David Williams III
About David Williams III
Independent director since July 2020; age 52. Serial healthcare-tech entrepreneur and current co‑founder/CEO of Care3; prior roles include Co‑Founder/CEO of InvolveCare (funded by Aetna) and founding executive at PatientsLikeMe (acquired by UnitedHealth Group). Education: BS in Economics and Entrepreneurial Management (Wharton) and MBA in Digital Strategy with a certificate in Corporate Governance (UCLA Anderson); Henry Crown Fellow, Aspen Institute and member, Aspen Global Leadership Network .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Care3 | Co‑Founder & CEO | Current (dates not disclosed) | Digital health equity solutions for plans/providers |
| InvolveCare | Co‑Founder & CEO | Prior to Care3 (dates not disclosed) | Consumer/caregiver engagement; funded by Aetna |
| PatientsLikeMe | Founding Executive | Prior (dates not disclosed) | Patient community and outcomes; later acquired by UnitedHealth Group |
| Eli Lilly and Company | Corporate roles | Prior (dates not disclosed) | Large-cap biopharma experience |
| Deloitte | Corporate roles | Prior (dates not disclosed) | Consulting/operations rigor |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Lifespace Communities, Inc. | Director | Private | Senior living company with 14 locations in seven states |
| Aspen Institute (Henry Crown Fellowship) | Fellow; AGLN Member | Non-profit | Leadership network affiliation |
Board Governance
- Independence: Board determined Williams is independent under Nasdaq Rule 5605; 8 of 9 directors are independent .
- Committee assignments: Compensation Committee (members: Belinfanti, Coppens, Williams, Weaver); Corporate Compliance & Governance Committee (members: Belinfanti, Connors, Lundberg [Chair], Williams, Weaver) .
- Chair roles: Received prorated chair fees for service as Compliance Committee Chair during 2024; committee leadership subsequently consolidated under the Corporate Compliance & Governance Committee (Chair: Lundberg) .
- Attendance/engagement: Board met nine times in 2024; no incumbent director attended fewer than 75% of board and applicable committee meetings; six incumbent directors attended the prior year’s annual meeting (attendance encouraged) .
- Structure/risk oversight: Separate Chair (Dale Wolf) and CEO (Suzanne Foster); Lead Independent Director role authorized if Chair is not independent; committees oversee financial reporting, compensation risk, and ESG/compliance .
Fixed Compensation (Director)
| Component (2024) | Amount ($) | Detail |
|---|---|---|
| Annual cash retainer | 100,000 | Non‑employee director retainer |
| Committee chair fees | 8,333 | Prorated chair fees for Compliance Committee in 2024 |
| Committee membership fees (total) | 18,334 | Service on committees; standard rates $10k per committee; audit membership $20k (not applicable to Williams) |
| Total cash fees | 126,667 | Sum of cash components |
| Equity grant (restricted stock) | 158,791 | 15,629 restricted shares; vests at 2025 annual meeting |
| Total compensation | 285,458 | Cash + equity |
Performance Compensation
- No performance-vested director compensation disclosed; annual director equity grants are time-based restricted stock vesting at the next annual meeting .
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Note |
|---|---|---|
| Lifespace Communities, Inc. (private) | Director | No related-party transactions with AHCO disclosed |
Expertise & Qualifications
- Digital health, patient engagement, and healthcare services entrepreneurship; prior corporate experience at Eli Lilly and Deloitte .
- Governance credentials via UCLA Anderson corporate governance certificate; independent committee service across compensation and governance/compliance .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (shares) | 36,899 (less than 1%) |
| 2024 director equity grant | 15,629 restricted shares (vest at 2025 annual meeting) |
Insider Trades & Compliance
| Year | Item | Note |
|---|---|---|
| 2024 | Section 16(a) | Late on one Form 4 filing; company notes overall compliance monitoring |
Governance Assessment
- Strengths: Independent status; multi-committee engagement (Compensation; Corporate Compliance & Governance); robust company policies (clawback compliant with Nasdaq; prohibition on hedging/pledging; stock ownership guidelines for executives) enhance alignment and risk management .
- Compensation alignment: Director pay is balanced between cash and equity, with service‑based vesting fostering ownership alignment; 2024 cash $126,667 and equity grant $158,791 for Williams .
- Board reforms: Declassification by 2026; proxy access; resignation policy for directors with more “withheld” than “for” votes; no single‑trigger vesting for future officer contracts—positive governance signal post settlement .
- Engagement: Attendance thresholds met; separate Chair/CEO structure; committee oversight spans audit, compensation risk, and ESG/compliance .
- RED FLAGS / Watchpoints: Late Form 4 in 2024 (minor compliance lapse) ; beneficial ownership is under 1% (typical for directors but monitor ownership alignment over time) .
- Conflicts: No related‑party transactions involving Williams disclosed; Audit Committee pre‑approves related‑party transactions per policy .
- Shareholder sentiment: 2024 say‑on‑pay support at 96.8% indicates broad investor confidence in compensation governance (context for board oversight) .