Timothy Cabral
DoximityAbout Timothy Cabral
Independent director of Doximity (DOCS) since September 2020; age 58; chairs the Audit Committee and is designated the board’s “audit committee financial expert.” Former long‑tenured CFO at Veeva Systems; holds a B.S. in Finance and an MBA from Santa Clara University. The board has affirmatively determined he is independent under NYSE listing standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Veeva Systems Inc. | Chief Financial Officer (CFO); returned as Interim CFO | Feb 2010–Sep 2020; Interim CFO Apr 2024 | Led finance through IPO; deep SaaS controls expertise |
| Modus Group, LLC | CFO & Chief Operations Officer | Feb 2008–Feb 2010 | Finance and operations oversight in wireless services |
| Agistics, Inc. | CFO & VP Operations | Mar 2005–Jun 2007 | Operational finance leadership |
| PeopleSoft, Inc. | VP, Products & Technology Finance; Sr Director, Corporate FP&A | Jun 1999–Jan 2005; Nov 1997–Jun 1999 | Enterprise software FP&A leadership pre‑Oracle acquisition |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Veeva Systems Inc. (public) | Director | Jan 2022–present | Public company board experience in health tech |
| ServiceTitan, Inc. (private) | Director | Dec 2019–present | Cloud home services operations insight |
| SingleStore, Inc. (private) | Director | Mar 2021–present | Cloud database governance; data infrastructure expertise |
| Apttus Corporation (private; acquired by Thoma Bravo) | Director | Oct 2017–Oct 2018 | Commercial software GTM oversight |
Board Governance
- Committee assignments: Audit (Chair); not listed on Compensation or Nominating & Governance.
- Audit committee composition: Cabral (Chair), Kevin Spain, Regina Benjamin; all independent; Cabral designated “audit committee financial expert.”
- Independence: Board determined Cabral is independent under NYSE standards.
- Attendance: In FY2025, the board held 5 meetings and each director attended at least 75% of board and applicable committee meetings; Audit Committee held 5 meetings.
- Board leadership: CEO serves as Chair of the Board (no separate non‑executive chair noted).
Fixed Compensation
| Component | FY2025 Amount/Policy | Notes |
|---|---|---|
| Annual cash retainer (Board) | $35,000 | Policy for non‑employee directors |
| Audit Committee Chair fee | $20,000 | Policy amount for chair |
| Fees earned (actual cash) | $53,750 | Cabral’s FY2025 actual cash fees |
| Annual RSU grant (policy) | $200,000 | Grant vests in full by next annual meeting or 1‑year anniversary; accelerates on Sale Event |
| Stock awards (grant‑date fair value) | $233,348 | Cabral’s FY2025 stock award value (ASC 718) |
| Outstanding director awards (as of 3/31/25) | 6,360 RSUs; 403,500 stock options | Option counts and RSUs outstanding for director |
- Policy notes: Initial director RSU $400,000; annual RSU $200,000; cash fees paid quarterly; equity values set using trailing 30‑day average close; acceleration on Sale Event per 2021 Plan; 2021 Plan caps director total annual compensation ($750k ongoing, $1.0m initial).
Performance Compensation
- Directors do not have performance‑based pay; annual equity is time‑based RSUs with service‑vesting; no director PSUs or options granted in FY2025. | Performance Metrics Tied to Director Pay | Status | |---|---| | Revenue, Adjusted EBITDA, TSR, ESG | None disclosed for director compensation (director equity time‑based only) |
Other Directorships & Interlocks
- Current public company board: Veeva Systems (healthcare software), while serving as DOCS director and Audit Chair. The board’s independence review found no material or disqualifying relationship.
- Private company boards: ServiceTitan; SingleStore. Prior: Apttus (private).
- Compensation Committee interlocks: None—no officer/employee service on DOCS Compensation Committee and no reciprocal board/comp committee interlocks disclosed.
Expertise & Qualifications
- Financial expertise: Audit committee financial expert; extensive CFO experience in high‑growth SaaS.
- Education: B.S. in Finance; M.B.A., Leavey School of Business, Santa Clara University.
- Industry experience: Enterprise SaaS, healthcare technology, cloud operations, data infrastructure.
Equity Ownership
| Category | Amount | Notes |
|---|---|---|
| Class A shares beneficially owned | 0 | “—” in table; less than 1% ownership overall |
| Class B options exercisable within 60 days (6/11/25) | 393,500 | Included in beneficial ownership calculation |
| RSUs outstanding (director) | 6,360 | As of 3/31/25 for Cabral |
| Ownership % of total shares | <1% | As indicated by “*” (<1%) in beneficial ownership table |
| Hedging/pledging | Prohibited; no exceptions disclosed for Cabral | Company policy bans hedging/pledging; one‑time exception only for CEO in 2023 (terminated May 2025) |
- Section 16 compliance: Company reports all filings timely except a Form 4 amendment by Cabral filed Feb 5, 2025, amending a July 31, 2023 transaction.
Governance Assessment
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Strengths: Independent director with deep CFO and public company experience; chairs Audit Committee; designated financial expert; audit committee met five times; boardwide attendance ≥75% suggests baseline engagement; director pay structure balanced with modest cash plus equity that vests with continued service. These factors support oversight of financial reporting, controls, and risk management.
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Alignment: Annual RSU grants ($200k policy; $233,348 FY2025 grant‑date fair value) provide equity exposure; no hedging/pledging allowed, reinforcing alignment.
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Potential conflicts/considerations: Concurrent Veeva board service and interim CFO role (since Apr 2024) increases time commitments and creates potential information interlocks within health tech, though DOCS board affirmed independence and disclosed no related‑party transactions involving Cabral. Monitor workload and any evolving commercial overlaps.
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Red flags: None material disclosed specific to Cabral; note company‑level securities and derivative litigation naming certain officers/directors (defendants intend to defend vigorously). Isolated Section 16 Form 4 amendment noted. No director meeting fee inflation; no tax gross‑ups; clawback policy applies to executives (not pertinent to director pay).
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Say‑on‑pay signal (executives): 98.6% approval in 2024—strong investor support for pay practices; indirectly suggests governance confidence in compensation oversight.