Raymond F. Weldon
SelectQuoteAbout Raymond F. Weldon
Raymond F. Weldon, 66, is an independent director of SelectQuote (SLQT) who has served on the Board since 2014 and has chaired the Audit Committee since 2016. He is a co‑founder and Managing Director of Brookside Equity Partners LLC (since 2012) and a Managing Director at Hillside Capital Incorporated (since 1999); he is a Certified Public Accountant (inactive), with an undergraduate degree from LaSalle University’s Honors Program and a Masters in Taxation from Villanova University . The Board deems him independent under NYSE standards and lists him as an “audit committee financial expert” .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SelectQuote, Inc. | Director; Audit Committee Chair | Director since 2014; Audit Chair since 2016 | Chairs Audit Committee; designated “audit committee financial expert”; signed Audit Committee Report |
| Brookside Equity Partners LLC | Co‑Founder; Managing Director | 2012–present | Private investment firm leadership |
| Hillside Capital Incorporated | Managing Director | 1999–present | Private investment company (affiliate of Brookside) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Park AQ Pension Management, Inc. | Director | Not specified | Investment adviser to the Ampex Retirement Master Trust; Weldon has shared voting/dispositive power over 684,318 SLQT shares held by the trust (he disclaims beneficial ownership) |
| Various private companies | Director | Not specified | Serves as a director of several private companies (not individually named) |
Board Governance
| Committee | Role | FY2025 Meetings | Notes |
|---|---|---|---|
| Audit Committee | Chair | 5 | Board-designated “audit committee financial expert”; oversees financial reporting, internal controls, compliance, and cybersecurity |
| Compensation & Talent Development | Not a member | 4 | N/A |
| Nominating & Corporate Governance | Not a member | 3 | N/A |
| Healthcare Oversight | Not a member | 4 | N/A |
- Independence: Independent under NYSE rules; Audit Committee members (including Weldon) meet SEC/NYSE independence criteria .
- Attendance and engagement: The Board met 4 times in FY2025; each director attended at least 75% of aggregate Board and applicable committee meetings, and all directors attended the 2024 Annual Meeting .
- Executive sessions: Non‑employee and independent directors meet in regular executive sessions; independent Chair presides (Donald L. Hawks III) .
Fixed Compensation
| Fiscal Year | Cash Retainer Components | Amount |
|---|---|---|
| FY2025 | Board member annual retainer | $50,000 |
| FY2025 | Audit Committee member retainer | $10,000 |
| FY2025 | Audit Committee Chair retainer | $17,500 |
| FY2025 Total Cash | — | $77,500 |
Notes: Weldon’s FY2025 cash reflects the standard non‑employee director schedule approved by the Compensation Committee and itemized in footnote (8) to the non‑employee director compensation table .
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant Date Fair Value | Vesting |
|---|---|---|---|---|
| RSU Retainer | Nov 12, 2024 | 52,631 | $129,999 | RSUs vest on the date of the next annual meeting (Nov 11, 2025), subject to continued service |
| Options | — | — | — | Weldon had no options outstanding as of FY2025 year‑end |
Notes: Director RSU retainers target $130,000 per year; the grant vests at the following year’s annual meeting (for FY2025, Nov 11, 2025) . No director meeting fees are paid; expenses are reimbursed .
Other Directorships & Interlocks
| Entity | Type/Status | Detail | Governance Consideration |
|---|---|---|---|
| Brookside Equity Partners LLC (entities associated) | 10.1% SLQT holder | Entities associated with Brookside beneficially own 17,678,757 SLQT shares (10.1%) | Weldon is Brookside co‑founder/MD; Board nonetheless determined he is independent. Affiliation with a 10% holder may be a perceived conflict; Audit Committee oversight and independence review noted . |
| Ampex Retirement Master Trust (via Park AQ Pension Management, Inc.) | Holder (via adviser) | 684,318 SLQT shares with shared voting/dispositive power by Weldon as a director of Park AQ Pension Management; Weldon disclaims beneficial ownership | Shared authority disclosed and disclaimed; included in beneficial ownership for transparency . |
Expertise & Qualifications
- Audit and finance: CPA (inactive); designated “audit committee financial expert” by the Board .
- Education: B.A. (LaSalle University Honors Program); Masters in Taxation (Villanova University) .
- Investing/board experience: Managing Director roles at Brookside Equity Partners and Hillside Capital; director of several private companies .
Equity Ownership
| Holder | As-of Date | Direct/Indirect Detail | Shares | % of Outstanding |
|---|---|---|---|---|
| Raymond F. Weldon (beneficial) | Sept 20, 2025 | Total beneficial ownership | 1,197,532 | <1% |
| — | — | Direct (incl. with spouse) | 460,583 | — |
| — | — | Via Ampex Retirement Master Trust (shared voting/dispositive power; disclaimed) | 684,318 | — |
| — | — | Stock awards vesting within 60 days | 52,631 | — |
- Ownership guidelines: Non‑employee directors must hold at least 5x the annual board cash retainer; as of the record date, all directors met the guideline .
- Hedging/pledging: Company policy prohibits short selling, hedging, margin purchases, and pledging of SLQT shares (with only narrow pre‑approved exceptions) .
- Options: Weldon had no outstanding options at FY2025 year‑end .
- Section 16 filings: The company disclosed certain late Forms 4 in FY2025 (executives and one director, Ms. Devine); no late filing was noted for Weldon .
Governance Assessment
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Strengths
- Long-tenured audit chair with CPA credentials; designated “audit committee financial expert,” enhancing financial oversight credibility .
- Independence affirmed by the Board under NYSE and SEC standards; Audit Committee members meet heightened independence criteria .
- Attendance met Board policy (≥75% of Board/committee meetings); all directors attended the 2024 annual meeting .
- Director pay structure is standard for peers (cash retainers plus time‑based RSUs) with no director meeting fees; anti‑hedging/pledging policy and ownership guidelines align director/shareholder interests .
-
Watch items / potential conflicts
- Affiliation with a 10.1% stockholder (entities associated with Brookside), while the Board determined independence, may be scrutinized by investors; continued clear recusals and robust Related Person Transaction policy oversight (by the Audit Committee) are important mitigants .
- Shared voting/dispositive authority over 684,318 shares via Park AQ Pension Management, Inc. is disclosed and disclaimed; transparency should be maintained in future filings .
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Additional context
- Governance framework includes regular executive sessions, a non‑executive independent Chair, and explicit Audit Committee oversight of cybersecurity and compliance—factors supportive of board effectiveness .
- Historical Series D director designation rights (under which Weldon originally joined the Board) terminated at IPO; current service is under standard governance .