Erika Alexander
LA-Z-BOYAbout Erika Alexander
Erika L. Alexander (age 58) has served on La‑Z‑Boy’s board since 2021 and is an independent director. She retired from Marriott International in January 2025 after serving as Chief Global Officer, Global Operations (2021–Jan 2025) and previously Chief Lodging Services Officer, The Americas (2015–2020). Alexander brings deep global operations, sustainability, human capital, and consumer/brand expertise; she serves on La‑Z‑Boy’s Nominating & Governance Committee. She holds a BA from the University of Virginia and an MBA from George Mason University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Marriott International | Chief Global Officer, Global Operations | 2021 – Jan 2025 | Enterprise operations incl. quality, F&B, systems optimization, procurement, sustainability; climate strategy oversight experience |
| Marriott International | Chief Lodging Services Officer, The Americas | 2015 – 2020 | Regional operating leadership for The Americas |
| Marriott International | Various senior leadership roles, major brands | Prior years | Brand and operational leadership for several of Marriott’s largest brands |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Metro Atlanta Chamber of Commerce | Executive Committee Member, Board of Directors | Current (as disclosed) | External civic leadership role |
| Marriott International Board (committee) | Associate member, Inclusion & Social Impact Committee | 2020 – Jan 2025 | Exposure to ESG oversight at board level |
| CollegeTracks (non‑profit) | Board member | Current (as disclosed) | Education access non‑profit board service |
Board Governance
- Independence: The board determined all directors other than the CEO are independent; Alexander is independent .
- Committee assignments: Nominating & Governance Committee member; the committee held 4 meetings in FY2025 .
- Attendance: The board met 5 times in FY2025; each director attended at least 75% of board and committee meetings during their service; directors attended the 2024 annual meeting .
- Leadership structure: CEO became Chair in Dec 2024; independent Lead Director in place; executive sessions of independent directors at every board meeting .
- Related person transactions: None requiring disclosure since the beginning of FY2025 .
- Hedging/pledging: Company prohibits hedging and pledging by directors; anti‑hedging and anti‑pledging policies in place .
Fixed Compensation
| Fiscal Year | Annual Cash Retainer ($) | Committee/Chair Fees ($) | All Other ($) | Total Cash ($) | RSU Grant Value ($) | Total ($) |
|---|---|---|---|---|---|---|
| FY2024 | 100,000 | — (no chair roles disclosed) | 4,953 | 104,953 | 120,007 | 224,960 |
| FY2025 | 105,000 | — (no chair roles disclosed) | 4,983 | 109,983 | 135,015 | 244,998 |
- Program structure and changes (FY2025): Non‑employee director cash retainer increased to $105,000 (from $100,000) and annual equity grant value to $135,000 (from $120,000); Nominating & Governance Chair retainer increased to $15,000; other elements unchanged; FW Cook served as independent consultant for review .
Performance Compensation
| Grant Date | Award Type | RSUs Granted (#) | Grant Date Fair Value ($) | Vesting | Dividend Equivalents | Source |
|---|---|---|---|---|---|---|
| Aug 31, 2023 | Annual director RSU | 3,890 | 120,006.50 | Vests/settles in shares on 1‑year anniversary | Accrues and paid in cash upon vesting | |
| Aug 29, 2024 | Annual director RSU | 3,372 | 135,014.88 | Vests/settles in shares on 1‑year anniversary | Accrues and paid in cash upon vesting |
- Directors receive time‑vested RSUs only (no performance metrics or options); awards are settled in shares and carry dividend equivalents that accrue until vest .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed; skills matrix shows no “Other Public Company Board Experience” for Alexander . |
| Prior public company boards | Not disclosed . |
| Potential interlocks (customers/suppliers/competitors) | None disclosed; no related person transactions in FY2025 period . |
Expertise & Qualifications
- Skills matrix indicates experience in technology/digital, retail, consumer marketing, global perspective, sourcing/manufacturing, human capital management, and risk management .
- Biography emphasizes global operations, sustainability, and climate strategy oversight experience from Marriott .
- Education: BA, University of Virginia; MBA, George Mason University .
Equity Ownership
| As of | Shares Owned Directly/Indirectly (#) | RSUs Held by Non‑Employee Director (#) | Stock Options (60‑day exercisable) (#) | Total Beneficial Ownership (#) | Notes |
|---|---|---|---|---|---|
| Jun 27, 2025 | 8,472 | 5,809 | — | 14,281 | None of these shares pledged as security . |
- Stock ownership guidelines: Non‑employee directors must hold stock equal to 5x annual cash retainer; five‑year transition applies, and as of Apr 26, 2025, all non‑employee directors with 5+ years of service met guidelines; others are within the 5‑year transition window .
Insider trades (Form 4)
| Transaction Date | Type | Securities Transacted (#) | Post‑Transaction Ownership (#) | Security | Source |
|---|---|---|---|---|---|
| Aug 28, 2025 | Award (A) | 3,653 | 15,497 | Common Shares | https://www.sec.gov/Archives/edgar/data/57131/000189170725000004/0001891707-25-000004-index.htm |
| Aug 29, 2024 | Award (A) | 3,372 | 11,844 | Common Shares | https://www.sec.gov/Archives/edgar/data/57131/000005713124000087/0000057131-24-000087-index.htm |
| Sep 1, 2023 | RSU vesting/settlement (M‑exempt, acquire) | 4,582 | 8,472 | Common Shares | https://www.sec.gov/Archives/edgar/data/57131/000005713123000132/0000057131-23-000132-index.htm |
| Aug 31, 2023 | Award (A) | 3,890 | 3,890 | Common Shares | https://www.sec.gov/Archives/edgar/data/57131/000005713123000132/0000057131-23-000132-index.htm |
| Sep 1, 2023 | RSU conversion (M‑exempt, dispose) | 4,582 | — | Restricted stock units | https://www.sec.gov/Archives/edgar/data/57131/000005713123000132/0000057131-23-000132-index.htm |
Pattern: Annual RSU awards each late‑Aug aligned with director grant timing; 2023 RSUs vested one year later, converting to common stock, consistent with proxy vesting terms .
Governance Assessment
- Strengths for investor confidence: Independent status; active Nominating & Governance role; >75% attendance; no related‑party transactions; anti‑hedging/pledging policy; transparent director pay structure with market‑aligned increases for FY2025; and clear stock ownership requirements .
- Alignment and incentives: Director compensation is balanced between cash ($105k) and equity ($135k RSUs) with one‑year vesting, promoting share ownership; Alexander’s growing beneficial ownership (direct shares plus RSUs) aligns interests, and no pledging reduces risk .
- Capacity and expertise: Retirement from a demanding C‑suite role in Jan 2025 likely increases availability; her operational, sustainability, and human capital background complements board oversight needs (risk, ESG, brand/consumer) .
- Potential watch‑items: No other public board experience disclosed (limits external governance network breadth), though not a red flag given domain depth and committee service .
RED FLAGS
- None identified in disclosures: no attendance shortfalls, no related‑party transactions, no hedging/pledging, and no director pay anomalies reported .