Laurie B. Burns
About Laurie B. Burns
Laurie B. Burns (62) is an Independent Trustee of Service Properties Trust (SVC) since 2020. She chairs the Compensation Committee and serves on the Audit Committee, bringing deep hospitality and commercial real estate operating experience from Darden Restaurants and her advisory firm, LBB Growth Partners . The Board affirmatively determined she is independent under Nasdaq and SEC rules and SVC’s governing documents .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Darden Restaurants, Inc. | SVP & Chief Development Officer | 2014–2016 | Led development; senior leadership in full-service restaurants |
| Darden Restaurants, Inc. | SVP, Specialty Restaurant Group, Strategic Platform & Development | 2012–2014 | Strategy and development oversight |
| Bahama Breeze Island Grille (Darden) | President | 2003–2012 | Business leadership, brand operations |
| Darden Restaurants, Inc. | Various positions | 1999–2003 | Progressive operating roles |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| LBB Growth Partners | Founder & CEO | 2017–Present | Real estate advisory focused on restaurant/hospitality |
| Salon Lofts | Advisory Board Member | 2022–2024 | Advisory capacity to salon studio operator |
| The First Tee of Central Florida | Director | Not disclosed | Non-profit board service |
Board Governance
- Committee assignments: Compensation Committee (Chair), Audit Committee member; both committees comprised solely of independent trustees .
- Committee engagement: Audit Committee held 8 meetings in 2024; Compensation Committee held 4 meetings in 2024 .
- Independence: Board determined Burns is independent under Nasdaq/SEC criteria and SVC governing documents .
- Attendance: In 2024, each trustee attended at least 75% of Board and applicable committee meetings; all trustees attended the 2024 annual meeting .
- Executive sessions: Independent trustees meet at least twice per year in executive sessions .
- Lead Independent Trustee: Donna D. Fraiche; robust responsibilities and liaison role with management .
Fixed Compensation
| Component | Amount/Detail |
|---|---|
| Annual cash retainer (Independent Trustee) | $85,000 |
| Committee chair fee (Compensation) | $15,000 |
| Total cash paid in FY2024 | $100,000 |
| Annual equity grant (2024) | 18,255 common shares; grant-date fair value $89,997 (June 14, 2024) |
| Total FY2024 trustee compensation | $189,997 |
| Vesting of trustee equity awards | Awards to trustees fully vested on the grant date |
Performance Compensation
| Metric/Feature | Disclosure |
|---|---|
| Performance metrics tied to director pay | None disclosed; director equity awards are time-based and, for trustees, fully vested at grant |
Other Directorships & Interlocks
| Company | Role | Dates | Committees |
|---|---|---|---|
| Public company boards | None | — | — |
| RMR-managed public client boards | None | — | — |
- Compensation Committee interlocks: The committee in 2024 was entirely independent (Burns, Fraiche, Harrington, Penkar); no interlocks with SVC executive officers; Burns is not noted as serving on other RMR clients’ compensation committees .
Expertise & Qualifications
- Skills noted by SVC: Risk oversight/management, human capital management, financial literacy, public company executive experience, REIT/real estate .
- Industry experience: Hospitality operations and real estate advisory (LBB Growth Partners; Darden executive roles) .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of March 18, 2025) | 47,255 common shares; less than 1% of outstanding |
| Shares outstanding (record date) | 166,636,537 common shares |
| Director ownership guideline | 35,000 shares minimum within specified timeframe |
| Guideline compliance | As of March 18, 2025, all trustees have met or are expected to meet guidelines |
| Hedging policy | Hedging by trustees/officers expressly prohibited |
Governance Assessment
- Board effectiveness: Burns’ dual role as Audit member and Compensation Chair positions her at the center of financial oversight and pay governance; committees are fully independent with regular meetings and strong attendance, supporting investor confidence .
- Pay and alignment: Director pay combines modest cash with annual equity; awards to trustees are fully vested at grant, which reduces long-term retention features but is balanced by a 35,000-share ownership guideline that Burns exceeds, strengthening alignment .
- Independence and conflicts: SVC’s structure involves extensive related-party relationships with RMR and Sonesta; however, Burns has no disclosed related-party ties and the Board applies formal review/approval of related-person transactions by disinterested/independent trustees, mitigating conflict risk . Compensation Committee (chaired by Burns) oversees RMR performance and SVC equity awards; the proxy notes use of an independent consultant (Ferguson Partners) in equity plan sizing/design, a governance positive .
- Engagement signals: Declassification of Board, proxy access, shareholder outreach (~68% of shares engaged), and Korn Ferry involvement in board refreshment indicate responsiveness and ongoing governance enhancement; these support confidence in board oversight .