Larisa Drake
SiteOne Landscape SupplyAbout Larisa J. Drake
Larisa J. Drake (age 53) has served as an independent director of SiteOne Landscape Supply since May 2019. She is Chief Experience Officer at Groundworks, LLC; previously EVP & Chief Marketing Officer at Equity LifeStyle Properties (11 years) and an officer at Discover Financial Services (14 years). She holds a B.S. from Northwestern University, an M.L.A. from The University of Chicago, and an M.B.A. from Kellogg School of Management . She is standing for re‑election as a Class III director at the 2025 annual meeting .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Groundworks, LLC | Chief Experience Officer | Current | North America’s leading foundation and water management solutions company |
| Equity LifeStyle Properties (REIT) | EVP & Chief Marketing Officer | 11 years | Led marketing and sales across 450+ communities |
| Discover Financial Services | Officer; marketing leadership | 14 years | Led marketing for Discover Card (3rd-largest U.S. card brand) |
| Leo Burnett | Advertising professional | Not disclosed | Early career role |
External Roles
| Category | Organization | Role | Committees/Impact |
|---|---|---|---|
| Operating role | Groundworks, LLC | Chief Experience Officer | Customer experience leadership |
| Public company boards | None disclosed | — | No other public directorships reported in proxy |
Board Governance
- Committee assignments: Nominating & Corporate Governance Committee member (not a chair) .
- Independence: Board determined Drake is independent under NYSE standards .
- Attendance: 100% attendance at Board and applicable committee meetings in FY2024; all directors attended the 2024 annual meeting .
- Board structure: Classified board moving to annual elections via proposed declassification over three years (subject to shareholder approval) .
- Executive sessions: Independent directors met in executive session at each quarterly Board meeting in 2024; regular committee executive sessions .
Fixed Compensation
| Component | Policy (Annual) | FY2024 Actual (Cash) |
|---|---|---|
| Board annual cash retainer | $85,000 | Included in $90,770 cash paid |
| Nominating & Corporate Governance Committee (member) | $7,500 | Included in $90,770 cash paid |
| Chair fees (N&G) | $22,500 (not applicable) | — |
| Meeting fees | Not specified in policy | — |
- FY2024 cash compensation: $90,770 (fees earned/paid in cash) .
Performance Compensation
| Grant Type | Grant Date | Units | Grant-Date Fair Value | Vesting | Settlement |
|---|---|---|---|---|---|
| RSUs (director annual grant) | May 7, 2024 | 865 | $135,061 | Earlier of first anniversary or day before next annual meeting (subject to service) | RSUs settle at earlier of vesting date, termination of Board service, or change of control (optional deferral available) |
| RSUs (prior year grant) | May 2023 | 878 | Not in 2024 total | Vested May 7, 2024 | Settled May 7, 2024; excluded from 2024 total compensation |
- Director equity program: Annual grant value of $135,000 in DSUs or RSUs depending on ownership guideline status; DSUs/RSUs vest as above; pro-rata vesting on early termination; full vesting on death, disability, or change of control .
- FY2024 stock awards recognized: $135,061 .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Other public company boards | None disclosed for Drake |
| Compensation Committee interlocks | HRC members (Isbell, Diaz, Dunbar) were independent; no insider participation; Drake is not an HRC member |
| Outside board service limits | Directors limited to service on four other public company boards |
Expertise & Qualifications
- Skills matrix indicates expertise in Marketing & Branding, eCommerce/Technology, and Construction/Building Products .
- Academic credentials: B.S. (Northwestern), M.L.A. (University of Chicago), M.B.A. (Kellogg) .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Beneficial ownership (shares) | 6,188 | As of Mar 14, 2025; includes director units described in footnotes |
| Ownership % of shares outstanding | <1% | “Less than one percent” per proxy (44,966,884 shares outstanding) |
| Breakdown (units counted as ownership) | 4,445 DSUs; 865 RSUs | Counts per footnote; RSUs/DSUs vested/immediately vest or vest May 7, 2025 |
| Right to acquire within 60 days | 865 shares | Via RSU vesting prior to May 7, 2025 |
| Director ownership guideline | 5x annual cash retainer | Non-employee director policy; all directors in compliance |
| Hedging/pledging | Prohibited; none pledged | Insider trading policy; no directors have pledged SiteOne stock |
Governance Assessment
- Alignment: Equity is the majority of Drake’s FY2024 compensation (equity $135,061 vs cash $90,770; ~60% equity, ~40% cash), promoting ownership alignment and long-term focus .
- Independence and engagement: Independent status, 100% attendance, and active N&G committee role support board effectiveness and investor confidence .
- Sustainability oversight: N&G charter formally oversees environmental stewardship and corporate responsibility; Board publishes SASB/TCFD-aligned IMPACT report—positive governance signal .
- Risk controls: Strong anti-hedging/pledging policy, director stock ownership guidelines, and robust clawback framework (for executives) mitigate incentive risk .
- Board accountability trend: Proposed declassification to annual elections increases shareholder oversight of directors over the next three years .
- Shareholder sentiment: Say-on-pay support exceeded 93% at the 2024 annual meeting—reflects broad investor approval of compensation design .
- Related-party exposure: No related person transactions in FY2024; N&G reviews any such transactions per policy—low conflict risk .
RED FLAGS
- None disclosed: No pledging, no related-party transactions, and full attendance reduce governance risk .
- Potential external overlap: Drake’s operating role at Groundworks involves adjacent industry (foundation/water management); proxy discloses no related-party dealings with SiteOne . Continuous monitoring advisable.