Emily Peterson Alva

About Emily Peterson Alva

Independent director at Amneal Pharmaceuticals (AMRX). Age 50 as of March 14, 2025; former Lazard M&A partner (1997–2013) and strategic advisor to Constellis (2021–2024); B.A. in Economics from Barnard College, Columbia University. Also serves on the board of Alkermes plc; nonprofit board member of the Mission Society of New York City; prior private board roles at Robotic Research (now Forterra) and Atlanta Life Insurance Company. The Board has affirmatively determined she is independent under Nasdaq rules.

Past Roles

External Roles

Board Governance

• Independence and controlled company context: AMRX is a “controlled company,” yet the Board has a majority of independent directors and all committees are fully independent; Alva is independent.
• Board leadership: Independent Chairman, Paul Meister, presides over executive sessions of independent directors.
• Committees and attendance:
  • Audit Committee member; Audit Committee chaired by John Kiely.
  • 2024 meetings held: Board (7). Each director attended at least 75% of Board and relevant committee meetings; all directors attended the 2024 annual meeting.
  • Committee meeting counts in 2024: Audit (4), Compensation (6), Nominating & Corporate Governance (4), Conflicts (10).
• Committee chair roles (context): Audit (John Kiely, Chair), Compensation (Ted Nark, Chair), Nominating & Corporate Governance (Paul Meister, Chair), Conflicts (J. Kevin Buchi, Chair).

Fixed Compensation

• Director compensation program (2024): $75,000 annual cash retainer; annual RSU grant target value $250,000 ($350,000 for Chairman); 1-year cliff vesting. Committee fees: Audit ($25k Chair/$15k Member), Compensation ($20k/$10k), Nominating & Corporate Governance ($15k/$7.5k), Conflicts ($25k/$15k). Additional per-meeting stipend kicks in above six meetings per committee (1/6 of committee stipend per extra meeting).

2023 director equity fair values were depressed because the grant price used a 2022 12‑month average ($3.27) instead of the then-current closing price ($1.86), yielding ~57% of target; AMRX reverted to using the closing price for 2024 grants.

Performance Compensation

• Directors receive time-based RSUs (no disclosed performance metrics); AMRX states it does not currently grant new stock options or similar option-like awards (context: program design). RSUs vest on a 1-year cliff.

Other Directorships & Interlocks

• Current public company board: Alkermes plc (biopharma).
• Historical potential interlock consideration: In 2024, the Board considered that Alva’s spouse was formerly employed by Avtar Investments, LLC, which manages investments for AMRX Co-CEOs Chirag and Chintu Patel; the spouse is no longer affiliated with Avtar. The Board determined this did not constitute a material relationship and affirmed independence.

Expertise & Qualifications

• M&A, complex transactions and corporate development; capital structure, corporate finance and capital allocation; strategy and corporate governance.

Equity Ownership

• Director stock ownership guidelines: Non-employee directors must hold stock equal to 3x annual cash retainer, to be met within five years of appointment/election; includes RSUs in counting but excludes unexercised options and unearned performance awards. Company states directors have achieved or are progressing toward compliance. Anti-hedging policy in place; non-Amneal Group directors/executives are prohibited from pledging company stock as collateral.

Insider Trades (AMRX)

Related-Party Exposure and Conflicts Oversight

• Conflicts Committee (all independent directors) reviews, approves or ratifies related party transactions; policy outlines approval criteria (arm’s‑length terms, materiality, impairment of judgment).
• AMRX discloses significant related‑party transactions involving entities affiliated with the Co‑CEOs (e.g., Kanan LLC leases ~$2.4m rent in 2024; Kashiv Biosciences balances outstanding), which are overseen under the Conflicts framework (context for board conflicts oversight; not tied to Alva individually).

Governance Assessment

• Strengths:

  • Independent director with deep M&A/capital markets expertise; serves on Audit Committee, supporting financial reporting and risk oversight.
  • Board majority independent with independent Chairman; robust conflicts review process; committees fully independent.
  • Attendance acceptable (>=75% in 2024) and full director participation at annual meeting.
  • Director compensation mix skews to equity via RSUs, aligning interests; clear ownership guidelines and anti-hedging/anti-pledging policies.

• Watch items / potential red flags:

  • Historical relationship considered in independence review: spouse’s prior employment at Avtar (advisor to Co‑CEOs’ investments); resolved, spouse no longer affiliated; independence affirmed.
  • March 2025 discretionary open-market sale of 80,000 shares (~$712k); not necessarily a governance issue, but investors may monitor trading cadence versus guideline compliance and committee responsibilities.

• Overall: Alva adds meaningful transaction and strategy expertise; independence affirmed; active on Audit Committee; compensation and ownership structures are broadly aligned with shareholder interests. Controlled company status increases the salience of the Conflicts Committee’s role; current disclosures indicate independent oversight is in place.