Anthony Soave
TITAN INTERNATIONALAbout Anthony L. Soave
Anthony L. Soave (age 85) has served as a director of Titan International, Inc. since 1994 and is classified as an independent director under NYSE standards . He is President/CEO and founder of Soave Enterprises LLC (1998–present), and previously founded and led City Management Corporation (1974–1998) and served as Chairman & CEO of Ferrous Processing and Trading Company (1997–2021) . His core credentials are in sales, distribution, and leadership across diversified businesses .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Soave Enterprises LLC | President & CEO; Founder | 1998–present | Operational and distribution leadership; diversified business oversight |
| City Management Corporation | President & CEO; Founder | 1974–1998 | Built business from inception; distribution and sales experience |
| Ferrous Processing and Trading Company | Chairman & CEO | 1997–2021 | Metals recycling leadership; operational scale-up |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Soave Enterprises LLC (private) | President & CEO | 1998–present | Private company based in Detroit |
| Ferrous Processing & Trading Co. (private) | Chairman & CEO | 1997–2021 | Private company; metals recycling |
No other current public company directorships disclosed for Mr. Soave .
Board Governance
- Independence: Board determined Mr. Soave is independent; six of eight directors are independent .
- Committee assignments: Member, Compensation Committee (committee chaired by Richard M. Cashin Jr.) .
- Attendance: All directors attended ≥75% of Board/committee meetings; directors also attended the 2024 Annual Meeting .
- Meetings held (2024): Board (5), Audit (5), Compensation (1), Nominating (1), Corporate Governance (1) .
- Audit Committee financial expert: Laura K. Thompson; membership included Cashin (Chair), Guinn, Thompson (Soave not on Audit) .
- Governance policies: Insider trading policy prohibits hedging and pledging of Company stock; directors meet in executive sessions without management .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual Board Cash Retainer | $90,000 | Directors may elect RSUs in lieu of cash |
| Annual Director RSU Grant | ~$90,000 value; 12,088 RSUs | Granted June 13, 2024; vests June 13, 2025 |
| RSUs for Retainer (if elected) | ~$90,000 value; 12,089 RSUs | Mr. Soave elected RSUs for retainer in 2024; vests June 13, 2025 |
| Chairman of the Board Fee | $90,000 | Not applicable to Soave |
| Audit Chair Fee | $22,500 | Not applicable to Soave |
| Other Committee Chair Fee | $15,000 | Not applicable to Soave |
| Audit Committee Financial Expert Fee | $7,500 | Not applicable to Soave |
| 2024 Cash Paid to Soave | $0 | Elected equity in lieu of cash |
| 2024 Stock Awards to Soave | $180,000 | Aggregate grant date fair value |
Director compensation is predominantly a mix of cash retainer and equity; Mr. Soave elected to take his retainer entirely in RSUs in 2024 (alignment signal) .
Performance Compensation
Director equity is service-vested only; no performance-conditional director pay disclosed.
| Equity Award | Grant Date | Units | Vesting | Fair Value Method |
|---|---|---|---|---|
| Annual RSUs | 2024-06-13 | 12,088 | Vests 2025-06-13 | Closing price $7.45; ASC 718 |
| RSUs in Lieu of Cash Retainer | 2024-06-13 | 12,089 | Vests 2025-06-13 | Closing price $7.45; ASC 718 |
No director performance metrics (TSR/EBITDA, etc.) tied to director awards were disclosed; awards are service-based .
Other Directorships & Interlocks
| Company | Role | Interlock/Notes |
|---|---|---|
| None disclosed (public) | — | Mr. Soave served on Titan’s Compensation Committee alongside Cashin, Guinn, Marvin, and Rachesky; none were officers of Titan in 2024 . |
A related-party transaction in 2024 involved repurchase of shares from MHR Funds (affiliated with Director Mark H. Rachesky); Soave not referenced in that transaction .
Expertise & Qualifications
- Sales and distribution leadership; entrepreneurial business building across real estate development, environmental/industrial services, agriculture, and automotive retailing .
- Long-tenured Board experience at Titan (since 1994), contributing operational and distribution insights .
Equity Ownership
| Metric | Value | Detail/Notes |
|---|---|---|
| Beneficial Ownership (shares) | 1,233,843 | Includes 5,000 shares by Brambleton Investments LLC (indirect); Soave disclaims beneficial ownership beyond pecuniary interest |
| Ownership (% of outstanding) | 1.9% | Based on 63,704,208 shares outstanding (record date) |
| Options (exercisable within 60 days) | 80,000 | Director stock options outstanding |
| Unvested RSUs (12/31/2024) | 24,177 | As of year-end 2024 |
| Stock Ownership Guideline Compliance | In compliance | Directors must hold ≥5× annual cash retainer within 5 years; all directors in compliance as of 12/31/2024 |
| Hedging/Pledging | Prohibited | Insider trading policy bans hedging and pledging of Company shares |
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Shares Transacted | Price | Post-Transaction Ownership | Security | Source |
|---|---|---|---|---|---|---|---|
| 2025-06-18 | 2025-06-16 | Award (A) | 19,780 | $0.00 | 1,168,623 | Common stock | https://www.sec.gov/Archives/edgar/data/899751/000089975125000058/0000899751-25-000058-index.htm |
| 2024-06-17 | 2024-06-13 | Award (A) | 24,177 | $0.00 | 1,148,843 | Common stock | https://www.sec.gov/Archives/edgar/data/899751/000089975124000074/0000899751-24-000074-index.htm |
Data reflect RSU grants to Mr. Soave and his post-transaction beneficial ownership positions (director-level awards) returned by the insider-trades tool.
Governance Assessment
- Independence and committee service: Independent director serving on the Compensation Committee; not an officer; compensation committee composed entirely of independent directors .
- Alignment: Elected to receive the cash retainer in RSUs; holds options and unvested RSUs; in compliance with director ownership guidelines; hedging/pledging prohibited—positive alignment signals .
- Engagement: Attended at least 75% of Board/committee meetings; Board held five meetings in 2024; directors attended the 2024 Annual Meeting .
- Potential conflicts: No related-party transactions disclosed for Mr. Soave; note 2024 MHR share repurchase (Rachesky-affiliated) was approved with recusals; no Soave involvement flagged .
- Board refresh risk indicators: Very long tenure (since 1994) and age (85) are factual inputs investors may weigh in board refresh considerations .
RED FLAGS
- None disclosed specific to Mr. Soave regarding related-party transactions, hedging/pledging, or attendance shortfalls .
- Factual considerations: age 85 and 31-year tenure (since 1994) may be relevant to board refresh discussions .