Verett Mims
About Verett Mims
Independent director at Sila Realty Trust since March 2022 (effective June 1, 2022); age 62. She is CFO at Blum Capital Partners (since 2020) and previously spent 18 years at Boeing in senior treasury and international finance roles; earlier, seven years in FX sales at Citibank, NationsBank, and Bank of Montreal. Education: MBA (Stanford GSB), MS Physics (MIT), BS Physics (Southern University). Selected for board service based on enterprise risk, accounting, and finance expertise.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Blum Capital Partners, L.P. | Chief Financial Officer | 2020–Present | Leads finance, operations, compliance, and tax; sources/manages corporate investments incl. hospitality/real estate |
| The Boeing Company | Director, International Finance; Assistant Treasurer, Global Treasury Operations | 2002–early 2020 | Oversaw FX, commodity, inflation hedging, cash investments, and global banking; implemented tech-driven process improvements |
| Citibank; NationsBank; Bank of Montreal | FX Sales/Advisory | ~7 years pre-2002 | Advised corporates on risk; developed CRM-like system; built profitable book |
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| Sunstone Hotel Investors | Director | Public company board | Current board service |
| Steppenwolf Theatre of Chicago | Director | Non-profit board | Current board service |
| Prior boards and civic orgs | Director/Advisor | Non-profit/Advisory | Arts & Business Council of Chicago; San Miguel Schools of Chicago; Illinois Student Assistance Commission; Southern University MBA Board of Advisors; Muntu Dance Theatre; Illinois Humanities |
Board Governance
- Independence: The Board determined Ms. Mims is independent under NYSE rules; all committee members are independent.
- Committee assignments: Audit Committee member (committee has three “financial experts,” including all members) and Compensation Committee member. Audit Committee met 4x in 2024; Compensation Committee met 5x in 2024.
- Attendance: Board held 6 meetings in 2024; each director attended 100% of Board and applicable committee meetings.
- Board leadership: Independent Chair (Jonathan Kuchin); Board holds executive sessions as part of each regularly scheduled meeting.
- Related-party oversight: Written Related Party Transactions policy with Audit Committee “disinterested members” approval; Company reported no related party transactions in 2024.
- Anti-hedging/shorting: Directors prohibited from hedging, short sales, derivatives, monetization, and holding Company securities in a margin account.
Fixed Compensation
| Component (Non-Employee Director) | Amount/Policy | Effective date | Notes |
|---|---|---|---|
| Annual cash retainer | $90,000 | 2024 (full year) | Applies to all independent directors |
| Audit Committee member fee | $12,500 (members); $25,000 (chair) | Effective July 1, 2024 (prior: $10,000; $20,000) | Ms. Mims is a member (not chair) |
| Compensation Committee member fee | $8,750 (members); $17,500 (chair) | Effective July 1, 2024 (prior: $7,500; $15,000) | Ms. Mims is a member (not chair) |
| Chair of the Board premium | $75,000 (was $50,000 pre‑7/1/24) | Effective July 1, 2024 | Not applicable to Mims |
| 2024 Director Compensation – Verett Mims | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 109,375 |
| Stock Awards (grant-date fair value) | 100,132 |
| All Other Compensation (dividends on unvested restricted stock) | 5,447 |
| Total | 214,954 |
Performance Compensation
| Equity Element | Grant date | Shares/Value | Vesting | Notes |
|---|---|---|---|---|
| Annual director restricted stock | July 2, 2024 | 4,849 shares at $20.65; $100,132 grant-date fair value | Vests over one year | Standard $100,000 annual grant for independent directors |
| Dividends on unvested restricted stock | 2024 | $5,447 | Cash dividends during vesting | Reported as “All Other Compensation” |
Director equity is time-based; no performance metrics are applied to director compensation grants.
Other Directorships & Interlocks
- Current public company board: Sunstone Hotel Investors (director). No disclosed interlocks between Sila directors and Sunstone.
- Compensation Committee interlocks: Company discloses none.
Expertise & Qualifications
- Finance and risk management: Assistant Treasurer at Boeing overseeing FX/commodity/inflation hedging, cash investments, and global banking infrastructure; enterprise risk and accounting experience cited in her selection rationale.
- Investment management: CFO at Blum Capital Partners with responsibility across finance, operations, compliance, and tax; manages corporate investments including hospitality/real estate.
- Education: MBA (Stanford), MS Physics (MIT), BS Physics (Southern University).
- Audit Committee financial expertise: All Audit members deemed “financial experts.”
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of record date Mar 20, 2025) | 10,535 shares; less than 1% of outstanding |
| Ownership guidelines | Directors: 4x annual cash retainer; retain 50% of net-after-tax equity awards until met; 5-year compliance window from becoming director. |
| Compliance status | As of filing, Ms. Mims (and Mss. Kirby, Behar; Mr. Flouhouse) not yet at guideline level but expected to comply within the allowed timeframe. |
| Hedging/pledging | Hedging, shorting, derivatives, and holding in margin accounts prohibited. |
Insider trades (Form 4)
| Transaction date | Filing date | Type | Shares | Price | Post-transaction holdings | SEC link |
|---|---|---|---|---|---|---|
| 2025-07-01 | 2025-07-02 | Award (A) | 4,260 | 0.00 | 14,795 | https://www.sec.gov/Archives/edgar/data/1567925/000162828025034020/0001628280-25-034020-index.htm |
| 2024-07-02 | 2024-07-03 | Award (A) | 4,849 | 0.00 | 10,535 | https://www.sec.gov/Archives/edgar/data/1567925/000162828024031132/0001628280-24-031132-index.htm |
Governance Assessment
- Strengths
- Independent director with dual committee service (Audit and Compensation) and recognized financial expertise; 100% attendance at Board and committee meetings in 2024.
- No related-party transactions reported for 2024; robust related party approvals framework.
- Balanced director pay with standard cash retainer plus one-year vesting restricted stock; anti-hedging and no-margin policy supports alignment.
- Board leadership by an independent chair; regular executive sessions.
- Watch items
- Not yet at ownership guideline level (within permitted five-year window from June 2022); continued progress expected.
- Director cash fee rates increased effective July 1, 2024 (Audit/Comp members and committee chairs; Board chair), modestly shifting cash mix—monitor pay design versus peers and investor sentiment.
- Contextual signals
- 2024 say-on-pay approval ~79% suggests adequate, though not overwhelming, investor support for executive pay practices; Compensation Committee (including Mims) should continue active investor engagement post‑listing.
Overall: Mims brings deep treasury, risk, and investment oversight experience, enhancing audit oversight and pay governance. Independence, full attendance, and standard director equity practices support investor alignment, with no conflict flags disclosed. Continued progress toward stock ownership guidelines is the key alignment milestone to watch.