Laura Jacobs
About Laura P. Jacobs
Independent director of RadNet (RDNT), age 68, serving since 2020. Jacobs is a seasoned healthcare management consultant (30 years with GE Healthcare Partners/The Camden Group), a national expert on healthcare strategy and operations, and currently part-time Senior Advisor at Kaufman Hall; she also chairs Front Porch, a nonprofit retirement and affordable housing operator . She is independent under Nasdaq and SEC rules and serves on Audit and Compensation committees, chairing Nominating & Governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| GE Healthcare Partners / The Camden Group | Managing Principal; led U.S. healthcare management consulting (2015–2019); founding principal of predecessor The Camden Group | 1990–2020 | Led strategic, financial and operational redesign; compensation redesign; technology adoption and performance improvement for providers |
| Camden Group (predecessor to GE Healthcare Partners consulting) | Founding principal, executive leader | Through 2015 | Guided growth, integration, and aligned incentives for provider organizations |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Kaufman Hall (consulting division of Vizient) | Senior Advisor (part-time) | Current | Focus on healthcare strategy and performance |
| Front Porch (nonprofit retirement/affordable housing communities) | Chair | Current | Board leadership role |
Board Governance
- Independence: The Board determined Jacobs is independent under Nasdaq and SEC rules .
- Committee assignments: Audit Committee member; Compensation Committee member; Nominating & Governance Committee Chair . Compensation Committee Report lists her as a member; Audit Committee Report lists her as a member .
- Attendance: Board held 6 meetings in 2024; each director attended 100% of Board and applicable committee meetings . Audit Committee held 4 meetings; Compensation Committee held 4; Nominating & Governance took action by written consent once and held no meetings .
- Board leadership: CEO serves as Chair; David L. Swartz is Lead Independent Director and chairs executive sessions of independent directors .
- Related-party oversight: As Nominating & Governance Chair, Jacobs’s committee reviews and approves related-party transactions >$120,000 and handles director conflicts/independence determinations .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit | Member | 4 meetings |
| Compensation | Member | 4 meetings |
| Nominating & Governance | Chair | 0 meetings; 1 written consent |
Fixed Compensation
- Structure (non-employee directors; effective Jan 1, 2024): Annual cash retainer $85,000; Audit Chair $20,000; Compensation Chair $15,000; Nominating & Governance Chair $10,000; Lead Independent Director $30,000; Committee meeting fee $1,500 per meeting; Annual equity $160,000; max total per director $500,000 .
- 2024 actual for Jacobs: Cash fees $103,000; stock awards $159,994; total $262,994 .
| Component | Amount ($) | Source |
|---|---|---|
| Annual cash retainer | 85,000 | Structure |
| Nominating & Governance Chair retainer | 10,000 | Structure |
| Committee meeting fee (per meeting) | 1,500 | Structure |
| Annual equity compensation (grant-date value) | 160,000 | Structure |
| 2024 Fees Earned or Paid in Cash (Jacobs) | 103,000 | Actual |
| 2024 Stock Awards (Jacobs) | 159,994 | Actual |
| 2024 Total (Jacobs) | 262,994 | Actual |
Compensation peer advisor Pearl Meyer recommended 2024 changes; Board approved increases (cash retainer +$10k, Comp Chair +$5k, Lead Independent +$20k, equity +$35k) . Non-employee director compensation cap set at $500,000 annually per plan .
Performance Compensation
- No performance-based director compensation disclosed; equity grants are time-based restricted stock vesting at term end .
- 2024 equity grant: On June 13, 2024, each non-employee director received 2,591 restricted shares; grant-date value ≈$160,000 using June 12, 2024 close of $61.75; vesting at end of current term (at Annual Meeting) subject to continued service .
| Grant | Grant Date | Shares | Grant-Date Value ($) | Price Reference | Vesting |
|---|---|---|---|---|---|
| 2024 Director RS grant | 2024-06-13 | 2,591 | 160,000 | $61.75 close on 2024-06-12 | Vests at end of term (Annual Meeting), subject to service |
Other Directorships & Interlocks
- Public company boards: None disclosed for Jacobs .
- Nonprofit/other boards: Chair, Front Porch .
- Compensation committee interlocks: None for RadNet’s Compensation Committee (Jacobs member) .
| Category | Entity | Role | Note |
|---|---|---|---|
| Public company | — | — | No other public boards disclosed for Jacobs |
| Nonprofit | Front Porch | Chair | Retirement and affordable housing communities |
| Advisory | Kaufman Hall | Senior Advisor | Consulting division of Vizient |
| Interlocks (RadNet Comp Cttee) | — | — | No interlocks/insider participation |
Expertise & Qualifications
- Four decades in healthcare management consulting; national expert on healthcare trends, risk-based models, consumer expectations, governance, and performance optimization .
- Led strategy, operations, and financial performance improvement for physician organizations and complex health systems; authored publications and speaks on healthcare trends .
- Skills matrix denotes governance, financial, operations, human capital, industry knowledge, risk management across Board; Jacobs included among nominees .
Equity Ownership
- Beneficial ownership: 24,308 shares; includes 2,591 unvested time-based restricted stock; held via Jacobs Family Trust (Jacobs is co-trustee). Asterisk indicates <1% ownership .
- Options: Non-employee directors held no stock options as of year-end; Jacobs’s beneficial ownership includes only unvested restricted shares (and trust-held shares) .
- Hedging/pledging: Company prohibits hedging; pledging generally prohibited with limited exceptions by Chief Legal Officer; no pledges disclosed for Jacobs .
| Item | Shares/Status | Notes |
|---|---|---|
| Total beneficial ownership (Jacobs) | 24,308; <1%* | Held via Jacobs Family Trust; includes unvested RS |
| Unvested restricted stock (Jacobs) | 2,591 | Time-based RS; director grant |
| Stock options (Jacobs) | 0 | Non-employee directors had no options at YE 2024 |
| Pledged shares (Jacobs) | None disclosed | Company policy restricts pledging |
Governance Assessment
- Board effectiveness: Jacobs’s broad healthcare operator/consulting background aligns with RadNet’s services and strategic growth, and as N&G Chair she oversees nominees, governance policies, and related-party reviews—key for investor confidence .
- Independence and engagement: Confirmed independent; 100% attendance in 2024 alongside full Board; Audit and Compensation participation supports oversight breadth .
- Pay and alignment: Director pay mix is balanced between cash retainer and equity; Jacobs received $103k cash and ~$160k equity in 2024; equity vests with continued service, aligning interests without performance metrics; non-employee director pay capped at $500k .
- Compensation governance signals: Use of independent consultant Pearl Meyer and explicit cap mitigate pay inflation risk; no interlocks on Compensation Committee; clawback policy adopted Nov 2023 enhances discipline .
- RED FLAGS:
- Annual Meeting attendance: The company disclosed that none of the directors or stockholders attended the 2024 Annual Meeting; while not a breach, low AGM participation can be viewed negatively by some investors regarding shareholder engagement .
- Related-party transactions exist at company level (CEO/BRMG and HFB Heirs Trust II lease) but Jacobs’s N&G role provides oversight; no Jacobs-related transactions disclosed .
Overall, Jacobs adds healthcare operating and governance acumen, with strong committee presence (N&G chair; Audit and Compensation member) and full attendance. Pay structure is conventional with equity grants and reasonable cash retainers, and governance infrastructure (majority voting, clawback, independent consultant) is in place, supporting investor confidence .