Sarfraz Maredia
About Sarfraz Maredia
Age 42; independent Class I director of Serve Robotics Inc. since July 2023, with term expiring at the 2027 annual meeting . He is Vice President for Delivery and Head of Americas at Uber, leading Uber Eats across the U.S., Canada, and Latin America; prior roles include VP Corporate Development at IQVIA (2011–2014), management consultant at Bain & Company, and investor at TPG and Dodge & Cox; B.S. in Finance from the University of Texas at Austin .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| IQVIA (formerly IMS Health) | Vice President, Corporate Development | Sep 2011 – Sep 2014 | Corporate development leadership |
| Bain & Company | Management Consultant (technology clients) | Not disclosed | Strategy/operations advisory experience |
| TPG | Investor (Private Equity) | Not disclosed | Investing background |
| Dodge & Cox | Investor (Public Markets) | Not disclosed | Public market investing background |
External Roles
| Company | Role | Start | Notes |
|---|---|---|---|
| Uber Technologies (Uber Eats) | VP, Delivery; Head of Americas | Sep 2014 – present | Leads largest segment of Uber Eats across U.S., Canada, LATAM; oversees Postmates |
Board Governance
- Independence: The Board determined all directors other than CEO Ali Kashani and COO Touraj Parang are independent; this includes Maredia .
- Committee assignments: None. Audit Committee (Goldberg, Chair; Sarafan; Vincent), Compensation Committee (Vincent, Chair; Sarafan), Nominating & Governance (Goldberg, Chair) .
- Attendance: Each incumbent director except Sarfraz Maredia attended at least 75% of Board and applicable committee meetings in FY2024 (i.e., Maredia fell below 75%) .
- Board structure: Combined Chair/CEO role (Ali Kashani); Audit oversees cyber risk and related-party transactions; Compensation oversees pay policies .
- Anti-hedging/10b5-1: Company prohibits hedging by directors and maintains a Rule 10b5-1 plan policy .
RED FLAG: Below 75% attendance in FY2024 indicates engagement risk .
POTENTIAL CONFLICT: Senior operating role at Uber (strategic partner and significant holder via Postmates) creates related-party exposure despite independence determination .
Fixed Compensation
| Component (FY2024) | Amount |
|---|---|
| Annual Board Retainer (cash) | $0 (SERV’s policy pays non-employee directors except Maredia) |
| Committee Fees (cash) | $0 (no committee roles) |
| Equity – Annual RSU grant | $0 (policy excludes Maredia) |
| Option Awards | $0 (none granted/paid in 2024) |
| Total Director Compensation | $0 (Maredia shows “—” in 2024 Director Compensation Table) |
Policy reference: Amended and Restated Outside Director Compensation Policy (effective Nov 26, 2024) grants $20,000 board retainer + $5,000 per committee, and 20,000 RSUs annually to non-employee directors—explicitly excluding Maredia; he receives no director compensation .
Performance Compensation
| Performance-linked Director Pay | Structure/Metrics |
|---|---|
| Equity with performance metrics (PSUs/targets) | Not disclosed for directors; Maredia received no RSUs/options for board service in 2024 |
Company-wide equity plan allows performance-based awards, but not applicable to Maredia’s director compensation in 2024 .
Other Directorships & Interlocks
| Entity | Relationship | Details/Exposure |
|---|---|---|
| Uber Technologies Inc. / Postmates LLC | Strategic partner and significant stockholder; Maredia is an Uber VP | Master Framework Agreement (effective Sep 3, 2021; term to Feb 24, 2027, auto-renew) to provide delivery robots for Uber deliveries; Project Plan #2 targets deployment of up to 2,000 robots in multiple U.S. cities . Postmates purchased 1,125,000 shares in Mar 2024 offering ($4.5M); a $500,000 Postmates convertible note converted into 210,025 shares at $2.42 on Apr 22, 2024 . |
| Other public company boards | None disclosed | No current or prior public company directorships for Maredia in proxy biography . |
GOVERNANCE NOTE: Audit Committee oversees related-party transactions; RPT policy oversight formalized post-merger .
Expertise & Qualifications
- Marketplace and delivery operations: Leads Uber Eats Americas; oversight of Postmates integration and scale .
- Finance and dealmaking: VP Corporate Development at IQVIA; prior PE/public markets investing (TPG; Dodge & Cox) and Bain consulting—useful for strategy and capital allocation oversight .
- Education: B.S. Finance, University of Texas at Austin .
Equity Ownership
| Item | Value |
|---|---|
| Total Beneficial Ownership (shares) | — (none reported) |
| Ownership % | — (not a 1%+ holder) |
| Vested vs. Unvested | Not disclosed (no director equity awards granted to Maredia) |
| Pledged/Hedged | Hedging prohibited by policy; no pledging disclosed |
Governance Assessment
- Alignment: Maredia receives no director cash retainer or equity; while this mitigates direct compensation conflicts, it also reduces ownership “skin-in-the-game” relative to standard director RSUs, which may weaken alignment with minority shareholders .
- Independence vs. influence: Board deems him independent, but his senior operating role at Uber—SERV’s critical commercial partner and significant indirect holder via Postmates—creates ongoing related-party exposure (commercial contracts, financing participation). He holds no committee roles, reducing conflict within oversight committees but also limiting formal governance influence .
- Engagement risk: Attendance below 75% in FY2024 is a material red flag for board effectiveness; continued monitoring of attendance and contributions is warranted .
- Controls and policies: Anti-hedging policy for directors and Dodd-Frank compliant compensation recovery policy in place (the latter primarily for executive officers), and audit committee now reviews related-party transactions—positive governance infrastructure given the Uber nexus .