Tere Blanca
BankUnitedAbout Tere Blanca
Founder, Chairman and CEO of Blanca Commercial Real Estate, with 25+ years in South Florida CRE; previously Senior Managing Director at Cushman & Wakefield of Florida and Senior Vice President at Codina Realty Services. She holds a B.B.A. in international marketing and finance and an M.B.A. from the University of Miami; age 64, BKU director since September 2013, and currently serves on the Compensation Committee; the Board classifies her as independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Blanca Commercial Real Estate, Inc. | Founder, Chairman & CEO | Not disclosed | Leading independently owned CRE services firm in Florida |
| Cushman & Wakefield of Florida, Inc. | Senior Managing Director | Prior to Mar-2009 | Led South Florida operations |
| Codina Realty Services, Inc. ONCOR International | Senior Vice President | Prior to Mar-2009 | Senior leadership role |
External Roles
| Organization | Role | Committees/Impact | Status |
|---|---|---|---|
| The Miami Foundation | Past member, Board of Directors | Community leadership | Past |
| Greater Miami Chamber of Commerce | Member, Board of Governors | “Power Leader” awards noted | Current |
| City Year Miami | Past Chair, Board of Directors | Youth service support | Past |
| The Beacon Council (Miami-Dade EDA) | Past Chair | Economic development leadership | Past |
| YPO Gold Miami–Ft Lauderdale | Member | Executive peer network | Current |
| YPO Miami | Associate member | Executive peer network | Current |
| Women Corporate Directors (WCD) | Member | Governance community | Current |
| Miami Dade College Foundation | Board member | Education philanthropy | Current |
| University of Miami School of Business | Real Estate Advisory Council member | Academic advisory | Current |
| Urban Land Institute SE FL & Caribbean | Advisory Board Chair | Urban development insight | Current |
Board Governance
- Committee assignments: Compensation Committee member; the committee met 6 times in 2024 and all members meet NYSE independence standards .
- Independence: Board affirmed Ms. Blanca (and all directors other than the CEO) are independent in March 2025 .
- Attendance: In 2024, the Board held 6 meetings and acted by written consent 5 times; each director attended at least 75% of Board and committee meetings, and all directors attended the 2024 annual meeting .
- Interlocks: Compensation Committee interlocks—none; members (incl. Blanca) were not officers/employees and had no Item 404 relationships in 2024 .
- Related parties: Company reported no related party transactions for FY2024 or YTD 2025 .
- Governance practices: Board/committee annual self-evaluations and director education on regulatory and emerging topics (e.g., AI) .
| Committee | Role | 2024 Meetings | Independence |
|---|---|---|---|
| Compensation Committee | Member | 6 | All members independent |
Fixed Compensation
- Structure: No changes to the director compensation program in 2024; annual Board cash retainer $70,000; Audit and Risk Chairs $60,000; Audit and Risk members $25,000; Compensation and NCG Chairs $25,000; no meeting fees; reimbursed reasonable expenses .
| Year | Fees Earned or Paid in Cash ($) | Notes |
|---|---|---|
| 2023 | 70,000 | Annual cash retainer; no meeting fees |
| 2024 | 70,000 | Annual cash retainer; no meeting fees |
Performance Compensation
- Annual equity grants (time-based vesting; not performance-conditioned): Restricted common shares granted at annual meeting; vest on earlier of first anniversary or next annual meeting; accelerated vesting upon death/disability and in certain change-of-control circumstances .
| Metric | 2023 | 2024 |
|---|---|---|
| Grant Date | May 16, 2023 | May 15, 2024 |
| Shares Granted (#) | 4,133 | 2,320 |
| Grant Date Fair Value ($) | 70,013 | 70,018 |
| Unvested Restricted Shares at Dec 31 (#) | 4,133 | 2,320 |
| Vesting Terms | Earlier of 1-year or next AGM; accelerated death/disability/CoC | Earlier of 1-year or next AGM; accelerated death/disability/CoC |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current U.S.-listed public company boards | None disclosed in BKU proxy biography |
| Compensation Committee interlocks | None; no Item 404 relationships in 2024 |
Expertise & Qualifications
- Executive leadership and deep knowledge of commercial real estate markets; relationships within the business community .
- Skills matrix indicates strengths in C-suite leadership, corporate governance, strategic planning, risk management, real estate, and technology/digital innovation/cybersecurity among other areas for Blanca .
Equity Ownership
| Item | Value |
|---|---|
| Beneficial Ownership (shares) | 22,782 |
| Beneficial Ownership (%) | <1% (*) |
| Unvested Restricted Shares (#) | 2,320 |
| Director Stock Retention Guideline | 5× annual retainer; directors may only sell to cover taxes if below threshold |
| Compliance with Retention Guideline | All non-management directors in compliance |
| Hedging/Pledging | Prohibited (short sales, hedging, pledging, margin accounts) |
Governance Assessment
- Alignment: Cash/equity mix is balanced and stable YoY; equity grants with annual vesting and 5× retainer stock retention promote ownership alignment; hedging/pledging prohibitions reduce misalignment risk .
- Effectiveness: Active member of the Compensation Committee with documented oversight of incentive policies and annual risk assessments confirming no compensation-related material adverse risk in 2024; full Board and committee attendance expectations met .
- Independence and conflicts: Board reaffirmed independence; company reported no related party transactions and no compensation interlocks; potential perceived conflict from her CRE firm is mitigated by Item 404 review processes and absence of reportable transactions .
- Signals: Stability in director pay structure with no 2024 increases; addition of a third independent member to Compensation Committee (May 2024) strengthens oversight; Compensation Committee report signed by Blanca indicates engagement .
RED FLAGS: None disclosed—no Item 404 related-party transactions, no hedging/pledging, and compliance with director stock retention guideline .