Sean McMurray
About Sean P. McMurray
Independent director at West Bancorporation, Inc. (WTBA), age 57, serving on the Board since 2013 and on West Bank’s Board since 2013. He is an information technology entrepreneur/executive: Chief Technology Officer – Emeritus at Businessolver, Inc. since 2017; previously CEO of AgSolver, Inc. (2013–2017); founder/CEO of DataVision Resources (acquired by Equifax in 2011); and Senior Vice President at Equifax until May 2013 . The Board classifies him as independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure/Dates | Committees/Impact |
|---|---|---|---|
| Businessolver, Inc. | Chief Technology Officer – Emeritus | Since 2017 | Co‑founded; platform design/build leadership |
| AgSolver, Inc. | Chief Executive Officer | May 2013 – Oct 2017 | Led technology company operations |
| DataVision Resources | Founder and Chief Executive Officer | ~1996 – 2011 (15 years) | Built the business; sold to Equifax in 2011 |
| Equifax, Inc. | Senior Vice President | 2011 – May 2013 | Post‑acquisition leadership role |
External Roles
| Organization | Role | Tenure/Dates | Notes |
|---|---|---|---|
| Public company boards | — | — | Company discloses that, aside from certain named directors, other nominees (including McMurray) do not hold other current public company directorships . |
| Businessolver, Inc. | CTO – Emeritus | Since 2017 | HR benefits admin technology company; co‑founder |
| AgSolver, Inc. | CEO | 2013–2017 | Technology company leadership |
| Equifax, Inc. | SVP | 2011–2013 | Senior operating role |
Board Governance
- Independence and roles: Independent director; Chair of the Compensation Committee and member of the Risk Management & Information Technology (RMIT) Committee .
- Committee cadence (2024): Compensation Committee met 2 times; RMIT met 4 times .
- Board structure and sessions: Chair and CEO roles are separated; Board Chair is independent; executive sessions of independent directors are available at all meetings and scheduled at least four times per year .
- Attendance: In 2024, the Board held 5 regular meetings, 1 organizational meeting, and 2 combined strategic planning meetings; all directors attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 annual meeting .
- Committee oversight quality: Compensation Committee is fully independent and retains independent consultant McLagan (Aon); McMurray signed the Compensation Committee Report recommending inclusion of CD&A .
Fixed Compensation (Director)
| Component (2024) | Amount | Notes |
|---|---|---|
| Fees earned or paid in cash – Company | $36,256 | As disclosed in Director Compensation table |
| Fees earned or paid in cash – West Bank | $9,753 | West Bank board service |
| Total cash fees | $46,009 | Sum of Company and West Bank cash fees |
| Annual equity award (grant-date fair value) | $28,504 | RSUs; grant made April 26, 2024 |
| Total 2024 director compensation | $74,513 | Cash + Stock Awards |
Director fee schedule context (Company-level, 2024): Board member annual retainer $22,750; Committee chair annual retainer—Audit $7,500; Compensation/NCG/RMIT $6,000; Committee membership annual retainer—Audit $5,000; Compensation/NCG/RMIT $3,750; annual equity award target $32,500; West Bank board retainer $9,750 (plus West Bank Loan/Trust committee retainers if applicable) .
Performance Compensation (Director Equity)
| Grant Date | Instrument | Shares | Grant-Date Fair Value | Vesting | Post‑Vesting Holding |
|---|---|---|---|---|---|
| Apr 26, 2024 | RSUs | 1,945 | $28,504 | Vests Apr 24, 2025 | 50% of vested shares must be retained for 3 years |
Notes:
- The targeted market value per director equity award was $32,500; actual grant-date fair value reported for McMurray was $28,504 .
- If a director resigns during the one‑year vesting period, unvested RSUs are forfeited .
Other Directorships & Interlocks
| Company | Type | Role | Status |
|---|---|---|---|
| Other public company boards | Public | — | None disclosed for McMurray; company lists current public boards only for other named directors (Milligan/Noyce/Vaughan) |
Expertise & Qualifications
- Technology and data platforms: Co‑founder and long‑tenured executive across multiple data/HR tech platforms (Businessolver, DataVision; SVP at Equifax) .
- Board skills: The Board cites his “extensive knowledge and experience as an information technology expert in a wide array of service industries” as rationale for nomination and for committee roles (Compensation Chair; RMIT member) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | As of |
|---|---|---|---|
| Sean P. McMurray | 43,447 | <1% | Feb 14, 2025 |
Ownership alignment policies and status:
- Ownership/retention guidelines: Non‑employee directors must hold Company stock equal to 3x annual cash compensation; until met, they must retain at least 50% of net shares from equity awards .
- Compliance: As of Dec 31, 2024, all non‑employee directors exceeded guidelines except two newer directors first subject in 2021/2022 (not McMurray) .
- Anti‑hedging/anti‑pledging: Company prohibits hedging and pledging by directors .
Governance Assessment
- Committee leadership and process: As Compensation Committee Chair, McMurray oversees an independent committee that uses McLagan (Aon) as an independent advisor and conducts annual charter reviews—signals a disciplined process and independence .
- Shareholder alignment indicators: Annual director equity grants with mandatory 3‑year post‑vest holding on 50% of shares; robust director ownership guidelines (3x cash); disclosure indicates broad compliance—supports alignment and long‑term orientation .
- Engagement and attendance: Board/committee attendance thresholds met by all directors; independent executive sessions scheduled at least quarterly—supports oversight quality and independent deliberation .
- Say‑on‑pay context (signal for comp oversight): The company reports over 96% support for the 2023 executive compensation program at the 2024 annual meeting, aligning with the Compensation Committee’s pay‑for‑performance narrative under McMurray’s chairmanship .
- Related‑party and conflicts review: Company discloses that certain directors had loans on market terms; Audit Committee reviewed and approved all related‑party transactions and the Board determined independence was not impaired—no adverse classification and no names specified (monitor but no red flag identified) .
- Risk and IT oversight: McMurray’s seat on the RMIT Committee (4 meetings in 2024) complements his technology background and strengthens oversight of cybersecurity/IT risk .
- Policy safeguards: Anti‑hedging/pledging, enhanced clawback policy adopted in 2023 per SEC/Nasdaq standards, and no tax gross‑ups—all positive governance practices .
- Section 16 compliance: Company states all director/officer filings were timely in 2024 except two late Form 4s by another director (Gulling)—no issues noted for McMurray .
RED FLAGS: None specifically identified for McMurray. Items to monitor include any future related‑party transactions involving directors (the company’s policy and Audit Committee oversight are in place) and evolving Compensation Committee composition (a new director is expected to join Compensation post‑election) .