Vikas Parekh
Director at SYM
Board
About Vikas Parekh
Independent director at Symbotic since June 2022, age 42, and Managing Partner at SoftBank Investment Advisors (SoftBank Vision Fund) since March 2016. Prior experience includes roles in private equity at KKR and consulting at Boston Consulting Group; education includes an MBA from Harvard Business School and BS/MS in Electrical/Electrical & Computer Engineering from Georgia Tech . He was selected for the board for his extensive experience in emerging technologies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SoftBank Investment Advisors (SoftBank Vision Fund) | Managing Partner | Mar 2016 – present | Made investments and held director seats across public and private markets |
| Kohlberg Kravis Roberts & Co. (KKR) | Private equity professional | Not disclosed | Investment experience |
| Boston Consulting Group | Consultant | Not disclosed | Strategy/operations exposure |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SoftBank Investment Advisors | Managing Partner | Mar 2016 – present | Strategic investor; ecosystem links to SYM via SoftBank-related entities |
Board Governance
- Independence and tenure: Independent director since June 2022; board determined all directors except CEO Richard Cohen are independent under SEC/Nasdaq rules .
- Committees: Audit Committee member; Nominating & Corporate Governance Committee member; not a committee chair .
- Attendance and engagement: Board met 10x in FY2024; Audit met 9x (plus 4 subcommittee sessions); Nominating met 2x; each director attended ≥75% of board and committee meetings during periods served .
- Leadership structure: CEO also serves as Chair; no lead independent director designated, though committees may hold executive sessions without management .
- Governance context: Walmart has rights to recommend an independent director and to send a non-voting observer; Cohen family board observers may attend as non-voting observers (company may exclude for conflicts) .
Fixed Compensation
| Item | Program Rate (FY2024) | Program Rate (FY2025) | Paid to Parekh FY2024 |
|---|---|---|---|
| Board cash retainer | $50,000 | $50,000 | $0 (declined) |
| Audit Committee member fee | $10,000 | $10,000 | $0 (declined) |
| Nominating & Gov. member fee | $5,000 | $5,000 | $0 (declined) |
| Committee chair premium (if applicable) | See program: Audit $20k→$25k; Comp $15k→$20k; N&G $10k (unchanged) | See program | N/A (not a chair) |
Notes: Company’s non-employee director program provides quarterly cash retainers; Mr. Parekh declined any compensation for his director service in FY2024 .
Performance Compensation
| Equity Component | Program Design | FY2024 Program Value | FY2025 Program Value | Granted to Parekh FY2024 |
|---|---|---|---|---|
| Annual RSU grant | Time-based; vests at 1 year/next annual meeting/CoC | $175,000 | $265,000 | $0 (declined) |
- Outstanding director equity: As of Sept 28, 2024, Parekh held 4,060 unvested RSUs (aggregate outstanding equity awards table) . Footnote indicates 2024 annual grants of 4,060 RSUs were issued to Ford, Kane, Krasnow, Rus, Saintil; Parekh declined compensation for services, explaining the $0 FY2024 grant to him .
- Performance metrics: Not applicable to directors; RSUs are time-based (no performance goals) .
Other Directorships & Interlocks
| Entity | Relationship | Potential Interlock/Exposure |
|---|---|---|
| SoftBank-related shareholders (SVF II SPAC Investment 3 (DE) LLC; SVF Sponsor III (DE) LLC) | Significant Class A holders: 39,825,312 shares (37.3% of Class A) and 9,090,000 shares (8.5% of Class A), respectively . | Parekh is Managing Partner at SoftBank Investment Advisors; board deemed him independent, but SoftBank’s large stake creates perceived affiliation . |
| GreenBox Systems LLC JV (SoftBank Group 65%, Symbotic 35%) | JV commitment to expend at least $7.5B on Symbotic systems over six years (agreement dated July 23, 2023) . | Material related-party commercial exposure to SoftBank Group ecosystem; oversight via related-party policy . |
Expertise & Qualifications
- Technology and investing: Extensive emerging technologies investing experience via SoftBank Vision Fund; adds capital markets and innovation lens to SYM board .
- Education: MBA (Harvard Business School); BS EE and MS ECE (Georgia Institute of Technology) .
Equity Ownership
| Measure | Amount |
|---|---|
| Beneficial ownership (as of Jan 6, 2025) | Not listed with any beneficially owned shares in directors’ ownership table (i.e., below reporting thresholds) . |
| Unvested RSUs outstanding (as of Sept 28, 2024) | 4,060 RSUs . |
| Hedging/pledging | Prohibited for directors under Insider Trading Policy . |
Insider Trades
| Item | Status |
|---|---|
| Section 16(a) filing timeliness (FY2024) | No delinquencies reported for Parekh (several others listed with late filings; Parekh not among them) . |
Governance Assessment
-
Strengths and alignment signals
- Independent director with strong technology/VC background; serves on Audit and Nominating committees, supporting board oversight and refreshment .
- Declined director compensation in FY2024 (cash and equity), a notable alignment posture versus typical programs .
- Company prohibits hedging/pledging and has a clawback policy; restatement of FY2024 interim financials did not trigger recovery, as incentive plans rely on audited annual results .
-
Watch items / potential conflicts
- SoftBank ecosystem exposure: large SoftBank-related shareholdings and a $7.5B GreenBox purchase commitment (SoftBank Group 65% owner) constitute material related-party exposure; while the board deems Parekh independent and has a related-party transaction policy, investors may monitor for conflicts and pricing/fairness rigor on JV execution .
- Audit oversight amid restatement: As an Audit Committee member, Parekh is part of financial reporting oversight during FY2024 interim restatement; future control and reporting quality remain important to investor confidence .
- Board leadership: Combined CEO/Chair with no lead independent director may constrain independent board leadership during sensitive matters; committees of independent directors can hold executive sessions .
Overall, Parekh brings valuable investing/technology expertise and has signaled alignment by declining director pay; however, SoftBank-related commercial and ownership ties create perceived conflict risk that merits continued attention to related-party governance, disclosure, and audit rigor .