Brad Lich
Director at SLGN
Board
About Brad A. Lich
Brad A. Lich (age 57) has served on Silgan Holdings’ Board since October 2019 and is currently a Class I Director standing for a term expiring in 2028; he is deemed an independent director under NYSE listing standards . He is Executive Vice President and Chief Commercial Officer at Eastman Chemical Company, leading Advanced Materials and the circular platform, and overseeing marketing, sales, procurement, corporate strategy, and regional leadership; prior roles include EVP Advanced Materials & Additives & Functional Products and earlier commercial leadership positions at Coatingsmart, E‑Chemicals, The Valspar Corporation, and The Dow Chemical Company .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eastman Chemical Company | Executive Vice President & Chief Commercial Officer | Since March 2016 | Responsible for Advanced Materials and circular platform; leads marketing, sales, procurement, corporate strategy, regional leadership |
| Eastman Chemical Company | EVP, Advanced Materials & Additives & Functional Products | Jan 2014–Mar 2016 | Senior leadership across multiple business segments |
| Eastman Chemical Company | Various leadership roles | 2001–2013 | Progressively expanded commercial responsibilities |
| Coatingsmart, Inc.; E‑Chemicals, Inc.; The Valspar Corporation; The Dow Chemical Company | Leadership/commercial roles | Pre‑2001 | Commercial leadership roles (dates not individually disclosed) |
External Roles
| Organization | Role | Listed? | Notes |
|---|---|---|---|
| Eastman Chemical Company | EVP & Chief Commercial Officer | NYSE | Global advanced materials and specialty additives; leadership scope includes segments and corporate functions |
Board Governance
- Committees (2024–2025): Audit (member), Compensation (member), Nominating (member); not a chair on any committee .
- Independence and sessions: Classified as independent; independent directors met four times in 2024 following quarterly board meetings without management; non‑management directors hold regular executive sessions with no presiding director appointed .
- Attendance: Board met five times in 2024; each Director attended at least 75% of Board and committee meetings on which they served (aggregate basis) .
- Board structure: Chairperson (non‑executive) separate from CEO; risk oversight allocated among Board and committees (Audit—financial reporting risks; Compensation—compensation risk; Nominating—board nominations and governance) .
Fixed Compensation
| Year | Cash Board Retainer ($) | Committee Membership Fees ($) | Chair Fees ($) | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| 2024 | 110,000 | 24,000 (Audit $12,000; Compensation $12,000; Nominating has no member fee) | 0 | 134,000 | 124,955 (2,712 RSUs; grant 5/29/2024) | 12,397 (dividend equivalents: $2,006 unvested RSUs; $10,391 vested/deferred RSUs) | 271,352 |
| 2023 | 110,000 | 24,000 (Audit $12,000; Compensation $12,000) | 0 | 134,000 | 124,965 (2,748 RSUs; grant 5/31/2023) | 9,720 (dividend equivalents) | 268,685 |
Notes:
- Membership fees are paid for Audit and Compensation committees ($12,000 each); Nominating has chair fees only ($25,000) but no general member fees, which explains Mr. Lich’s cash fees totaling $134,000 despite serving on three committees .
Performance Compensation
Director equity is time‑based, not performance‑based; annual equity awards are made as restricted shares or RSUs with fair value of $125,000 at grant and vest in a single installment at the following annual meeting.
| Grant Date | Instrument | Quantity | Grant‑Date Fair Value ($) | Vesting | Source |
|---|---|---|---|---|---|
| 2025‑05‑28 | RSUs (Director award) | 2,262 | N/A (Form 4 award; zero price) | Annual director RSUs; standard next‑meeting vest | |
| 2024‑05‑29 | RSUs (Director award) | 2,712 | 124,955 | Vest in single installment at following annual meeting | |
| 2023‑05‑31 | RSUs (Director award) | 2,748 | 124,965 | Vest in single installment at following annual meeting |
Program features:
- Annual equity grant sized at $125,000 fair value; form of restricted shares or RSUs; vesting in a single installment at next annual meeting .
