Jud Linville
MarqetaAbout Jud Linville
Judson “Jud” Linville, age 67, is Independent Chair of the Board at Marqeta (MQ) since June 2024, and has served as a director since 2020. He brings three decades of senior leadership in financial services, including CEO of Global Cards and Consumer Services at Citigroup (2010–2018) and President/CEO of Consumer Services at American Express (2006–2010). He holds a BA in Psychology from Lafayette College and a PsyD in Clinical Psychology from Drexel University College of Medicine . The Board has affirmatively determined he is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Citigroup, Inc. (NYSE: C) | CEO, Global Cards & Consumer Services | 2010–2018 | Led the largest global credit card franchise; ran digital, marketing, data/analytics across consumer lines |
| American Express Co. (NYSE: AXP) | President & CEO, Consumer Services | 2006–2010 | Executive leadership in consumer services; prior executive roles across International, Global Commercial Service, Service Delivery, Consumer Services (1989–2006) |
| General Atlantic LLC | Senior Advisor | 2019–2024 | Growth equity advisory; provides financial/technology perspectives |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Duke University, Fuqua School of Business | Board of Visitors | Current | Advisory oversight to business school leadership |
| Lafayette College | Board of Trustees | Current | University governance and fiduciary oversight |
Board Governance
- Independent Chair of the Board (appointed June 2024); presides over Board meetings, sets agendas with management, advises committee chairs, and facilitates communication among independent directors and management .
- Independence: Board determined Linville is independent under Nasdaq listing standards .
- Committee assignments: Member, Compensation Committee (2024–2025); formerly Chair, Compensation Committee (2022–2023) .
- Executive sessions: At regularly scheduled meetings, Board holds sessions without management and separate independent-director sessions; the Chair presides (previously as LID, he presided over independent sessions in 2023) .
- Attendance: In FY2024, each incumbent director attended at least 75% of Board and committee meetings; 13 Board meetings, Compensation Committee met 5 times .
Committee Roles by Year
| Year | Role | Committee | Notes |
|---|---|---|---|
| 2022 | Chair | Compensation | Committee independence per Nasdaq/SEC; Linville served as Chairperson |
| 2023 | Chair | Compensation | Listed as Chair in Compensation Committee Report |
| 2024 | Member | Compensation | LID and Compensation Committee member |
| 2025 | Member | Compensation | Independent Chair of Board; Compensation Committee member |
Fixed Compensation
| Metric | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Fees Earned or Paid in Cash ($) | $50,000 | $50,000 | $50,000 |
| Total Cash Retainer Policy (Board) | $50,000 | $50,000 | $50,000 |
Performance Compensation
| Element | Value | Vesting | Acceleration / Election | Notes |
|---|---|---|---|---|
| Annual RSU Grant | $200,000 | Vests in full on earlier of 1-year anniversary or next annual meeting, subject to service | Subject to full acceleration upon “sale event” under 2021 Plan | Non-employee director equity |
| LID RSU / Chairperson RSU | $50,000 | Same as Annual Grant | Same acceleration; in 2025, may elect cash in lieu if 5+ years service and ownership guideline met | LID (2024) → Chairperson (2025) grant structure |
| Initial RSU Grant (one-time) | $400,000 | Vests in 3 equal annual installments starting first anniversary, subject to service | Full acceleration upon “sale event” | Granted upon initial election |
Actual Director Equity Compensation Received
| Metric | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| RSUs ($ grant-date fair value) | $186,996 | $249,995 | $249,997 |
| Total ($) | $236,996 | $299,995 | $299,997 |
The Director Compensation Policy uses grant-date fair value under FASB ASC 718 and does not indicate performance metrics for director awards; grants are time-based and intended to align directors with shareholders .
Other Directorships & Interlocks
| Company/Organization | Role | Public Company? | Notes |
|---|---|---|---|
| None disclosed | — | — | No current public-company directorships disclosed for Linville |
| Duke Fuqua Board of Visitors | Member | No | Academic board |
| Lafayette College Board of Trustees | Member | No | Non-profit board |
- Network ties: MQ director Alpesh Chokshi previously held senior roles at Citigroup (2018–2023) and American Express (2001–2015), overlapping industry background with Linville; not a disclosed related-party transaction or board interlock with a competitor/customer .
Expertise & Qualifications
- Deep operating experience in cards, consumer banking, and digital/mobile transformation; prior leadership in data/analytics, marketing, and technology within large financial institutions .
- Academic credentials in psychology and seasoned perspective from growth equity advisory at General Atlantic .
Equity Ownership
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Class A Shares (count) | — | 21,371 | 100,021 | 150,322 |
| Class B Shares (count) | 600,000 | 600,000 | 600,000 | 600,000 |
| % of Class B | <1% | 1.1% | 1.09% | 1.77% |
- Stock ownership guidelines: Mandatory holding—non-employee directors must hold shares equal to 5.0x Board retainer by the later of February 2028 or five years from joining the Board; unvested RSUs/PSUs and unexercised options do not count. If not met, must hold 50% of after-tax shares from vesting/exercise until compliant .
- Hedging/pledging: Prohibited for directors; no derivative trading, short selling, margin purchases, or pledging permitted under Insider Trading Policy .
Governance Assessment
-
Strengths
- Independent Board Chair since June 2024 and long-serving independent director; clear separation of leadership and robust independent oversight .
- Consistent Compensation Committee leadership (Chair in 2022–2023; member thereafter), signaling engagement in executive pay governance; use of independent consultant Compensia for director pay design .
- Attendance: Meets or exceeds the 75% threshold; Board/committee cadence indicates active governance (13 Board meetings; 5 Compensation Committee in FY2024) .
- Alignment policies: Mandatory ownership guidelines and strict hedging/pledging prohibitions strengthen investor alignment and risk controls .
-
Potential concerns / monitoring points
- Cash-in-lieu election for Annual/Chairperson grants introduced in 2025 could modestly reduce equity alignment, though permitted only for directors with 5+ years of service who meet ownership guidelines .
- Industry network ties (e.g., Chokshi’s prior Citi roles) warrant routine independence monitoring, though Board re-affirmed independence after reviewing relationships and related-party transactions .
- No related-party transactions disclosed involving Linville; the only highlighted related-party item in 2024/2025 involves legal services via an executive spouse’s law firm, reviewed under policy and not involving Linville .
No red flags identified related to Linville’s independence, attendance, or related-party exposure. Continued focus should be on preserving equity alignment under the optional cash election, maintaining rigorous comp committee independence, and monitoring any evolving interlocks.