Tan Parker
About Tan Parker
Independent Class I director appointed May 19, 2025; currently a Texas State Senator and Chair of the Senate Republican Caucus, with prior service as Chair of the House Financial Services Committee. Background spans public policy on AI governance, cybersecurity, and capital markets, combined with private-sector roles in private equity/venture capital; founder & president of Applied Business Strategies, co-founder of MagnaSci Biotechnology Funds and Septum Solutions, and chair of the Texas Industrial Development Corporation’s infrastructure investment fund. Earlier career includes Morgan Stanley Dean Witter and Regional Vice President at Computer Sciences Corporation; sits on the University of Dallas Board of Trustees; holds a B.A. (University of Dallas) and M.Sc. (London School of Economics). Age not disclosed in filings; tenure at SLND begins May 19, 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Texas Legislature | Senator; Chair, Senate Republican Caucus; Former Chair, House Financial Services Committee | “Almost two decades” legislative service (exact dates not disclosed) | Led initiatives on AI governance, cybersecurity, homeland security, and capital markets (incl. Texas Stock Exchange efforts; support for satellite NYSE/NASDAQ exchanges in Texas) |
| Texas Industrial Development Corporation | Chair, infrastructure investment fund | Not disclosed | Oversight of infrastructure investment strategy |
| Applied Business Strategies | Founder & President | Not disclosed | Investment and advisory leadership |
| MagnaSci Biotechnology Funds | Co-Founder | Not disclosed | Med-tech venture formation |
| Septum Solutions | Co-Founder | Not disclosed | Med-tech venture formation |
| Morgan Stanley Dean Witter | Early career | Not disclosed | Capital markets grounding |
| Computer Sciences Corporation | Regional Vice President | Not disclosed | Technology operations leadership |
External Roles
| Organization | Role | Public/Private/Non-Profit | Notes |
|---|---|---|---|
| University of Dallas | Board of Trustees | Non-Profit | Governance at academic institution |
| Texas Legislature | Senator; Caucus Chair | Public | Ongoing public service and policy leadership |
Board Governance
- Appointment: Class I director, effective May 19, 2025; no committee assignments at appointment; participates in non‑employee director compensation program; no Item 404(a) transactions disclosed .
- Committee landscape (2024 composition for context): Audit (Chair: Izzy Martins; members: Greg Monahan, Kyle Burtnett), Compensation (Chair: Kyle Burtnett; members: Izzy Martins, Greg Monahan), Nominating & Governance (Chair: Mario Ramirez; member: Greg Monahan); each met 4 times in 2024 . After Burtnett’s resignation on May 15, 2025, Parker was appointed to fill the vacant seat; committee reassignments for 2025 not disclosed yet .
- Independence framework: SLND is a “controlled company” but elects to comply with NYSE independence requirements; independent director determination applied to board members, with majority independent as of 2025; hedging prohibited under Insider Trading Policy .
- Board leadership: CEO Frank Renda serves as acting interim Chairman; no Lead Independent Director; Board rationale emphasizes unified direction for operations and growth .
- Attendance baseline: Board met four times in 2024; all directors met ≥75% attendance; Parker joined in 2025, so attendance not yet applicable .
Fixed Compensation
Program structure Parker will participate in (per 2025 proxy):
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer (non‑employee directors) | $75,000 | Increased from $15,000 effective June 2024 . |
| Audit Committee Chair fee | $10,000 | Additional cash compensation . |
| Other Committee Chair fee | $5,000 | Additional cash compensation . |
| Meeting fees | Not disclosed | No per‑meeting fees disclosed . |
2024 realized values for non‑employee directors:
| Director | Cash Fees ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Izzy Martins | 55,000 | 91,398 | 146,398 |
| Greg Monahan | 45,000 | 91,398 | 136,398 |
| Mario Ramirez | 50,000 | 91,398 | 141,398 |
Note: Parker appointed in May 2025; his 2025 compensation outcomes not yet disclosed .
Performance Compensation
| Element | Grant details | Metrics | Vesting |
|---|---|---|---|
| Director RSUs | 19,956 RSUs granted to each non‑employee director on June 25, 2024; grant‑date fair value $91,398 | None disclosed for directors (time‑based, not performance‑based) | Not explicitly disclosed for directors; RSUs granted; executive awards have defined schedules, but director RSU vesting specifics not detailed . |
Executive PSUs exist with Adjusted EBITDA metrics; not applicable to directors .
Other Directorships & Interlocks
| Company/Entity | Type | Role | Potential Interlock/Conflict Considerations |
|---|---|---|---|
| University of Dallas | Non-Profit | Board of Trustees | No SLND transaction or conflict disclosed . |
| Texas Legislature | Government | Senator; Caucus Chair | Policy influence in infrastructure/markets may create perceived political exposure; no SLND related‑party transactions or arrangements disclosed . |
No public company board roles disclosed for Parker in SLND filings; no Item 404(a) transactions disclosed .
Expertise & Qualifications
- Policy and regulatory expertise: AI governance, cybersecurity, homeland security, capital markets; leadership in developing Texas Stock Exchange initiatives and support for exchange expansions in Texas .
- Investment/PE/VC experience: Applied Business Strategies; MagnaSci Biotechnology Funds; Septum Solutions; infrastructure investment oversight via Texas Industrial Development Corporation .
- Education: B.A. University of Dallas; M.Sc. London School of Economics .
- Financial and technology exposure: Early roles at Morgan Stanley Dean Witter and CSC .
Equity Ownership
| Item | Status |
|---|---|
| Beneficial ownership at SLND | Not disclosed for Parker as of April 24, 2025 (he was appointed May 19, 2025); future Section 16 filings to reflect holdings . |
| Hedging/Pledging | Hedging prohibited by Insider Trading Policy; pledging not discussed; no pledging disclosure for Parker . |
| Director ownership guidelines | Not disclosed in proxy . |
Governance Assessment
- Positives:
- Declassification proposal adopted framework and filed via Charter/Bylaws amendment, increasing annual accountability of directors from 2026 forward .
- Majority independent board with independent committees; Audit members designated “financial experts” .
- Anti‑hedging policy enhances alignment .
- Parker brings policy, cybersecurity, and capital markets expertise useful for risk oversight and strategic positioning .
- Watch items / Red flags:
- Controlled company status with CEO serving as acting interim Chairman and no Lead Independent Director reduces independent counterbalance .
- Related‑party activity elsewhere in the enterprise (sale‑leaseback to entity with CEO/COO minority interests; payments of $2.0 million; CEO personal guarantee on delayed draw term loan amendment) underscores conflict‑management needs; Parker’s absence from Item 404(a) transactions is positive but board‑wide related‑party oversight remains critical .
- Committee assignments for Parker not disclosed at appointment; ensuring meaningful committee engagement will be important for board effectiveness .
Appendix: Key Director Appointment Disclosure
- Appointment details: Tan Parker appointed May 19, 2025 as Class I director; no committee assignments; participates in non‑employee director compensation; no Item 404(a) transactions or appointment arrangements disclosed .