Dara Steele-Belkin
GLOBAL PAYMENTSAbout Dara Steele-Belkin
General Counsel and Corporate Secretary of Global Payments Inc. (GPN); identified in the 2025 proxy as the board’s appointed Corporate Secretary and as a designated proxyholder, and the signatory on multiple SEC filings, underwriting agreements, and a legal opinion supporting a notes offering . A detailed biography (age, education) was not included in the executive officer biographies section of the 2025 proxy; the role transitioned after prior legal chief David L. Green moved to Chief Administrative Officer in July 2024 . Company performance context around her tenure: 2024 delivered mid-single-digit revenue growth, improved operating margins, significant EPS growth, and $1.8B of capital returned (dividends and buybacks) .
Past Roles
No detailed past-role biography was provided for Dara Steele-Belkin in the executive officer section of the 2025 proxy; she is presented as General Counsel and Corporate Secretary on signature and proxy pages .
External Roles
No external directorships or committee roles for Dara Steele-Belkin were disclosed in the reviewed filings .
Fixed Compensation
- Dara Steele-Belkin was not a Named Executive Officer (NEO) in the 2025 proxy; her base salary, target bonus, and cash/equity grants were not disclosed in the Summary Compensation tables (which cover CEO, COO, CFO, CAO, CHRO, and one former NEO) .
- Company-wide pay practices impacting senior leaders: no excise tax gross-ups, no hedging or pledging of company stock, no option repricing/backdating/discounted options, capped payouts on STI/PSU at 200% of target, double-trigger change-in-control terms, and robust clawback policy covering incentive comp; stock ownership thresholds and holding requirements apply to NEOs and other senior management (CEO 600%, other NEOs 400%, other senior management 200–400%) .
Performance Compensation
Company executive incentive design (context for senior leadership; Dara’s individual participation was not disclosed):
| Metric | Weighting | Threshold | Target | Maximum | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|---|
| Adjusted Net Revenue | 50% | $8,780M | $9,242M | $9,519M | $9,188M | 94.2% | Annual cash (pays after year-end certification) |
| Adjusted Operating Margin | 50% | 44.5% | 45.0% | 45.4% | 45.0% | 100.0% | Annual cash (pays after year-end certification) |
Performance Units (PSUs) design for 2024 grants: metric is adjusted EPS growth with a 3-year performance period and a +/-25% TSR modifier vs S&P 500; payout ranges 0–200% of target and converts to unrestricted shares after Committee certification at year 3 . 2022 PSU final payout (context): earned at 70.6% of target due to the TSR percentile below the 30th percentile resulting in a -50% modifier; example outcomes shown for NEOs in the proxy .
2025 STI update: adds a strategic “Transformation Adjusted Operating Income Benefit” metric at 20% weight alongside Adjusted Net Revenue (40%) and Adjusted Operating Margin (40%) with 0–200% payout curves .
Equity Ownership & Alignment
- Beneficial ownership tables list directors and NEOs; Dara Steele-Belkin is not included, and no Form 4 data was provided in the reviewed documents—vested/unvested holdings, options, or RSUs for her are not disclosed .
- Alignment policies: hedging and pledging of company stock are prohibited; comprehensive clawback policy; ownership guidelines and required holding until thresholds are met (CEO 600% of salary; other NEOs 400%; other senior management 200–400%); dividends are not paid on PSUs prior to vesting .
Employment Terms
- Individual employment agreement terms for Dara Steele-Belkin were not disclosed; NEO employment contracts provide context: auto-renewing three-year terms, non-compete generally 24 months (shortened to 18 months for terminations without cause or for good reason), double-trigger change-in-control severance (salary and target bonus multiples, COBRA cash payment), pro-rata vesting of PSUs on termination, and accelerated vesting mechanics as specified; no excise tax gross-ups .
- The Global Payments 2025 Incentive Plan avoids single-trigger vesting on a change-in-control and prohibits option/SAR repricing without shareholder approval .
Investment Implications
- Disclosure gap: As GC/Corporate Secretary and not an NEO, Dara Steele-Belkin’s specific pay mix, targets, awards, and ownership are not provided—limiting direct pay-for-performance alignment assessment for her personal incentives . Company policy mitigants include strong anti-hedging/pledging, clawbacks, and double-trigger CIC terms, which reduce misalignment and golden parachute risk signals .
- Operating/strategy context: 2024 execution delivered mid-single-digit revenue growth, higher operating margins, EPS growth, and $1.8B returned to shareholders, supporting compensation frameworks tied to adjusted revenue/margin/EPS and TSR modifiers for senior leadership .
- Governance and shareholder support: say‑on‑pay received ~strong support in 2024 (88%) and 2025 vote tallies show continued backing, and the board adopted robust governance and risk oversight practices—reducing compensation-related red flags and retention concerns among senior leaders .