Sally Pope Davis
About Sally Pope Davis
Sally Pope Davis (age 67) is an independent director of United Community Banks, Inc. who joined the Board effective September 4, 2024; she serves on the Nominating and Corporate Governance Committee and the Risk Committee. She retired in 2024 as a Managing Director at Goldman Sachs Asset Management, co-leading U.S. Small Cap Value Strategies and specializing in financial sector investments; she holds an MBA (finance/economics) from the University of Chicago and a BS in finance (summa cum laude) from the University of Connecticut. The Board affirmed her independence under NYSE standards and highlighted her shareholder value, corporate finance, and M&A expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldman Sachs Asset Management | Managing Director; Co-lead, U.S. Small Cap Value Strategies | MD since 2010; co-lead since 2009; joined SCV team 2006; retired 2024 | Led one of the industry’s largest U.S. small-cap value funds; financial sector investing (banks, insurance, mortgage, capital markets, specialty finance) . |
| Goldman Sachs Asset Management (Fundamental Equity) | Portfolio Manager (mid- and large-cap banks) | 2001–2006 | Sector coverage and active portfolio management in commercial/investment banks . |
| Goldman Sachs Global Investment Research | Senior sell-side equity analyst (U.S. regional banks) | 1989–2001 | Covered regional banks during significant consolidation; deep industry analysis . |
| Brown Brothers Harriman | Sell-side equity analyst (regional banks) | Pre-1989 | Regional bank coverage . |
| Chase Manhattan Bank | Corporate finance roles; Vice President in capital planning | Began career; VP capital planning by 1981 | Financial institutions specialization; capital planning for the corporation . |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| First Financial Bankshares; First Financial Bank; First Financial Trust & Asset Management | Board member | Not disclosed | Investment Committee (First Financial Trust & Asset Management) . |
| Core Specialty Insurance Holdings, Inc. | Independent board member | Not disclosed | Audit; Finance; Risk Management Committees . |
Board Governance
- Independence: The Board determined Davis (and all director nominees except the CEO) are independent under NYSE and Company guidelines .
- Committees: Nominating and Corporate Governance; Risk. Risk Committee met 4 times in 2024; Talent & Compensation met 6 times; independent directors meet in executive session at each regular Board meeting, presided by Lead Director Thomas A. Richlovsky .
- Attendance: In 2024, each incumbent director attended at least 75% of aggregate Board and committee meetings; the Board met seven times .
- Nomination & Election: Identified by the Nominating & Corporate Governance Committee; elected to Board effective September 4, 2024 .
- 2025 Shareholder Support: At the May 14, 2025 Annual Meeting, Davis received 97,163,424 votes “For” vs. 642,904 “Withheld” (9,547,883 broker non-votes), indicating strong investor support .
Fixed Compensation
| Component | Policy Detail | 2024 Per-Person for Davis | Notes |
|---|---|---|---|
| Cash annual directorship retainer | $50,000 (effective Jan 1, 2024); increased to $60,000 (effective Sep 1, 2024) | $20,000 | Davis’ 2024 cash fees were prorated for her Sept. 4 start date . |
| Committee member fees | Nominating & Corporate Governance: $7,500 member/$10,000 chair (Jan 1, 2024); $8,750/$15,000 (Sep 1, 2024). Risk: $10,000 member/$12,500 chair (Jan 1, 2024); $12,500/$20,000 (Sep 1, 2024). Executive: $7,500 member (Jan 1, 2024); $8,750 (Sep 1, 2024). Audit: $10,000 member/$15,000 chair (Jan 1, 2024); $12,500/$20,000 (Sep 1, 2024). | Included in cash totals | Committee fees structure detailed; chairs receive chair fee plus member fee . |
| Director equity | $65,000 (effective Jan 1, 2024); $75,000 (effective Sep 1, 2024, for awards granted after that date) | $43,349 | Davis received a prorated RSU award at appointment; equity awards are granted annually and vest the day before the next annual meeting . |
| 2024 Non-Employee Director Compensation | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Sally P. Davis | $20,000 | $43,349 | $63,349 |
Performance Compensation
