Kieran Brennan
About Kieran Brennan
Kieran P. Brennan, age 64, is Senior Vice President – Business Development at TSS, Inc.; he joined TSS on January 22, 2018 as SVP Sales & Marketing and was promoted effective October 1, 2022. He holds a Bachelor of Science (Finance) from California State University, Long Beach, and previously held senior sales and business development roles at Neovia Logistics and Syncreon, among others . Company performance during his recent tenure saw strong equity-holder gains: cumulative TSR rose ~3,833% from 2023 to 2024 (a $100 investment at 12/31/2021 was $2,045 at 12/31/2024), and net income increased ~7,976% year-over-year in 2024, aligning management equity value with shareholders .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Neovia Logistics Services, LLC | Director of Sales – Technology | 2013–Jan 2018 | Led commercial growth in technology logistics solutions across a global 3PL footprint . |
| Syncreon, Inc. | Director, North America Business Development | 2010–2013 | Built pipeline and customer relationships for global contract logistics services . |
| Stream Global Services; Solectron; Modus Media; Cap Gemini; Ernst & Young | Senior sales/business development leadership positions | Not disclosed | Business development and sales leadership across IT services and manufacturing/logistics ecosystems . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in company filings | — | — | No external board or governance roles disclosed for Brennan . |
Fixed Compensation
| Metric | 2021 | 2022 |
|---|---|---|
| Base Salary ($) | $250,000 | $250,000 |
| Bonus ($) | $0 | $77,000 |
| Stock Awards ($ grant-date fair value) | — | — |
| Other Compensation ($) | — | — |
| Total ($) | $250,000 | $327,000 |
Notes:
- Employment agreement sets Brennan’s annual base salary at $250,000 and makes him bonus-eligible at Board discretion .
- Company added 401(k) matching in 2024 (50% up to 6% of pay) on the same terms for executives as broader employees, modestly improving total compensation value .
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual cash bonus | Not disclosed | — | Not disclosed | Not disclosed | Not disclosed | Annual (Board discretion) |
| Equity awards (RS/Options) | Company/individual performance (plan-enabled) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | As specified in award agreements; CI accelerates vesting for awards per plan |
Notes:
- TSS’s incentive plans permit performance shares/units and restricted stock with committee-set goals; awards accelerate upon Change in Control under the 2025 Omnibus Plan .
- Brennan’s specific performance metrics/weights/targets are not disclosed in proxies; his bonus is set at Board discretion .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (as of 4/28/2023) | 742,425 shares (3.41% of outstanding) . |
| Vested vs. unvested shares | Includes 100,000 restricted shares subject to forfeiture (unvested) . |
| Options outstanding | 250,000 options (exercisable within 60 days of record date); strike $0.49; expiration 1/22/2028; vesting 83,333 per year over three years from 1/22/2018; CI immediate exercisability per employment agreement . |
| Ownership guidelines / pledging | No executive stock ownership guidelines or pledging practices disclosed for Brennan; no pledging noted in filings . |
| Change-in-control treatment | Under the 2025 plan, all equity awards accelerate on CI; Brennan’s 2018 options become immediately exercisable on CI per his agreement . |
Employment Terms
- Title and tenure: Senior Vice President – Business Development since October 1, 2022; joined TSS January 22, 2018 (SVP Sales & Marketing) .
- Base salary: $250,000; bonus eligibility at Board discretion .
- Severance: If terminated without Cause or resigns for Good Reason, continued base salary for 6 months; increases to 12 months if termination occurs within 12 months following a Change in Control .
- Equity treatment on CI: Awards under company plans accelerate; his 2018 option award becomes immediately exercisable on CI per agreement .
- Clawback: Awards subject to company recoupment/clawback policies under the 2025 Omnibus Plan .
Investment Implications
- Alignment and upside: Brennan’s meaningful equity exposure (3.41% ownership as of 2023 plus 250,000 options expiring in 2028) ties his incentives to TSR and profitability improvements; equity award CI acceleration is standard but can create windfall optics if a transaction occurs .
- Cash vs equity mix: His compensation historically leaned cash-heavy with variable bonus (e.g., $77,000 in 2022), with prior option awards providing long-dated upside; lack of disclosed performance weighting/targets limits pay-for-performance transparency .
- Retention risk: Contractual severance (6–12 months) and equity value suggest stable retention; CI-related immediate exercisability and plan-wide acceleration reduce forfeiture risk in a sale scenario .
- Trading signals: Monitor future Form 4 filings for option exercises and RS vesting; his 2018 option expiration (1/22/2028) is a potential catalyst for timing-related sales, and company-wide equity acceleration on CI would be a transactional overhang to model .