Beatriz Assapimonwait
About Beatriz M. Assapimonwait
Independent Class I director of MSP Recovery, Inc. since 2022; age 63. Over 40 years in managed healthcare with senior leadership roles across Medicare Advantage operations and risk-bearing provider groups. Education: B.A. from Florida International University; certified in Healthcare Compliance (HCCA) and HIPAA Compliance (Kennesaw State University). Currently serves on MSPR’s Compensation Committee. Term expires at the 2026 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Humana Inc. | Regional President, South Florida | Until Aug 2021 | Led strategy and operations for all Medicare lines (HMOs/PPOs) in South Florida |
| Family Physicians of Winter Park, Inc. (acquired by Humana) | Chief Executive Officer | Dec 2016 – Jul 2019 | Led strategic and operational efforts for 22 primary care clinics (global risk model) |
| Aetna, Inc. | VP, Medicare Advantage Prescription Drug Plans | Nov 2014 – Nov 2016 | Medicare Advantage drug plan leadership |
| Innovacare Health | Chief Operations Officer | Jan 2014 – Oct 2014 | COO responsibilities across operations |
| Seven Stars Quality Healthcare | Founder & President | Jul 2013 – Dec 2013 | Founded and led quality-focused healthcare venture |
| Humana Inc. | Regional President, North Florida | Jan 2009 – Jun 2013 | Regional Medicare leadership |
External Roles
| Organization | Exchange/Ticker | Role | Tenure | Committees/Impact |
|---|---|---|---|---|
| CareMax Inc. | Nasdaq: CMAX | Director | Sep 2021 – Oct 2023 | Chair, Strategy & Operations Committee |
Board Governance
- Committee assignments: Compensation Committee member (not Chair). Audit and Compensation Committees are 100% independent; Board is 71% independent.
- Independence: Board has determined Ms. Assapimonwait is independent under Nasdaq/SEC rules.
- Attendance and engagement: Board held 12 meetings in 2024; each director attended at least 75% of Board and applicable committee meetings in 2024.
- Tenure/classification: Class I director; term expires at the 2026 annual meeting. Director since 2022.
- Leadership structure and practices: CEO serves as Chair; no Lead Independent Director; independent directors hold executive sessions without management; anti-hedging/anti-pledging policies in place; formal Insider Trading Policy with pre-clearance/blackouts.
- Compensation oversight quality: Compensation Committee engages Pearl Meyer as independent compensation consultant; Committee assessed independence and found no conflicts.
Fixed Compensation
| Component (Non-Employee Director) | 2024 Amount (USD) | Notes |
|---|---|---|
| Cash fees | $90,100 | Comprised of 30% of $237,000 annual retainer ($71,100) plus $19,000 Compensation Committee member fee |
| Stock awards | $165,900 | 70% of $237,000 annual retainer delivered in equity; no additional equity beyond retainer disclosed |
| Total | $256,000 | As reported for Ms. Assapimonwait in 2024 director compensation table |
- Structure: Non-employee directors receive a $237,000 annual retainer (30% cash/70% equity) plus committee fees ($25,000 Audit member or $35,000 Audit Chair; $19,000 Compensation member or $25,000 Compensation Chair).
- Payment timeliness signal: As of July 24, 2025, the Company had not remitted the remaining cash portion of Board compensation due June 30, 2025 (aggregate $80,750), to be satisfied when liquidity allows.
Performance Compensation
| Topic | 2024 Disclosure |
|---|---|
| Performance metrics tied to director compensation | None disclosed; director equity is part of fixed annual retainer |
| Option awards | None disclosed for directors in 2024 |
| Vesting schedules/dates for director equity | Not disclosed |
Other Directorships & Interlocks
| Company | Role | Tenure | Potential Interlock Considerations |
|---|---|---|---|
| CareMax Inc. (CMAX) | Director; Chair, Strategy & Operations Committee | Sep 2021 – Oct 2023 | Healthcare provider; no related-party transactions disclosed with MSPR in proxy |
No related-party transactions were disclosed involving Ms. Assapimonwait in the Company’s “Certain Relationships and Related Transactions” section.
Expertise & Qualifications
- Medicare Advantage leadership across multiple geographies; deep managed-care operations and risk-bearing provider experience.
- Compliance credentials (HCCA Healthcare Compliance; HIPAA Compliance), and pharmaceutical/MA-PD plan experience.
- Board skills matrix indicates experience in executive leadership, public company boards, healthcare, technology industry, and legal/regulatory matters.
Equity Ownership
| Metric | As of Jun 13, 2025 | As of Jul 9, 2025 |
|---|---|---|
| Class A Common Stock – shares | — | — |
| Class A Common Stock – % | * | * |
| Class V Common Stock – shares | — | — |
| Class V Common Stock – % | * | * |
- “—” and “*” denote none/less than 1% as reported. Beneficial ownership includes derivatives exercisable within 60 days; Ms. Assapimonwait is shown with no reportable holdings.
Governance Assessment
- Strengths for board effectiveness: Independent director with 40+ years of Medicare Advantage/operator expertise; active on Compensation Committee; Board committees (Audit, Compensation) are fully independent; independent compensation consultant retained; anti-hedging/pledging and robust insider trading policies in place.
- Alignment and incentives: 2024 pay mix is predominantly equity by policy (70% of retainer), but Ms. Assapimonwait reported no beneficial ownership as of June/July 2025, which weakens observable “skin-in-the-game” alignment pending any unvested/deferred units.
- Red flags and risk indicators (company-level governance environment):
- Liquidity stress evidenced by unpaid cash portion of director compensation as of June 30, 2025 (aggregate $80,750), potentially affecting director retention and independence perceptions.
- “Controlled company” status reduces formal independence requirements for certain committees (though Audit and Compensation are independent in practice).
- Concentration of power: CEO serves as Chair; no Lead Independent Director.
- Extensive related-party transactions (largely involving management and affiliates) heighten conflict oversight demands; none implicate Ms. Assapimonwait specifically per disclosures.
- Potential dilution and voting control dynamics from VRM Warrants/agreements (subject to stockholder approval and caps), a broader governance overhang not tied to Ms. Assapimonwait but relevant to investor confidence.
Overall: Ms. Assapimonwait brings material Medicare Advantage operating expertise and serves independently on the Compensation Committee. Key monitoring items for investors are her actual equity accumulation over time (to strengthen alignment), continued independence within a controlled-company context, payment timeliness of director cash fees, and oversight of related-party transactions and capital structure changes.