Day 111: Nextdoor Congratulates Elisa Steele on Governance Excellence. I Have a Governance Question.

Today I saw a Nextdoor post congratulating Elisa Steele on being named to the 2026 NACD Directorship 100 by the National Association of Corporate Directors.

My first reaction was: Congratulations.

My second reaction was: What exactly does someone have to do to make the NACD Directorship 100?

So, naturally, I looked it up.

And this is where things got interesting.

First, Credit to NACD: They Actually Show Their Work

One thing immediately stood out.

While I keep asking how Nextdoor selects its Good Neighbor Award recipients, NACD publishes substantial information about what the award represents, its criteria, and its selection process.

The 2026 Directorship 100 recognizes 100 directors and governance professionals who, according to NACD, exemplify the knowledge, leadership, and excellence it promotes. Elisa Steele is indeed listed among the 2026 director honorees.

Even better, NACD publishes a nomination guide.

Imagine that.

Criteria. In writing. Available to the public.

As someone who has repeatedly asked Nextdoor for greater transparency around its own awards and research, I appreciate being able to see how the sausage is made.

Read NACD's 2026 nomination criteria.

Then I Read the Criteria

This is where my eyebrows went up.

For directors, NACD looks for recent board-level contributions that materially strengthen governance oversight, strategy, or organizational resilience. It also evaluates governance influence, modernization, ethical leadership, judgment, and credibility.

Among the examples NACD provides are directors who demonstrate:

“courage and leadership under duress”

while doing what's best for the corporation and shareholders when facing pressures inside or outside the boardroom.

There's more.

NACD points to directors who contribute to consistent long-term profitability, pursue important business opportunities, improve shareholder returns, or navigate crises and major changes effectively.

And then there's this one:

“Valuing board and team performance over individual performance, keeping ego in check.”

Oh boy.

You knew where I was going with this.

😂

Elisa, I Think We Need to Talk About Nirav

Here's why this caught my attention.

Elisa isn't just someone on Nextdoor's board.

Nextdoor's own governance page currently identifies her as its Lead Independent Director. She also serves on the Audit and Risk Committee and chairs the Nominating, Corporate Governance and Corporate Responsibility Committee.

In other words:

Governance is quite literally part of the job.

That's why I'm having difficulty separating this recognition from the case study I've now been documenting for 111 days.

For months, I've been asking questions about Nextdoor.

I've questioned research transparency.

I've questioned communication.

I've questioned the company's Good Neighbor Award selection process.

I've questioned how Nextdoor responds to feedback.

I've questioned whether neighbors should participate economically when their information and contributions become valuable commercial assets.

I’ve repeatedly offered to have a conversation rather than keep typing about it.

Then Nextdoor CEO Nirav Tolia blocked me on X.

Again.

Let Me Be Fair About the Block

Nirav is entitled to block me.

Being CEO of a public company doesn't mean he has to follow me, answer every post I make, or spend Saturday night debating a shareholder on social media.

I also cannot tell you why he blocked me.

Only Nirav knows that.

So I'm not going to say he blocked me because he “felt pressure.” I can't know that.

I can discuss what leadership should look like when pressure, criticism, or uncomfortable questions arrive.

And, conveniently, NACD just gave me some vocabulary.

Courage under duress.

Doing what's best for the corporation and its shareholders despite pressure.

Keeping ego in check.

Those aren't my standards.

Those are examples contained in NACD's 2026 director nomination criteria.

Elisa, Here's My Challenge

Congratulations on the recognition.

Seriously.

NACD says its Directorship 100 is intended to recognize people shaping the boardroom agenda and demonstrating governance leadership. Being selected is something worth celebrating.

But recognition also creates an opportunity.

Use it.

Have a conversation with Nirav.

Not specifically because I'm special. I'm not.

And not because a CEO must personally respond to every shareholder complaint.

But because how leadership responds to uncomfortable feedback is a governance question.

If the CEO disagrees with someone, disagree.

If the criticism is wrong, explain why it's wrong.

If a question belongs with another executive, delegate it.

If information won’t be provided, say so.

If someone becomes abusive, threatening, or crosses a reasonable boundary, absolutely establish boundaries.

But when the issue is simply persistent questioning, I'd much rather see leadership demonstrate the kind of confidence that says:

Ask the question. Let's deal with it.

That's leadership I can respect even when the answer isn't the one I wanted.

Governance Isn't Just What Happens at a Board Meeting

This may be the biggest lesson I took from reading NACD's criteria.

Governance isn't simply approving minutes, sitting on committees, and attending quarterly meetings.

NACD's criteria cover oversight, resilience, emerging risks, executive compensation, CEO succession, board culture, strategic transformation, shareholder returns, and decision-making.

It even talks about directors demonstrating courage when pressures exist outside the boardroom.

That's important.

Because customers, neighbors, and shareholders aren't sitting inside the boardroom.

We're outside it.

Sometimes we're the pressure.

Sometimes we're annoying.

Sometimes we're wrong.

Sometimes we identify something worth examining.

A strong governance structure should be able to figure out which is which.

And This Is Why I Like Published Criteria

There's also a lesson here for Nextdoor's Good Neighbor Awards.

I can look at NACD's website and see what the organization says it values.

I can read its nomination criteria.

I can understand eligibility.

I want to learn about how candidates are evaluated.

NACD says candidates are vetted and scored using qualitative and quantitative criteria, escalated through senior leadership, and selected honorees ultimately go to the NACD board for final review.

That doesn't mean I know everything about every selection.

I don't.

But transparency gives me something to evaluate the process against.

That's precisely why I've asked Nextdoor to provide greater transparency around its own Good Neighbor Awards.

Don't just tell me the winners are wonderful people.

Show me the process.

NACD does.

Congratulations, Elisa. Now Comes the Fun Part.

So I'll finish where I started.

Congratulations to Elisa Steele.

Being included in the NACD Directorship 100 is a significant professional recognition.

But after reading NACD's own criteria, I don't think the appropriate shareholder response is merely applause.

It's also accountability.

NACD talks about courage.

It talks about leadership under pressure.

It talks about shareholders.

It talks about governance credibility.

It talks about keeping ego in check.

Those are excellent standards.

Let's apply them.

Elisa, have the conversation with Nirav.

Encourage a leadership culture that doesn't shy away from uncomfortable questions.

Encourage people inside Nextdoor to answer them—even when the answer is no.

Please let the CEO know that when a shareholder with too much time on his hands keeps asking questions, the block button doesn't make them disappear.

😂

Because after 111 days, I'm still here.

I'm still a shareholder.

I still want Nextdoor to succeed.

And I'm still asking questions.

Congratulations on the governance award.

Now let's see the governance.

👉 NielFlamm.com/blog