Tiffany White
FIRST BUSEY CORP /NV/About Tiffany White
Tiffany B. White (age 54) is an independent director of First Busey Corporation since 2025 and has served on the Busey Bank board since 2021. She is Professor of Business Administration and Advertising and the Bruce and Anne Strohm Faculty Fellow at the University of Illinois; she serves as Academic Director of the MS in Management Program and as Faculty Athletics Representative for the University of Illinois, Big Ten and NCAA. The board cites her research in consumer-brand relationships and academic/business acumen as core credentials for board service and enterprise risk oversight perspectives .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Illinois (Gies College of Business) | Professor of Business Administration and Advertising; Bruce and Anne Strohm Faculty Fellow | Ongoing | Academic insight into consumer-brand relationships supporting strategic initiatives |
| University of Illinois | Academic Director, MS in Management Program | Ongoing | Program leadership and management expertise |
| University of Illinois / Big Ten / NCAA | Faculty Athletics Representative | Ongoing | Governance/compliance exposure in athletics oversight |
| Busey Bank | Director | Since 2021 | Financial industry exposure; perspective for enterprise risk |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| University of Illinois | Faculty Athletics Representative | Ongoing | Governance and compliance role (Big Ten/NCAA) |
| University of Illinois (Gies College of Business) | Academic Director, MS in Management Program | Ongoing | Management education leadership |
Board Governance
- Independence: Determined “independent” under Nasdaq rules; each board committee is comprised solely of independent directors .
- Current committee assignments: Audit Committee member as of March 1, 2025; Audit Chair is Frederic L. Kenney (financial expert) .
- Qualifications emphasis: Board cites her consumer-brand research and business acumen; considered qualified for service on enterprise risk (current ERC membership does not list her) .
- Board composition and leadership: Board expanded to 13 members post-merger; lead independent director role held by Rodney K. Brenneman for two years following March 1, 2025 .
- Board-level attendance standard: In 2024, all incumbent directors (pre-merger) attended at least 75% of meetings; all directors expected to attend annual meeting (not director-specific to White) .
- Related-party oversight: Audit Committee reviews and approves related-person transactions and pre-approves audit and non-audit services; also assesses independence/conflict risks .
Fixed Compensation
| Component | Amount | Effective Date | Notes |
|---|---|---|---|
| Annual cash retainer (non-employee directors) | $50,000 | March 2025 | Policy reference notes retainer equals $50,000; ownership guideline equals 5× retainer ($250,000) |
| Annual cash retainer (non-employee directors) | $44,000 | March 2024 | Prior-year increase from $42,000 |
| Committee membership fee (non-chair) | $6,000 per committee | 2024 program | Applies per committee served |
| Audit Committee chair fee | $15,000 | 2024 program | Chair premium (Kenney, not White) |
| Compensation/Nominating/Enterprise Risk chair fee | $12,500 | 2024 program | Chair premium |
| Lead Independent Director add’l retainer | $12,500 | 2024 program | Role premium (Brenneman) |
| Busey Bank Directors Loan Committee fee | $10,000 | 2024 program | Applies if serving on that bank committee |
Performance Compensation
| Equity Component | Grant Mechanics | Annual Value (Program) | Notes |
|---|---|---|---|
| Deferred Stock Units (DSUs) | Annual DSU grant; settlement deferred until separation from board or change in control | $73,000 (2024) | DSUs vest on first anniversary; program amounts reviewed by Compensation Committee with Pearl Meyer benchmarking |
- No performance metrics (TSR/revenue/ESG) are tied to non-employee director compensation; director equity is DSUs with time-based vesting and deferred settlement .
Other Directorships & Interlocks
| Company | Board/Committee Role | Period | Notes |
|---|---|---|---|
| Public company directorships | None disclosed (past five years) | — | Proxy notes only Ms. Grigsby and Mr. Rauckman have current/prior public boards; others (including White) do not |
Expertise & Qualifications
- Consumer-brand relationship research and advertising/business expertise cited as providing unique strategic perspective to First Busey .
- Financial services exposure through Busey Bank board since 2021 supports risk oversight competency .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Common stock beneficially owned | 7,085 shares (via DSUs) | Footnote clarifies the amount consists of DSUs issuable at termination of service |
| Ownership as % of shares outstanding | <1% | Table shows less than one percent |
| Pledged shares | None noted | Pledging prohibited without Nominating Committee approval; no pledges disclosed for White |
| Hedging | Prohibited | Insider trading policy forbids hedging; no violations disclosed |
| Director ownership guideline | $250,000 (5× annual cash retainer) | DSUs (vested or unvested) do not count toward guideline; 5-year accumulation period applies |
Note: As of April 1, 2025, White’s beneficial ownership consists solely of DSUs that do not count toward ownership guidelines; new directors have a five-year period to reach guideline levels .
Governance Assessment
- Strengths: Independent director with Audit Committee responsibilities; audit committee oversees related-party transactions and auditor independence; robust governance infrastructure (85% independent directors, internal audit reporting to Audit Committee, whistleblower hotline) .
- Alignment mechanisms: Director stock ownership policy (5× retainer) and prohibition on hedging/pledging enhance alignment and risk control; clawback policy compliant with SEC/Nasdaq (for executives) signals pay discipline at the board level overseeing compensation .
- Shareholder feedback signal: Say-on-pay approved ~93% in 2024, indicating strong investor support for compensation governance framework (executive-focused but board-reviewed) .
- Watch items: Current disclosed beneficial ownership for White is DSU-only, which does not count toward the stock ownership guideline; monitoring progress toward guideline over the five-year accumulation window is prudent for alignment optics .
- Conflicts/related party: No related-party red flags specific to White disclosed; the Audit Committee reviews all related-person transactions and indicated banking relationships are on market terms and did not present unfavorable features .