Leela Srinivasan
UPWORKAbout Leela Srinivasan
Leela Srinivasan is an independent Class II director of Upwork Inc., serving since 2019. She is currently CEO of PARITY (since 2023) and brings 25+ years of go‑to‑market leadership across technology and online platforms; she holds an M.A. in History and English Literature from the University of Edinburgh and an MBA from the Tuck School of Business at Dartmouth . The board has determined she is independent under Nasdaq and SEC rules, and she serves on Upwork’s Audit, Risk and Compliance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PARITY (sports marketing) | Chief Executive Officer | 2023 – Present | Oversaw growth of network to 1,100+ female athletes for sponsorship connections . |
| Checkout.com (global payments) | Chief Marketing Officer | 2021 – 2023 | GTM leadership in payments . |
| SurveyMonkey (Momentive) | Chief Marketing Officer | 2018 – 2021 | HR tech and SaaS GTM expertise . |
| Lever, Inc. | Chief Marketing Officer | Not disclosed | HR tech GTM leadership . |
| OpenTable | VP, Restaurant Marketing & Product Marketing | Not disclosed | Product marketing leadership . |
| Marketing leadership (Director, Talent Solutions; Group Marketing Manager; Sr. PMM) | Not disclosed | Defined products, marketing approach, pricing for Talent Solutions . | |
| Bain & Company | Management consulting positions | Not disclosed | Strategy foundation . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Tuck School of Business at Dartmouth | Board of Advisors; Chair Emerita, MBA Advisory Council | Not disclosed | Academic governance roles . |
| Venture investor | Bull City Venture Partners; Neythri Futures Fund; Stage 2 Capital | Not disclosed | Early-stage investing focus . |
Board Governance
- Committee assignments: Member, Audit, Risk and Compliance Committee (financially literate under Nasdaq; committee oversees financial reporting, internal controls, cybersecurity, and related-party reviews) .
- Independence: Determined independent by the board under Nasdaq and SEC standards .
- Attendance: In 2024, the Board met 7 times; Audit 6, Compensation 6, Nominating & Governance 2. Each director attended at least 75% of aggregate board and committee meetings held during their service; all directors attended the 2024 annual meeting .
- Leadership/chair roles: Not a committee chair; current audit chair transitions to Dana Evan after the 2025 meeting (Leela remains a member) .
- Expertise: Board matrix/bio highlight go‑to‑market strategy, executive leadership, HR tech domain expertise; audit committee membership confirms financial literacy requirement is met .
Fixed Compensation
- Structure for non‑employee directors (amended and restated program; caps equity+cash at $1,000,000 per calendar year) :
- Annual Award: $185,000 (director’s election of cash or RSUs; 1‑year vest/settlement cadence) .
- General Board Service Fee: $55,000 (cash or RSUs at election; RSUs vest quarterly) .
- Committee cash fees: Audit member $17,500; Audit chair $35,000; Compensation member $7,500; Compensation chair $15,000; Nominating & Governance member $4,300; chair $8,500 .
2024 compensation actually paid to Leela Srinivasan:
| Item | 2024 Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $72,500 |
| Stock Awards (Grant-date Fair Value) | $174,725 |
| Total | $247,225 |
Notes: As of Dec 31, 2024, she held 16,299 unvested RSUs representing the Annual Award .
Performance Compensation
- Director equity is service‑based (no performance metrics). Annual Award in RSUs vests over one year; Initial Award is RSUs of $400,000 grant‑value vesting over three years (one‑third annually). All director awards accelerate on a change in control as defined in the 2018 Plan .
- 2024 equity position snapshots for Leela (director grants): 16,299 unvested RSUs as of 12/31/2024 (Annual Award) .
| Equity Element | Value/Basis | Vesting/Terms | Status |
|---|---|---|---|
| Annual Award (director) | $185,000 (cash or RSUs) | 1‑year vest (or cash paid), granted on annual meeting; accelerates at change in control | Ongoing program |
| General Board Service Fee (RSUs election) | $55,000 | Quarterly vest; accelerates at change in control | Ongoing program |
| Initial Award (director) | $400,000 RSUs | 3‑year annual vest; accelerates at change in control | Applies upon initial board appointment |
| Leela: Unvested RSUs at 12/31/2024 | 16,299 | Annual Award unvested balance | Outstanding |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed for Leela in Upwork’s proxy (other directors list theirs; Leela’s section lists “Other Affiliations” only) . |
| Committee interlocks | Compensation Committee interlocks disclosed for 2024 do not include Leela; committee members were Gretsch, Steele, Vazquez‑Ubarri . |
Expertise & Qualifications
- Go‑to‑market and product marketing leadership (LinkedIn Talent Solutions; CMO roles at Lever, SurveyMonkey, Checkout.com) .
- Executive leadership as CEO of PARITY; scaled athlete sponsorship network to 1,100+ .
- Technology and HR tech domain expertise across SaaS and online marketplace companies .
- Financial literacy for audit committee service (committee members are financially literate under Nasdaq) .
Equity Ownership
| Date (As of) | Shares Beneficially Owned | % Outstanding |
|---|---|---|
| Mar 31, 2021 | 10,173 | <1% |
| Mar 31, 2022 | 22,385 | <1% |
| Mar 31, 2023 | 29,018 | <1% |
| Mar 31, 2024 | 39,210 | <1% |
Ownership alignment policies:
- Stock Ownership Guidelines: Non‑employee directors must hold 3× the annual general cash retainer; compliance expected within 5 years; ongoing 50% net‑after‑tax retention requirement until met. As of Dec 31, 2024, all NEOs and non‑employee directors were either in compliance or still within the five‑year window .
- Hedging/short‑selling prohibited; pledging generally prohibited unless pre‑approved (and only with demonstrated capacity to repay loan without resorting to pledged securities) .
Governance Assessment
-
Strengths for investor confidence
- Independence and audit committee service with required financial literacy; no disclosed related‑party transactions involving Leela; related‑party oversight sits with the audit committee .
- Attendance: Board states each director met at least 75% attendance in 2024; all directors attended the 2024 annual meeting .
- Pay alignment: Director pay structure leans to equity via Annual Award and elective RSUs, with stock ownership guidelines and retention to reinforce alignment .
-
Potential watch‑items
- No performance‑based elements in director equity (service‑vesting RSUs standard, but not tied to TSR or operating metrics) .
- Not designated as the audit committee “financial expert” (designation shifts to Dana Evan as chair after the annual meeting) .
-
RED FLAGS
- None observed: no related‑party transactions beyond standard indemnification agreements; no disclosed hedging/pledging by directors; majority‑independent board with robust governance practices (majority voting, proxy access, clawback policy for executives) .