William A. Owens
About William A. Owens
Admiral William A. “Bill” Owens, age 85, has served as an independent director of USBC since May 2018. He is an audit committee financial expert and currently chairs the Compensation Committee; he is independent under NYSE American rules and serves on the Audit Committee as well . Owens’ education includes the U.S. Naval Academy (mathematics), bachelor’s and master’s degrees from Oxford University, and a master’s from George Washington University, with extensive governance credentials and prior recognition as a top U.S. board member .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CenturyLink Telecom (now Lumen) | Chairman | 2009–2017 | Led board during telecom operations transformation |
| AEA Investors (Asia) | Chairman | 2006–2015 | Private equity leadership, governance oversight |
| New York Stock Exchange, Asia | Vice Chairman | Not disclosed | Market infrastructure leadership |
| Teledesic | Vice Chairman, CEO | Not disclosed | Strategic/operator role in satellite telecom |
| Nortel Networks Corporation | CEO | Not disclosed | Corporate turnaround/operations leadership |
| SAIC | President, COO, Vice Chairman | Not disclosed | Technology/services operating leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Red Bison | Executive Chairman | Current | Ongoing executive chair role |
| Wipro Technologies | Director | Not disclosed | Technology services board experience |
| Tethr | Director | Not disclosed | Technology/company directorship |
| Kyrrex | Director | Not disclosed | Fintech/crypto-sector board seat |
Board Governance
- Committees: Compensation Committee Chair; Audit Committee member; not listed on Nominating & Corporate Governance Committee .
- Independence: Board deems Owens independent; Audit Committee members are independent; Compensation Committee members are independent .
- Expertise: Owens is designated an “audit committee financial expert” per Item 407(d)(5) of Regulation S-K .
- Meetings and attendance: Board met 3 times (acted by consent 13 times); each director attended ≥75% of board and committee meetings; all directors attended the 2024 annual meeting .
- Controlled company risk: USBC is a “controlled company” (Goldeneye 1995 LLC, solely owned/managed by CEO Robert Gregory Kidd, holds ~93.1% voting power) and may elect not to fully comply with certain NYSE governance requirements; nominating committee is not entirely independent. This reduces shareholder governance protections vs non-controlled peers .
Fixed Compensation
Director compensation for FY ended September 30, 2024:
| Component | Amount (USD) |
|---|---|
| Cash Fees (Annual Retainer) | $10,000 |
| Stock Awards (3,375 shares) | $57,750 |
| Option Awards (grant-date fair value) | $130,321 |
| Total | $198,071 |
Grant detail (as disclosed):
| Instrument | Quantity | Notes |
|---|---|---|
| Common Stock | 3,375 shares | Grant valued at $57,750 |
| Stock Options | 14,488 options | Black-Scholes grant-date FV $130,321 |
| Warrants | 10,000 | Listed in beneficial ownership footnote |
Performance Compensation
- Director compensation is primarily equity-based (stock grants and options) plus a small cash retainer; no performance metrics tied to director pay are disclosed .
- Relevant plan terms (USBC 2021 Equity Incentive Plan): options generally have a max 10-year term; exercise price not less than fair market value on grant date; default vesting schedule of 25% at 12 months then 1/48th monthly thereafter, unless otherwise specified .
| Plan Feature | Term |
|---|---|
| Option Term | Up to 10 years |
| Exercise Price | Not less than fair market value at grant |
| Default Vesting | 25% at month 12; 1/48 monthly to month 48 |
Other Directorships & Interlocks
| Company | Relationship to USBC | Potential Interlock/Conflict |
|---|---|---|
| Red Bison, Lumen (CenturyLink), AEA Investors (Asia), NYSE Asia, Teledesic, Nortel, SAIC, Wipro, Tethr, Kyrrex | No USBC transactions disclosed with these entities | No related-party transactions involving Owens disclosed; RPTs disclosed involve Goldeneye/Kidd and director Cronin’s ipCapital Group fees |
Expertise & Qualifications
- Financial/governance expertise; designated audit committee financial expert .
- Extensive public-company board experience and corporate governance skills .
- Education: U.S. Naval Academy (mathematics), Oxford (BA/MA), George Washington University (Master’s) .
- Recognition: Named among “100 Best Board Members” (2011, 2016) and “50 Most Powerful People in Networking” .
Equity Ownership
| Item | Amount |
|---|---|
| Shares Beneficially Owned (direct) | 48,692 |
| Warrants (exercisable within 60 days) | 10,000 |
| % of Shares Outstanding | ~0.013% (48,692 ÷ 384,234,130) |
| Shares Outstanding (as of Aug 18, 2025) | 384,234,130 |
| Options disclosed in director comp footnote | 14,488 |
Insider trades (Form 4 – most current data):
| Filing Date | Transaction Date | Type | Security | Quantity | Price | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-07 | 2025-05-05 | Award (A) | Common Stock | 25,000 | $0.44 | 48,692 | |
| 2024-02-09 | 2024-02-08 | Award (A) | Common Stock | 100,000 | $0.49 | 947,703 | |
| 2024-02-09 | 2024-02-08 | Award (A) | Option to Purchase Common Stock | 500,000 | $0.49 | 500,000 (derivative) |
Note: Post-transaction holdings reflect Form 4 disclosures; subsequent corporate actions (e.g., reverse splits or exchanges) can affect later reported beneficial ownership (proxy shows 48,692 shares and 10,000 warrants) .
Governance Assessment
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Strengths:
- Independent director with deep governance and financial credentials; designated audit committee financial expert .
- Active governance roles: Compensation Committee Chair and Audit Committee member; both committees met 4 times in the last fiscal year, indicating engagement .
- Attendance at least 75% across board/committee meetings; board met 3 times and acted by consent 13 times; directors attended the 2024 annual meeting .
-
Risks and potential conflicts:
- RED FLAG: Controlled company status (Goldeneye/Kidd ~93.1% voting power) reduces NYSE governance safeguards; nominating committee not fully independent .
- CEO participates in Compensation Committee meetings and provides recommendations on executive pay (does not deliberate on his own compensation), which can create influence risk; mitigated by Owens’ chair role and committee independence .
- Director compensation heavily equity-based with low cash retainer; while equity can align incentives, Owens’ direct ownership is small vs outstanding shares (~0.013%), potentially limiting “skin-in-the-game” alignment relative to the float .
-
Related-party transactions:
- No RPTs disclosed involving Owens; board-level RPTs include Goldeneye private placement and payments to director Cronin’s firm (ipCapital Group), underscoring broader governance risk vigilance .
Overall, Owens’ independence, committee leadership, and financial expertise bolster board effectiveness; however, controlled company dynamics and CEO involvement in compensation processes warrant enhanced scrutiny by investors for alignment and governance safeguards .