Julie Bornstein
Director at SG
Board
About Julie Bornstein
Julie Bornstein, age 55, has served as an independent director of Sweetgreen (SG) since May 2021. She is co-founder and Chief Executive Officer of Daydream (since July 2023), previously served as an executive at Pinterest through January 2023 and advisor through June 2023 after Pinterest acquired THE YES, which she founded and led (2018–2022). Prior roles include Chief Operating Officer at Stitch Fix (2015–2017) and Chief Marketing Officer/Chief Digital Officer at Sephora LVMH (2007–2015). She holds a B.A. and an M.B.A. from Harvard University .
Past Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| Daydream | Co-founder & CEO | Jul 2023–present | Venture-backed startup leadership |
| Executive (until Jan 2023); Advisor | Jan 2023–Jun 2023 | Joined via THE YES acquisition | |
| THE YES | Founder & CEO | Jan 2018–Jun 2022 | Built personalized shopping app; sold to Pinterest |
| Stitch Fix | Chief Operating Officer | Mar 2015–Sep 2017 | Scaled operations/product at online retailer |
| Sephora (LVMH) | Chief Marketing Officer & Chief Digital Officer | Aug 2007–Mar 2015 | Led digital transformation |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Redfin Corporation | Director | Since Oct 2016 | Public company board |
| WW International | Director | Since Feb 2019 | Public company board |
Board Governance
- Independence: The Board affirmatively determined Bornstein is independent under NYSE standards; no material/disqualifying relationships found .
- Committees (FY 2024): Audit Committee (member); Nominating, Environmental, Social & Governance (NESG) Committee (member). Audit Committee chaired by Bradley Singer; Compensation Committee chaired by Cliff Burrows; NESG chaired by Valerie Jarrett (who did not stand for re-election in 2025) .
- Attendance: Each Board member attended at least 75% of aggregate Board and committee meetings in FY 2024; Board met 4x; Audit met 5x; Compensation met 6x; NESG met 3x .
- Lead Independent Director: Cliff Burrows presides over executive sessions of independent directors .
Fixed Compensation
| Component | 2024 Amount / Policy Detail | Source |
|---|---|---|
| Cash retainer (Non-employee director) | $50,000 (Bornstein actual FY 2024) | |
| Equity award (Annual RSUs) | $218,480 grant date fair value (Bornstein FY 2024) | |
| Total (FY 2024) | $268,480 (Bornstein) | |
| Policy: Annual cash retainer | $50,000; Lead Independent Director: $70,000 (in lieu of regular retainer) | |
| Policy: Committee chair retainers | Audit Chair: $20,000; Compensation Chair: $15,000; NESG Chair: $10,000 | |
| Policy: Annual RSU grant | $200,000 in fully vested RSUs at each annual meeting; proration for off-cycle appointments | |
| Deferral program | Directors may defer settlement of future Annual RSUs until specified dates/events |
Notes:
- Bornstein was not a committee chair in FY 2024; her cash retainer reflects the standard $50,000 for non-employee directors .
Performance Compensation
- Structure: Non-employee director equity compensation is delivered as fully vested RSUs at the annual meeting; no performance metrics are attached (time-based, fully vested) .
- Recent equity awards and vesting events (Form 4):
- 2025-06-12: Awarded 13,755 shares (A–Award), price $0, post-transaction holdings 46,392 shares .
- 2024-06-13: Awarded 6,485 shares (A–Award), price $0, post-transaction holdings 41,565 shares .
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlocks/Conflicts Noted |
|---|---|---|---|
| Redfin Corporation | Public | Director (since 2016) | None disclosed with SG customers/suppliers; Board still determined independence . |
| WW International | Public | Director (since 2019) | None disclosed with SG customers/suppliers; Board still determined independence . |
Expertise & Qualifications
- Deep operating experience in consumer, retail, and technology: prior CMO/CDO (Sephora), COO (Stitch Fix), founder/CEO (THE YES), CEO (Daydream) .
