Albert Bolles
About Albert Bolles
Independent director since 2016 (age 67), based in Michigan, USA. Former CEO of Landec Corporation and senior R&D/operations leader at ConAgra and PepsiCo; holds B.S. in Microbiology and M.S./Ph.D. in Food Science from Michigan State University. Chairs SunOpta’s Corporate Governance Committee and serves on the Compensation Committee, bringing deep food industry, R&D, quality, and regulatory expertise (including work with FDA/USDA and the Food Safety Modernization Act). The Board classifies him as independent under NASDAQ/CSA standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Landec Corporation | Chief Executive Officer | 2014–2022 | Led profitability, operating, innovation and quality improvements; enabled divestiture of Curation Foods and transitioned Lifecore Biomedical to stand-alone corporation |
| ConAgra Foods, Inc. | EVP, Chief Technology & Operations Officer; EVP Research, Quality & Innovation | 2006–2014 | Championed development/execution of multiple new/improved products driving incremental growth and multi‑year pipeline |
| PepsiCo, Inc. | Vice President, Worldwide R&D (Beverages and Foods; Quaker) | Not disclosed | Led global product/process/package/sensory R&D; Nutrition, Quality, Scientific & Regulatory Affairs |
External Roles
| Organization | Role | Tenure | Committee/Notes |
|---|---|---|---|
| Arcadia Biosciences Inc. (NASDAQ: RKDA) | Director | 5/2018–Present | Not disclosed |
| Landec Corporation (NASDAQ: LNDC) | Director | 5/2014–6/2019 | Not disclosed |
Board Governance
- Committees: Corporate Governance (Chair); Compensation member; not on Audit. All committees are composed entirely of independent directors.
- Independence: Determined independent by the Board; 7 of 8 directors are independent.
- Attendance: In 2024, Board met 9 times; each incumbent attended ≥78% of Board meetings; Compensation and Corporate Governance committees had 100% attendance; no director was below 75% aggregate; all directors attended the 2024 annual meeting virtually.
- Board leadership: Independent Chair (Leslie Starr); executive sessions of independent directors routinely held.
- Skills: Bolles mapped to Corporate Governance, ESG, Food & Beverage, Food Safety & Quality, Investor Relations, Risk Management, Senior Leadership, Strategy/Operations.
Fixed Compensation
- Director fee schedule (effective May 2024): Annual cash retainer $70,000; Board Chair $90,000; Audit Chair $20,000; Compensation Chair $15,000; Corporate Governance Chair $10,000; Audit member $8,000; other committee member $5,000; plus annual RSUs valued at $110,000 (12‑month vesting). Directors can elect stock in lieu of cash and may defer equity under the Non‑Employee Director Stock Deferral Plan.
2024 Non-Employee Director Compensation (Bolles)
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) | Notes |
|---|---|---|---|---|
| Dr. Albert Bolles | 78,650 | 110,000 | 188,650 | Elected to receive $39,325 of cash retainers in stock in lieu of cash |
Performance Compensation
- Director equity: Annual RSUs valued at $110,000, vesting in 12 months; no director performance metrics tied to director compensation (time‑based vest).
| Element | Grant Value | Vesting | Performance Metrics |
|---|---|---|---|
| RSUs (annual) | $110,000 | 12 months | None (time‑based only) |
Other Directorships & Interlocks
- Current public boards: Arcadia Biosciences (RKDA).
- Prior public boards: Landec (LNDC).
- Interlocks/related parties: The proxy discloses no related party transactions involving directors/executives since the most recent fiscal year; Audit Committee oversees related party review.
Expertise & Qualifications
- Food industry operating/R&D leadership (PepsiCo beverages/foods, ConAgra consumer foods), quality/regulatory, and innovation; policy influence with FDA/USDA; advanced food science education.
Equity Ownership
- Ownership guidelines: Directors must hold 5× annual cash retainer; 5‑year transition to comply; company notes 4 of 7 independent directors are compliant, with three still in transition (individual compliance status not disclosed).
- Hedging/pledging: Prohibited for officers and directors per policy; company states it does not allow hedging or pledging of company stock.
| Metric | As of Mar 27, 2025 | As of Oct 17, 2025 |
|---|---|---|
| Common Shares Beneficially Owned | 204,110 | 229,984 (post Form 4 transaction) |
| Vested Options (exercisable within 60 days) | 5,322 | Not disclosed |
| Vested RSUs/PSUs (within 60 days or deferred) | 0 | Not disclosed |
| Total Beneficial Ownership (Common + vested derivative) | 209,432 | 229,984 |
| Ownership % of Common Shares | <1% (*) | <1% (implied) |
Insider Trades (Form 4)
| Date | Transaction | Shares | Price | Post-Transaction Beneficial Ownership | Notes |
|---|---|---|---|---|---|
| May 29, 2025 | Stock award in lieu of cash | 20,072 | Not disclosed | 226,368 | Director compensation equity issuance |
| Jul 25, 2025 | Stock award (grant) | 1,810 | $6.64 | 228,178 | Equity in lieu of cash for board service |
| Oct 17, 2025 | Stock award (grant) | 1,806 | $5.68 | 229,984 | Equity in lieu of cash for board service |
Policy note: Directors may elect to receive stock in lieu of cash retainers; RSUs vest in 12 months.
Governance Assessment
- Committee leadership and engagement: As Governance Chair, Bolles oversees board composition, annual board/CEO evaluations, governance principles, and director compensation, supporting board effectiveness and refreshment. His 2024 committee attendance was 100%, indicating strong engagement.
- Alignment and ownership: He consistently elects equity in lieu of cash and increased holdings through Form 4 stock awards, reinforcing alignment. Director ownership guidelines require 5× retainer; his individual compliance status is not disclosed, but the company reports most independent directors are in compliance and remaining are within transition periods.
- Independence and conflicts: Board deems him independent; the proxy reports no related party transactions involving directors. Hedging/pledging is prohibited, reducing misalignment risk.
- Shareholder signals: 2024 say‑on‑pay support was ~94%, evidencing investor confidence in compensation governance frameworks overseen by committees on which Bolles serves.
RED FLAGS
- None disclosed specific to Bolles: no related‑party transactions; adequate attendance; no hedging/pledging; director equity time‑based only (no performance loopholes). Monitoring recommended on director ownership guideline compliance (individual director statuses not named).