Anisa Kumar
About Anisa Kumar
Anisa Kumar, 49, has served as an independent director of Lulu’s Fashion Lounge Holdings, Inc. (LVLU) since November 2022 and is classified as a Class II director with a term running to the 2026 annual meeting . She is Chief Executive Officer at Narvar since September 2024 (previously Chief Customer Officer from November 2021 to September 2024) and holds an M.S. from the University of Bombay and an M.B.A. from the University of California-Davis . The Board has affirmatively determined she is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Levi Strauss & Co. | SVP & Managing Director, U.S. Direct to Consumer | Feb 2014 – Nov 2021 | Led U.S. DTC operations and strategy |
| Walmart.com | Senior operations, finance, and strategy roles | Aug 2009 – Jul 2014 | E-commerce operations and strategy |
| Target Corporation | Merchandising, marketing, and strategy finance team leadership | Over five years prior to Aug 2009 (dates not specified) | Cross-functional retail leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Narvar | Chief Executive Officer | Sep 2024 – present | Leads post-purchase experience platform |
| Narvar | Chief Customer Officer | Nov 2021 – Sep 2024 | Global implementation, customer success, support, strategy |
Board Governance
- Committee assignments and chair roles:
- Nominating & Corporate Governance Committee: Chair; joined Sep 4, 2024; met 4 times in 2024 .
- Audit Committee: Member; appointed Sep 4, 2024; met 15 times in 2024 .
- Compensation Committee: Member until Sep 4, 2024; committee met 5 times in 2024; independent consultant (Compensia) engaged with no conflicts identified .
- Technology & Innovation Committee: Chair in 2024; formed Jan 1, 2024 and dissolved Sep 4, 2024 (responsibilities redistributed to Audit); met 3 times in 2024 .
- Independence: Board majority independent; Audit, Compensation, and Nominating & Corporate Governance Committees are 100% independent . Board specifically determined Kumar meets Nasdaq independence requirements; Audit Committee independence affirmed .
- Attendance: The Board held 10 meetings in fiscal 2024, and all incumbent directors attended at least 75% of Board and applicable committee meetings .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Notes |
|---|---|---|
| 2023 | 57,500 | Standard director/committee retainers per program |
| 2024 | 72,500 | Retainers suspended Sep 5, 2024; one-time cash catch-up approved Mar 20, 2025 and paid Apr 16, 2025 to cover Q3–Q4 2024 |
Non-Employee Director Compensation Program structure:
- Annual cash retainer: $50,000 .
- Committee retainers: Audit Chair $20,000 / Member $10,000; Compensation Chair $15,000 / Member $7,500; Nominating & Corporate Governance Chair $15,000 / Member $7,500; Technology & Innovation Chair $15,000 / Member $7,500 .
- Directors may elect to receive cash retainers in RSUs; RSUs in lieu of cash are fully vested on grant .
- Retainer payments suspended Sep 5, 2024 until further notice; catch-up payment approved Mar 20, 2025 .
Performance Compensation
| Year | Stock Awards ($) (Grant-date fair value) | RSUs Unvested at FY Year-end (Count) | Performance Metrics |
|---|---|---|---|
| 2023 | 100,606 | 62,884 | None disclosed; director comp comprises cash retainers and RSU grants (no PSU/options metrics) |
| 2024 | 102,223 | 66,837 | None disclosed; director comp comprises cash retainers and RSU grants (no PSU/options metrics) |
Policy features supporting alignment:
- Insider Trading Compliance Policy prohibits hedging and use of instruments designed to offset stock declines .
- Clawback Policy adopted for executive incentive compensation (committee oversight; governance signal) .
Other Directorships & Interlocks
| Category | Entity | Role | Notes |
|---|---|---|---|
| Public company boards | None disclosed for Kumar | — | Biography lists executive roles but not other public directorships |
| Private/non-profit boards | Not disclosed | — | No additional board roles disclosed in proxy |
| Potential interlocks | Narvar | External employer | No related-party transactions between Lulus and Narvar disclosed; Audit Committee oversees related-person review |
Expertise & Qualifications
- Deep e-commerce, consumer/retail operations, implementation, and customer strategy background across Narvar, Levi’s DTC, Walmart.com, and Target .
- Committee leadership experience in governance, technology/cyber, and prior compensation work; audit committee membership affirms financial literacy .
Equity Ownership
| As-of Date | Shares Beneficially Owned | % of Outstanding | Shares Outstanding (reference) |
|---|---|---|---|
| Apr 17, 2024 | 61,524 | <1% | 41,326,868 |
| Apr 16, 2025 | 128,360 | <1% | 42,942,378 |
| FY 2024 year-end | Unvested RSUs: 66,837 | — | — |
Insider trades (Form 4):
| Filing Date | Transaction Date | Type | Shares Granted/Transacted | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|
| 2024-06-12 | 2024-06-11 | A (Award/Grant) | 55,556 | 139,641 |
Governance Assessment
- Board effectiveness: Kumar chairs Nominating & Corporate Governance and serves on Audit, aligning with her operational and strategy expertise; committee independence standards are met and governance processes (skills matrix, annual evaluations, ESG oversight) are formalized under her committee .
- Alignment: Compensation mix balances cash retainers and time-based RSUs; beneficial ownership increased from 61,524 (Apr 2024) to 128,360 (Apr 2025), with additional RSU grant activity in 2024, supporting skin-in-the-game without performance-linked metrics for directors .
- Independence and conflicts: Board affirms independence; no related-party transactions disclosed for Kumar; Audit Committee oversees related-person transactions and prohibits hedging under the insider policy .
- Attendance/engagement: All incumbents met ≥75% attendance; committees were active in 2024 (Audit 15, Comp 5, Nominating 4, Tech & Innovation 3), indicating sustained engagement during restructuring and cost actions (e.g., suspension of retainers) .
Red flags and watch items:
- No specific red flags disclosed relating to Kumar (no related-party transactions, pledging, or attendance shortfalls) .
- Watch: Concurrent CEO role at Narvar increases external time commitments; however, attendance thresholds were met and committee leadership remained intact .
- Board-wide note: Retainer suspension and later catch-up payment reflect cost actions; governance committees remained independent and active through changes .