Sarah Personette

About Sarah Personette

Sarah Personette was appointed to LifeStance Health Group, Inc.’s Board of Directors on August 20, 2025, filling the vacancy created by William Miller’s resignation; she received an initial grant of 74,766 RSUs upon appointment . She is a seasoned customer experience, media and technology executive and currently serves as CEO of Puck; prior executive roles include Chief Customer Officer at X (formerly Twitter), COO at Refinery29, and VP of Facebook Global Business Marketing . Independence and committee assignments for Ms. Personette were not disclosed in the 8-K or proxy as of her appointment date and will typically be detailed in the next proxy cycle .

Past Roles

External Roles

Board Governance

• LFST is a “controlled company” under Nasdaq rules and may rely on exemptions from certain governance requirements (majority independent board; fully independent comp and nominating committees) until it ceases to be controlled .
• Committees and current leadership (as of the 2025 proxy; Personette appointment occurred after proxy cutoff):
  • Audit Committee: Darren Black, Eric Shuey (Chair), and—post-annual meeting—Eric Palmer; Shuey is the audit committee financial expert .
  • Compensation Committee: Katherine Wood (Chair), Darren Black .
  • Nominating & Governance Committee: Jeffrey Rhodes (Chair), Darren Black, William Miller .
  • Quality & Compliance Committee: Teresa DeLuca (Chair), Robert Bessler, Seema Verma .
• 2024 engagement: Board met five times; each director attended at least 75% of aggregate Board and committee meetings; all directors attended the 2024 annual meeting .

Fixed Compensation

Performance Compensation

• LFST’s director compensation is primarily fixed cash plus time-based RSUs; performance metrics are not typically applied to director pay, though Ms. Personette’s 8-K references a time-and performance-based RSU agreement without disclosing specific metrics .
• Company pay-for-performance framework (executive bonus metrics) that directors oversee:

Actual 2024 performance: Adjusted EBITDA $120M (150%), Revenue $1,251M (124%), Free Cash Flow $86M (127%), Patient Satisfaction 85 (125%) .

Other Directorships & Interlocks

Expertise & Qualifications

• Customer experience, revenue operations, and marketing leadership across media/technology sectors .
• Strategic alignment with LFST’s patient-centric care focus per CEO commentary at appointment .

Equity Ownership

Governance Assessment

• Strengths:

  • Appointment adds consumer-focused expertise that aligns with LFST’s stated strategy to streamline the patient journey; may enhance board oversight of growth and customer engagement .
  • Director compensation policy size and structure are transparent; annual cash plus equity with change-of-control vesting clearly disclosed .

• Watch items / potential red flags:

  • Controlled company status reduces requirements for majority independent board and fully independent comp/nominating committees; investors should monitor independence and board effectiveness as ownership shifts .
  • Sponsor Investor nomination rights (TPG, Summit, Silversmith) shape board composition; governance risks include potential influence over director selection and transactions; audit committee reviews related-party transactions per policy .
  • Director RSUs fully vest on change of control (alignment vs. entrenchment trade-off); investors should assess whether equity design for directors incentivizes long-term value without undue focus on transaction outcomes .
  • Committee assignments and independence determinations for Ms. Personette were not disclosed at appointment; clarity expected in next proxy or subsequent filings .

• Attendance/engagement baseline: 2024 board activity met attendance policy; Ms. Personette’s tenure began post-2025 proxy cutoff, so her attendance and committee participation will be assessed in future filings .

Related Party Transactions & Conflicts

• LFST discloses a Related Person Transactions Policy administered by the Audit Committee; 2024 transactions include a payment to TPG Capital BD, LLC for debt arrangement/structuring on the credit agreement; no transactions involving Ms. Personette disclosed to date .
• No loans, related-party exposure, or business dealings involving Ms. Personette or her affiliated entities disclosed as of her appointment .

Director Compensation Summary Table (for context)

Sarah Personette Appointment & Grant Table

Insider Trades

• Section 16 filings for Ms. Personette were not included in the April 2025 proxy (pre-appointment); her Form 3/Form 4 disclosures post-appointment were not referenced in the 8-K or proxy excerpts provided. Investors should monitor EDGAR for subsequent Form 3/4 filings .