Allison H. Mnookin
LPL Financial HoldingsAbout Allison H. Mnookin
Allison H. Mnookin, age 54, has served on LPL Financial Holdings Inc.’s Board since 2018 and is an independent director. She chairs the Compensation and Human Resources Committee and serves on the Nominating and Governance Committee; she is also a director of Bill Holdings, Inc. Her background spans 20+ years in technology and cloud software, including executive leadership at Intuit and QuickBase; she holds an A.B. with honors from Harvard College and an M.B.A. from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| QuickBase, Inc. | Chief Executive Officer | Apr–Nov 2016 | Led online application software provider after spin-off from Intuit |
| Intuit Inc. | VP & GM, QuickBase; various roles | 1998–2016 | General management in Small Business division; portfolio leadership for business products |
| Oracle Corporation | Sales and product marketing positions | Pre-1998 | Go-to-market and product marketing experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Harvard Business School | Senior Lecturer, Technology & Operations Management | Since Jul 2017 | Academic focus on tech/operations management |
| Bill Holdings, Inc. | Director | Current | Public company board; cloud-based back-office software for SMBs |
| Quartz Holding Company (QuickBase holding co.) | Director | Nov 2016–Apr 2019 | Board service during ownership period |
Board Governance
- Independence: The Board affirmatively determined Ms. Mnookin is independent under Nasdaq rules; all Board committees comprise exclusively independent directors .
- Committee leadership and responsibilities: As Compensation Committee Chair, she oversees executive compensation, succession planning, stock ownership guidelines, CI&B policies, and risk assessment; the committee met seven times in 2024 and retained Frederic W. Cook & Co. as independent compensation consultant . As a member of the Nominating & Governance Committee, she participates in director recruitment, proxy access oversight, ESG program oversight, and annual Board evaluation; the committee met four times in 2024 .
- Attendance and engagement: The Board held 12 meetings in 2024; each director attended at least 75% of Board and applicable committee meetings. All ten nominees attended the 2024 annual meeting (one via teleconference), consistent with guidelines expecting director attendance at annual meetings .
- Board practices: Majority voting with resignation policy; annual elections; proxy access; director retirement at age 75; clawback policies; anti-hedging/anti-pledging; director overboarding guardrails (≤4 public boards for non-CEOs). She is within overboarding limits (two boards) .
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 100,000 | Standard cash portion of $285k director retainer ($100k cash + $185k equity) |
| Compensation Committee – Chair fee | 25,000 | Paid quarterly in cash |
| Nominating & Governance Committee – Member fee | 10,000 | Paid quarterly in cash |
| Total cash fees earned (reported) | 135,000 | Matches 2024 Director Compensation table |
Performance Compensation
| Equity Element (2024) | Shares/Value | Vesting/Terms | Metrics |
|---|---|---|---|
| Annual restricted stock grant | 699 sh; $187,779 | Vests in full on May 21, 2025; carries voting/dividend rights | |
| Deferred stock units (vested) | 5,529 units | Issued from prior deferrals; payable at separation/change in control; dividend equivalents credited | |
| Deferrals elected in 2024 | None | No directors deferred 2024 retainers | |
| Performance metrics | Not applicable | Director equity is time-based RSUs; no performance conditions disclosed |
Other Directorships & Interlocks
| Entity | Type | Role | Interlocks/Notes |
|---|---|---|---|
| Bill Holdings, Inc. | Public | Director | No LPLA executive serves on BILL’s board; Compensation Committee reported no interlocks/insider participation among members |
| Quartz Holding Company | Private | Former Director | Historical role tied to QuickBase ownership |
- Compensation Committee interlocks: None; no LPLA executive serves on another company’s board/comp committee with a director reciprocally serving on LPL’s Comp Committee .
Expertise & Qualifications
- Technology/software operating executive; general management and product leadership in SMB-focused fintech and cloud platforms (Intuit, QuickBase) .
- Board-level compensation governance and succession planning experience (Compensation Committee Chair) .
- Academic grounding in technology and operations management (HBS Senior Lecturer) and strategic oversight of ESG via Nominating & Governance Committee .
Equity Ownership
| Ownership Detail (as of Mar 24, 2025) | Quantity | Notes |
|---|---|---|
| Shares directly/indirectly held | 4,904 | Beneficial ownership table |
| Right to acquire within 60 days (vested DSUs/options) | 5,529 | Vested deferred stock units |
| Total beneficial ownership | 10,433 | <1% of outstanding shares |
| Unvested restricted stock (as of Dec 31, 2024) | 699 | Vests May 21, 2025 |
| Ownership guidelines compliance | Yes | Minimum = 5x cash retainer; all non-employee directors met requirement |
| Pledging/hedging | Prohibited | Insider Trading Policy bans pledging/hedging |
Governance Assessment
- Committee leadership signal: As Compensation Committee Chair, Mnookin plays a central role in pay-for-performance alignment, clawback adoption, equity ownership guidelines, and succession oversight—favorable for governance quality and investor confidence .
- Engagement/attendance: Met Board’s attendance thresholds in a year with 12 Board meetings; active participation across committees (Compensation 7 meetings; N&G 4 meetings) supports board effectiveness .
- Alignment: Robust director equity ownership guidelines (5x cash retainer) with full compliance; annual equity grants vest time-based and reinforce alignment; anti-hedging/anti-pledging closes misalignment risk .
- Compensation structure: Director pay mix emphasizes equity (standard $185k RSU) plus role-based cash retainers; 2024 equity retainer increased by $30,000 to align to peer median—transparent benchmarking; no meeting fees and no performance metrics on director equity (typical market practice) .
- Conflicts/related party exposure: No related-party transactions disclosed involving Mnookin; Audit & Risk Committee oversees a formal related-party policy .
- Shareholder sentiment: Strong say-on-pay support (~97% approval in 2024), indicating broad confidence in compensation governance overseen by the Compensation Committee chaired by Mnookin .
RED FLAGS: None identified in proxy for Mnookin—no pledging/hedging, no related-party transactions, no interlocks, and attendance thresholds met .