Aida Alvarez
StrideAbout Aida M. Alvarez
Aida M. Alvarez, age 76, has served on Stride, Inc. (LRN) Board since 2017 and is an independent director on the Nominating and Corporate Governance Committee. She holds a B.A. from Harvard College and brings financial and government oversight experience, including service as Administrator of the U.S. Small Business Administration (1997–2001) and Director of the Office of Federal Housing Enterprise Oversight (1993–1997) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Small Business Administration | Administrator; Cabinet member under President Clinton | 1997–2001 | Led SBA; federal program oversight |
| Office of Federal Housing Enterprise Oversight (OFHEO) | Director | 1993–1997 | Oversight of Fannie Mae and Freddie Mac financial safety and soundness |
| NYC Health and Hospitals Corporation | Executive roles (prior) | Not disclosed | Public health system experience |
| Bear Stearns & Co.; First Boston Corp. | Prior finance roles | Not disclosed | Financial markets experience |
External Roles
| Company/Institution | Role | Tenure | Notes |
|---|---|---|---|
| Fastly, Inc. | Director | Since Aug 2019 | Current public company board |
| Bill.com | Director | Since May 2022 | Current public company board |
| HP Inc. | Director | 2016–Apr 2025 | Former public company board |
| Wal-Mart Stores Inc. | Director | 2006–Jun 2016 | Former public company board |
| MUFG Americas Holdings Corp. and MUFG Union Bank N.A. | Director | 2004–2014 | Former banking boards |
| Zoosk, Inc. | Director | 2014–2019 | Former private company board |
| Oportun Financial Corp. | Director | 2011–Nov 2022 | Former public company board |
| Latino Community Foundation | Chair Emerita | Current | Philanthropy leadership |
Board Governance
- Independence: Board affirms all non-employee directors, including Alvarez, are independent under NYSE and SEC rules .
- Committee assignments: Alvarez is a member of the Nominating and Corporate Governance Committee (not Chair); committee met 4 times in fiscal 2025 .
- Board meeting cadence and attendance: Board met five times in fiscal 2025; each director attended at least 75% of Board and committee meetings to which assigned .
- Executive sessions: Independent directors meet in executive session at each regular Board meeting; Lead Independent Director chairs these sessions .
- Governance policies: Director stock ownership guidelines increased to 5x annual cash retainer effective July 31, 2025; anti-hedging/anti-pledging and short sales prohibition adopted in governance documents .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Annual Board cash retainer | $70,000 | $70,000 |
| Committee member fee (Nominating & Corporate Governance) | $10,000 member; Chair $15,000 (Chair only, not Alvarez) | $10,000 member; Chair $15,000 |
| Lead Independent Director premium | $25,000 (not applicable to Alvarez) | $50,000 (increased Feb 2025; not applicable to Alvarez) |
| Alvarez – Fees earned or paid in cash | $75,000 | $79,592 |
| Equity Grants (Directors) | FY 2024 | FY 2025 |
|---|---|---|
| Annual restricted stock grant value (directors) | $200,000 (approved increase to $250k effective at 2024 Annual Meeting) | $250,000 per director |
| Alvarez – Stock awards (grant date fair value) | $200,000 | $250,000 |
| Vesting for director RSAs | Full vest at earlier of 1 year or next Annual Meeting; accelerated on death/disability/change-in-control | Same vesting mechanics |
| Alvarez – Unvested shares outstanding (as of fiscal year-end) | 3,324 unvested restricted shares as of June 30, 2024 | 2,262 unvested restricted shares as of June 30, 2025 |
Notes:
- Alvarez’s FY25 cash fees reflect base retainer plus committee membership; Stride does not pay meeting fees .
- Directors may elect to defer cash/equity into DSUs, settled in stock or cash after service ends (Alvarez had unvested RSAs, not DSUs) .
Performance Compensation
- Stride does not use performance-based equity or bonus metrics for non-employee directors; Alvarez’s equity is time-based restricted stock vesting by the next Annual Meeting .
Other Directorships & Interlocks
- Current public boards: Fastly, Inc.; Bill.com .
- Former public boards include HP Inc. (through April 2025), Walmart, MUFG entities, Oportun .
- No compensation committee interlocks disclosed for fiscal 2025 (committee comprised of Fink, Knowling, Verbrugge, Lawrence; Alvarez not a member) .
Expertise & Qualifications
- Financial oversight and regulatory experience (OFHEO oversight of GSEs; SBA leadership) .
- Harvard College B.A.; selected for financial expertise and government experience contributing diverse perspectives .
Equity Ownership
| As-Of Date | Shares Beneficially Owned | Percent of Outstanding | Unvested RSAs Included |
|---|---|---|---|
| Oct 14, 2024 | 41,803 | <1% | Includes 3,324 unvested RSAs |
| Oct 14, 2025 | 44,065 | <1% | Includes 2,262 unvested RSAs |
- Stock ownership guidelines: Directors must hold shares equal to 5x annual cash retainer; all non-employee directors are compliant or within accumulation period .
- Policy prohibits hedging, pledging, and short sales of Stride securities .
Say‑on‑Pay & Director Election Outcomes
| Annual Meeting | Alvarez Election (For/Withheld/Broker Non‑Vote) | Say‑on‑Pay For | Say‑on‑Pay Against | Say‑on‑Pay Abstain | Broker Non‑Vote |
|---|---|---|---|---|---|
| Dec 7, 2023 | 34,753,849 / 1,895,647 / 1,979,998 | 33,715,882 | 2,519,857 | 413,757 | 1,979,998 |
| Dec 5, 2024 | 34,715,781 / 1,781,313 / 1,672,599 | 33,863,393 | 2,593,707 | 39,994 | 1,672,599 |
Governance Assessment
- Strengths: Clear independence, robust governance policies (ownership guidelines; anti‑hedging/pledging), consistent committee engagement (Nominating & Corporate Governance), and adequate attendance (≥75%) .
- Alignment: Director equity increases to $250k in FY25 and higher ownership multiple (5x cash) enhance alignment with shareholders; Alvarez holds unvested RSAs consistent with policy .
- Potential watch items: None disclosed specific to Alvarez; company policy addresses related‑party transactions with Audit Committee/Board review and prohibits director participation in approvals where they are related .