DeMonty Price
WOLVERINE WORLD WIDE INC /DE/About DeMonty Price
DeMonty Price, age 63, joined Wolverine World Wide’s Board in 2023 and serves as an independent director with deep retail operations, supply chain, and brand-building expertise cultivated over 35+ years at RH (Restoration Hardware), Williams‑Sonoma, Nike, and Gap. He holds a BS in Fashion Merchandising from Oregon State University and currently serves on the Compensation and Human Capital Committee; the Board explicitly classifies him as independent under NYSE standards and the company’s Director Independence Standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| RH (Restoration Hardware) | President, Chief Operating, Service and Values Officer | 2017–2022 | Oversaw supply chain, retail stores, outlets, hospitality, HR, distribution, home delivery, customer service, facilities; key role in operational restructuring and workforce implementation . |
| RH (Restoration Hardware) | Co‑President, Chief Operating Services and Values Officer | 2016–2017 | Senior operating leadership across services and values . |
| RH (Restoration Hardware) | Chief Service and Values Officer | 2015–2016 | Led service and values functions . |
| RH (Restoration Hardware) | SVP Retail Galleries & Operations; Chief Values Officer | 2006–2015 | Led retail galleries and operations; brand and operational improvements . |
| RH (Restoration Hardware) | Vice President of Stores / West Regional | 2002–2006 | Field leadership roles . |
| Williams‑Sonoma, Inc. | Northwest District Manager and other field leadership roles | 1999–2002 | Rebuilt underperforming district to top‑performing U.S. stores . |
| Nike, Inc. | Director of P.L.A.Y. | 1997–1999 | Program leadership . |
| Gap, Inc. | District Manager; Manager of Diversity | 1993–1997 | Store operations and diversity management . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company directorships | None | — | Company discloses no other public boards for Price . |
Board Governance
- Independence: The Board determined Price is independent under NYSE and company standards; all committees are composed solely of independent directors .
- Committee membership: Compensation and Human Capital Committee (member; chair is Kathleen Wilson‑Thompson) .
- Committee activity: Compensation and Human Capital Committee met 7 times in 2024; Board met 6 times in 2024. All directors attended the 2024 Annual Meeting and at least 75% of Board and committee meetings for their service period .
- Interlocks/Insider participation: No Compensation Committee interlocks or related‑party relationships requiring Item 404 disclosure in FY2024 .
| Governance Dimension | 2024 Data | Notes |
|---|---|---|
| Board meetings held | 6 | All directors attended at least 75% . |
| Comp & Human Capital Committee meetings | 7 | Oversight of compensation and human capital risks/policies . |
| Independence | Independent | Board committees fully independent . |
| Annual Meeting attendance | All directors attended | 2024 Annual Meeting attendance disclosed . |
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Fees Paid in Cash | $0 | Row shows “—” in Fees Paid in Cash for Price . |
| Cash Amounts Voluntarily Deferred | $92,000 | Deferred under Director Deferred Compensation Plan . |
| Fees Earned or Paid in Cash (Total) | $92,000 | Sum of cash fee deferred . |
| Restricted Stock Unit Awards (Grant‑date fair value) | $145,000 | Granted May 2024; time‑vested RSUs . |
| Total Director Compensation | $237,000 | Cash + RSUs . |
Compensation program structure (2024): Annual Director Fee $80,000 cash; committee fees ($12–$25k); Chairman differs; RSUs grant‑date value $145,000; director RSUs vest one year from grant; directors may defer settlement at vesting .
Performance Compensation
Directors do not receive performance‑based equity; annual grants are time‑vested RSUs that vest one year from grant. No TSR or financial metrics apply to director equity awards .
| Performance Component | Metric(s) | Vesting | Amount |
|---|---|---|---|
| Director RSU grant | None (time‑based only) | 1‑year cliff vest | $145,000 grant‑date fair value (2024) . |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public boards | None for Price . |
| Compensation Committee interlocks | None in FY2024; no related‑party relationships requiring Item 404 disclosure among Compensation Committee members . |
Expertise & Qualifications
- Retail operations, global supply chain, brand building, finance, human capital management, international business; broad public company governance exposure .
