Elizabeth Alcaine
About Elizabeth Alcaine
Elizabeth Alcaine (age 56) is an independent director of NextPlat Corp (NXPL), appointed to the Board for her healthcare sector experience. Her background includes service on the board of Progressive Care Inc. since July 2023, leadership in community governance, and entrepreneurial experience in veterinary telehealth; she holds an undergraduate degree from Miami Dade College .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Progressive Care Inc. (OTCQB: RXMD) | Director | Since July 2023 | Healthcare governance; adds industry domain knowledge |
| AskVetMD | Co-founder; later Consultant | Co-founder 2017–2022; Consultant in 2023 | Built telehealth platform; operational and sector insight |
| Miami Children’s Hospital Foundation | Advisory Committee Member | 2009–2018 | Community healthcare advisory |
| Coral Coast HOA Board | President | Current | Community leadership and governance |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Progressive Care Inc. | Director | Active as of July 2023 | Progressive Care became a wholly-owned subsidiary of NXPL following the 2024 business combination approval |
| Coral Coast HOA Board | President | Active | Community governance |
| AskVetMD | Consultant | 2023 | Former co-founder (2017–2022) |
| Miami Children’s Hospital Foundation | Advisory Committee | 2009–2018 | Prior non-profit advisory role |
Board Governance
- Independence: The Board determined all directors except David Phipps, Douglas Ellenoff, and Charles M. Fernandez are independent under Nasdaq Rules; Alcaine is independent .
- Committees: Alcaine serves on the Nominating Committee (members: Louis Cusimano—Chair, Rodney Barreto, Elizabeth Alcaine). The committee was independent, held no meetings in 2024, and acted by written consent once .
- Attendance and engagement: The Board met twice in 2024; each incumbent director attended at least 100% of Board and committee meetings held during their service period .
- Other committees: Audit (Barreto—Chair; 4 meetings in 2024), Compensation (Delgado—Chair; no meetings, acted by written consent once) .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | — | — | — | — | — |
- Policy: For 2024, non-employee directors (other than Mr. Barreto) received stock awards equivalent to $25,000, vesting over one year; Mr. Barreto received a $48,000 cash retainer .
- Note: Alcaine’s 2024 compensation shows $0 across categories, consistent with service commencement timing relative to the fiscal year .
Performance Compensation
| Year | Nonequity Incentive Plan Compensation ($) | Performance Metrics Disclosed |
|---|---|---|
| 2024 | — | None disclosed for directors |
- No director-level performance metrics (TSR, revenue, EBITDA, ESG) are disclosed for Alcaine’s compensation .
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Considerations |
|---|---|---|
| Progressive Care Inc. | Director | Progressive Care became a wholly-owned subsidiary of NXPL after 2024 shareholder approval; no specific related-party conflicts involving Alcaine disclosed . |
Expertise & Qualifications
- Healthcare sector experience; AskVetMD co-founder and consultant; community governance leadership; undergraduate degree from Miami Dade College .
- Board nomination rationale cites her extensive healthcare experience .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | Percent of Class | Basis |
|---|---|---|---|
| Elizabeth Alcaine (Director) | 60,566 | <1% (indicated by *) | Shares outstanding were 25,963,051 as of April 28, 2025 . No options/warrants footnote specific to Alcaine was disclosed . |
- Section 16 compliance: The company reports all Forms 3, 4, and 5 were timely filed for 2024 .
- Insider trading policy: Company prohibits trading on MNPI and maintains pre-clearance procedures; policy filed as exhibit to 2024 Annual Report .
- Pledging/hedging: No pledging or hedging by Alcaine disclosed .
Governance Assessment
-
Strengths:
- Independence: Alcaine qualifies as independent under Nasdaq standards .
- Attendance: 100% attendance among incumbent directors; supports engagement .
- Committee role: Active on Nominating Committee with responsibility for board composition and governance policies .
- Alignment: Holds 60,566 shares; while <1%, provides some alignment; Section 16 filings timely .
-
Observations / Potential RED FLAGS:
- Nominating Committee meeting cadence: No formal meetings in 2024 (acted once by written consent), which may indicate limited committee process rigor; consider monitoring for improved cadence post-2024 integration activities .
- Director compensation clarity: Policy indicates $25,000 stock awards for non-employee directors (other than Barreto), yet Alcaine shows $0 for 2024—likely timing-related but lack of explicit disclosure for her grant merits follow-up for 2025 practices .
- Ownership guidelines: No director stock ownership guideline disclosure identified in the proxy; absence can be a governance oversight risk (not necessarily a violation) .
-
Related-party exposure:
- Company-level related parties involve executives (Phipps family employees; Fernandez spouse employment; Next Borough Capital loan among entities including Fernandez and Barreto), but no related-party transactions involving Alcaine are disclosed .
-
Shareholder signals:
- 2024 Annual Meeting results: All director nominees (slate at the time) and say-on-pay were approved; supports general investor confidence in governance direction during the Progressive Care combination .
Overall, Alcaine brings healthcare expertise and independent oversight with full attendance and nominating committee participation. Focus areas for investors: monitor committee activity levels post-2024, confirm director equity grant practices for 2025, and watch for formalization of director ownership guidelines to enhance alignment .