Maria Contreras-Sweet
About Maria Contreras-Sweet
Maria Contreras-Sweet (age 69) has served as an independent director of Regional Management Corp. since January 2018; she is Chair of the Corporate Governance and Nominating Committee and a member of the Human Resources and Compensation Committee. Her background includes service as the 24th Administrator of the U.S. Small Business Administration (2014–2017), founding/leading roles at ProAmerica Bank and Fortius Holdings, and prior California Cabinet Secretary roles overseeing multiple financial regulators; she is managing partner of Rockway Equity Partners and Contreras Sweet Companies . The Board determined she was independent in 2024, and all directors attended at least 75% of Board/committee meetings; the Board held 16 meetings and met in executive session quarterly, with an independent Chair presiding .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Small Business Administration | Administrator (24th) | 2014–2017 | Responsible for $132B loan portfolio |
| ProAmerica Bank | Founder; Executive Chairwoman | 2006–2014 | Built and led Hispanic-focused bank |
| Fortius Holdings, LLC | Co-Founder; Managing Partner | 2003–2006 | Financial services investment/operations |
| State of California (BTH Agency) | Cabinet Secretary | 1999–2003 | Oversaw 14 departments incl. Financial Institutions & Corporations |
| Westinghouse 7‑Up/RC Bottling | Senior Executive | Earlier career | Consumer operations leadership |
| Rockway Equity Partners; Contreras Sweet Companies | Managing Partner | Current | Private investment/strategic advisory |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TriNet Group, Inc. | Director | Current | Chairs Risk Committee; member Nominating & Corporate Governance |
| Zions Bancorporation, N.A. | Director | Current | Member Audit; Nominating & Corporate Governance |
| Sempra (formerly Sempra Group) | Director | 2017–May 2023 | Energy infrastructure oversight |
| Los Angeles World Affairs Council Town Hall | Chairman | Current | Civic leadership |
| Pan American Development Foundation | Board Member | Current | Non-profit governance |
| LARTA Institute | Distinguished Fellow | Current | Innovation ecosystem |
| Bipartisan Policy Center | Board Member | Current | Policy/governance |
Board Governance
- Committee assignments (2024): Corporate Governance & Nominating (Chair); Human Resources & Compensation (member); meeting counts (2024): CGN 5, HRCC 7; Board held 16 meetings with all directors ≥75% attendance; independent directors met in executive session quarterly .
- Independence: Board determined Ms. Contreras-Sweet was independent in 2024 under NYSE standards; no transactions or arrangements identified that would impair independent judgment .
- Investor feedback: At the 2024 Annual Meeting, Ms. Contreras‑Sweet’s election received ~73% support vs. >90% for other directors; 2024 say‑on‑pay received ~68% support; in response, the Board appointed Julie Booth in March 2025 to enhance gender diversity (independent directors now 78% of Board; 44% racially/ethnically diverse; 33% female) .
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 91,091 | 100,840 |
| Stock Awards ($) | 127,500 | 136,232 |
| Total ($) | 218,591 | 237,072 |
Director Compensation Program (structure):
- Board cash retainer $70,000; Chair/LID $95,000 .
- Committee member cash retainer $8,750; committee chair $17,500 .
- Annual equity (RSA) $110,000; Chair/LID $135,000; committee member equity $8,750; committee chair equity $17,500 .
- Cap: total cash + equity for any non‑employee director ≤$600,000 per 12 months; cash pro‑rated for mid‑year changes .
Performance Compensation
| Equity Grant | Grant Date | Shares Granted | Grant Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|---|
| Annual RSA | May 25, 2023 | 5,100 | 127,500 | 100% vests on earlier of 1‑year from grant or next annual meeting (≥50 weeks), subject to service; accelerates on death/disability or change in control |
| Annual RSA | May 23, 2024 | 5,027 | 136,232 | 100% vests on earlier of 1‑year from grant or next annual meeting (≥50 weeks), subject to service; accelerates on death/disability or change in control |
- Options: Ms. Contreras‑Sweet had no option awards outstanding as of Dec 31, 2024 and Dec 31, 2023 .
- Performance metrics: Director equity awards are time‑based RSAs; no performance‑conditioned metrics disclosed for director compensation .
Other Directorships & Interlocks
| Company | Sector Overlap with RM | Potential Interlock/Conflict Considerations |
|---|---|---|
| TriNet Group, Inc. | HR/PEO services (no direct consumer lending overlap) | No related‑party transactions disclosed; independence affirmed by RM Board . |
| Zions Bancorporation, N.A. | Banking (adjacent to consumer credit ecosystem) | No RM‑related transactions disclosed; independence affirmed by RM Board . |
| Sempra | Energy infrastructure | Prior role ended May 2023; no RM conflicts disclosed . |
The Board’s independence review found no relationships or arrangements that would interfere with independent judgment for Ms. Contreras‑Sweet .
Expertise & Qualifications
- Financial services industry; executive management; entrepreneurship/operations; corporate finance; marketing/PR; human resources/executive compensation; technology/innovation; corporate governance; government affairs; regulatory/SEC compliance; risk management; business ethics .
- Honors include multiple honorary doctorates (Tufts, Whittier, Cal State Los Angeles) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Maria Contreras‑Sweet | 30,714 | <1.0% (*) | Outstanding shares 10,035,287 as of Apr 2, 2025 |
| RSAs held (as of 12/31/2024) | 5,027 | N/A | Time‑based restricted stock |
| Options (as of 12/31/2024) | 0 | N/A | None outstanding |
Stock Ownership & Retention Policy:
- Directors must hold 5x annual cash retainer; all directors (excluding Ms. Booth appointed 2025) were in compliance as of Dec 31, 2024 .
- Retain 50% of net shares from vesting/exercise for 12 months and until guidelines are met; policy covers executives and directors .
Governance Assessment
- Strengths: Independent director with deep public‑sector and financial services experience; chairs Nominating Committee and serves on Compensation Committee, directly influencing board composition, oversight of ESG/governance, and pay practices . Ownership alignment supported by 5x retainer guideline and retention policy; prohibitions on hedging/pledging add alignment controls . Attendance and executive sessions indicate regular engagement; independent Chair enhances oversight .
- Investor signals: 2024 support for her election (~73%) and say‑on‑pay (~68%) were notably lower, prompting investor outreach and board diversity actions (appointment of Julie Booth; board now 33% female, 44% racially/ethnically diverse, 78% independent) .
- Conflicts/related‑party exposure: No director‑specific related‑party transactions disclosed involving Ms. Contreras‑Sweet; independence affirmed by the Board’s review .
- RED FLAGS: Lower shareholder support vs. peers on her election and say‑on‑pay may reflect investor scrutiny of governance/comp practices; monitor 2025 voting outcomes and responsiveness to feedback .
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