David King
About David King
David King (age 68) has served as Independent Chair of the Board of Privia Health Group, Inc. since 2021 and chairs the Nominating & Corporate Governance Committee while serving on the Compensation Committee. He is the Managing Member of KingMan LLC (since Dec 2021), previously an Operating Partner at Pritzker Private Capital (Aug 2020–Dec 2021), and former Chief Executive Officer of Laboratory Corporation of America Holdings (2007–2019), where he also served as Executive Chair (2009–2019) and Non‑Executive Chair (Nov 2019–May 2020). He holds a B.A., cum laude, from Princeton University and a J.D., cum laude, from the University of Pennsylvania Law School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Laboratory Corporation of America Holdings (LH) | Chief Executive Officer | 2007–2019 | Led major diagnostics platform; later Executive Chair (May 2009–Oct 2019) and Non‑Executive Chair (Nov 2019–May 2020) |
| Pritzker Private Capital | Operating Partner (Healthcare) | Aug 2020–Dec 2021 | Co-led healthcare sector activities |
| KingMan LLC | Managing Member | Dec 2021–present | Strategic consulting across healthcare stakeholders |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ZimVie, Inc. (ZIMV) | Director | Current | Medtech board experience |
| Novant Health | Board of Trustees | Current | Non-profit health system governance |
| Duke University Margolis Center for Health Policy | Advisory Board | Current | Health policy advisory role |
| Cardinal Health (CAH) | Director | Prior | Former board service |
| PATH | Director; Chair for 4 years | Prior; Chair completed Dec 2021 | Global health NGO leadership |
| American Clinical Laboratory Association | Chair | 2010–2014 | Industry association leadership |
| The Emily K Center | Director | Prior | Education non-profit |
Board Governance
- Roles: Independent Chair of the Board; Chair of Nominating & Corporate Governance Committee; Member of Compensation Committee .
- Independence: Board affirmatively determined King is independent under SEC and Nasdaq rules .
- Attendance: Board met five times in 2024; each incumbent director attended >75% of Board and relevant committee meetings; all directors attended the May 2024 annual meeting .
- Executive sessions: Non‑management and independent directors meet in regularly scheduled executive sessions presided over by the Chair of the Board .
- Committee activity (FY 2024): Audit Committee 7 meetings; Compensation Committee 5; Nominating & Corporate Governance Committee 5; one Audit/Compliance joint meeting .
- Governance updates: Compliance Committee Chair Patricia Maryland passed away Oct 24, 2025 (board refresh considerations) .
Fixed Compensation
| Component (2024) | Amount (USD) | Notes |
|---|---|---|
| Board Annual Cash Retainer | $75,000 | Standard non‑employee director retainer |
| Chair of the Board Retainer | $55,000 | Additional cash retainer for Board Chair |
| Nominating & Corporate Governance Committee Chair Retainer | $15,000 | Committee chair fee |
| Total Cash Fees — David King | $145,000 | Reported 2024 cash fees |
Non‑Employee Director Equity Program (policy terms):
- Annual RSU grant: target $200,000 divided by 30‑day trailing average share price at grant date .
- Initial RSU grant: prorated to $200,000 based on start date vs. annual meeting (in lieu of annual grant that year) .
Performance Compensation
| Grant | Grant Date | Type | Shares/Units | Grant Date Fair Value | Vesting/Performance Conditions |
|---|---|---|---|---|---|
| Annual Director Equity (reported) | 2024 | RSUs | 11,124 (unvested at 12/31/24) | $182,879 | Not specified in proxy for directors; performance metrics not disclosed |
| Form 4 Award | 2024-05-22 | RSU/Award | 11,124 | — | Post‑transaction ownership 33,916 shares (Form 4) |
| Form 4 Award | 2025-05-21 | RSU/Award | 8,396 | — | Post‑transaction ownership 42,312 shares (Form 4) |
Performance metrics table (director equity):
- RSU grants for non‑employee directors are described, but no specific performance metrics (TSR, EBITDA, etc.) are disclosed for director equity awards; proxy focuses performance metrics on executive officers. Not disclosed for directors .
