Anil Tammineedi
STEMAbout Anil Tammineedi
Independent director at Stem, Inc.; Chair of the Compensation Committee and member of the Nominating, Governance & Sustainability Committee. Age 48; served on Legacy Stem’s board from 2019 and on Stem’s public board since the April 2021 IPO; partner at Angeleno Group with deep clean energy investing experience; education includes an MBA from UCLA Anderson, an MS in Electrical & Computer Engineering from Iowa State, and Kauffman Fellow credentials .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Broadcom (Nasdaq: AVGO) | Product development and management roles (communications, mobile, power management semis) | 1997–2006 | Technology and product experience in semiconductors |
| UCLA Anderson School of Management | Senior Faculty Advisor and Lecturer (Impact Investing & Entrepreneurship) | 2019–present | ESG/impact investing expertise; academic governance exposure |
| Angeleno Group | Partner (clean energy & climate solutions investing) | 2008–present | Capital allocation, energy transition domain expertise |
External Roles
| Organization | Type | Role | Tenure | Notes |
|---|---|---|---|---|
| Fictiv | Private | Board Observer | 2022–present | Digital manufacturing platform |
| Locana | Private | Director | 2016–2023 | Geospatial/GIS products and services |
| Patriot Environmental Services | Private | Director | 2016–2022 | Environmental services (wastewater, industrial) |
| Public Company Boards | — | None | — | No current public company directorships |
Board Governance
- Committee assignments (as of Apr 23, 2025): Compensation (Chair), Nominating (Member); Audit membership not listed .
- Independence: Board determined all current directors, including Mr. Tammineedi, are independent under NYSE rules .
- Attendance: In 2024, all directors attended at least 75% of Board and committee meetings; the Board met 16 times, Audit 9, Compensation 7, Nominating 6 .
- Board leadership: Independent Chairman (David Buzby), with executive sessions of non-employee directors at each regular Board meeting; CEO and Chair roles are separate .
Fixed Compensation (Director)
| Element | Program Rate (2024–2025) | Mr. Tammineedi’s Actual 2024 Cash ($) |
|---|---|---|
| Board annual cash retainer | $60,000 | |
| Compensation Committee Chair | $12,000 | |
| Nominating Committee Member | $4,000 | |
| Meeting fees | None (retainer-only structure) | |
| Total cash paid (2024) | — | $74,000 |
Notes:
- Compensation for committee chair service is in lieu of member fees (not additive) .
- Cash retainers paid quarterly in arrears .
- Non-employee director annual compensation (cash + equity) is capped at $600,000 value per fiscal year .
Performance Compensation (Director Equity)
| Grant Date | Award Type | Shares Granted | Grant Date Fair Value ($) | Vesting | Dividend Policy | Change-in-Control Treatment |
|---|---|---|---|---|---|---|
| May 29, 2024 | Time-based RSUs | 110,236 | $140,000 (value computed at $1.27 close) | Full vest on May 29, 2025 | Dividends/dividend equivalents paid only upon vesting; none for options/SARs | No automatic vesting; Board may assume, substitute, accelerate, or cancel awards per transaction terms |
Policy signals:
- No liberal change-in-control definition; one-year minimum vesting with limited exceptions; plan subject to clawback policy and recoupment in the event of material accounting restatement .
- Company adopted a clawback policy in October 2023 consistent with NYSE Listing Standard 303A.14 .
Other Directorships & Interlocks
| Counterparty | Relationship | Potential Interlock/Signal |
|---|---|---|
| Angeleno Investors III, L.P. | Affiliated fund beneficially owns 4,289,849 shares of Stem | Mr. Tammineedi may be deemed to share voting/investment power; material ownership alignment but oversight needed due to committee chair role |
Related party transactions:
- Policy requires Nominating Committee review/approval of related person transactions >$100,000; none reported since the beginning of 2023 .
Expertise & Qualifications
- Clean energy and climate solutions investing (Angeleno Group) and energy transition experience; capital allocation and M&A background .
- Technology depth from Broadcom; SaaS/Services and business development/strategy competencies per Board skills matrix .
- Academic ESG/impact perspective via UCLA Anderson .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Total beneficial ownership | 4,449,596 shares | Includes 110,236 RSUs and 4,289,849 shares held by Angeleno Investors III, L.P. |
| Ownership % of outstanding | 2.7% | Based on 166,172,052 shares outstanding as of Mar 31, 2025 |
| Vested vs. unvested | RSUs scheduled to vest May 29, 2025 | Breakdown beyond RSUs not disclosed |
| Pledging/Hedging | No director/EO shares pledged as of Dec 31, 2024; hedging transactions prohibited by policy | |
| Stock ownership guidelines | Directors: 4× annual cash retainer; 5-year compliance window with 50% net share retention until met | |
| Compliance status | All board members in compliance as of Mar 31, 2025 |
Governance Assessment
Strengths
- Independent director; chairs Compensation and serves on Nominating—roles central to pay governance and director succession .
- Pay structure balanced (retainer-only cash, annual RSU) with modest cash levels and one-year vesting; dividends only at vest; compensation capped; clawback in place .
- High Board activity and consistent executive sessions; clear separation of Chair and CEO roles .
Watch factors / RED FLAGS
- Affiliated ownership via Angeleno Investors III, L.P. (4,289,849 shares) while chairing Compensation Committee; independence affirmed, and no related-party transactions disclosed since 2023, but continued monitoring of potential conflicts is prudent .
- Board remains classified (pending future declassification proposal resubmission in 2026), which can limit immediate accountability to shareholders .
Overall signal: Material “skin-in-the-game” via affiliated ownership aligns interests; governance structures (clawback, compensation cap, no automatic CIC vesting) mitigate risk. Ongoing scrutiny of committee decisions for potential Angeleno-related conflicts is advisable .