David A. Peacock
STIFEL FINANCIALAbout David A. Peacock
David A. Peacock, age 56, is Stifel Financial Corp.’s Lead Independent Director, serving on the Board since 2017. He chairs the Compensation Committee and is a member of the Nominations & Corporate Governance Committee; he also serves as a director of Stifel Bancorp. Peacock is currently CEO of Advantage Solutions and previously held senior roles across consumer, retail, and agribusiness, including President of Anheuser-Busch and President/COO of Schnucks Markets, bringing deep operating and branding expertise to SF’s board. The Board has affirmatively determined he is independent under NYSE and SEC rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Advantage Solutions, Inc. | Chief Executive Officer | 2023–present | CEO leadership across consumer services; branding and market presence expertise applied to SF board oversight |
| Continental Grain Company | Director and Chief Operating Officer | 2021–2023 | Operational and governance experience; ties to Continental Grain elevate supply chain/operations insight |
| Post Holdings Corp. | Director | 2021–2023 | Public company board experience supports governance effectiveness |
| Schnucks Markets, Inc. | President & COO | 2017–2021 | Retail operations, logistics, and talent leadership relevant to risk and strategy at SF |
| Anheuser-Busch | President | 2008–2012 | Global consumer brand management; corporate governance and marketing expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Stifel Bancorp | Director | Current | SF bank subsidiary directorship; enhances board coverage of bank capital/liquidity oversight |
| Pink Ribbon Girls | Director | Current | Non-profit governance |
| Urban League of Metropolitan St. Louis | Trustee | Current | Community impact and stakeholder engagement |
| FMI – The Food Industry Association | Director | Current | Industry network and policy insight |
| NextUP | Director | Current | Talent and DEI-focused network |
| Post Holdings Partnering Corp. | Director | Past 5 years | SPAC/public directorship experience |
Board Governance
- Roles: Lead Independent Director; Chair, Compensation Committee; Member, Nominations & Corporate Governance; Director, Stifel Bancorp.
- Lead Independent Director mandate: authority to call/lead executive sessions, liaison to management, ex officio on committees, co-leads CEO evaluation and succession with Comp Chair; independent directors selected by and from independents.
- Independence: the Board determined Peacock is independent (NYSE/SEC standards, including for Compensation Committee).
- Board/Committee activity: Board met 9 times in 2024; executive sessions of independent directors held quarterly. Attendance by incumbent continuing directors of all Board and committee meetings exceeded 80%.
- Committee cadence: Compensation (6 meetings, all independent, no interlocks/insider participation), Nominations & Corporate Governance (4 meetings), Audit (10), Risk Management (6; cybersecurity-focused annual session).
Fixed Compensation
| Component | Amount | Detail |
|---|---|---|
| Annual cash retainer | $100,000 | Non-employee director cash retainer |
| Lead Independent Director cash | $30,000 | Additional cash retainer for LID role |
| Committee Chair cash | $30,000 | Additional cash retainer for Compensation Committee chair |
| Fees earned in cash (total) | $160,000 | Sum of retainer and role fees |
| RSU award (grant-date fair value) | $150,000 | Issued June 5, 2024; vests quarterly over one year |
| Total non-employee director compensation | $310,000 | Cash + RSUs |
Notes:
- Director equity grants vest quarterly over a one-year period; grant is the equivalent of $150,000 in stock units.
- Director stock ownership guideline: non-employee directors are expected to reach holdings of SF common shares of at least $400,000 (market value). Compliance status is not individually disclosed.
Performance Compensation
- Non-employee director equity compensation is time-based RSUs (quarterly vesting over one year); there are no performance-conditioned director equity awards, metrics, or bonus plans disclosed for directors.
| Equity Vehicle | Grant Date | Units/Value | Vesting | Performance Metrics |
|---|---|---|---|---|
| RSUs (stock units) | June 5, 2024 | $150,000 equivalent | Quarterly over one year | None (time-based only) |
Other Directorships & Interlocks
| Company/Entity | Role | Interlock/Notes |
|---|---|---|
| Continental Grain Company | Former Director & COO | Current SF directors include Lisa L. Carnoy (CFAO, Continental Grain) and Michael J. Zimmerman (Vice Chairman & Director, Continental Grain), implying network interlocks that can enhance information flow; Peacock’s service ended in 2023. |
| Post Holdings Corp. | Former Director | Consumer/food sector insights relevant to SF’s wealth and institutional client base; tenure ended 2023. |
| Stifel Bancorp | Director | Subsidiary directorship tightens oversight of bank capital/liquidity; complements updated committee charters. |
- Compensation Committee independence and consultant: The committee is entirely independent, with no interlocks/insider participation; it retains CAP as an independent consultant, with no conflicts per NYSE standards.
Expertise & Qualifications
- Entrepreneurial, corporate manufacturing, and marketing credentials; deep governance, branding, and market presence experience (Anheuser-Busch President; retail COO).
- Board leadership capability (Lead Independent Director); compensation and nominating governance expertise.
- Industry breadth (consumer/retail/agribusiness) adds risk management and stakeholder perspectives.
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficially owned shares | 23,064 | Includes 5,273 held by the David A. Peacock Revocable Living Trust |
| Stock units outstanding (unconverted) | 1,914 | Director RSUs outstanding at 12/31/2024 |
| Ownership as % of shares outstanding | ~0.022% | 23,064 / 103,033,074 shares outstanding as of April 7, 2025 (computed) |
| Shares pledged as collateral | None | Company policy prohibits pledging; insiders have not pledged shares |
Governance Assessment
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Strengths
- Independent Lead Director with clear authority, regular executive sessions, and active role in CEO evaluation/succession planning.
- Chair of a fully independent Compensation Committee with strong process, no interlocks/insider participation, and an independent consultant (CAP).
- Director compensation balanced with equity retainer, modest cash, and quarterly vesting—aligns with shareholder value and mitigates short-termism.
- Board risk oversight robust; cybersecurity receives dedicated committee focus annually; capital/liquidity oversight formally added to charters.
- Anti-hedging/anti-pledging policies and clawback policy for incentive-based compensation; no excise tax gross-ups; double-trigger CIC equity vesting norms.
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Watch items / potential conflicts
- Continental Grain network interlocks (Carnoy, Zimmerman current ties; Peacock prior tie) may create perceived information advantages; no related-party concerns disclosed for Peacock. Monitor for transactions or consulting relationships; none disclosed.
- Annual Meeting attendance by directors was 55% in 2024 (aggregate), not director-specific; engagement expectations should be reinforced.
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Shareholder confidence signals
- Strong say-on-pay support (>97% prior year), extensive shareholder outreach, and increased use of performance-based awards for executives.
- Clear director stock ownership guideline ($400,000 market value), though individual compliance status is not disclosed for Peacock.
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Overall view: Peacock’s independence, leadership, and committee roles support board effectiveness. His operating pedigree in large-scale consumer and retail environments complements SF’s risk and strategy oversight. Interlocks are primarily historical for Peacock and do not present a disclosed conflict; ongoing monitoring is prudent.