Other Directorships & Interlocks
| Company | Relationship to PRVA | Potential Interlock/Conflict |
|---|---|---|
| ZimVie, Inc. (ZIMV) | External public board | Different subsector (medical devices); no interlock with PRVA executives noted; Compensation Committee interlocks section reports none involving PRVA executives |
| Cardinal Health (CAH) | Prior external public board | Prior role; no current PRVA interlock disclosed |
| Novant Health; Duke Margolis Center; PATH; ACLA; Emily K Center | Non‑profit/association roles | Governance roles; no PRVA related‑party exposure disclosed in proxy sections reviewed |
Expertise & Qualifications
- Skills: Leadership; Public company executive/board experience; Healthcare industry; Finance/Capital Markets; Strategic planning/M&A; Cybersecurity/Technology; Government & Regulatory; Legal/Compliance; Corporate Governance .
- Education: Princeton University (B.A., cum laude); University of Pennsylvania Law School (J.D., cum laude) .
Equity Ownership
| Measure | Value |
|---|---|
| Beneficial Ownership (as of March 1, 2025) | 22,792 shares; less than 1% of outstanding |
| Unvested RSUs (as of Dec 31, 2024) | 11,124 RSUs |
| Post‑Award Ownership (May 22, 2024 Form 4) | 33,916 shares |
| Post‑Award Ownership (May 21, 2025 Form 4) | 42,312 shares |
| Anti‑Hedging/Pledging | Hedging and pledging of company stock prohibited for directors |
| Stock Ownership Guidelines (Directors) | 5× annual cash Board retainer ($75,000), compliance within five years; all directors compliant or within period |
Director Compensation Mix (2024)
| Component | Amount (USD) |
|---|---|
| Cash Fees | $145,000 |
| Equity (RSUs; ASC 718 grant‑date fair value) | $182,879 |
| Total | $327,879 |
Compensation Committee Analysis
- Committee composition: Adam Boehler, Pamela Kimmet (Chair), David King, David Wichmann; all independent under SEC/Nasdaq heightened standards .
- Independent consultant: Korn Ferry engaged since Sept 2021; committee determined no conflicts of interest and maintains annual independence review .
- Meetings: Compensation Committee held five meetings in FY 2024 .
Related Party Transactions & Policies
- Policy: Audit Committee reviews/approves related person transactions based on commercial reasonableness, benefit to the company, materiality, and conflicts; indemnification agreements in place for directors/officers .
- Review note: No related‑party transactions involving David King were indicated in the sections reviewed; Audit Committee also reviews material related party transactions .
Say‑on‑Pay & Shareholder Feedback (2025 Annual Meeting)
| Item | Outcome | Votes For | Votes Against | Abstentions | Broker Non‑Votes |
|---|---|---|---|---|---|
| Say‑on‑Pay (NEO compensation) | Approved | 105,145,830 | 1,431,629 | 41,566 | 4,768,808 |
| Director Elections (Class III) | All three nominees elected | See counts per nominee | — | — | 4,768,808 |
Governance Assessment
- Strengths: Independent Chair; clear leadership over executive sessions; strong meeting cadence and attendance; robust director ownership guidelines (5× retainer) with anti‑hedging/pledging; committee independence; use of independent compensation consultant without conflicts; meaningful healthcare, governance, and finance expertise .
- Alignment: Mix of cash and equity with recurring RSU awards; beneficial ownership increasing with 2024 and 2025 RSU awards; unvested RSUs indicate continuing alignment .
- Potential red flags: Concentration of governance roles (Board Chair plus Nominating & Corporate Governance Chair and Compensation Committee member) warrants ongoing monitoring for overboarding/role concentration, though company policy limits outside public boards and committee independence is maintained; no related‑party transactions identified in reviewed sections .
- Observations: Board structure is classified with continuity rationale; continued refresh expected; Compliance Committee chair’s passing in Oct 2025 implies near‑term committee reconstitution considerations but does not reflect on King’s independence or attendance .