- Board skills matrix reflects Price’s contributions across Brand Building, Finance, Global Supply Chain, International Business, Retail, and Public Company Governance .
Equity Ownership
Policies and status:
- Ownership guidelines: Non‑employee directors must attain and maintain stock ownership equal to 6x the annual cash retainer by the first December 31 following the fifth anniversary of becoming a director; includes owned shares and time‑vested RSUs (capped at 50% of requirement); excludes performance units and options. All non‑employee directors were in compliance during 2024 .
- Hedging and pledging prohibited for directors, officers, and employees under Insider Trading Policy .
| Ownership Detail (as of Mar 3, 2025) | Shares/Units | Percent |
|---|---|---|
| Sole voting/investment power (common) | 35,000 | — |
| Shared voting/investment power | — | — |
| Stock options and RSUs vesting within 60 days | 13,315 | — |
| Total beneficial ownership | 48,315 | <1% (*) |
| RSUs outstanding (time‑vested) | 22,830 (includes 9,515 fully vested RSUs that were deferred) | — |
| Option awards outstanding | None | — |
Insider transactions (signals of alignment):
| Transaction Date | Filing Date | Type | Shares | Price | Post‑Txn Ownership | Direct/Indirect | Source |
|---|---|---|---|---|---|---|---|
| 2025‑02‑21 | 2025‑02‑25 | Open‑market purchase | 35,000 | $15.30 | 35,000 | Indirect (“I”) | |
| 2025‑05‑01 | 2025‑05‑05 | RSU award | 11,027 | $0 | 11,027 RSUs | Direct (“D”) | |
| 2025‑08‑08 | 2025‑08‑12 | Open‑market purchase | 15,000 | $27.19 | 50,000 | Indirect (“I”) | |
| 2025‑11‑07 | 2025‑11‑10 | Open‑market purchase | 25,000 | $15.77 | 75,000 | Indirect (“I”) | |
| 2024‑05‑02 | 2024‑05‑06 | RSU award | 13,315 | $0 | 13,315 RSUs | — | |
| 2023‑05‑03 | 2023‑05‑05 | RSU award | 9,515 | $0 | 9,515 RSUs | — | |
| 2023‑03‑14 | 2023‑03‑24 | Initial Form 3 | — | — | — | — |
Governance Assessment
- Committee effectiveness: Price serves on the Compensation and Human Capital Committee, which met 7 times in 2024 and oversees incentive structures, human capital risks, and ESG disclosures coordination. This placement leverages his extensive retail operations and workforce transformation experience and supports Board oversight of pay and talent strategy .
- Independence and attendance: Confirmed independent; attended at least 75% of Board and committee meetings for his service period and attended the Annual Meeting—meeting baseline engagement expectations .
- Compensation alignment: Director pay mix is equity‑leaning (2024 total $237k: $92k cash, $145k RSUs), and Price deferred his entire cash fee ($92k), further aligning with shareholder outcomes. RSUs are time‑vested, avoiding problematic short‑term performance gaming .
- Ownership alignment: Open‑market purchases in 2025 totaling 75,000 shares post‑transactions (Feb, Aug, Nov) are a positive insider signal; plus RSUs outstanding and deferred settlement elections demonstrate ongoing alignment with stock performance [insider Form 4 URLs above] .
- Conflicts and red flags: No related‑party transactions since Dec 31, 2023; Compensation Committee disclosed no interlocks; hedging/pledging prohibited under policy—reducing alignment risks. No director‑specific pledging disclosed, consistent with policy .
- Compensation governance: Use of independent consultant FW Cook; fees $151,039 in 2024 (<1% of FW Cook’s total), indicating limited consultant conflict risk .
RED FLAGS: None disclosed for Price. No related‑party transactions, no compensation interlocks, and hedging/pledging prohibited by policy .