Harrison B. Barnes
About Harrison B. Barnes
Independent director (since 2021) on Triumph Financial’s board; age 32. Barnes is a professional NBA athlete (since 2012), runs his family office overseeing investments and venture transactions, and serves on the boards of USA Basketball and the NBA Foundation (as an inaugural Player Representative). He previously served on the board of First National Bank (Ames, IA), the largest bank subsidiary of Ames National Corporation, and as Treasurer and Executive Committee member of the National Basketball Players Association. Board skill matrix highlights Banking Experience and Diversity for Barnes.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| National Basketball Association | Professional athlete | 2012–present | Represents USA in 2016 Olympics; public profile and leadership |
| Family Office (Barnes) | Oversees business affairs (investments, VC, public equities) | Since 2012 | Deal analysis and investment oversight |
| National Basketball Players Association (NBPA) | Treasurer; Executive Committee member | Not disclosed (served) | Union financial and governance leadership |
| Harrison Barnes Reading Academy | Founder | Not disclosed | Community literacy initiatives |
External Roles
| Organization | Public/Private | Role | Status |
|---|---|---|---|
| USA Basketball | Non-profit | Director | Current |
| NBA Foundation | Non-profit | Board Player Representative | Current |
| First National Bank (Ames, IA; subsidiary of Ames National Corporation, NASDAQ: ATLO) | Bank subsidiary (parent public) | Director | Served (dates not disclosed) |
| Other current public company boards | — | — | None disclosed |
Board Governance
- Committee assignments: Compensation Committee member; not a chair.
- Independence: Board determined Barnes is independent under SEC and Nasdaq standards.
- Attendance: In 2024 the Board held 4 meetings; committees held 21; each director attended at least 75% of total meetings of the Board and committees on which they served.
- Years of service: Director since 2021.
- Engagement context: Compensation Committee met 4 times in 2024 (Barnes is a member).
Fixed Compensation (Director)
| Item | Amount |
|---|---|
| 2024 Fees Earned or Paid in Cash | $43,000 |
| 2024 Stock Awards (grant-date fair value) | $74,994 |
| 2024 All Other Compensation (TBK Bank/subsidiary board fees per footnote) | $13,000 |
| 2024 Total Director Compensation | $130,994 |
Director fee schedule elements relevant to Barnes (2024):
- Triumph Financial Board member annual cash retainer: $40,000; stock retainer: $75,000 (fully vested at grant).
- Compensation Committee member cash retainer: $3,000.
- All stock awards to directors were fully vested on grant date.
Performance Compensation (Director)
- No performance-based metrics apply to non-employee director pay; director equity grants were fully vested on grant date (i.e., not at-risk to performance).
| Performance metrics tied to director pay | Status |
|---|---|
| Revenue/EBITDA/EPS/TSR or ESG conditions on director equity | None (fully vested grants) |
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Barnes.
- Other boards: USA Basketball (director); NBA Foundation (board Player Representative).
- Banking interlock: Served on the board of First National Bank (Ames, IA), a subsidiary of public company Ames National Corporation (NASDAQ: ATLO).
- Related-party transactions: The proxy discloses related-party items involving other directors (e.g., HPI Corporate Services linked to a director’s family), but none involving Barnes. Routine related-party banking transactions are reviewed under policy; no specific Barnes transactions disclosed.
Expertise & Qualifications
- Board skill matrix attributes for Barnes: Banking Experience; Diversity.
- Biography indicates oversight of investments/venture transactions via family office; governance roles in sports organizations; prior bank subsidiary board service.
Equity Ownership
| Holder | Direct/Indirect Common Shares | Shares Issuable Within 60 Days | Shares Subject to Future Vesting | Stock Options Exercisable Within 60 Days | Total Beneficially Owned | % of Common Stock |
|---|---|---|---|---|---|---|
| Harrison B. Barnes | 33,315 (includes 12,750 held by Chadash Holdings, LLC over which he has voting/dispositive control; disclaims beneficial ownership except to extent of pecuniary interest) | — | — | — | 33,315 | * (<1%) |
Stock ownership governance:
- Non-employee director stock ownership guideline: 5x annual cash retainer.
- Compliance status (aggregate): Each director/officer is either in compliance or expected to achieve by the measurement date.
- Hedging and pledging: Directors/officers prohibited from hedging; pledging restricted and not counted toward guidelines; no pledging disclosure for Barnes.
Governance Assessment
- Strengths
- Independent director on the Compensation Committee; committee comprised solely of independent directors and met 4 times in 2024.
- Robust ownership alignment framework (5x retainer guideline), prohibition on hedging, and restricted pledging increase investor alignment; director equity grants are made as stock retainers.
- Attendance standard met (≥75%); board and committee cadence suggests active oversight in 2024 (4 board meetings; 21 committee meetings).
- No related-party or conflict disclosures involving Barnes.
- Watch items / potential risks
- None disclosed specific to Barnes (no pledging, no related-party transactions, no attendance shortfall). Company-wide: say-on-pay support remained high (~95% approval in 2024), indicating positive shareholder sentiment toward compensation governance.