Lura McBride
About Lura McBride
Lura E. McBride (age 53) is President & CEO of Van Meter Inc. (since 2016) and previously COO (2010–2016); she spent ~15 years at Accenture in systems integration and change management. She joined UFCS’s Board in 2020, is an independent director, and holds degrees in Finance and Marketing from the University of Iowa .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Van Meter Inc. | President & CEO | 2016–present | Leads vision, growth strategy; 800+ employee-owners across 25 locations; culture and operational excellence focus |
| Van Meter Inc. | Chief Operating Officer | 2010–2016 | Operations leadership; scaling and performance management |
| Accenture | Management Consulting (Systems Integration, Change Mgmt., Human Performance) | ~1993–2008 (approx. 15 years; dates not specified) | Business process design, program management; technology-enabled transformation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Van Meter Inc. | Board of Directors | Current | Internal company board |
| Werner Electric Supply | Board of Directors | Current | Industry peer (distribution); private company |
| National Association of Electrical Distributors (NAED) | Board/Leadership | Current | Industry association governance |
| University of Iowa Tippie College of Business | Advisory Board | Current | Academic advisory role |
| Tanager Place; Hall-Perrine Foundation; UnityPoint St. Luke’s Hospital; Iowa BIG; Cedar Rapids Police Chief Council | Board/Committee roles | Current | Community leadership |
Board Governance
- Independence: The Board determined 10 of 11 directors are independent; only the CEO is not independent. McBride is independent .
- Committee memberships: Compensation and Human Capital Committee (Member); Nominating & Governance Committee (Member) .
- Committee activity: Compensation Committee met 6 times in 2024; Nominating & Governance met 5 times in 2024, indicating substantive engagement requirements .
- Attendance: Board met 4 times in 2024; all directors attended ≥75% of aggregate Board and committee meetings and attended the 2024 Annual Meeting .
- Stock ownership guidelines: Non-employee directors must own ≥100 shares upon joining and ≥5,000 shares within five years; all current directors comply .
- Anti-hedging/pledging: Directors are prohibited from hedging and pledging company securities .
- Executive sessions: Independent directors held four executive sessions in 2024 .
- Related-party transactions: None since the beginning of 2024; none currently proposed .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Base annual retainer (all directors) | $80,000 | 2024 fee schedule |
| Committee membership retainer (Comp Committee) | $5,000 | Member retainer |
| Committee membership retainer (Nominating & Governance) | $4,000 | Member retainer |
| McBride – Fees earned (cash) | $91,000 | Actual 2024 cash fees received |
Performance Compensation
| Equity Grant | Grant Date | Shares/Units | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Annual RSU grant (Non-Employee Director Plan) | May 2024 | 3,219 RSUs | $73,837 | Vests one year after grant (May 15, 2025) |
| Options (directors) | N/A | — | — | All prior director options expired in May 2024; no options issued since 2013 |
Non-employee director equity is time-based RSUs; no performance metrics apply to director equity grants .
Other Directorships & Interlocks
- Public company boards: None disclosed for McBride; her external boards are private/association roles .
- Interlocks/conflicts: No related-party transactions disclosed; standard insurance relationships on market terms are excluded by policy .
Expertise & Qualifications
- Skill profile: Senior administration, business operations, corporate governance, finance/capital, industry service, technology & systems, and risk management per Board skills matrix .
- Industry/functional focus: Operations, supply chain, technology integration, change management, and organizational performance from Accenture/Van Meter background .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Lura E. McBride | 12,961 (12,861 individually; 100 jointly with husband) | ~0.051% (12,961 / 25,393,131) | No shares pledged; <1% threshold |
Director ownership guideline compliance: All current directors meet the 5,000-share guideline within the five-year compliance window .
Governance Assessment
- Strengths:
- Independent director with deep operations/technology expertise aligned to Compensation and Nominating & Governance committee mandates .
- Solid engagement: committee workloads (6 Comp; 5 N&G meetings) and full Board/Annual Meeting attendance support effectiveness .
- Alignment: RSU-based director pay and ownership guidelines; anti-hedging/pledging policy; no related-party transactions reported .
- Watchpoints:
- Time commitments: Active CEO role plus multiple external boards may create bandwidth risk, though no attendance shortfall was disclosed .
- Director pay structure is largely fixed with time-based equity; no performance linkage in director grants (typical, but offers limited pay-for-performance signaling for directors) .
Overall signal: McBride’s independence, skills, and attendance support board effectiveness; absence of conflicts or pledging reduces governance risk. Equity ownership above guideline threshold enhances alignment with shareholders .