Latha Ramchand
INSPERITYAbout Latha Ramchand
Latha Ramchand, age 64, has served as an independent director of Insperity (NSP) since 2019. She is Executive Vice Chancellor and Provost at the University of Missouri (appointed August 2018), and previously served as Dean of the C.T. Bauer College of Business at the University of Houston (2011–2018) and Associate Dean from 2006. She holds a Ph.D. in Finance from Northwestern University (1993), an M.A. in Economics (1983), and a B.A. in Economics (1981) from the University of Bombay, and is described as a “certified financial analyst.” Her board tenure and academic leadership underpin expertise in fiscal oversight and complex organizational management .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Missouri | Executive Vice Chancellor & Provost | Aug 2018–present | Oversees enrollment, research expansion, fundraising; connects academic programs to industry/community needs |
| University of Houston (C.T. Bauer College) | Dean | 2011–2018 | Led growth, fiscal responsibility of academic enterprise and health centers |
| University of Houston (C.T. Bauer College) | Associate Dean | 2006–2011 | Academic administration, external engagement |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CFP Board of Standards | Advisory Board Member | 2019–2022 | Financial standards advisory experience |
Board Governance
- Committee assignments: Member, Finance, Risk Management & Audit Committee (FRMA); designated an audit committee financial expert under SEC rules .
- Independence: Board affirmed independence of all directors except CEO Paul Sarvadi and former executive Richard Rawson; Ramchand is independent .
- Attendance and engagement: Board met 6 times in 2024; all directors participated in at least 75% of Board/committee meetings where they served. FRMA met 9 times in 2024 .
- Lead Independent Director: Timothy T. Clifford; executive sessions chaired by the lead independent director as applicable .
- Governance policies: Strict prohibition on hedging and significant pledging of company stock; only Sarvadi and Rawson had limited pledges approved; no indication of pledging by Ramchand .
Fixed Compensation
- Structure: Annual Board cash retainer $85,000; FRMA committee member retainer $15,000; FRMA chair fee $25,000 (not applicable to Ramchand); no meeting fees .
- 2024 actual compensation (non-employee director): | Component | Amount (USD) | |---|---| | Fees Earned/Paid in Cash | $98,750 | | Annual Director Equity Award (unrestricted stock; recognized fair value) | $188,472 | | Total | $287,222 |
Performance Compensation
- Non-employee director equity is unrestricted common stock granted annually at fair market value ($190,000 for 2024, based on closing price prior to grant), not tied to performance metrics; shares are fully vested at grant .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes |
|---|---|---|---|
| None disclosed | — | — | Proxy does not list other public company boards for Ramchand |
Expertise & Qualifications
- Financial oversight and audit: Audit committee financial expert designation; Ph.D. in Finance; experience managing large, complex budgets in academia .
- Strategic and operational leadership: Led enrollment growth, research expansion, fundraising, and program-to-industry alignment as dean/provost .
- Market/customer insight: Experience with entrepreneurship and generational change relevant to Insperity’s client base .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Unvested RSUs | Options |
|---|---|---|---|---|
| Latha Ramchand | 11,442 | <1% | None (“—” in RSU table for directors) | None outstanding exercisable |
- Ownership guidelines: Non-employee directors must hold shares equal to 5x annual cash retainer; the company states all non-employee directors are in compliance or expected to be within applicable timeframes .
- Hedging/pledging: Company prohibits hedging and significant pledging; only Sarvadi and Rawson had limited pledges approved; no pledge disclosures for Ramchand .
Governance Assessment
- Strengths: Independent director with audit committee financial expert status; serves on FRMA where cybersecurity, data privacy, ESG, and long-term sustainability risks are overseen; Board reports robust meeting cadence and Ramchand’s committee had nine meetings in 2024, indicating active oversight .
- Alignment: Director pay mix balanced between cash retainers and equity; annual unrestricted stock supports alignment without complex performance metrics; stock ownership guideline (5x cash retainer) enhances alignment .
- Conflicts/related parties: Related party transactions disclosed for other directors/executives (Clifford, Rawson, Sarvadi) but none for Ramchand; no loans or related-party payments to entities associated with Ramchand disclosed .
- RED FLAGS: None disclosed specific to Ramchand (no attendance issues, no related-party transactions, no pledging, no hedging noted). Company-wide pledging approvals for CEO and former executive are notable but do not involve Ramchand .
Implication: Ramchand’s profile supports investor confidence in board risk oversight and financial governance, with low conflict risk and clear independence .