- Education: B.A. and M.B.A., Harvard University .
- Board’s stated rationale: qualified due to experience as founder/executive in consumer product and technology industries .
Equity Ownership
| Metric | Amount | Date/Detail | Source |
|---|---|---|---|
| Beneficial ownership (Class A) | 82,637 shares (includes options) | As of Apr 1, 2025 | |
| Direct Class A shares | 32,637 shares | As of Apr 1, 2025 | |
| Options exercisable within 60 days | 50,000 shares | As of Apr 1, 2025 | |
| % of Class A outstanding | Less than 1% | As of Apr 1, 2025 | |
| Shares pledged as collateral | None disclosed for Bornstein | As of Apr 1, 2025 | |
| Insider trading policy (hedging/pledging) | Hedging and trading derivatives prohibited; pledging requires approvals; founders permitted under capped policy (director not covered by founders’ exception) | Policy as of 2023–2024 |
Insider transactions (recent):
| Date | Type | Shares | Price | Post-Transaction Holdings | Source |
|---|---|---|---|---|---|
| 2025-06-12 | Award (A) | 13,755 | $0.00 | 46,392 | https://www.sec.gov/Archives/edgar/data/1477815/000141588925017300/0001415889-25-017300-index.htm |
| 2024-11-27 | Sale (S) | 2,900 | $41.86 | 34,201 | https://www.sec.gov/Archives/edgar/data/1477815/000141588924027904/0001415889-24-027904-index.htm |
| 2024-11-27 | Sale (S) | 1,564 | $42.57 | 32,637 | https://www.sec.gov/Archives/edgar/data/1477815/000141588924027904/0001415889-24-027904-index.htm |
| 2024-11-21 | Sale (S) | 4,464 | $40.00 | 37,101 | https://www.sec.gov/Archives/edgar/data/1477815/000141588924027471/0001415889-24-027471-index.htm |
| 2024-06-13 | Award (A) | 6,485 | $0.00 | 41,565 | https://www.sec.gov/Archives/edgar/data/1477815/000141588924017252/0001415889-24-017252-index.htm |
Stock ownership guidelines:
- Requirement: Non-employee directors must own stock equal to 5x the annual cash retainer (excludes chair/LID adders). Directors who joined before Feb 13, 2024 must meet this by the end of the calendar year containing their 5th anniversary; the company disclosed that for 2024 only Ms. Moon and Mr. Blumenthal were required to comply and both satisfied the requirement .
Governance Assessment
- Board effectiveness and engagement: Bornstein serves on the Audit and NESG Committees; the Board met 4x in FY 2024 with ≥75% attendance by all directors; committees met regularly (Audit 5x; Compensation 6x; NESG 3x), indicating active oversight cadence .
- Independence and conflicts: Independence affirmatively determined; no Bornstein-related party transactions disclosed; Audit Committee oversees related-party review; current related-party transactions involve founders/CFO and HQ lease structure, not Bornstein .
- Incentive alignment: Director compensation mix is balanced between cash retainer ($50,000) and equity (annual fully vested RSUs; $218,480 grant date fair value in FY 2024). She also holds 50,000 options, contributing to alignment via equity exposure .
- Ownership and policies: Beneficial ownership totals 82,637 shares as-of Apr 1, 2025 (including 50,000 options). Non-employee director stock ownership guideline (5x retainer) in place with specified compliance timelines; hedging prohibited, pledging restricted (founders-only exception) .
- Shareholder sentiment signal: 2025 say-on-pay advisory vote received 192,140,063 “FOR,” 826,328 “AGAINST,” 969,237 “ABSTAIN,” with 13,703,787 broker non-votes, indicating strong support for compensation practices overall .
- RED FLAGS: None identified specific to Bornstein. No related-party transactions, independence affirmed, attendance ≥75%, and no pledging disclosed for her holdings .