Sandra Rivera
Director at EQIX
Board
About Sandra Rivera
Sandra Rivera (age 60) has served as an independent director of Equinix since October 2019. She is Chief Executive Officer of Altera, an Intel Corporation business, and previously held senior executive roles at Intel including EVP & GM of the Data Center and AI Group and Chief People Officer. At Equinix, Rivera chairs the Talent, Culture and Compensation Committee and serves on the Stock Award Committee, reflecting deep human capital, technology, and go‑to‑market expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Intel Corporation | EVP & GM, Data Center and AI Group; Chief People Officer; leader of Network Platforms Group | 2000–2023 | Led major technology/business units; human capital leadership supporting compensation oversight |
| Catalyst Telecom | General Manager, CTI division | 1998–2000 | Commercial leadership and customer-facing experience |
| The CTI Authority | Co‑Founder and President | 1996–1998 | Entrepreneurial and go‑to‑market leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Altera (an Intel Corporation) | Chief Executive Officer | Since 2024 | Operating executive role; no Equinix related‑party transactions disclosed with Intel/Altera |
Board Governance
- Committee assignments: Chair – Talent, Culture and Compensation (TCC); Member – Stock Award Committee (typically acts by written consent) .
- Independence: Board determined Rivera is independent under SEC and Nasdaq standards .
- Attendance: In 2024 the Board met 8 times; committees met 55 times. Each incumbent director attended at least 75% of aggregate Board and committee meetings on which they served .
- TCC mandate: Oversees human capital, executive compensation plans, global equity usage, succession planning; engages Compensia as independent compensation consultant (independence assessed, no conflicts) .
- Stock Award Committee: Approves grants to non‑Section 16 officers; acts by written consent .
Fixed Compensation
| Component | Amount ($) | Detail |
|---|---|---|
| Board annual cash retainer | 75,000 | Paid to all non‑employee directors |
| TCC Chair annual retainer | 25,000 | Chair fee for Talent, Culture and Compensation Committee |
| Meeting fees (TCC) | 0 | Paid only above thresholds; TCC held 5 meetings in 2024 (threshold=8) |
| 2024 Cash Fees (actual) | 100,000 | Rivera’s total cash fees earned in 2024 |
- Lead Independent Director fee change (program): increased by $20,000 effective Jan 2024; not applicable to Rivera .
- Director compensation program review: Compensia advises; elements aligned near 50th percentile market practices .
Performance Compensation
| Grant | Shares (#) | Grant-Date Fair Value/Share ($) | Total Fair Value ($) | Vesting |
|---|---|---|---|---|
| Annual RSU (May 2024) | 338 | 767.53 | 259,425 | Fully vests at the next annual meeting schedule; directors accrue dividend equivalents; CIC accelerates if awards not assumed |
- Program terms: Annual RSU award value $260,000; RSUs become fully vested on the earlier of the first anniversary of the immediately preceding annual meeting or, if not standing for reelection, the first annual meeting subsequent to grant. Dividend equivalents accrue; directors may elect to defer settlement; non‑employee director comp capped at $750,000 annually (with $200,000 possible for special service) .
- 2024 equity mix: Director equity is time‑based RSUs; no director PSUs or option awards disclosed .
Other Directorships & Interlocks
| Category | Status |
|---|---|
| Current public company directorships (besides Equinix) | None disclosed in nominee biography (past five years) |
| Committee interlocks | TCC uses independent consultant Compensia; independence assessed and no conflict of interest found |
Expertise & Qualifications
- Skills matrix highlights: Executive Leadership; Relevant Technology Depth & Customer Perspective; Cloud/XaaS; Global Experience; Human Capital; Go‑to‑Market; M&A; Sustainability; Public Company Board experience .
Equity Ownership
| Holder | Shares Beneficially Owned (#) | % Outstanding | Notes |
|---|---|---|---|
| Sandra Rivera | 2,043 | <1% | Includes 338 RSUs vesting within 60 days of Mar. 25, 2025 |
- Director ownership guideline: Minimum holding of 6× annual cash retainer; all directors were in compliance as of Dec. 31, 2024. Unvested RSUs do not count toward compliance; vested and deferred RSUs do count .
- Hedging/pledging policy: Company prohibits hedging and limits pledging; no pledging disclosed for Rivera .
Governance Assessment
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Strengths for investor confidence:
- Independent director with technology, AI/data center, and human capital leadership; chairs TCC (oversight of pay-for‑performance structures) .
- High Board/committee engagement (8 Board and 55 committee meetings; all incumbents ≥75% attendance) .
- Robust governance policies: stock ownership guidelines; hedging prohibition; recoupment policy; majority vote standard; proxy access .
- Say‑on‑Pay support: 87.9% approval at 2024 annual meeting, signaling shareholder alignment with compensation practices overseen by TCC .
- Director equity aligns interests via annual RSUs; ability to defer settlement; non‑employee director compensation cap .
- Independent consultant (Compensia) advising TCC; independence assessed with no conflicts .
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Potential risks/RED FLAGS:
- External full‑time CEO role at Altera may pose time‑commitment constraints; however, Equinix reports strong attendance standards and Rivera chairs TCC, mitigating engagement concerns .
- No related‑party transactions or share pledging disclosed for Rivera; broader company disclosures show pledging only by other individuals (not Rivera) .
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Related‑party transactions: None disclosed involving Rivera; overall 2024 related‑party items limited to revenues from entities affiliated with major shareholders and employment of a director’s family member (not Rivera) .
-
Program design observations:
- Director compensation includes significant equity component ($259,425 RSUs in 2024) versus cash ($100,000), supporting ownership alignment (approx. 72% equity/28% cash mix) .
- 2024 program changes increased annual director equity grant value by $10,000 to align with market median, indicating mindful but modest upward pressure on director pay levels .
Overall, Rivera’s independent status, TCC chair role, strong attendance culture, and equity‑driven director compensation structure support board effectiveness and alignment, with no material conflicts identified in Equinix disclosures .