Anthony Meeker
About Anthony Meeker
Anthony Meeker is BBSI’s independent Chairman of the Board. He retired in 2003 as a Managing Director at Victory Capital Management after 10 years in investment management, and previously served as Treasurer of the State of Oregon (1987–1993). Meeker holds a B.A. from Willamette University and brings deep insurance and risk oversight expertise to BBSI; age 86; director since 1993 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Victory Capital Management, Inc. | Managing Director | 10 years; retired 2003 | Investment management leadership; capital markets expertise |
| State of Oregon | Treasurer | 1987–1993 | Oversaw investment of state assets (incl. ~$26B pension fund), debt management, cash management, workers’ comp reserve oversight |
| State Accident Insurance Fund (Oregon) | Oversight of workers’ comp reserve fund | During tenure as Treasurer | Ensured adequate actuarial reserves; risk management |
| First Federal S&L of McMinnville (prior) | Director | Not disclosed | Banking/financial services governance (prior role) |
| Oregon Mutual Insurance (prior) | Director | Not disclosed | Insurance sector governance (prior role) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| MV Advancements (non-profit) | Board member | Current | Supports services for clients with disabilities |
| Oregon State Capitol Foundation (non-profit) | Board member | Current | Civic and historical foundation governance |
Board Governance
- Role: Chairman of the Board; ex officio member of each Board committee where he is not a voting member .
- Committee assignments: Audit and Compliance Committee member; Risk Management Committee member .
- Independence: The Board determined Meeker is independent under Nasdaq Rule 5605(a)(2) .
- Attendance: The Board met seven times in 2024; each director attended at least 93% of Board and applicable committee meetings .
- Board leadership: Chair and CEO roles are separated; independent chair leads strategy and oversight; outside directors meet at least twice per year in executive session without management .
Fixed Compensation
| Component (2024) | Amount | Detail |
|---|---|---|
| Annual cash fees | $166,250 | Chairman and committee retainers (annual standard: outside directors $65,000; Chairman $155,000; committee chairs/members retainers per charter) |
| Annual equity (RSUs) | $99,978 | 3,064 RSUs granted 7/1/2024 at $32.63; vest 7/1/2025, one share per RSU |
| Total | $266,228 | Sum of cash and equity for 2024 |
Fee schedule reference (2024): Audit chair/member $15,000/$7,500; Compensation chair/member $10,000/$5,000; Risk chair/member $10,000/$5,000; Nominating chair/member $10,000/$5,000 .
Performance Compensation
- No performance-based director compensation is disclosed for Meeker (director equity is service-vested RSUs).
- RSU grant details:
| Grant Date | Instrument | Shares | Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| 7/1/2024 | RSUs | 3,064 | $99,978 | Vest 7/1/2025, service-based | One share per RSU; settled in stock at vest |
Other Directorships & Interlocks
| Company/Entity | Public Company? | Relationship/Interlock |
|---|---|---|
| First Federal S&L of McMinnville (prior) | Not disclosed as public | Prior directorship; no current interlocks disclosed |
| Oregon Mutual Insurance (prior) | Mutual insurer (not public) | Prior directorship; no current interlocks disclosed |
| MV Advancements; Oregon State Capitol Foundation | Non-profit | Current roles; no related-party transactions disclosed |
No specific related-party transactions involving Meeker were disclosed; independence review listed relationships for other directors (Moradi, Price) but none for Meeker .
Expertise & Qualifications
- Insurance and risk oversight: Workers’ compensation and insurance subsidiary oversight experience; audit and risk committee service .
- Capital markets/investments: Former state treasurer with fiduciary stewardship of large asset pools; investment management director .
- Governance leadership: Long-standing independent Chair with ex officio access across committees .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % | Unvested RSUs (12/31/2024) | Options | Pledged/Hedged |
|---|---|---|---|---|---|
| Anthony Meeker | 62,884 | <1% | 3,064 | None disclosed | Anti-hedging policy in place; no pledges outstanding for any director/officer |
Director Stock Ownership Guidelines: Non-employee directors are expected to hold shares equal to at least 3x the regular annual cash retainer ($70,000 effective 1/1/2025), measured quarterly; all non-employee directors have met or are on track to meet guidelines .
Section 16 Compliance: All reporting persons complied timely in 2024 except Joseph Clabby filed one late Form 4; no late filings noted for Meeker .
Governance Assessment
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Positives:
- Independent Chairman; separation from CEO enhances oversight and investor confidence .
- Strong attendance (≥93%) across Board/committees in 2024; active engagement .
- Clear committee roles; Meeker serves on Audit and Risk, aligning with his insurance/risk credentials .
- Robust governance infrastructure: anti-hedging/anti-pledging policy (no pledges outstanding), director ownership guidelines, clawback policy for executives .
- Shareholder support: 2024 say-on-pay approval exceeded 93%, signaling alignment of pay programs with performance .
-
Potential risk indicators and monitoring points:
- Tenure and age: Meeker has served since 1993 and is 86; boards should maintain active succession and refresh processes to ensure continued effectiveness and independence perceptions .
- Chair compensation premium and committee fees are standard; ensure equity grants for directors remain service-based (not performance-linked) to preserve independence .
- No specific related-party transactions disclosed for Meeker; continue periodic independence reviews as client/partner relationships evolve (noting relationships disclosed for other directors) .
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Overall: Meeker’s financial and insurance background, independent chair role, and committee participation support board effectiveness and risk oversight. Governance policies (ownership, anti-hedging/pledging, executive clawback) and strong attendance underpin investor confidence; ongoing refresh and succession planning should be maintained given tenure and age .