Erez Lorber
About Erez Lorber
Independent director at VPG since August 2024; age 60; technology operator with CEO/COO experience across automotive AI, EV batteries, and enterprise software; undergraduate degree from Temple University and MBA from Tel Aviv University . The Board determined he is independent under NYSE standards; he joined partway through 2024 and met the company’s attendance expectations (each director attended at least 75% of meetings in 2024) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Questar Auto Technologies | Chief Executive Officer | 2020–2023 | Led predictive vehicle health AI strategy |
| StoreDot | Chief Operating Officer | 2015–2020 | Scaled extreme‑fast charging EV battery tech; nanotechnology/AI optimization |
| BackWeb Technologies Ltd. | Chief Executive Officer | Not disclosed | Enterprise software leadership |
| Tri‑Logical Technologies Ltd. | Chief Executive Officer | Not disclosed | Transportation/telematics solutions leadership |
| Deloitte Consulting (Israel) | Chief Executive Officer | Not disclosed | Professional services leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CIPIA (public company) | Director | Current | In‑cabin automotive sensing; adds industry adjacency |
| CopperGate | Director | Prior | Semiconductor/communications; prior board service |
| FlashNetworks | Director | Prior | Mobile optimization; prior board service |
Board Governance
- Independence: Board concluded Lorber qualifies as an independent director (NYSE standard) .
- Committee assignments: No committee service recorded for 2024 (appointed August 15, 2024); Audit, Compensation, and Nominating committees were fully independent and chaired by Reibstein, Clarke, and Talbert, respectively .
- Attendance and engagement: Board met 6 times in 2024; each director attended ≥75% of meetings; directors are expected to attend annual meetings; all eight then‑current directors attended the 2024 annual meeting .
- Executive sessions: Nominating & Corporate Governance chair presides over executive sessions; current chair is Talbert .
Fixed Compensation
| Component | Structure/Amount | Vesting | FY2024 Actual (Lorber) |
|---|---|---|---|
| Cash retainer | $50,000 annual for non‑employee directors; Chairman $110,000; chair fees: Audit $15,000, Compensation $10,000, Nominating $10,000 | Paid quarterly, prorated if mid‑year appointment | $12,785 fees paid (prorated) |
| Equity retainer (RSUs) | $80,000 grant at annual meeting; prorated for mid‑year appointees | Vests on earlier of next annual meeting or May 21, 2025, subject to service | $61,087 grant‑date fair value; vest at 2025 meeting |
Performance Compensation
| Performance‑based components | Metrics | FY2024 Actual |
|---|---|---|
| None disclosed for directors | N/A | No options or PBRSUs for directors; director equity is time‑vested RSUs |
Other Directorships & Interlocks
- Current public company board: CIPIA; no VPG‑reported related‑party transactions with Lorber under Item 404(a) .
- Network/conflict screening: No disclosed business dealings between VPG and entities where Lorber has a financial interest; VPG administers a Related Party Transactions Policy via the Nominating & Corporate Governance Committee .
Expertise & Qualifications
- Deep technology/operator background spanning AI, EV battery fast charging, and enterprise software; board/entrepreneurial experience across Israel and U.S. ecosystems .
- Education: Temple University (undergraduate) and Tel Aviv University (MBA) .
Equity Ownership
| Holder | Common Shares | RSUs scheduled to vest (≤60 days) | Options (exercisable) | Ownership % of class | Notes |
|---|---|---|---|---|---|
| Erez Lorber | 0 | 2,265 | 0 | *<1% | RSUs vest at first annual meeting after grant (May 21, 2025) |
- Hedging/pledging: Company prohibits hedging, short sales, publicly‑traded options, and pledging of VPG securities, reinforcing alignment .
- Section 16 compliance: One late Form 4 for Lorber (administrative error) reported for 2024 .
Governance Assessment
- Strengths: Independent director; no related‑party transactions reported; modest/prorated cash retainer and time‑vested RSUs that vest at the next annual meeting aid alignment; committees are fully independent and governed by robust charters .
- Engagement: Joined mid‑year; Board recorded solid attendance across 2024; directors are expected to attend annual meetings .
- Potential conflicts: Current CIPIA directorship introduces industry adjacency, but VPG disclosed no transactions with Lorber; VPG’s related‑party policy oversight reduces conflict risk .
- RED FLAGS: One late Section 16 filing (administrative error) is minor but noted; monitor future filings and any evolving interlocks in automotive sensing supply chains .
- Watch items: Post‑2025 committee assignments not yet disclosed; track whether Lorber assumes a committee role (Audit/Comp/Nominating) and his meeting attendance in 2025 .