Craig Levra
About Craig L. Levra
Craig L. Levra (age 66) has served on Virco’s Board since 2016 (Class I; current term expires in 2026). He is a seasoned operator with technology and ecommerce expertise; Founding Member of GoodwillFinds.com and EVP–COO of Goodwill Southern California. He holds a bachelor’s and MBA from the University of Kansas and a Certificate in Public Company Governance from UC Irvine .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sport Chalet, Inc. (public specialty sports retailer) | Chairman & CEO | 2001–2014; led company since 1997 | Led public-company operations and strategy; sale to PE in 2014 |
| Gear Coop, Inc. | President | 2018 | Led ecommerce and Amazon brand management initiatives |
| HQ Office Supplies Warehouse | Furniture Merchandising Lead | Early career | Virco client experience; category merchandising |
External Roles
| Organization | Role | Tenure/Scope | Notes |
|---|---|---|---|
| Goodwill Southern California | EVP – Chief Operating Officer | Current; largest Goodwill entity with 130 stores, donation centers, DCs and ecommerce (2025) | Significant operating earnings generation tied to mission |
| GoodwillFinds.com | Founding Member | Current | Social enterprise re-commerce technology and marketplace |
| Los Angeles Sports & Entertainment Commission | Board of Directors – Executive Committee | Current | Civic/industry engagement |
| Open 4 Sale Technologies; Gameday in the USA | Board/Strategic Advisor (private) | Current | Advisory roles in retail/sports businesses |
Board Governance
- Independence: The Board determined Levra is independent under NASDAQ rules; a majority of the Board is independent .
- Committee assignments: Audit Committee member; Compensation Committee member; Chair of Corporate Governance & Nominating Committee .
- Attendance and engagement: Each incumbent director attended at least 75% of Board/committee meetings in fiscal 2025; Board held 7 meetings; all directors then in office attended the 2024 Annual Meeting . In fiscal 2024, Board held 8 meetings; at least 75% attendance and all directors then in office attended the 2023 Annual Meeting .
- Committee activity: Audit (5 meetings FY2025); Compensation (2 meetings FY2025); Corporate Governance & Nominating (3 meetings FY2025) .
- Lead independent director: Role rotates; currently Robert R. Lind serves as LID (signals independent oversight) .
- Ethics and trading restrictions: Directors/officers prohibited from short sales, pledging/margining, and hedging; trading limited to windows .
Fixed Compensation
- Structure: Non-employee directors receive an annual retainer of $150,000 comprised of $75,000 cash (monthly) and $75,000 in restricted common stock with one-year vesting; directors who meet ownership guidelines may elect to receive all or a portion in cash .
| Fiscal Year | Cash ($) | Stock ($) | Total ($) | Notes |
|---|---|---|---|---|
| FY2025 (ended Jan 31, 2025) | 75,000 | 75,000 | 150,000 | Structure consistent with policy; one-year vesting on grant date (Annual Meeting) |
| FY2024 (ended Jan 31, 2024) | 106,250 | 75,000 | 181,250 | Mix/amount varied vs policy disclosure; company permits cash elections subject to guidelines |
- Ownership guidelines: Minimum director stock ownership equal to at least 4x the annualized cash retainer; measured at fiscal year-end .
Performance Compensation
- Equity award design for directors: Annual restricted stock grants to non-employee directors; typically granted on the date of the Annual Meeting, based on the closing price; vest over one year; company does not time awards around MNPI disclosure .
| Grant Year | Grant Date | Instrument | Fair Value ($) | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| 2025 | June 17, 2025 (Annual Meeting) | Restricted Common Stock | 75,000 | One-year cliff vest | None disclosed (no PSU metrics) |
| 2024 | June 18, 2024 (Annual Meeting) | Restricted Common Stock | 75,000 | One-year cliff vest | None disclosed |
- Change-in-control: Awards under the 2019 Omnibus Equity Incentive Plan may be subject to acceleration upon a “Change of Control” (plan-defined) .
- Options: Company has not made stock option awards since 2019 and has no current plans to award options; director equity is restricted stock .
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | None disclosed for Levra in Virco proxy biographies |
| Private/civic boards | LA Sports & Entertainment Commission; advisor to private companies (see External Roles) |
| Interlocks/conflicts | None disclosed; related-party transactions section does not list Levra |
Expertise & Qualifications
- Operations, ecommerce, and technology leadership; multi-unit retail operations and supply chain .
- Public-company governance credentials (UCI Certificate); prior public-company CEO experience (Sport Chalet) .
- Academic credentials: Bachelor’s and MBA (University of Kansas) .
Equity Ownership
| As-of Date | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| April 22, 2025 | 110,623 | Less than 1% | Company had 16,087,082 shares outstanding at record date |
| April 23, 2024 | 106,503 | Less than 1% | Company had 16,347,314 shares outstanding at record date |
- Pledging/hedging: Prohibited under Insider Trading Compliance Policy; trading restricted to windows .
- Vested/unvested details for director holdings: Not individually disclosed; group table includes some 401(k)/equity components but no individual breakdowns for Levra .
Governance Assessment
- Positives: Independent director; chairs Corporate Governance & Nominating; sits on Audit and Compensation Committees; adheres to anti-hedging/pledging policy; consistent director equity grants align pay with shareholder value; attendance standards met; independent directors hold executive sessions .
- Alignment: Holds 110,623 shares (<1%); subject to 4x cash retainer ownership guideline; annual equity grants with one-year vesting support alignment .
- Potential risks/red flags: Family ownership concentration (Virtue family aggregates ~29.73% of shares), which can influence governance dynamics; however Board maintains majority independence and rotating Lead Independent Director .
- Related-party exposure: None disclosed for Levra; related-party transactions involve Virtue family and certain executives; reviewed/ratified per policy .
Overall, Craig Levra presents as an engaged, independent director with substantial operating and ecommerce expertise, leading the governance committee and participating in key oversight committees. Compensation and trading policies indicate alignment with shareholder interests, and no conflicts or attendance issues are disclosed .