Eric Parthemore
About Eric Parthemore
Eric Parthemore, age 75, has served as an independent director of StoneX Group Inc. (SNEX) since 2009 (following the FCStone merger). He retired in 2017 as President & CEO of Heritage Cooperative, Inc. (West Mansfield, OH), bringing deep risk management and agricultural supply chain expertise from decades leading a large grain and supply cooperative and prior senior roles and board leadership at FCStone (Director since 1996; Vice Chairman 2007; Secretary & Treasurer until 2007). He is currently independent under Nasdaq rules and is a long-tenured board member at SNEX .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Heritage Cooperative, Inc. | President & Chief Executive Officer | 1996–2017 (Heritage from Sep 2009; same capacity with predecessor since 1996) | Led multiple mergers/integration of cooperatives; brings client-aligned risk management expertise relevant to SNEX’s customer base |
| FCStone | Director; Vice Chairman; Secretary & Treasurer; Executive Committee member | Director 1996–2009; Vice Chairman from Jan 2007; Secretary & Treasurer until Jan 2007 | Governance and executive oversight experience through FCStone’s growth and merger into StoneX |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Ohio Agricultural Commodity Advisory Commission | Commissioner (appointed by Ohio Secretary of Agriculture) | 2004–2015 | State-level commodities oversight and advisory experience |
| National Grain Car Council (Surface Transportation Board) | Member | 2009–Sep 2017 | Rail transport and agricultural logistics advisory body under U.S. DOT |
Board Governance
- Independence: The board determined all directors except former CEO Sean O’Connor are independent; all five committees are comprised solely of independent directors. Parthemore is independent .
- Committee Assignments (FY2024):
- Nominating & Governance Committee: Chair; 6 meetings in FY2024
- Compensation Committee: Member; 5 meetings in FY2024
- Attendance and engagement:
- Board held 6 meetings; each director attended at least 75% of board and committee meetings; all directors attended the 2024 annual meeting (Feb 27, 2024) .
- Board leadership and executive sessions: Chairman is an independent director; CEO and Chair roles are separated. Non‑management directors meet in executive session at each regularly scheduled board meeting .
Fixed Compensation (Director Fees)
| Component | FY2024 Terms | Notes |
|---|---|---|
| Annual cash retainer (non‑employee directors) | $110,000 | Standard cash retainer |
| Committee chair fee | $25,000 per chair | Parthemore chairs Nominating & Governance Committee |
| Board chair fee | $60,000 | Applies to independent Board Chair (not Parthemore) |
| Equity grant (restricted stock) | $120,000 (annual) | Standard annual equity to directors |
| Cash-for-stock election (optional) | Directors can exchange 10%, 20%, 30% or fixed amount of cash fees for restricted stock at a 25% discount | Parthemore did not elect in FY2024; the four participants were Fowler, Kass, Radziwill, Thamodaran |
| Eric Parthemore – FY2024 Director Compensation | Amount |
|---|---|
| Fees earned or paid in cash | $132,351 |
| Stock awards (fair value) | $120,035 |
| Total | $252,386 |
Director equity vesting: Approximately 50% of non‑employee director fees are delivered as restricted stock. Beginning in FY2024, director restricted stock vests after one year (prior grants used a 3‑year ratable schedule) .
Performance Compensation
Directors do not receive performance‑based incentive plans; equity is time‑based restricted stock subject to a minimum one‑year vest beginning FY2024. Director stock ownership guidelines require ownership equal to 3x the most recent year’s director cash compensation within five years; all directors have met or exceeded this policy .
Other Directorships & Interlocks
- Public company boards: None disclosed in Parthemore’s biography .
- Potential interlocks/conflicts: The proxy discloses no related‑party transactions in FY2024 and notes the Nominating & Governance Committee reviews potential conflicts; none applicable in the year .
Expertise & Qualifications
- Risk management and agricultural markets expertise aligned to SNEX’s client base; integration experience from leading a large cooperative through multiple mergers .
- Governance: Chairs Nominating & Governance, member of Compensation Committee, contributing to board composition, compliance/AML oversight, ESG monitoring, and pay governance .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (Eric Parthemore) | 18,860 shares; less than 1% of class (as of Dec 31, 2024) |
| Unvested restricted stock (outstanding) | 3,877 shares (as of Sep 30, 2024) |
| Shares pledged (collateral/margin) | No pledging disclosed for Parthemore; margin/pledge disclosures in table footnotes covered other individuals, not Parthemore |
| Director ownership guideline (policy) | 3x annual director cash compensation; all directors meet/exceed |
| Hedging/pledging policy | Company prohibits shorting and purchase of puts; does not prohibit other hedging or pledging by officers/directors |
Governance Assessment
-
Strengths
- Independent, long-tenured director with deep client‑aligned risk and ag‑supply chain expertise; chairs N&G and sits on Compensation, indicating centrality in governance and pay oversight .
- Documented engagement: N&G met 6x and Compensation 5x in FY2024; board met 6x with at least 75% attendance for every director and full attendance at the annual meeting .
- Investor alignment signals: 2024 say‑on‑pay approval ~98.3%, supportive of compensation oversight by the Compensation Committee (of which Parthemore is a member) .
- Ownership alignment: Annual equity grants to directors; all directors meet/exceed 3x ownership guideline .
- Conflicts: No related‑party transactions disclosed for FY2024; Section 16(a) compliance broadly met (one late Form 3 for an executive, not a director) .
-
Watch items
- Company policy permits pledging (though no pledge disclosed for Parthemore); investors often view pledging as a potential misalignment risk—monitor future disclosures .
- Director equity vesting shortened to one year beginning FY2024 (from prior three‑year ratable), which modestly reduces long‑term holding incentives relative to prior practice .
Board structure context: Chairman is independent and separate from CEO; independent directors hold executive sessions at each regularly scheduled meeting, supporting robust oversight .