Peter Levy
About Peter Levy
Peter A. Levy, age 65, has served as an independent director of Surge Components, Inc. since April 2017. He is an equity shareholder at the law firm Mandelbaum Barrett and serves on its Executive Committee, with prior leadership roles as COO at public companies Empire Sports & Entertainment and MYOS Corporation and as a partner at Sobel & Company, bringing deep expertise in corporate governance, M&A, and strategic planning .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mandelbaum Barrett | Equity shareholder; Executive Committee member | Since Sept 2015 | Oversees department practices; governance expertise |
| Sobel & Company | Partner (regional accounting firm) | 12 years (dates not disclosed) | Finance/accounting expertise |
| Empire Sports & Entertainment | Chief Operating Officer | Not disclosed | Public company operating experience |
| MYOS Corporation | Chief Operating Officer; President | Not disclosed | Positioned company on NASDAQ; governance/strategic leadership |
External Roles
| Organization | Role | Type | Tenure/Notes |
|---|---|---|---|
| Easter Seals — Camp ASCCA | Board member; Corporate Liaison | Non-profit | 20+ years; co-builder of Roswal-Levy Tower |
| Hamp’s Camp (Rodney Hampton charity) | Board member | Non-profit | Over a decade; youth leadership focus |
Board Governance
- Independence: The Board determined Peter Levy is independent under Nasdaq rules and Rule 10A-3 .
- Committees and roles:
- Audit Committee: Member; committee chaired by Gary Jacobs; 4 meetings in FY2024 .
- Compensation Committee: Chair (with Gary Jacobs as member); 2 meetings in FY2024 .
- Nominating & Corporate Governance Committee: Member; chaired by Gary Jacobs; 1 meeting in FY2024 .
- Attendance: Board held 5 meetings in FY2024; each director attended at least 75% of Board and committee meetings; all directors attended the Nov 26, 2024 annual meeting .
| Governance Attribute | FY2023 | FY2024 |
|---|---|---|
| Board meetings held | 5 | 5 |
| Audit Committee meetings | 4 | 4 |
| Compensation Committee meetings | 2 | 2 |
| Nominating & Gov Committee meetings | 1 | 1 |
| Director independence (Peter Levy) | Independent | Independent |
| Annual meeting attendance | All directors attended (Nov 30, 2023) | All directors attended (Nov 26, 2024) |
Fixed Compensation
- Director pay program (FY2024): Monthly cash fee of $3,000; $4,000 per month for a non-employee director that serves as the chairman of more than two committees; non-employee directors eligible for equity awards with no annual target amount set .
- Actual FY2024 non-employee director compensation (cash only for Peter Levy):
| Director | Fees Earned or Paid in Cash ($) | Total ($) |
|---|---|---|
| Peter Levy | 36,000 | 36,000 |
Performance Compensation
- Equity awards for non-employee directors: Eligible; no annual target amount; no FY2024 director equity grants disclosed for Peter Levy in the director compensation table .
- Performance metrics: None disclosed for director compensation (program centers on fixed cash retainer; equity eligibility without targets) .
| Metric Type | FY2024 Disclosure |
|---|---|
| Equity award grant (RSUs/PSUs) to Peter Levy | Not disclosed |
| Options to directors (new FY2024 grants) | Not disclosed |
| Performance metrics tied to director pay | Not disclosed |
Other Directorships & Interlocks
- Public company directorships (current): None disclosed for Peter Levy .
- Prior public company roles: Executive roles (COO/President) at Empire Sports & Entertainment and MYOS Corporation (not as director) .
- Committee chair interlocks: Internal to Surge—Peter Levy chairs Compensation; Gary Jacobs chairs Audit and Nominating, which may explain higher cash fees for Jacobs in FY2024 (48,000), whereas Levy’s total was 36,000 .
| Entity | Role | Public/Private | Committee Roles |
|---|---|---|---|
| Empire Sports & Entertainment | COO | Public | Not disclosed |
| MYOS Corporation | COO; President | Public | Not disclosed |
| Surge Components, Inc. | Director; Comp Committee Chair | Public | Audit member; Nom/Gov member |
Expertise & Qualifications
- Finance, accounting, legal, and corporate governance expertise from law firm Executive Committee leadership and prior accounting partnership .
- Strategic planning, M&A, joint ventures, and business process experience; successful NASDAQ uplisting at MYOS .
- Community leadership with long-standing non-profit board service .
Equity Ownership
- Beneficial ownership increased from 35,000 shares (Aug 31, 2024) to 50,000 shares (Aug 31, 2025); both less than 1% of shares outstanding .
- Options (exercisable within 60 days):
- 2024: 15,000 options @ $1.41; 20,000 options @ $3.55 .
- 2025: 30,000 options @ $2.20 .
| Metric | Aug 31, 2024 | Aug 31, 2025 |
|---|---|---|
| Shares beneficially owned | 35,000 | 50,000 |
| % of shares outstanding | Less than 1% | Less than 1% |
| Options exercisable within 60 days | 15,000 @ $1.41; 20,000 @ $3.55 | 30,000 @ $2.20 |
Stock ownership guidelines, hedging/pledging policies, and director-specific ownership requirements: Not disclosed in the proxy materials reviewed .
Governance Assessment
- Strengths: Independent director with multidisciplinary finance/legal background; chairs Compensation Committee, indicating trust in pay oversight; consistent meeting attendance (≥75%) and participation across Audit and Nominating committees supports board effectiveness .
- Alignment: Holds Company equity and near-term exercisable options, though absolute ownership remains under 1%, typical for micro-cap boards; no director equity target disclosed for non-employee directors may limit longer-term alignment signals .
- Conflicts/Related party exposure: No related-party transactions disclosed involving Peter Levy personally; Company leases office space from an entity owned 50% by the CEO and VP, reviewed under Audit Committee procedures where Levy is a member, underscoring the need for vigilant independent oversight .
- RED FLAGS: None specifically tied to Peter Levy disclosed (no pledging/hedging, tax gross-ups, or option repricing reported for directors); broader governance watch items include management-related party leases and concentration of roles (CEO also CFO), which the Audit and Compensation Committees—where Levy serves—must actively mitigate .