Other Directorships & Interlocks
- Public company directorships: None disclosed for Mr. Lich; his biography lists executive roles at Eastman Chemical but no other public company boards .
- Compensation Committee interlocks: Company discloses no compensation committee interlocks or insider participation for 2024 and 2023 .
Expertise & Qualifications
- Extensive executive management and commercial leadership experience in advanced materials, additives, and functional products from senior roles at Eastman Chemical; prior commercial leadership across chemicals and coatings companies .
- Brings executive operating experience, commercial strategy oversight, and procurement/market leadership exposure relevant to packaging supply chains .
Equity Ownership
| As‑of Date | Beneficial Ownership (Shares) | % of Outstanding | Vested/Deferred RSUs | Unvested/To Vest Within 60 Days | Post‑Transaction Ownership (Form 4) |
|---|---|---|---|---|---|
| 2025‑04‑04 (Record Date) | 17,071 | <1% | 14,359 | 2,712 | — |
| 2024‑04‑03 (Record Date) | 14,359 | <1% | 11,611 | 2,748 | — |
| 2025‑05‑28 (Form 4) | — | — | — | — | 19,333 (after receipt of 2,262 RSUs; director award) |
Policies:
- Anti‑hedging/anti‑pledging policy prohibits directors from hedging or pledging company stock .
- Director stock ownership guideline: minimum 5× the $110,000 annual cash retainer ($550,000 equivalent), with a five‑year transition period for newly elected directors (compliance status by director not individually disclosed) .
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Quantity | Price | Post‑Transaction Ownership | SEC Filing |
|---|---|---|---|---|---|---|
| 2025‑05‑30 | 2025‑05‑28 | Award (A) | 2,262 | 0.00 | 19,333 | |
| 2024‑05‑31 | 2024‑05‑29 | Award (A) | 2,712 | 0.00 | 17,071 |
Governance Assessment
- Strengths: Independent director; member of all key committees (Audit, Compensation, Nominating); Board and committee structure includes regular independent sessions and robust risk oversight; strong shareholder support for executive pay (≈98% Say‑on‑Pay approval in 2024), signaling investor confidence in compensation governance .
- Alignment: Director pay mix emphasizes standard cash retainers and time‑based equity; RSU grants sized at $125,000 fair value with transparent vesting; dividend equivalents paid only upon vesting; anti‑hedging/anti‑pledging and clawback policies in place, improving governance hygiene .
- Potential conflicts/monitoring points: Company disclosed ordinary‑course raw material purchases from two companies where directors serve as an executive or director/investor; none constituted a related‑party transaction requiring Audit Committee approval, but ongoing monitoring is prudent given Mr. Lich’s senior executive role at a large materials supplier (companies not named) .
- Attendance/engagement: Attendance threshold met (≥75%); independent directors held four executive sessions in 2024, supporting engagement without management present .
Committee Assignments Summary
| Committee | Role | Chair? | 2024 Meetings |
|---|---|---|---|
| Audit | Member | No (Chair: N. Ramdev) | 8 |
| Compensation | Member | No (Chair: L. Abramson) | 4 |
| Nominating | Member | No (Chair: W. T. Donovan) | 1 |
Director Compensation Program Features
- Cash: $110,000 annual Board retainer; $12,000 per member for Audit and Compensation committees; $25,000 for each committee chair (Audit/Comp/Nominating) .
- Equity: Annual $125,000 fair value award in RSUs or restricted shares, vesting at the next annual meeting; pro‑rata awards for mid‑year appointees .
RED FLAGS: None disclosed specific to Mr. Lich (no RPTs requiring approval; no hedging/pledging permitted). Continued vigilance warranted due to ordinary‑course purchases from firms where directors hold executive roles (companies not identified) .