Mary Stich
About Mary Stich
Mary Stich, 68, is a business lawyer and former deputy general counsel at Rackspace Technology; she has served as an advisory director of Third Coast Bancshares (Company) since 2023 and as a director of Third Coast Bank (Bank) since 2024. She is nominated for election as a Class A director of the Company with a term through the 2026 annual meeting; the board has affirmatively determined she is independent under Nasdaq and SEC rules . Stich holds a B.A. and J.D. from St. Mary’s University and completed the Bank Director Director’s Certification program in 2024; she is licensed to practice in Texas and before the U.S. Supreme Court .
Past Roles
| Organization | Role | Tenure (if disclosed) | Committees/Impact |
|---|---|---|---|
| Rackspace Technology (RXT) | Vice President & Deputy General Counsel; led global team | — | Legal leadership across commercial disputes, HR/employment, risk management, IP, privacy/data protection |
| Cox & Smith (now Dykema) | Shareholder and Partner | — | Commercial litigation and advisory |
| iHeart Media | Chief Litigation and Employment Counsel | — | Employment law and litigation leadership |
| Private Practice | Attorney | Current | Licensed in Texas and U.S. Supreme Court |
External Roles
| Organization | Role | Tenure (if disclosed) | Notes |
|---|---|---|---|
| Goodwill Industries of San Antonio | Director; Chair, Mission Committee | — | Chaired CEO selection committee |
| St. Mary’s University | Board of Trustees | — | Former Board of Visitors member; prior Associate Dean of Law School |
| San Antonio Legal Services Association | Volunteer; prior officer/director | — | Pro bono legal services |
| Association of Corporate Counsel – South Texas | Former board member; past president | — | Recognition: Ethical Life Award |
| Bexar County Women’s Bar Association | Founding member; past president | — | Belva Lockwood Outstanding Lawyer Award |
| San Antonio Bar Association | Former treasurer | — | President’s Award recipient |
| Bank Director | Director’s Certification program | Completed 2024 | Professional governance credential |
Board Governance
- Independence: The board determined all directors and nominees other than Bart O. Caraway, Dennis Bonnen, and Greg Bonnen are independent; Stich is therefore independent .
- Committee memberships: Current committee rosters list Audit (Bailey, Brunson, Glander, McDonald, Phelps; Chair: Bailey), Compensation (Bailey, Basaldua, Glander, McDonald, Scavuzzo; Chair: Glander), and Corporate Governance & Nominating (Basaldua, Brunson, Glander, McDonald; Chair: Basaldua). Stich is not listed on these committees as of the 2025 proxy .
- Board meeting attendance: The board met 12 times in 2024; the company reports each director participated in at least 75% of board and committee meetings, and nine directors attended the 2024 annual meeting .
- Leadership structure: CEO serves as Chair; Dr. Martin Basaldua is Lead Independent Director, presiding over executive sessions and assisting with agendas and risk oversight .
Fixed Compensation
| Component | Amount/Structure | Notes |
|---|---|---|
| Company board meeting fee | $333 per meeting | Applies to non-executive officer directors |
| Bank board meeting fee | $333 per meeting | Applies to non-executive officer directors |
| TCCC board meeting fee | $333 per meeting | Applies to non-executive officer directors |
| Quarterly stipend (Company) | $5,000 per quarter | Non-exec directors |
| Quarterly stipend (Bank) | $5,000 per quarter | Non-exec directors |
| Committee meeting fees | $250–$400 per meeting (Comp: $250; Audit: $400; ALCO/Risk/IT/Loan: $300) | Varies by committee |
| Committee chair quarterly stipend | $750–$1,375 per quarter (Audit/Comp/Gov: $1,375; ALCO: $938; IT: $750; Loan: $1,000; Risk: $750) | Chair-only |
| Annual equity grant (restricted stock) | $19,981 grant-date value (2024) | Granted to non-exec directors (excl. Scavuzzo) |
| Non-employee director total compensation cap | $500,000/year (cash+equity under 2019 Plan) | Plan limit |
Note: Stich’s specific board/committee fee earnings for 2024 are not itemized in the proxy; the table shows the standardized director pay structure .
Performance Compensation
| Item | Disclosure |
|---|---|
| Performance-based director pay metrics | None disclosed for non-employee directors; equity grants reported as restricted stock rather than performance share units . |
| Plan flexibility | The 2019 Plan permits performance awards, but the proxy’s director compensation section shows restricted stock grants for directors (no performance metrics disclosed) . |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Public company boards | None disclosed for Stich . |
| Family/interlocks on board | A family relationship exists among other nominees (Dennis Bonnen is brother of Greg Bonnen), but no such relationship is disclosed for Stich . |
| Related-party transactions | The proxy highlights a consulting arrangement with Director Dennis Bonnen in 2023–2024; no related-party transactions are disclosed involving Stich . |
Expertise & Qualifications
- Deep legal and governance experience across commercial disputes, employment/HR, executive agreements, risk management, insurance/compliance, IP, and privacy/data protection .
- Recognitions include Ethical Life Award (Association of Corporate Counsel), President’s Award (San Antonio Bar Association), Belva Lockwood Outstanding Lawyer Award (Bexar County Women’s Bar), and Women’s Leadership/Outstanding Lawyer Awards (San Antonio Business Journal) .
- Bank Director certification completed in 2024 enhances governance capabilities .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 2,274; less than 1% of outstanding shares . |
| Common shares (direct) | 1,312 . |
| Unvested restricted stock | 962 shares, vesting May 30, 2025 . |
| Options/derivatives | None disclosed for Stich . |
| Hedging/pledging status | Company prohibits hedging and short sales; pledging restricted to pre-approved exceptions demonstrating ability to repay without pledged securities . |
Governance Assessment
- Independence and conflicts: Stich is independent; the proxy discloses no related-party transactions involving her, reducing conflict risk .
- Committee effectiveness: As a new Company board nominee (with advisory/Bank board experience), Stich is not yet on core oversight committees; placement on Audit/Comp/Gov in future years would enhance direct governance impact .
- Ownership alignment: While her stake is modest (<1%), she holds unvested restricted shares, and company policy prohibits hedging and restricts pledging—supporting alignment with shareholders .
- Engagement signals: Completion of Bank Director certification and extensive legal background in risk, compliance, and privacy suggest active engagement and useful expertise for a regulated financial institution’s board .
- Red flags: None identified specific to Stich in the proxy; monitor for future committee assignments, meeting attendance disclosures, and any related-party dealings. The board did disclose a consulting arrangement with another director (Dennis Bonnen), but it does not involve Stich .