decision-making and a cohesive corporate strategy. The Board of Directors periodically reviews its leadership structure. The Company does not have a lead independent director; however, an independent director presides over the executive sessions. For additional information, see “Executive Sessions of Non-Management Directors.”
Environmental and Social Responsibility We believe in championing our customers, employees and communities through empowerment as well as action. We are committed to conducting operations and activities in a sustainable manner and continually aim to find new ways to reduce our carbon footprint. For example, at our mortgage companies, we encourage our colleagues and customers to “go green” or paperless where applicable, we provide our customers with opportunities to learn about conserving energy in their homes and we use technology to digitally streamline the loan process. In addition, our mortgage companies are continuing a successful partnership with One Tree Planted, through which we donate a tree for every customer who switches from paper to electronic statements during Earth Week.
We are committed to making a positive impact on our communities and employees. The understanding that strong communities and high rates of homeownership help communities thrive is integral to our work, and we help provide educational resources and support for first-time homebuyers. To that end, our mortgage companies’ philanthropic arm, Newrez NOW (Neighborhood Outreach Works), helps support the following community service opportunities for our employees:
Volunteer paid time off;
Matching gifts of up to $1,000 per person per year for qualifying charitable giving;
Corporate Grants Program focusing on employee-nominated local organizations;
A “Community Engagement Council” program that empowers our employees to lead philanthropic giving in their communities; and
Annual “give back” opportunities for consumers to engage with our major fundraising campaigns.
We also encourage our employees to participate in and support our employee resource groups (“ERGs”), which are employee-led empowering spaces designed to heighten awareness, engage allies and champion broader Diversity, Equity and Inclusion initiatives for ERG members and our mortgage companies. Our current ERGs include the following:
BOLD – African Americans and People of Color
DREAM Alliance – Women in Business and allies
Environmental Council – Environment Awareness & Sustainability
Mezcla Calibre – Hispanic & LatinX
PRIDE – LGBTQ+ Community
Pro$per – Financial Wellness
United Military Veterans Group – Active Military, Veterans and Allies
Pursuant to our policies and procedures for transacting in Company securities, all directors, executive officers, employees and employees of our Manager are prohibited from engaging in any transaction intended to hedge or minimize losses in the Company’s securities, including engaging in transactions in puts, calls, or other derivatives of the Company’s securities or short-selling the Company’s securities.
Board and Committee Meetings
During the year ended December 31, 2020,2021, our Board of Directors held 3819 meetings. No director attended fewer than 75 percent of all meetings of our Board of Directors and the committees on which such director served. The Board of Directors has four standing committees: the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee and the Mortgage Regulatory Compliance Committee. During 2020,2021, the Audit Committee met sevensix times, the Compensation Committee met threefour times, the Nominating and Corporate Governance Committee met one timetwo times and the Mortgage Regulatory Compliance Committee met threefour times. Although director attendance at the Company’s annual meeting each year is encouraged, the Company does not have an attendance policy.