Peter Lapaseotes

About Peter C. Lapaseotes

Peter C. Lapaseotes (age 66) is a third‑generation farmer/feeder agri‑businessman from Bridgeport, Nebraska with over 40 years of operating experience across irrigated farming, cow‑calf and finishing feedyards; he has served on the WFCF Board since May 2016 and is an independent director, currently serving on the Compensation and Nominating & Corporate Governance Committees . He co‑owns and operates Lapaseotes LTD, CPN Farms and Greenwood Ranch, is a shareholder in 21st Century Equipment (John Deere dealership), 21st Century Water Technology, Dinklage Feedyards and Western States Bank, and sits on several boards including Dinklage Feedyards (President), the Greek Orthodox Church and North Platte Natural Resource District .

Past Roles

External Roles

Board Governance

• Independence: WFCF’s Board determined Lapaseotes is independent under SEC/Nasdaq rules, including for audit, compensation and nominating functions .
• Committee assignments:
  • Compensation Committee: Member
  • Nominating & Corporate Governance Committee: Member
• Meeting attendance: In 2024 the Board held one formal and one telephonic meeting; all incumbent directors attended at least 75% of aggregate Board and committee meetings (Audit Committee had five meetings in 2023; Compensation two; Nominating one) .
• Board term: Directors elected annually; Lapaseotes is nominated for re‑election among six nominees .

Fixed Compensation

Performance Compensation

Other Directorships & Interlocks

Expertise & Qualifications

• Deep operating expertise across farming, cow‑calf and finishing feedyards; 40+ years in agri‑business .
• Exposure to equipment (John Deere dealership), water technology, and banking through shareholdings—useful for supply chain and capital insights .
• Brings industry and finance/operations perspective relevant to WFCF’s verification ecosystem .

Equity Ownership

• Options outstanding at 12/31/2024: 1,750 for Lapaseotes (director options; exercise/term details not disclosed) .
• Hedging/pledging: Company insider trading policy discourages pledging and derivatives; no specific pledging disclosures for Lapaseotes .

Governance Assessment

• Strengths:
  • Independent director with material agri‑business domain expertise; sits on Compensation and Nominating & Governance Committees, enhancing board effectiveness in pay/governance oversight .
  • Attendance at least 75% across Board/committee meetings, supporting engagement .
  • Ownership alignment: 3.4% beneficial stake plus modest annual equity grant; meaningful “skin‑in‑the‑game” relative to micro‑cap context .
  • Director compensation structure emphasizes meeting‑based cash fees with modest equity; 2026 Equity Plan includes clawback and anti‑repricing safeguards, and caps for director cash ($400k/year) and equity (≤50,000 shares/year) .
• Watch items/RED FLAGS to monitor:
  • Potential conflicts: significant roles/shareholdings across cattle feeding and agri supply chain could intersect with WFCF customer base; while no related‑party transactions involving Lapaseotes are disclosed, ongoing monitoring of any transactions and committee review procedures is prudent .
  • Board structure: Combined Chair/CEO and spousal co‑founders on Board; independent directors meet in executive session and all other directors are independent, but leadership concentration remains a governance consideration .
  • Liquidity/ownership concentration: Insiders/Board collectively own ~50%+; may influence outcomes and reduce float—relevant for investor confidence and governance balance .

Appendix: Committee Snapshot