Valerie Mosley
DraftKingsAbout Valerie Mosley
Valerie Mosley (age 65) has served as an independent director of DraftKings since September 2020. She is the Founder of Upward Wealth, and previously spent 20 years at Wellington Management as Partner, SVP, Portfolio Manager and Investment Strategist, chairing Wellington’s Industry Strategy Group and serving on investment and risk committees; she holds a B.A. from Duke and an MBA from Wharton .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wellington Management Company, LLP | Partner, SVP, Portfolio Manager, Investment Strategist | Jan 1992–Jun 2012 | Chaired Industry Strategy Group; sat on investment committees and risk committee; President of Wellington’s Foundation |
External Roles
| Organization | Role | Tenure | Committees/Details |
|---|---|---|---|
| Upward Wealth | Founder | Current | Fintech platform focused on wealth building |
| Eaton Vance family of mutual funds | Director | Current | Chair of governance committee; member of portfolio management committee |
| Envestnet, Inc. (NYSE: ENV) | Director (prior) | Prior service; dates not specified | Member of nominating & governance; compliance & information security committees |
| Groupon, Inc. (NASDAQ: GRPN) | Director (prior) | Apr 2020–Aug 2022 | Member of audit and nominating committees |
| Caribou (private fintech) | Director (prior) | Prior service; dates not specified | Board service noted |
| FDIC Special Committee | Member | Mar–May 2024 | Special assignment |
| McLean Hospital | Director (non-profit) | Current | Board service |
| Skoll Foundation Investment Committee | Member | Current | Investment committee member |
Board Governance
- Independence: DraftKings classifies Ms. Mosley as an independent director under NASDAQ and SEC rules .
- Board leadership: Combined CEO/Chairman; no lead independent director .
- Committee memberships and activity:
- Audit Committee: Member; committee chaired by Steven J. Murray; held 4 meetings in 2024 .
- Nominating & Corporate Governance Committee: Member; committee chaired by Marni M. Walden; held 1 meeting in 2024 .
- Attendance and engagement: In 2024 the Board held 6 meetings; each director attended at least 75% of Board and applicable committee meetings; non‑employee directors held 4 executive sessions .
| Committee | Role | Chair | 2024 Meetings |
|---|---|---|---|
| Audit | Member | Steven J. Murray | 4 |
| Nominating & Corporate Governance | Member | Marni M. Walden | 1 |
Fixed Compensation
- Program design (non‑employee directors):
- Annual Board retainer: $45,000
- Committee chairs: Audit $20,000; Compensation $17,500; Nominating & Corporate Governance $10,000; Compliance & Risk $10,000; Transaction $10,000
- Committee members: Audit $10,000; Compensation $7,500; Nominating & Corporate Governance $5,000; Compliance & Risk $5,000; Transaction $10,000
- Equity retainer: $250,000 in RSUs granted at initial election and annually, vesting at the earlier of next annual meeting or 1‑year anniversary; retainers delivered in equity until DraftKings is profitable .
| Component | Amount | Vesting/Notes |
|---|---|---|
| Annual Board retainer | $45,000 | Paid quarterly in arrears; delivered in equity until profitable |
| Committee chair fees | $20,000 (Audit); $17,500 (Comp); $10,000 (Nominating/Compliance/Transaction) | Paid quarterly; delivered in equity until profitable |
| Committee member fees | $10,000 (Audit); $7,500 (Comp); $5,000 (Nominating/Compliance); $10,000 (Transaction) | Paid quarterly; delivered in equity until profitable |
| Annual equity retainer | $250,000 RSUs | Vests by next annual meeting or 1‑year anniversary |
Performance Compensation
- No performance‑linked director compensation is disclosed; director equity is granted as time‑based RSUs (not PSUs) with annual vesting cadence .
| Item | Details |
|---|---|
| Performance‑linked pay for directors | Not disclosed/applicable; director equity retainer is RSUs (time‑based), not PSUs |
Director Compensation (Valerie Mosley – 2024)
| Component | Amount |
|---|---|
| Stock Awards (grant‑date fair value) | $310,245 |
| All Other Compensation (financial planning services) | $15,925 |
| Total | $326,170 |
| Unvested RSUs at 12/31/2024 | 6,969 |
Other Directorships & Interlocks
- Current board service at Eaton Vance mutual funds (governance chair; portfolio management committee) — financial services exposure that may inform DraftKings’ governance and risk practices; no DraftKings‑related transactions are disclosed in these roles .
- Prior public company boards: Envestnet (ENV) and Groupon (GRPN) with committee roles as noted above .
Expertise & Qualifications
- Long‑tenured institutional investor and strategist; chaired industry strategy at Wellington; served on investment and risk committees .
- Governance experience as committee chair (Eaton Vance mutual funds) .
- Education: B.A. (Duke), MBA (Wharton—finance specialty) .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (Class A shares) | 36,418 |
| Ownership % | Less than 1% (per table notation) |
| Pledges/Hedging | No pledges noted for Ms. Mosley in ownership table ; company policy prohibits hedging/short sales and pledging without CLO approval |
| Unvested director RSUs (12/31/2024) | 6,969 |
| Stock ownership guidelines (Directors) | 5x Board cash retainer |
Governance Assessment
- Positives: Independent status; service on Audit and Nominating/Governance committees; Board reports full compliance with ≥75% attendance; director equity and ownership guidelines promote alignment; insider trading policy restricts hedging/pledging and requires pre‑clearance, supporting investor alignment .
- Watch items/RED FLAGS:
- Controlled company: CEO holds ~89% of total voting power; Board has no lead independent director, which concentrates power and may limit independent oversight .
- Ownership magnitude: Ms. Mosley’s beneficial ownership is small relative to shares outstanding (table indicates “less than one percent”), though ongoing RSU grants and director ownership guidelines help mitigate alignment concerns .
- Attendance/engagement: Audit (4 meetings) and Nominating/Governance (1 meeting) activity provides oversight touchpoints; Board held four executive sessions of non‑employee directors in 2024, supporting independent discussion .
No Mosley‑specific related‑party transactions, legal proceedings, or pledging were identified in the proxy sections cited above; insider‑trading and clawback policies are in place at the company level, reinforcing governance practices .