William Allen
About William T. Allen
William T. Allen (age 68) is an independent director of Savers Value Village (SVV) serving since May 2019 and a member of the Compensation Committee. He is the former CEO and Board Chairman of Werner Co., Inc. and has 30 years of turnaround leadership across industrial sectors (nuclear power, petrochemical, automotive, industrial equipment, steel fabrication, plastic injection molding). Current external roles include director positions at AQuity Solutions and Schultze Special Purpose Acquisition Corp. II. He received the Pittsburgh Business Times Diamond Award (CEO of the Year, Large For-Profit) in 2012 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Werner Co., Inc. | Chief Executive Officer; President & Chairman of the Board | CEO Aug 2007–Dec 2017; Chairman Mar 2009–Jul 2017 (sale to Triton) | Led industrial manufacturer through ownership transition |
| Schultze SPAC I | Director | Dec 2018–Dec 2020 (business combination with Clever Leaves) | SPAC board and de-SPAC oversight |
| Rockport | Board Member | Dec 2017–Jul 2018 (company filed Chapter 11 in May 2018 and again Jun 2023) | Board service during restructuring context |
| Chart Industries, Inc. | Former CEO | Not disclosed | Industrial leadership (prior roles) |
| APW Company; Wright Line LLC | Former CEO | Not disclosed | Operational turnarounds |
| Other prior boards: USI, Arclin, Constar, Ames Taping Tools, Oriental Trading, Hines Nurseries, Running Aces Harness Park, Millennium Rail | Director (various) | Not disclosed | Many roles were on behalf of leading alternative investment firms including Ares, Black Diamond, Oaktree, Crescent |
External Roles
| Organization | Role | Status / Tenure | Notes |
|---|---|---|---|
| AQuity Solutions (formerly MModal Inc.) | Director | Current | Clinical documentation technology provider |
| Schultze SPAC II | Director | Current | SPAC board member |
| Schultze SPAC I | Director | Dec 2018–Dec 2020 | Completed combination with Clever Leaves |
Board Governance
- Committee assignments: Member, Compensation Committee; not a chair .
- Independence: Board affirmatively determined Allen is independent under NYSE rules .
- Attendance: In fiscal 2024, the Board met 5 times; committees (Audit, Compensation, Nominating/Governance & Sustainability) met 4 times each. All directors (including Allen) attended at least 75% of their Board/committee meetings; all directors attended the 2024 annual meeting .
- Controlled company: SVV is a NYSE “controlled company” under Ares; may rely on exemptions from majority-independent Board and fully independent Nominating/Compensation Committees (Audit Committee remains fully independent) .
- Compensation Committee composition (FY24): Aaron Rosen (Chair), Jordan Smith, William Allen, Duane Woods .
Fixed Compensation
| Item | FY2024 Amount | FY2023 Amount | Notes |
|---|---|---|---|
| Annual cash retainer | $80,000 | $76,250 | Standard non-employee director retainer (excludes Ares-affiliated directors) |
| Committee chair fees | — | — | Not a chair |
| Equity retainer (RSUs grant-date fair value) | $129,987 | $165,456 | 2024 RSUs valued at $13.78 per unit; vest earlier of 1-year from grant or next annual meeting; deferral option available |
| All other comp (one-time) | — | $186,000 | Special compensation in 2023 tied to $550m senior secured notes issuance while private; non-recurring |
| Total | $209,987 | $427,706 |
Director compensation structure:
- Non-employee directors receive $80k cash retainer and $130k annual equity retainer in time-based RSUs; RSUs vest on earlier of one year from grant or next annual meeting; directors may elect deferral until separation. Hedging/pledging of company stock prohibited .
Performance Compensation
| Component | Grant/Units | Vesting / Metrics | Valuation Details |
|---|---|---|---|
| RSUs (Annual Director Grant) | 9,433 RSUs outstanding as of FY2024 year-end | Time-based only; vest earlier of one-year from grant or next annual meeting; can be deferred | Grant-date fair value $13.78 per RSU in 2024 |
| Stock Options (legacy) | 74,060 options outstanding (director) at FY2024 year-end | Time-based per prior program; no 2024 director option grants | — |
Note: Director awards are time-based and not tied to performance metrics; no director-specific performance goals are disclosed for equity .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public/private boards | AQuity Solutions (Director); Schultze SPAC II (Director) |
| Prior public/private boards | Schultze SPAC I (Director, 2018–2020) and multiple industrial/consumer companies; some roles held on behalf of sponsors including Ares, Black Diamond, Oaktree, Crescent |
| Compensation Committee interlocks | None of SVV’s executive officers served on another company’s board/comp committee with any of SVV’s comp committee members in the past year; except Duane C. Woods is a current SVV director and former officer (no interlock) |
Expertise & Qualifications
- Turnaround leadership and operational excellence across industrial sectors; former CEO and chair of Werner Co. .
- Extensive board and sponsor-backed company experience, including SPAC governance and restructuring exposure (Rockport Chapter 11 periods noted) .
- Strategic planning and growth oversight via Compensation Committee role .
Equity Ownership
| Measure | Value | Notes |
|---|---|---|
| Beneficial ownership (3/31/2025) | 49,699 shares (including options exercisable within 60 days) | Less than 1% of shares outstanding |
| Options exercisable within 60 days (as included above) | 42,477 | Included in beneficial ownership per SEC rules |
| RSUs outstanding (FY2024 year-end) | 9,433 RSUs | RSUs count toward director ownership guidelines |
| Options outstanding (FY2024 year-end) | 74,060 | Legacy options; no 2024 director option grants |
| Pledging/Hedging | Prohibited for directors; no pledging disclosed | |
| Ownership guidelines | 5x annual cash retainer (5×$80k) within 5 years; includes owned shares and unvested RSUs; excludes unexercised options and unvested performance awards |
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Security | Qty | Price | Post-Transaction Holdings (Security Type) | Source |
|---|---|---|---|---|---|---|---|
| 2025-08-19 | 2025-08-15 | M-Exempt (Option exercise) | Option (Right to Purchase) | 12,402 | $1.41 | 43,820 options | https://www.sec.gov/Archives/edgar/data/1883313/000126465725000004/0001264657-25-000004-index.htm |
| 2025-08-19 | 2025-08-15 | A (Acquisition from option exercise) | Common Stock | 12,402 | $1.41 | 29,057 common | https://www.sec.gov/Archives/edgar/data/1883313/000126465725000004/0001264657-25-000004-index.htm |
Note: Post-transaction holdings reflect each security type separately (options vs. common), as reported on the Form 4.
Governance Assessment
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Strengths
- Independent director with deep operating and turnaround experience; clear independence determination under NYSE rules .
- Active on the Compensation Committee, which met four times in FY2024; overall Board and committee attendance was strong (≥75% for all directors; all attended 2024 annual meeting) .
- Alignment mechanisms: director equity in time-based RSUs; director stock ownership guidelines (5× retainer); prohibitions on hedging and pledging .
-
Risks / Red Flags to monitor
- Controlled company structure and Ares’ extensive consent rights (e.g., CEO hiring/termination, major transactions, capital raises) can influence board dynamics and perceived independence; Compensation Committee includes sponsor-affiliated directors alongside Allen .
- Prior restructuring exposure (e.g., Rockport’s Chapter 11) underscores Allen’s turnaround background but may draw investor scrutiny; context matters given sponsor-backed governance .
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Implications for investors
- As an independent member of the Compensation Committee, Allen contributes operating rigor and turnaround discipline to pay and talent oversight. However, the controlled company framework and sponsor consent rights remain key governance overhangs to assess alongside compensation outcomes and shareholder feedback each year .