Patricia Maryland
Surgery PartnersAbout Patricia A. Maryland, DrPH
Independent Class II director at Surgery Partners since February 2021; age 71 as of March 31, 2025 . Former Executive Vice President of Ascension and President & CEO of Ascension Healthcare (2017–2019), with prior senior leadership at Ascension (2007–2017) . Education: BS in applied mathematics (Alabama State), MS in biostatistics (UC Berkeley), Doctorate of Public Health (University of Pittsburgh) . The Board classifies her as independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ascension Healthcare | Executive Vice President; President & CEO | 2017–2019 | Led large national health system operations; recognized among Top 25 Women in Healthcare |
| Ascension Healthcare | President, Healthcare Operations & CEO | 2013–2017 | Oversaw operations; national leadership responsibilities |
| Ascension Michigan | Ministry Market Leader | 2007–2013 | Regional leadership across Michigan markets |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Various nonprofit/private/public boards | Director/member | Not disclosed | Has served on 25+ boards; specific current public boards not enumerated in proxy |
Board Governance
- Independence: Board determined Dr. Maryland is independent under Nasdaq standards .
- Committee memberships (current): Nominating & Corporate Governance Committee member; Compliance & Ethics Committee member .
- Chair roles: None disclosed for Dr. Maryland; current committee chairs are DeLuca (Compliance), Hendrix (Governance) and Turner (Audit) .
- Board attendance: 13 Board meetings in 2024; no director attended fewer than 75% of Board and applicable committee meetings .
- Years of service: Director since February 2021; Class II term ending at the 2026 annual meeting .
Fixed Compensation
| Component | 2024 Amount |
|---|---|
| Annual cash retainer | $100,000 |
| Committee membership fees | None disclosed (only chairs receive additional retainers) |
| Committee chair fees | Not applicable (not a chair) |
| Meeting fees | None disclosed |
| Total cash | $100,000 |
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant-Date Fair Value | Vesting Terms |
|---|---|---|---|---|
| Restricted Stock (Director annual grant) | June 1, 2024 | 6,170 shares | Included in $160,000 stock award | Vests in full on first anniversary of grant date |
Director equity grants are time-based; no performance metrics (PSUs/options) are used for non-employee director compensation .
Other Directorships & Interlocks
- Bain Capital’s influence: Bain Capital Investors beneficially owns ~39.0% of SGRY; Bain-affiliated directors (O’Reilly, Kaplan) receive no director pay, and Bain has registration rights under a Registration Rights Agreement amended in 2022 .
- No related-party transactions involving Dr. Maryland are disclosed; Audit Committee reviews and must approve any related person transactions .
Expertise & Qualifications
- Technical and administrative expertise in large-scale healthcare operations; multiple industry recognitions including Modern Healthcare Top 25 Women in Healthcare (multiple years) and Top 25 Minority Executives in Healthcare (2014) .
- Advanced quantitative and public health training (applied mathematics, biostatistics, DrPH in health services administration) .
Equity Ownership
| Metric | As of/Period | Value |
|---|---|---|
| Total beneficial ownership (shares) | March 31, 2025 | 17,722 shares; <1% of common stock outstanding |
| Director stock ownership guideline | As of March 31, 2025 | 5x annual retainer for non-employee directors |
| Guideline compliance status | As of March 31, 2025 | Not yet met (Dr. Maryland and Dr. Forese) |
| Unvested director restricted stock | December 31, 2024 | 6,170 shares (annual director grant) |
| Hedging/derivative restrictions | Policy prohibits hedging transactions for directors and employees |
Governance Assessment
- Positives:
- Independent director with significant health system leadership experience; active on Governance and Compliance & Ethics committees .
- Strong attendance culture; Board met 13 times in 2024 and all directors met minimum attendance thresholds .
- Director compensation structured as cash retainer plus time-based equity, aligning interests without introducing performance metric gaming risk .
- Robust related party transaction oversight by Audit Committee; explicit hedging prohibition enhances alignment .
- Shareholder support signals: Say-on-pay approval ~95% in 2024, indicating general investor confidence in governance and pay practices .
- Watch items / RED FLAGS:
- Stock ownership guideline shortfall: Dr. Maryland had not met the 5x retainer ownership guideline as of March 31, 2025 (no mandated deadline but retention of 50% of net shares required until compliant) .
- Concentrated ownership: Bain Capital’s ~39% stake and registration rights may influence governance dynamics; however, Board maintains majority independence and committee oversight of related-party matters .
Insider Trades
| Year | Section 16(a) Filing Compliance |
|---|---|
| 2024 | Company believes directors and officers complied with all filing requirements (no delinquencies) |