Nevada Kent IV
About Nevada A. Kent, IV
Independent director of Enterprise Financial Services Corp (EFSC); age 69; director since 2017. Former PwC Market Managing Partner (2004–2012) and Partner (1977–2004); Adjunct Professor of Accounting at Washington University (2012–2020); over 35 years of auditing experience and service on non-public boards. Determined independent under Nasdaq Rule 5605(a)(2). Audit Committee financial expert; currently Audit Committee Chair and member of Human Capital & Compensation Committee and Executive Committee.
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| PricewaterhouseCoopers LLP | Partner | Aug 1977–Jun 2004 | Audit engagements, M&A, litigation support, security offerings |
| PricewaterhouseCoopers LLP | Market Managing Partner | Jul 2004–Jun 2012 | Oversight and market leadership |
| Washington University | Adjunct Professor of Accounting | Aug 2012–May 2020 | Academic role; accounting expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Various non-public boards | Director | Not disclosed | Not disclosed (non-public) |
Board Governance
- Independence: The Board determined all nominees other than the CEO are independent per Nasdaq Rule 5605(a)(2); Kent is independent.
- Committee roles: Audit Committee Chair; Human Capital & Compensation Committee member; Executive Committee member.
- Meetings and engagement: Board met 6 times in 2024; all incumbent directors attended at least 75% of Board and committee meetings; executive sessions held; Independent Chair (DeCola) presides.
- Audit oversight: Audit Committee met 5 times; submitted its report and confirmed auditor independence (Deloitte & Touche LLP).
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit Committee | Chair | 5 |
| Human Capital & Compensation Committee | Member | 4 |
| Executive Committee | Member | 1 |
Fixed Compensation
| Component | Amount (2024) | Notes |
|---|---|---|
| Annual cash + meeting fees | $73,028 | Includes fractional share cash-in-lieu; annual retainer for non-employee directors is $110,000 baseline; Chair of the Board has a different retainer structure |
| Committee retainers (schedule) | Audit Chair $18,000; HCC member $5,000 | Company-wide committee fee schedule; applies to roles held |
| Total annual compensation | $133,000 | Sum of cash and stock components |
Performance Compensation
| Equity Type | Grant Value (2024) | Vesting | Notes |
|---|---|---|---|
| Stock awards (annual director grant) | $59,972 | Fully vested upon grant | Non-employee directors receive minimum ~$60,000 in EFSC stock; shares granted on payment dates |
EFSC’s director equity grants are retainer-based and not performance-conditioned; they vest immediately to align director interests with shareholders.
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed; EFSC notes directors (except where indicated in biographies) do not serve as directors of companies subject to Exchange Act reporting—Kent’s biography does not list other public boards |
| Private/non-profit boards | Non-public boards (unspecified) |
| Compensation committee interlocks | None; HCC had no interlocks in 2024 |
Expertise & Qualifications
- Audit committee financial expert; financially sophisticated per Nasdaq Rule 5605(c).
- Extensive audit and financial reporting background (PwC Partner/Managing Partner).
- Academic experience in accounting; deep finance and governance insight.
Equity Ownership
| Holder | Common Shares Beneficially Owned | % of Outstanding | Depositary Shares (Series A) |
|---|---|---|---|
| Nevada A. Kent, IV | 13,480 | <1% | — |
- Ownership guidelines: Non-employee directors must hold 5x cash retainer ($50,000), i.e., $250,000 in EFSC stock over a five-year window; directors and officers prohibited from hedging and subject to pledging restrictions. Compliance status by director not disclosed.
Governance Assessment
- Strengths: Independent director with deep audit credentials; Audit Committee Chair and designated financial expert—strong signal for robust financial oversight. Board independence and use of executive sessions under an independent Chair enhance governance quality.
- Alignment: Annual equity grants to directors and stock ownership guidelines promote skin-in-the-game; hedging/pledging restrictions support alignment.
- Engagement: Board and committees met regularly in 2024; all directors met ≥75% attendance threshold—indicates active oversight.
- Compensation governance context: Shareholders approved say-on-pay with 96% support in 2024, signaling confidence in compensation oversight by the HCC Committee (where Kent serves). Independent consultant (WTW) utilized; no tax gross-ups; clawback policy in place.
- Conflicts and related-party exposure: EFSC discloses that loans to related persons (including directors) are on market terms, in the ordinary course, without unfavorable features, and subject to Audit Committee oversight—no Kent-specific related-party transactions disclosed.
- RED FLAGS: None disclosed for Kent regarding attendance shortfalls, hedging/pledging, related-party transactions, or public-company interlocks. Director equity grants are fully vested rather than performance-conditioned, which is standard for directors but reduces explicit pay-for-performance link.
Overall signal: Kent’s long audit career, audit chair role, and independence status support board effectiveness and investor confidence; governance processes (independent chair, clawback, ownership guidelines, strong say-on-pay results) further mitigate risk.