Therese Bassett
About Therese M. Bassett
Independent director of Wabash National Corporation (WNC), age 61, serving since November 2019. Managing Director of NuVentures LLC; previously Chief Strategy, Innovation, and M&A Officer at Avnet, Inc. and held multiple senior roles across strategy and HR. Education: Temple University (undergraduate) and MBA from University of Phoenix. Core credentials: M&A, innovation, strategy, and business transformation in digitally enabled industries .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Avnet, Inc. | Chief Strategy, Innovation, and M&A Officer | Not disclosed | Led portfolio growth, financial strength, and market value initiatives |
| Avnet, Inc. | SVP, Global HR Solutions | 2010–2016 | Senior HR leadership |
| Avnet, Inc. | VP, Strategic Planning & Business Intelligence | 1998–2010 | Corporate strategy and BI |
| Avnet, Inc. | Manager, EMS Business Development | 1995–1998 | Business development in electronics manufacturing services |
| Avnet, Inc. | International Export & Transportation Manager | 1993–1995 | International logistics/export management |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NuVentures LLC | Managing Director | Not disclosed | Strategy, innovation, M&A pipeline development consulting |
| Other public company boards | None | — | No public board interlocks disclosed |
Board Governance
- Independence: Board determined she is independent under NYSE rules; 8 of 9 nominees are independent .
- Attendance: In 2024, all directors attended at least 75% of Board/committee meetings; Board held 5 meetings; all serving directors attended the Annual Meeting .
- Committee memberships (as of Dec 31, 2024): Member of Nominating, Corporate Governance & Sustainability; Audit; and Finance .
| Committee | Role | 2024 Meetings | Chair |
|---|---|---|---|
| Nominating, Corporate Governance & Sustainability | Member | 5 | Ann D. Murtlow |
| Audit Committee | Member | 14 | Scott K. Sorensen; Bassett named in Audit Committee Report |
| Finance Committee | Member | 4 | Stuart A. Taylor II |
Fixed Compensation
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Structure (Board-level retainers and fees): | Year | Board Retainer (Cash) | Board Retainer (RSUs) | Committee Membership Fees (Audit/Comp/NCGS/Finance) | Chair Fees (Board/Audit/Comp/NCGS/Finance) | |---|---|---|---|---| | 2024 | $80,000 | $140,000 (RSUs vest after 1 year) | $10,000 / $8,000 / $8,000 / $8,000 | $100,000 / $20,000 / $15,000 / $15,000 / $15,000 | | 2025 | $80,000 | $150,000 (RSUs vest after 1 year) | $10,000 / $8,000 / $8,000 / $8,000 | $100,000 / $20,000 / $15,000 / $15,000 / $15,000 |
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Actual reported director compensation: | Year | Fees Earned (Cash) | Stock Awards (Fair Value) | All Other | Total | |---|---|---|---|---| | 2024 | $106,000 | $140,015 | $0 | $246,015 | | 2022 | $102,401 | $125,003 | $0 | $227,404 |
Director stock ownership guidelines: must hold 50% of shares received until reaching ownership equal to 5x cash portion of Board retainer; as of Dec 31, 2024, all non-employee directors met or had more time to meet, and those not yet at target were complying with the holding requirement .
Performance Compensation
- Annual equity awards (time-based RSUs; directors do not have performance-based metrics tied to RSUs): | Grant Date | Instrument | Shares Awarded | Fair Value | Vesting | |---|---|---|---|---| | 2024-05-22 | RSUs | 6,307 | $140,015 | Vest on 2025-05-22 | | 2025-05-14 | Award (Form 4 “A-Award”) | 15,448 | $150,000 per 2025 equity retainer (program level) | Time-based; retainer RSUs vest after 1 year |
RSU vesting terms for directors: annual grant vests in full on the first anniversary of grant date .
No option grants, meeting fees, or director-specific bonus metrics disclosed .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Other public company boards | None |
| Related party transactions | No related person transactions requiring disclosure during 2024 |
Expertise & Qualifications
- Skill matrix marks include: Mergers & Acquisitions; Risk Management; Distribution & Digital Marketplace; ESG; Strategy; diversity designation (female) .
- Education: Temple University; MBA University of Phoenix .
- Background: 26-year career at Avnet with leadership across strategy, innovation, HR, and business intelligence .
Equity Ownership
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Beneficial ownership (as of record date March 19, 2025): | Metric | Value | |---|---| | Shares beneficially owned | 39,749 (excludes 6,307 unvested RSUs) | | Percent of class | <1% (“*”) | | Unvested RSUs outstanding at 12/31/2024 | 6,307 |
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Recent Form 4 equity awards (time-based; post-transaction holdings): | Filing Date | Transaction Date | Type | Shares Acquired | Post-Transaction Ownership | Source | |---|---|---|---|---|---| | 2024-05-24 | 2024-05-22 | Award (A) | 6,307 | 46,056 | | | 2025-05-15 | 2025-05-14 | Award (A) | 15,448 | 61,504 | |
Anti-hedging/pledging: Company policy prohibits pledging, short sales, and derivative hedging; applies to directors and covered personnel .
Governance Assessment
- Board effectiveness: Independent director with broad committee exposure (Audit, Finance, Nominating/CG&S) and participation in a highly active Audit Committee (14 meetings in 2024), supporting strong oversight of controls, cybersecurity, and related-party reviews .
- Engagement: Meets attendance thresholds; Board held 5 meetings in 2024; Annual Meeting attendance was universal among serving directors, indicating engagement .
- Alignment: Equity retainer structure and 5x cash retainer ownership guideline drive alignment; directors compliant or within allowed time; Bassett’s beneficial holdings rising via annual RSU awards .
- Conflicts/related-party exposure: No related person transactions requiring disclosure in 2024; no public-board interlocks (reduces potential conflicts and overboarding risk) .
- Compensation signals: Standard cash+RSU program; 2024 and 2025 equity retainer increases (to $140k and $150k, respectively) are modest and consistent with market; caps exist for non-employee director compensation under the 2025 Omnibus Incentive Plan ($750,000/year), limiting pay inflation risk .
RED FLAGS: None disclosed—no related-party transactions, no pledging/hedging allowed by policy, attendance meets thresholds, and compensation structure is conventional for independent directors .