Sadhana Akella-Mishra
COASTAL FINANCIALAbout Sadhana Akella-Mishra
Independent director of Coastal Financial Corporation (CCB), age 48, serving since 2019 with her current term expiring in 2027. Background spans compliance, risk, and information security leadership across fintech and banking, including roles as Chief Risk Officer (Finxact), Chief Compliance Officer (Zenbanx and Geoswift), Senior Manager of General Compliance (Ripple), and anti-financial crime leadership at Deutsche Bank; she is currently consulting with fintech companies and briefly served as COO/Chief of Staff at a startup from September 2024 to March 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Startup fintech | COO & Chief of Staff | Sep 2024–Mar 2025 | Operating leadership in fintech; governance exposure via scaling ops |
| Finxact, Inc. | Chief Risk Officer | Jul 2018–(prior to Sep 2024) | Enterprise risk for core banking fintech; information security |
| Sunlight Payments (Purposeful) | Chief Information Security & Compliance Officer | May–Jun 2018 | Security and compliance program leadership |
| Geoswift Ltd. | Chief Compliance Officer (Global) | Jun 2017–Apr 2018 | Global compliance oversight |
| Geoswift US Inc. | U.S. Head of Compliance | Nov 2016–Jun 2017 | U.S. regulatory compliance leadership |
| Ripple, Inc. | Senior Manager, General Compliance | Apr–Nov 2016 | Fintech compliance in payments/crypto context |
| Zenbanx Holding Ltd. | Chief Compliance Officer; Senior Compliance Manager | Mar 2014–Apr 2016; Aug 2013–Feb 2014 | Consumer banking compliance at digital bank |
| Deutsche Bank | Various, incl. Americas Regional Head, Anti Financial Crime–Fraud | Jul 2007–Jul 2013 (AFCR head: Sep 2012–Jul 2013) | Anti-financial crime and fraud expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Various fintech companies | Consultant | Current | No public company directorships disclosed |
Board Governance
- Independence: The Board determined all directors are independent except CEO Eric M. Sprink, President CCBX Brian T. Hamilton, and director Chris Adams; Akella-Mishra is independent under Nasdaq standards .
- Committee assignments: Member, Governance & Nominating Committee; not listed on Audit or Compensation committees; no chair roles .
- Meeting cadence and attendance: Board held 11 meetings in 2024; key committees met as follows—Audit (15), Compensation (3), Governance & Nominating (1). No director attended fewer than 75% of Board and key committee meetings on which they served in 2024 .
- Board leadership: Chair separate from CEO (Chair: Christopher D. Adams; CEO: Eric M. Sprink) .
- Risk oversight: Board and committees oversee financial reporting, compensation risk, governance independence, and BaaS risk via a Non-Financial Risk Committee; CRO appointed for enterprise risk management .
Fixed Compensation
| Component | Amount | Detail |
|---|---|---|
| Fees earned (cash) – 2024 | $47,917 | Standard director cash comp ~$43,000; committee chairs receive +$5,000; Chair receives ~$63,000 |
| Total cash + equity – 2024 | $120,436 | Includes stock awards noted below |
Performance Compensation
Directors receive time-based restricted stock (no performance metrics). Grants are typically in May and vest 100% one day prior to the next annual meeting.
| Equity Award | Grant Value (2024) | Unvested Shares at 12/31/2024 | Vesting Terms |
|---|---|---|---|
| Restricted stock (RSA) | $72,519 | 1,661 | Vests in full one day prior to next annual meeting; partial shares rounded up |
Other Directorships & Interlocks
| Company | Role | Notes |
|---|---|---|
| None disclosed | — | No other public company boards or disclosed interlocks |
Expertise & Qualifications
- Compliance, risk, and information security expertise across fintechs and global banks; anti-financial crime/fraud leadership at Deutsche Bank .
- Familiarity with digital banking and BaaS ecosystems; fintech operating roles (COO/Chief of Staff; CRO) .
- Board qualifications: Company cites her compliance and information security expertise and financial services familiarity as reasons she is well qualified .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % of Outstanding | Unvested RSAs | Pledging/Hedging |
|---|---|---|---|---|
| Sadhana Akella-Mishra | 5,608 (includes 3,947 owned + 1,661 unvested) | <1% (“*”) | 1,661 | No pledging indicated for her; company prohibits hedging and generally prohibits pledging (limited exceptions) |
Governance Assessment
- Strengths: Independent status; governance-focused committee seat; at least 75% meeting attendance; equity-based director pay aligns to shareholder value; no related-party transactions disclosed for her; no delinquent Section 16 filings noted for her .
- Compensation alignment: Director pay is modest with a balanced cash retainer and time-based equity vesting annually prior to the next meeting, incentivizing continued service and alignment without short-term performance gaming .
- Ownership alignment: Personal holding of 5,608 shares with ongoing unvested RSAs; no pledging indicated; corporate policy prohibits hedging and generally prohibits pledging, supporting alignment .
- Board-level risk signals to monitor (not specific to her):
- Restatement and clawback application in 2025 (impacting executive incentive comp by $2,873 aggregate), indicating active oversight but highlighting prior control issues; useful context for Audit Committee and Board governance effectiveness .
- Related-party legal services with director Chris Adams’s firm (Adams & Duncan) totaling $971,000 in 2024; approved per policy but an interlock risk requiring continuous scrutiny .
- Related-party loans/deposits exist in ordinary course with directors/officers ($12.6 million loans; $3.9 million deposits) on market terms; none categorized as problematic as of year-end 2024 .
- Shareholder sentiment: Say-on-pay support ~99% in 2024 signals broad investor confidence in pay governance and oversight .
- Board refresh dynamics: Proposed bylaw amendments to remove mandatory retirement age and allow Board flexibility (without changing director qualifications/terms via Board action) may enhance continuity but warrant attention for refreshment and succession planning; Akella-Mishra (age 48) is below prior threshold .
RED FLAGS: None disclosed specific to Akella-Mishra. Board-level items to watch include the legal services interlock with a sitting director and oversight of remediation post-restatement .