FROM: Stacey Barnier, Chief Human Resources Officer
SUBJECT: Performance Evaluation Process for Chief Executive Officer and Chief Counsel
RECOMMENDATION:
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Approve the 2026 performance evaluation process and timing for the Chief Executive Officer and Chief Counsel.
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BACKGROUND:
In accordance with their revised employment agreements adopted in 2024, the CEO and Chief Counsel may be entitled to a merit bonus payment of up to ten percent (10%) of base salary based on performance, achievement of goals, and financial condition of SBCERA, at the Board’s discretion, following Employee’s annual performance review which shall occur in the March to June time frame each year. In accordance with the SBCERA Staff Performance Evaluation and Planning (PEP) Policy (018), the format and framework for completion of the CEO’s or Chief Counsel’s performance evaluation shall be reviewed with the Board annually.
Staff recommends using the 2025 Performance Evaluation template that was approved by the Board. Additionally, staff recommends that the performance reviews continue to include the 360-degree review component for the CEO with feedback from the CEO’s direct reports and for the Chief Counsel from the senior leadership team using the same format that the Board uses to provide feedback.
In addition, staff recommends the Executive Committee continue to serve as the Performance Evaluation Committee for the CEO and Chief Counsel. In accordance with the SBCERA By-Laws approved on June 3, 2021, the Executive Committee shall be comprised of the current Board Chair and Vice Chair, and immediate past Board Chair to advise the Board on benefit and compensation of SBCERA Employees, among other matters.
Staff recommends the following timeline:
March 5, 2026 Board Chair appoints Executive Committee to serve as Performance Evaluation Committee members.
April 2, 2026 Chief Executive Officer and Chief Counsel will provide Closed Session briefings to the Board on their accomplishments and goals.
April 2, 2026 An online survey tool will be released to the Trustees and direct reports to gather their feedback, which will request a specific evaluation of no more than ten key areas, with room for narrative discussion on each area, as well as overall. The survey will close on April 16, 2026 to allow for compilation of the results by one or more Board-designated representatives (to be determined).
May 7, 2026 Board Meeting - Closed Session discussion (Board only) to discuss the performance self-evaluations and compiled survey results. Desired outcome: Board will reach a consensus on key points to be covered in the performance evaluation with the CEO and Chief Counsel and the Executive Committee will deliver the performance evaluation.
May 7, 2026 Board Meeting - Open Session discussion regarding compensation adjustments and/or performance incentives, if any.
May 7-21, 2026 Identified range of time for the Executive Committee to meet with CEO and Chief Counsel separately to provide performance evaluation and compensation adjustments, if any. Should additional time be required, or additional full Board discussion needed, this time would be adjusted into June.
BUDGET IMPACT:
Costs for this item are included in the current year administrative and/or non-administrative budget.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Quality Employer and Workplace
STAFF CONTACT:
Stacey Barnier
ATTACHMENTS:
Exhibit A: Chief Executive Officer Performance Evaluation Framework
Exhibit B: Chief Executive Officer Direct Reports Performance Evaluation Framework
Exhibit C: Chief Counsel Performance Evaluation Framework
Exhibit D: Chief Counsel Senior Leadership Team Evaluation Performance
Exhibit E: SBCERA Staff Performance Evaluation and Planning (PEP) Policy