| Equity Grant | Grant Date | Shares | Grant-Date Share Price | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|---|
| Time-based RSU (Director, prorated) | Sep 4, 2024 | 1,464 | $29.61 | $43,349 | Vest day before following year’s annual meeting . |
| Time-based RSU (Director, annual) | May 14, 2025 | 2,526 | Not disclosed | Not disclosed | Typically vests day before following year’s annual meeting per program . |
| Compensation Metrics Tied to Director Pay | Status |
|---|---|
| Performance metrics (e.g., TSR/ROA) for non-employee director compensation | None disclosed; director equity is time-based RSUs . |
Other Directorships & Interlocks
| Company | Industry Relationship to UCB | Potential Interlock Consideration |
|---|---|---|
| First Financial Bankshares / First Financial Bank / First Financial Trust & Asset Management | Banking; industry peer | Same industry knowledge flow; no related-party transactions disclosed by UCB in 2024 . |
| Core Specialty Insurance Holdings, Inc. | Insurance; potential customer/partner ecosystem | Davis serves on Audit/Finance/Risk; no UCB-related-party transactions disclosed in 2024 . |
Expertise & Qualifications
- 40+ years in financial analysis, asset management, and bank/financials investing; shareholder value creation and corporate finance/M&A experience .
- Sector specialization across banks, thrifts, insurance, mortgage, capital markets, and specialty finance; prior sell-side coverage of regional banks .
- Education: MBA, University of Chicago; BS Finance (summa cum laude), University of Connecticut .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of Feb 28, 2025, Proxy) | No voting common stock disclosed for Davis; “less than 1%” of class shown for all directors; RSUs not counted if not exercisable within 60 days . |
| Ownership guidelines (Directors) | Required to hold Company stock equal to at least 3x annual base cash retainer within five years; must retain 100% of net after-tax shares granted until target met; strict anti-hedging and anti-pledging policy applies . |
| Compliance status | Not disclosed for Davis; early tenure since Sept 2024 . |
| Shares pledged/hedged | Prohibited by policy; no pledging/hedging disclosed . |
Insider Trades and Awards (Section 16)
| Date (Filed/Trade) | Type | Shares | Price | Source |
|---|---|---|---|---|
| 2024-09-04 (filed 2024-09-05) | Award (RSU) | 1,464 | — | |
| 2025-03-11 (filed 2025-03-13) | Open-market purchase | 1,800 | $28.19 | |
| 2025-05-14 (filed 2025-05-15) | Award (RSU) | 2,526 | — |
Note: Fintel and third-party summaries corroborate the 3/11/2025 purchase (1,800 shares at $28.19) and the 5/14/2025 RSU award (2,526 shares) . Use the SEC links above as primary records.
Governance Assessment
- Board effectiveness and engagement: Strong investor endorsement for Davis in 2025 election; Board maintains executive sessions at each regular meeting and conducted seven Board meetings in 2024; all incumbents met at least 75% attendance, supporting engagement .
- Independence and committee work: Davis serves on fully independent Nominating & Corporate Governance and Risk committees; independence affirmed by the Board .
- Compensation alignment: Director pay combines cash retainers and time-based RSUs with clear vesting and ownership guidelines (3x cash retainer within five years); no hedging/pledging allowed, reinforcing alignment .
- Shareholder signals: 2024 say-on-pay approval was 97.7%, indicating broad support for compensation practices .
- Conflicts/related-party exposure: UCB reported no related-party transactions in 2024; policy requires Board/Audit Committee approval for any such transactions and prohibits participation by interested directors .
- RED FLAGS: None disclosed regarding pledging/hedging, option repricing, tax gross-ups, or related-party transactions. External board roles at an industry peer (banking) and insurer create potential information flow considerations but no transactions or conflicts are reported .
Overall, Davis brings deep financial sector investing and risk acumen to UCB’s Board, bolstering risk oversight and governance. Her committee assignments, independence, and equity-based director compensation—with strict ownership and anti-hedging policies—support investor alignment, while strong shareholder support and absence of related-party issues enhance confidence .