Eric Shuey
About Eric Shuey
Eric Shuey (age 57) is an independent Class II director at LifeStance Health Group (LFST), serving since 2018, with current term expiring at the 2026 annual meeting . He is Audit Committee Chair and the Board-designated audit committee financial expert, reflecting deep finance and healthcare services expertise; he holds an MBA from Wharton and a BA from California State University, Fullerton . LFST is a “controlled company” under Nasdaq rules, but Shuey is deemed independent under Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Revelstoke Capital Partners LLC | Partner (healthcare services focus) | Not disclosed | Private equity operator/investor; informs finance and healthcare acumen |
| Liberty Health Partners (merged with Remedy Partners) | Co‑founder and President | Not disclosed | Value-based care experience |
| Fresenius Medical Care North America | Senior Corporate Development Executive | 2012–2017 | Strategic/M&A leadership in healthcare services |
| Liberty Dialysis LLC | Chief Financial Officer | 2006–2012 | Financial leadership in dialysis services |
| DB Capital Partners (Deutsche Bank) | Director | Not disclosed | Investing/transaction experience |
| Aurora Capital Group | Principal | Not disclosed | Private equity investing |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Genea | Director | Current | Healthcare services board role |
| Partners Surgical | Director | Current | Healthcare services board role |
| Sound Physicians | Director | Current | Healthcare services board role |
| U.S. Renal Care | Director | Current | Healthcare services board role |
Board Governance
- Committee assignments: Audit Committee Chair; members include Darren Black and (post‑Annual Meeting) Eric Palmer; Shuey is the Board’s “audit committee financial expert” .
- Independence: Board determined Shuey is independent under Nasdaq rules .
- Attendance: The Board met five times in 2024; each director attended at least 75% of Board and relevant committee meetings .
- Audit Committee activity: Met four times in 2024; oversees external audit, internal control, related‑party transaction review/approval, and IT/cybersecurity oversight .
- Governance context: LFST is a “controlled company” under Nasdaq; certain governance exemptions may apply (not to Audit) .
- Nomination rights: Sponsor investors (TPG, Summit, Silversmith) have director nomination rights; Shuey is not listed as a sponsor designee (TPG named Miller, Rhodes, Wood, Verma, Palmer; Summit named Black; Silversmith named Crisan) .
Fixed Compensation (Director; 2024)
| Component | Amount / Detail | Source |
|---|---|---|
| Annual cash retainer | $50,000 | |
| Audit Committee Chair retainer | $20,000 | |
| Total cash fees (2024) | $70,000 | |
| Annual RSU grant (fair value) | $199,997 | |
| RSU grant shares and grant date | 36,363 RSUs (granted July 21, 2024) | |
| RSU vesting | Vest in full on earlier of June 1, 2025 or next annual meeting; full vest on change in control | |
| Unvested restricted stock held (12/31/2024) | 23,363 shares | |
| Unvested RSUs held (12/31/2024) | 36,363 units |
Notes:
- Independent Director Policy: annual cash fee $50,000 and annual RSUs ≈$200,000; initial RSUs ≈$400,000 for first‑year directors; RSUs vest on next annual meeting/first anniversary; full vest on change in control .
Performance Compensation
Directors receive time‑based RSUs; no performance metrics apply to director equity awards (vesting is service‑based, not tied to financial KPIs) .
| Metric | Weight | Threshold | Target | Max | Outcome |
|---|---|---|---|---|---|
| Not applicable (director equity is time‑based) | — | — | — | — | — |
Other Directorships & Interlocks
- Public company directorships disclosed for Shuey: none specified in proxy; listed boards (Genea, Partners Surgical, Sound Physicians, U.S. Renal Care) are named without public/private designation .
- Sponsor interlocks: Shuey is not a TPG, Summit, or Silversmith designee per the nomination disclosure .
Expertise & Qualifications
- Audit committee financial expert (SEC/Nasdaq definition) .
- Finance and healthcare services background (PE partner; CFO/Corp Dev roles); MBA (Wharton), BA (CSU Fullerton) .
- Experienced board member in multi‑site/provider healthcare businesses (Sound Physicians, U.S. Renal Care, Partners Surgical, Genea) .
Equity Ownership
| Ownership Element | Amount | Notes |
|---|---|---|
| Total beneficial ownership | 1,169,192 shares (<1% of 388,882,916 outstanding) | Includes elements below |
| Common shares | 1,109,466 | Beneficially owned |
| Unvested restricted stock (voting) | 23,363 | Has voting rights |
| RSUs vesting within 60 days (counted as beneficial) | 36,363 | Included in beneficial ownership |
Compliance/Restrictions:
- Company prohibits hedging by directors, officers, and employees .
- Delinquent Section 16(a): Company noted a late Form 4 filing for Shuey on Aug 27, 2024 related to an RSU issuance (administrative timing) .
Governance Assessment
- Positives:
- Independent Audit Chair with “financial expert” designation enhances audit quality, oversight of internal controls, and related‑party scrutiny .
- Strong sector fit and transaction/finance background align with LFST’s growth and profitability focus .
- Material personal stake (≈1.17M shares, including unvested voting restricted stock) supports alignment with shareholders, though <1% given large float .
- Board/committee attendance thresholds met; Audit Committee active (4 meetings) .
- Hedging prohibitions apply to directors, supporting alignment .
- Watch items / potential red flags:
- Controlled company status reduces certain governance requirements (not Audit), which can limit independent influence compared to non‑controlled peers .
- Late Form 4 in 2024 for RSU issuance; not uncommon but worth monitoring for timely compliance .
- Sponsor nomination rights concentrate influence (though Shuey is not a sponsor designee); underscores importance of truly independent audit leadership .