Shital A. Mehta
About Shital A. Mehta
Shital A. Mehta (also known as Alexandra Mysoor) is an independent director of Security National Financial Corporation, serving since 2021. She is 44 years old, holds a B.A. from the University of California, Berkeley, and is founder/CEO of Alix (fintech) and founder/chairwoman of Mysoor Industries; her board nomination highlights experience in administration, marketing, sales, and technology .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alix (fintech) | Founder & CEO | Not disclosed | Entrepreneurial leadership and technology/fintech expertise |
| Mysoor Industries | Founder & Chairwoman | Employed each of the past five years | Administration, marketing, sales, technology breadth |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alix (fintech) | Founder & CEO | Not disclosed | Estate planning and succession services platform |
| Mysoor Industries | Founder & Chairwoman | Employed each of the past five years | American conglomerate in manufacturing, media, technology, trading, investments |
Board Governance
- Independence: The Board affirmatively determined Mehta is independent under Nasdaq standards .
- Board meetings: The Board met five times in 2024; all directors attended except Ms. Love missed one (Mehta not listed among absences) .
- Lead independent director: Disclosure is inconsistent—one section says no lead independent director, while another designates H. Craig Moody as lead director for executive sessions; inconsistency should be resolved by the company (red flag) .
| Committee | Role | Chair | 2024 Meeting Count |
|---|---|---|---|
| Audit Committee | Member | Gilbert A. Fuller | 3 |
| Compensation Committee | Member | H. Craig Moody | 3 |
| Nominating & Corporate Governance Committee | Member | H. Craig Moody | 2 |
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 45,450 | — | 33,845 | 79,295 |
- Independent director fee structure: $43,200 annual cash retainer; $750 per day for certain management and audit committee meetings; annual grant of either options to purchase 1,000 shares or 241 RSUs; in 2024, an additional grant of 9,400 options or 2,268 RSUs at director’s election .
- Retirement compensation for outside directors equals one month director’s fee per year of service .
Performance Compensation
| Award Type | Vesting/Performance Conditions | Notes |
|---|---|---|
| Director stock options | Time-based vesting: 25% per quarter over one year from grant date | Applies to Outside Directors under the 2014 Director Plan |
| Director RSUs | Directors allowed vesting periods of less than one year starting March 2023 under 2022 Plan amendment | No director performance metrics disclosed |
No performance metrics (e.g., revenue growth, EBITDA, TSR) are disclosed for director equity awards; awards are time-vested (not performance-vested) .
Other Directorships & Interlocks
| Company | Ticker | Role | Interlock/Conflict Notes |
|---|---|---|---|
| None disclosed | — | — | No other public company directorships disclosed for Mehta |
Expertise & Qualifications
- BA, University of California, Berkeley (Interdisciplinary Field Studies)
- Founder/CEO experience in fintech (estate planning/succession), founder/chairwoman of a diversified conglomerate
- Board qualifications emphasize administration, marketing, sales, technology
- Independent committee service on Audit, Compensation, and Nominating/Governance
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | Class C Shares Beneficially Owned | % of Class C | Notes |
|---|---|---|---|---|---|
| Shital A. Mehta | 25,664 | <1% | — | — | Includes options to purchase 25,664 Class A shares currently exercisable |
- Options held: Disclosure elsewhere notes Mehta had options to purchase 33,464 Class A shares (total), suggesting 25,664 were currently exercisable at report date; remaining likely unexercisable or expired (company should reconcile totals) .
- No pledging/hedging disclosures specific to Mehta; insider trading policy imposes blackout periods and prohibits trading on material nonpublic information .
Governance Assessment
- Board independence and committee participation: Mehta is one of five independent directors and serves on three key committees (Audit, Compensation, Nominating/Governance), supporting oversight breadth .
- Attendance/engagement: Board met five times in 2024; Mehta is not identified among directors with missed meetings (positive signal) .
- Director compensation mix: 2024 compensation weighted toward time-vested options ($33,845) with cash fees ($45,450); she did not take stock awards, indicating preference for options and some market alignment via exercise price .
- Related-party transactions: No transactions involving Mehta disclosed; Audit Committee oversees RPT approvals per policy (positive) .
- Compliance: Company notes inadvertent late Section 16(a) filings for several insiders, but Mehta is not listed among late filers (positive) .
- Red Flags:
- Combined Chair/CEO with no lead independent director in one section, but a designated lead director in another—internal inconsistency in governance disclosures should be corrected .
- Family relationships across management and board (Quist family concentrations) may heighten conflicts; robust independent oversight is necessary (context for overall board risk) .
- Significant prospective dilution from the proposed 3,000,000-share addition to the 2022 Equity Incentive Plan (12.71% fully converted dilution), approved unanimously by the Board; Compensation Committee should articulate dilution management and award philosophy (investor concern) .
Overall, Mehta’s independence, multi-committee service, and absence of RPT or compliance exceptions support investor confidence. The company-level governance risks (lead director inconsistency, family ties, and equity plan dilution) warrant continued monitoring of committee rigor and disclosure clarity .