Lawrence Anderson
About Lawrence Anderson
Lawrence Anderson, M.D. (age 68) has served on Southside Bancshares’ Board since 2010; his current term continues until the 2026 Annual Meeting . He founded Dermatology Associates of Tyler (medical director 1996–2012), later serving as Chief Medical Officer at Oliver Street Dermatology (2012–2016) and U.S. Dermatology Partners (through 2019). He holds degrees from Washington State University and the Uniformed Services University of Health Sciences and is a published author with multiple presentations and lectures .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Dermatology Associates of Tyler | Founder; Medical Director | 1996–2012 | Built and led clinical operations; healthcare leadership |
| Oliver Street Dermatology | Chief Medical Officer | 2012–2016 | Clinical governance and operational oversight |
| U.S. Dermatology Partners | Chief Medical Officer | Until 2019 | Executive leadership across a multi-site platform |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed for Dr. Anderson . |
Board Governance
- Independence: The Board is 93% independent and has determined all current directors other than the CEO to be independent; Dr. Anderson is listed as independent in committee rosters .
- Attendance: In 2024, each director attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 Annual Meeting .
- Committee assignments (Company): Chair, Innovation, Digital Banking & Information Technology; Member, Risk . Committee meeting counts in 2024: Board (14), Compensation (12), Innovation/Digital/IT (5), Corporate Governance & Nominating (4), Risk (5) .
- Committee assignments (Bank): Executive/Loan & Discount; Trust; Compliance/IT/CRA (membership indicated); ALCO not indicated for Dr. Anderson .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Innovation, Digital Banking & Information Technology (Company) | Chair | 5 |
| Risk (Company) | Member | 5 |
| Executive/Loan & Discount (Bank) | Member | 13 |
| Trust (Bank) | Member | 24 |
| Compliance/IT/CRA (Bank) | Member | 6 |
Fixed Compensation
- Program structure: Non-employee directors receive a $101,000 annual retainer; chairs receive additional retainers (Innovation/Digital/IT Chair: $7,500). At least 40% of the annual retainer must be taken in RSUs, with remaining cash paid quarterly; RSUs vest on the first anniversary of grant (with specified accelerated vesting and deferral options) .
- 2024 pay mix: Dr. Anderson elected a combination of cash and RSUs; he also received the chair retainer.
| Component | Amount | Notes |
|---|---|---|
| Annual director retainer (policy) | $101,000 | Program baseline for non-employee directors |
| Chair retainer (Innovation/Digital/IT) | $7,500 | Additional annual fee for chair role |
| Fees earned or paid in cash (2024) | $76,945 | Actual 2024 cash |
| Stock awards grant-date fair value (2024) | $50,492 | RSUs; grant dated May 15, 2024 per program schedule |
| Total (2024) | $127,437 | Cash + RSUs |
Performance Compensation
- Directors do not receive performance-based equity (e.g., PSUs) as part of the director program; equity is time-based RSUs that vest after one year. Minimum 40% of annual director retainer is paid in RSUs beginning with the 2024 Service Year; directors may elect up to 100% RSUs .
| Equity Element | Grant Date | Vesting | Value/Notes |
|---|---|---|---|
| RSUs (Director Program) | On/around first day of Service Year; 2024 grants valued at May 15, 2024 price | Time-based, vest at 1-year; deferral available | Dr. Anderson 2024 RSU fair value $50,492 |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed for Dr. Anderson |
| Interlocks (Comp Committee) | No executive officer committee interlocks reported for 2024; no reciprocal comp committee service noted |
| Related-party transactions | Company policy requires Board review/approval; director/officer loans follow Regulation O and are on market terms. No Dr. Anderson-specific related-party transactions disclosed; notable external vendor is Bosworth & Associates (another director’s firm) with 2024 premiums $1,245,807 and commissions $170,894 |
Expertise & Qualifications
- Healthcare executive leadership and governance; founder/medical director experience; finance/business knowledge; published author and lecturer .
- Board skills matrix lists attributes across executive experience and risk/strategic governance competencies for Dr. Anderson .
Equity Ownership
- Stock ownership policy requires non-employee directors to own at least 5,000 shares within 5 years; as of March 19, 2025, all current non-employee directors meet the requirement .
- Anti-hedging and anti-pledging: Company prohibits hedging, short sales, and pledging of Company securities by directors .
| Ownership Item | Amount | Notes |
|---|---|---|
| Total beneficial ownership | 17,817 shares | <1% of 30,409,265 shares outstanding |
| Held via spousal trust | 15,929 shares | Included in total |
| RSUs vesting within 60 days of record date | 1,888 shares | Included in total |
| Ownership guideline compliance | Yes | All current non-employee directors met guideline |
| Hedging/Pledging | Prohibited | Policy applies to directors |
Insider Trades
| Indicator | 2024 Status |
|---|---|
| Section 16(a) filings | Company reports certain late Form 4s for executives; Dr. Anderson is not listed among late filers for 2024 |
Governance Assessment
- Strengths: Independent status; chairing the Innovation/Digital/IT Committee supports oversight of digital strategy and technology risk; Risk Committee membership provides enterprise risk coverage; attendance thresholds met; Board-wide annual training and ESG/cyber engagement indicate active governance .
- Alignment: Required equity ownership and mandatory RSU component enhance alignment; anti-hedging/anti-pledging policy reduces misalignment risks; Dr. Anderson beneficially owns 17,817 shares, including RSUs imminently vesting, meeting director ownership guidelines .
- Conflicts: No related-party transactions disclosed for Dr. Anderson; Company maintains Board review process for related-party transactions and adheres to Regulation O for director/officer lending on market terms .
- RED FLAGS: None specific to Dr. Anderson identified in the proxy. Notable company-level items include external insurance relationships with a fellow director’s firm (disclosed, governed by policy) and general reliance on RSUs for director compensation (time-based, not performance-based) .