William Borden
SoFi TechnologiesAbout William Borden
William A. Borden (age 62) is an independent director of SoFi Technologies, Inc., appointed in June 2024. He is Corporate Vice President, Worldwide Financial Services at Microsoft (NASDAQ: MSFT) since September 2019, with prior senior roles at Bank of America Merrill Lynch (2012–2019) and Citigroup (1998–2012). He holds a B.S. in Electrical Engineering from Cornell University and an MBA from Northwestern University’s Kellogg School of Management. The Board cites his financial services and banking technology expertise as his core qualification to serve .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Microsoft | Corporate Vice President, Worldwide Financial Services | Sep 2019–present | Financial services go-to-market leadership |
| Bank of America Merrill Lynch | Managing Director (Global Transaction Services, Equity Asset Management Services, Enterprise Payments) | Sep 2012–Sep 2019 | Executive roles across payments and services |
| Citigroup | Managing Director | Oct 1998–Sep 2012 | Leadership across financial services |
| RR Donnelley | Leadership positions | Pre-1998 | Not disclosed |
| IBM Consulting | Leadership positions | Pre-1998 | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| HUB (cloud technology solutions for data, trade and reporting) | Board Member | Jan 2021–present | Non-public descriptor in proxy |
| Diebold Nixdorf | Director | Oct 2021–Aug 2023 | Public company directorship concluded Aug 2023 |
| National Black MBA Association | Board Member | Jan 2018–Feb 2025 | Non-profit board service |
Board Governance
- Independence: The Board determined Mr. Borden is independent under SEC and Nasdaq standards .
- Committees: Member, Risk Committee; Member, Compensation Committee (added January 2025). No chair roles disclosed for Mr. Borden .
- Committee mandates: The Risk Committee oversees enterprise risk, IT and cybersecurity (including approving the Cyber Security Program), and BSA/AML program; it met four times in 2024 . Mr. Borden also signed the Compensation Committee Report with Chair Steven Freiberg and Clara Liang .
- Attendance: In 2024 the Board met 12 times; no director other than Mr. Schwartz attended fewer than 75% of aggregate Board and committee meetings during their service period .
- Leadership structure: Independent Board Chair (Tom Hutton), distinct from the CEO role .
- Compensation Committee interlocks: None reported for 2024–2025; Mr. Borden joined the committee in Jan 2025, and no interlocking relationships were disclosed .
Fixed Compensation
| Component | Policy/Amount | Notes |
|---|---|---|
| Annual cash retainer (Board member) | $50,000 | Paid quarterly; pro-rated for partial year |
| Committee member fees | Audit $12,500; Risk $12,500; Compensation $10,000; Nominating $7,500 | Annual rates; chair premia below |
| Committee chair fees | Audit $25,000; Risk $25,000; Compensation $20,000; Nominating $15,000 | Annual rates |
| 2024 Director Compensation (Actual) | Cash Fees ($) | Stock Awards ($) | All Other Comp ($) | Total ($) |
|---|---|---|---|---|
| William Borden (joined June 2024) | 25,000 | 222,466 | — | 247,466 |
- Deferred compensation: Mr. Borden elected to defer his 2024 cash director fees under SoFi’s Director Deferred Compensation Plan into DSUs (distributions generally in stock at separation or pre-elected date) .
Performance Compensation
| Equity Award | Grant Date | Shares/Units | Grant-Date Fair Value | Vesting Commencement | Vesting Terms |
|---|---|---|---|---|---|
| Annual RSU | Jul 8, 2024 | 35,034 | $222,466 | Jul 14, 2024 | Vests in full on earlier of next annual stockholder meeting after vest start or first anniversary |
- Death/disability policy: Unvested RSUs fully accelerate upon death; disability accelerates 1 year for every 2 years of service (adopted July 2024) .
- Clawback: Company maintains a compensation recovery policy compliant with SEC/Nasdaq rules (expanded July 2024) covering executives; director equity is time-based with no director-specific performance metrics disclosed .
Other Directorships & Interlocks
| Company/Entity | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| Diebold Nixdorf | Public | Director (Oct 2021–Aug 2023) | No current interlock with SoFi executives disclosed |
| HUB (cloud tech) | Private (per proxy descriptor) | Director (Jan 2021–present) | Not identified as SoFi related party |
| National Black MBA Association | Non-profit | Board Member (Jan 2018–Feb 2025) | Not identified as SoFi related party |
- Related-party transactions: The 2025 proxy discloses related-party arrangements (e.g., legacy SoftBank/Series 1 items) but does not identify any transaction involving Mr. Borden; the Nominating & Corporate Governance Committee oversees related-party reviews .
Expertise & Qualifications
- Financial services and banking technology leadership across Microsoft, Bank of America Merrill Lynch, and Citigroup, aligned with SoFi’s Risk Committee mandate over enterprise risk, IT, cybersecurity, and BSA/AML .
- Technical and financial academic credentials (Cornell Engineering; Kellogg MBA) .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 35,034 |
| Ownership % of outstanding | * (Less than 1%) |
| Of which RSUs vesting within 60 days of Mar 31, 2025 | 35,034 |
Stock Ownership Policy (alignment):
- Non-employee directors must hold shares equal to 5x the annual cash retainer; those not yet compliant must retain at least 50% of net shares from vesting until compliant. A majority were compliant as of Dec 31, 2024; full compliance from returning directors expected in 2025 .
Insider Trades
| Filing | Period of Report | Filed | Summary |
|---|---|---|---|
| Form 4 (SEC) | May 28, 2025 | Jun 3, 2025 | Statement of changes in beneficial ownership by William A. Borden |
| Form 4 (SEC XML) | Aug 2024 | Aug 14, 2024 | Form 4 filing referencing William A. Borden |
Note: The 2025 DEF 14A also shows Mr. Borden’s 2024 annual director RSU grant (35,034 units) and his election to defer 2024 cash fees into DSUs .
Governance Assessment
- Positives:
- Independent director with relevant financial services and banking technology expertise; serves on Risk and Compensation Committees, aligning skills to key risk and pay oversight areas .
- Board independence and structure are strong (independent Chair; separation from CEO); Board met 12 times in 2024 with ≥75% attendance for all but one director .
- Director equity is time-based RSUs granted annually, supporting alignment; Mr. Borden also elected to defer his 2024 cash fees into DSUs, increasing equity-linked exposure .
- Stock ownership policy (5x retainer) and retention requirement for non-compliant directors reinforce long-term alignment .
- Compensation Committee Report signed by Borden indicates active participation in executive pay oversight; policy framework includes an updated clawback .
- Watch items / potential conflicts:
- Mr. Borden is a senior Microsoft executive; while no related-party transaction with Microsoft is disclosed in the proxy, any material commercial relationship would merit monitoring for conflicts and recusal practices .
- Short board tenure (appointed June 2024) implies a learning curve on company-specific risk/pay matters; however, committee placements signal confidence in his expertise .