annual meeting, vesting after one year .
- 2024 compensation (no RSU grants in FY2024 as no annual meeting was held; RSUs for that cycle were granted after the June 9, 2025 meeting): Gehl received $50,000 cash (retainer + Audit Chair + Strategic Committee member) and $0 stock awards .
| Element | Amount | Notes |
|---|---|---|
| Annual Retainer (cash) | $25,000 | Paid quarterly |
| Audit Committee Chair (cash) | $15,000 | Paid quarterly |
| Strategic Committee Member (cash) | $10,000 | Paid quarterly |
| RSU Annual Grant (equity) | $60,000 grant-date value | Vests fully at 1 year |
| 2024 Fees Earned (cash) | $50,000 | Retainer + Audit Chair + Strategic Member |
| 2024 Stock Awards | $0 | No annual meeting in FY2024 |
| 2024 Total | $50,000 | — |
Performance Compensation
- Director equity structure: RSUs granted at the annual meeting; time-based vesting (one-year anniversary). No performance-based metrics are applied to director equity grants .
- 2024 cycle: RSU grants occurred after the June 9, 2025 annual meeting for the 2024 director cohort (amounts not detailed per-director in the proxy) .
| Performance Metric | Applies to Director Compensation? | Source/Notes |
|---|---|---|
| Revenue growth | No | Directors receive time-based RSUs; no performance targets disclosed |
| EBITDA/Operating loss | No | Not linked to director pay; RSUs vest by time |
| TSR percentile | No | Not used for director equity |
| ESG goals | No | Not disclosed for director pay |
| One-year time vest | Yes | RSUs fully vest on 1-year anniversary |
Other Directorships & Interlocks
| Company | Role | Committees (if disclosed) | Potential Interlocks/Conflicts |
|---|---|---|---|
| Veritone, Inc. (NASDAQ: VERI) | Director | Not disclosed | None disclosed |
| P10 Industries, Inc. | Director | Not disclosed | None disclosed |
Expertise & Qualifications
- Audit committee financial expert; financial sophistication under SEC/Nasdaq rules .
- Extensive experience financing/developing/managing high‑growth technology companies; entrepreneurial background .
- USC B.S. in Business Administration; USC Entrepreneur of the Year (1989) .
Equity Ownership
- Beneficial ownership: 4,589 shares of Common Stock (<1.0% of voting Common Stock outstanding), including 96 shares via BigBoy Investment Partnership, LLC and 31 shares via BigBoy, LLC (entities managed by Gehl) .
- Equity awards: As of December 31, 2024, aggregate unvested restricted stock awards outstanding: 676; aggregate options outstanding: 625 .
| Category | Detail | Amount |
|---|---|---|
| Direct/Common shares | Personal holdings | 4,589 |
| Indirect/Common shares | BigBoy Investment Partnership LLC; BigBoy, LLC | 96; 31 |
| Total beneficial ownership | Shares | 4,589 |
| Ownership % | % of voting Common outstanding | <1.0% |
| Unvested RSUs | Aggregate awards outstanding (12/31/2024) | 676 |
| Options outstanding | Aggregate awards outstanding (12/31/2024) | 625 |
Pledging/hedging; exercisable vs unexercisable breakdown; option strike/expiration; ownership guideline requirements: not disclosed in the proxy .
Governance Assessment
- Independence and expertise: Gehl is an independent director under Nasdaq rules and serves as Audit Committee Chair and financial expert—positive for financial oversight quality .
- Engagement: Committees under his remit met regularly (Audit 4x in 2024; Strategic 7x)—signals active committee workload; attendance rates not disclosed .
- Compensation alignment: 2024 pay was fully cash ($50,000) due to no annual meeting; RSUs are time‑based with one‑year vest—limited pay‑for‑performance features for directors, which is standard but offers modest alignment relative to performance metrics .
- Ownership: Small beneficial stake (<1%) and modest outstanding awards; alignment exists but is not substantial in percentage terms .
- Potential conflicts / RED FLAGS:
- Family relationship: Executive Chair Ann Hand is Gehl’s first cousin—disclosed and Board still deems independence. While permissible under Nasdaq, this familial tie can raise perceived conflict risks; mitigation depends on adherence to independence standards and related‑party review processes overseen by the Audit Committee .
- Related-party transactions: Oversight resides with Audit Committee; no specific Gehl‑related transactions disclosed in the proxy .
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