Susan Sobbott
WEXAbout Susan Sobbott
Independent director since 2018 (age 60), formerly President of Global Commercial Services and Global Corporate Payments at American Express, with deep B2B payments, risk management, and global operating experience. Currently serves on WEX’s Audit Committee and Corporate Governance Committee; the Board affirms her independence under NYSE rules . Biography includes leadership of AMEX OPEN for small businesses and membership on AMEX’s Business Operating Committee and Enterprise Risk Management Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Express | President, Global Commercial Services | Dec 2015–Feb 2018 | Enterprise risk oversight; global B2B issuing business leadership |
| American Express | President, Global Corporate Payments | 2014–2015 | Upgraded B2B product/service delivery infrastructure |
| American Express OPEN | President & GM (SMB unit) | 2004–2014 | Growth of SMB payments franchise; operating committee member |
| American Express (Consumer Card) | Product development, loyalty, partnerships | Prior to 2004 | Consumer payments product leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Next Insurance (private) | Board member | Current | AI-based small business insurance |
| Bambee (private) | Board member | Current | AI-based HR software/services |
| ideas42 (non-profit) | Board member | Current | Behavioral economics consultancy |
| UVA Darden School of Business | Board of Trustees | Current | Governance/education oversight |
| The Children’s Place (public) | Director | 2014–2019 | Largest public children’s apparel retailer NA |
| Red Ventures (private) | Director | 2012–2020 | Digital marketing; oversaw acquisitions/integrations |
| Lola.com (private) | Director | 2020–2022 | SME travel/expense software |
Board Governance
- Committee assignments: Audit Committee member; Corporate Governance Committee member .
- Independence: Board determined Sobbott and all committee members (Audit, CGC, LDCC) are independent per NYSE and SEC rules .
- Attendance and engagement: Board held 5 meetings in 2024; all directors attended at least 75% of Board and applicable committee meetings; all directors then in office attended the Annual Meeting .
- Committee activity levels: Audit Committee met 8 times in 2024; Corporate Governance Committee met 5 times .
- Executive sessions: Independent directors meet at least semi-annually in executive session; Lead Director presides .
- CGC remit includes succession planning, related-party transaction review/approval, governance practices, and sustainability oversight .
Fixed Compensation
| Component | 2024 Amount | 2025 Program Detail | Notes |
|---|---|---|---|
| Annual non-employee director cash retainer | $85,000 | $85,000 | Standard cash retainer for non-lead directors |
| Committee chair fees | N/A (not a chair) | N/A | Audit $30k; CGC $20k; LDCC $25k; Finance $20k; Tech & Cyber $20k |
| Lead Director cash retainer | N/A | $135,000 | Increased effective Oct 1, 2024 (lead director only) |
| 2024 equity retainer (RSUs) | $200,035 | — | Grants based on closing price at grant date; RSUs vest at 1-year |
| 2024 total director compensation (cash + stock) | $285,035 | — | Sobbott: $85,000 cash; $200,035 stock awards |
Performance Compensation
- Director equity is time-based, not performance-based; annual RSUs vest on the first anniversary of grant .
- Deferral: Directors may elect to defer cash/equity into DSUs; DSUs settle in shares 200 days after board service ends .
| Award | Grant/Transaction Date | Units | Vest/Conversion | Source |
|---|---|---|---|---|
| Annual RSU grant | 2024-05-09 | 960 | Vests 2025-05-09 (1-year) | |
| RSU vest to common (M-exempt) | 2024-05-11 | 1,147 | RSU cancellation and common share acquisition (settlement) | |
| Annual RSU grant | 2025-05-15 | 1,567 | Vests 2026-05-15 (1-year) | |
| RSU vest to common (M-exempt) | 2025-05-09 | 960 | RSU cancellation and common share acquisition (settlement) |
Notes:
- 2025 director equity retainer program: ~$215,000 RSUs for each then-serving non-employee director at the Annual Meeting .
Other Directorships & Interlocks
| Category | Companies | Interlock/Conflict Notes |
|---|---|---|
| Current public boards | None disclosed | No public-company interlock conflicts disclosed |
| Prior public boards | The Children’s Place (2014–2019) | No related-party transactions disclosed with WEX |
| Private/non-profit boards | Next Insurance; Bambee; ideas42; UVA Darden Board of Trustees | CGC oversees outside board directorships and conflicts; no WEX-related transactions disclosed |
Expertise & Qualifications
- Payments industry leadership across SMB and enterprise; global business management in 200 countries .
- Risk management: Enterprise Risk Management Committee experience; fraud, credit losses, regulatory compliance accountability .
- Business development/M&A: Board oversight of significant acquisitions at Red Ventures; corporate strategy at AMEX .
- Sustainability/HCM: Long-term DEI sponsorship; governance education on board’s role in sustainability .
Equity Ownership
| Item | Amount/Status | Notes |
|---|---|---|
| Common stock owned | 4,207 shares | As of March 31, 2025; <1% outstanding |
| Right to acquire (within SEC-defined window) | — | None listed for Sobbott |
| Unvested RSUs outstanding (12/31/2024) | 960 | Annual director RSUs vest after 1 year |
| Deferred Stock Units (DSUs) outstanding | 2,107 | Converts to shares 200 days after board departure |
| Ownership guidelines | 5× annual cash retainer | All non-employee directors in compliance as of July 31, 2024 |
| Hedging/Pledging | Prohibited | Company policy prohibits hedging/pledging by directors |
Insider Trades (Form 4 – 2023 to 2025)
| Filing Date | Transaction Date | Type | Security | Units | Post-Transaction Ownership | SEC Link |
|---|---|---|---|---|---|---|
| 2023-05-15 | 2023-05-11 | A (Award) | RSUs | 1,147 | 1,147 | |
| 2023-05-15 | 2023-05-12 | M (Exempt; RSU vest) | Common / RSU cancel | 1,030 / (1,030) | 4,207 | |
| 2024-05-13 | 2024-05-09 | A (Award) | RSUs | 960 | 960 | |
| 2024-05-13 | 2024-05-11 | M (Exempt; RSU vest) | Common / RSU cancel | 1,147 / (1,147) | 5,354 | |
| 2025-05-13 | 2025-05-09 | M (Exempt; RSU vest) | Common / RSU cancel | 960 / (960) | 6,314 | |
| 2025-05-19 | 2025-05-15 | A (Award) | RSUs | 1,567 | 1,567 |
Governance Assessment
- Board effectiveness: Active membership on Audit (8 meetings in 2024) and Corporate Governance (5 meetings) supports strong financial oversight and governance refreshment/succession responsibilities . Independence affirmed; executive sessions held regularly enhance CEO oversight and board challenge function .
- Ownership alignment: Holds 4,207 common shares plus 960 unvested RSUs at 12/31/24 and 2,107 DSUs; complies with 5× retainer ownership guideline; hedging/pledging prohibited, reducing misalignment risk .
- Compensation reasonableness: Standard director pay structure (cash retainer and annual RSUs); 2025 equity retainer increased to maintain peer competitiveness; no meeting fees; DSU deferral available; no red flags in director pay .
- Conflicts/related-party exposure: No related-person transactions disclosed involving Sobbott; CGC pre-approves any such transactions; Wellington and family employment items disclosed elsewhere do not involve Sobbott .
- RED FLAGS: None disclosed regarding low attendance, related-party transactions, hedging/pledging, or option repricing; WEX prohibits repricing without shareholder approval in the equity plan and bars hedging/pledging for directors .