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Board pack template

Quarterly board meeting pre-read: metrics, decisions needed, risks, financials, asks

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Use it when

A board meeting is one to two weeks out and directors need the quarter, the decisions and the numbers before they walk in

Who it's for

FounderExecutive

Part of a kit

Leadership operating rhythm, step 5 of 6. Strategy, OKRs, quarterly plan, decision memos, the board pack and the monthly company update.

Filled example

The template filled in for a made-up company, so you can see what good looks like.

Sablewood board pack, Q3 2026

Author: Priya Raman (CEO, Sablewood) · Date: September 30, 2026 · Quarter: Q3 2026 · Meeting: October 8, 2026

TL;DR

We closed Q3 at $4.1M ARR, 4% ahead of plan, driven by the mid-market tier. SMB gross churn rose to 2.1% a month and worries us most. We are asking the board to approve the FY27 hiring plan and a $1.5M venture debt facility.

The quarter in numbers

ARR
$4.1M
▲ +17%
Net revenue retention
112%
▲ +3 pts
Net burn (quarter)
$1.9M
▼ -8%
Runway
22 months
Headcount
48
▲ +6
ARR vs plan by quarter
ARR vs plan by quarter012345Q4 25Q1 26Q2 26Q3 26Q4 25 · actual: 2.6Q4 25 · plan: 2.5Q1 26 · actual: 3Q1 26 · plan: 3.1Q2 26 · actual: 3.5Q2 26 · plan: 3.4Q3 26 · actual: 4.1Q3 26 · plan: 3.95
  • actual
  • plan
View data
quarteractualplan
Q4 252.62.5
Q1 2633.1
Q2 263.53.4
Q3 264.13.95

Decisions needed from the board

# Decision Recommendation Vote needed by
1 Approve FY27 hiring plan (48 to 71 heads) Approve, with the second-half 9 roles gated on $6M ARR October 8 meeting
2 Draw a $1.5M venture debt facility from Fernhill Bank Approve; extends runway to about 24 months at 6.5% October 20 (term sheet expiry)

Quarter review vs plan

Commitment (from last pack) Plan Actual Status Note
Ship mid-market tier July 15 July 22 🟢 One week late, 31 accounts in Q3
Hire VP Sales August Signed September 12 🟡 Starts November 3
Cut SMB churn below 1.5% 1.5% 2.1% 🔴 Onboarding rework moved to Q4

What went well: Mid-market deals averaged $28k ACV, twice our SMB average.

What did not: SMB churn. Exit interviews blame setup time; two engineers moved onto guided onboarding.

Risks

Risk Likelihood Impact Signal we watch Mitigation
SMB churn keeps rising Medium High Monthly gross churn above 2.5% Guided onboarding ships November
VP Sales ramp is slow Medium Medium Pipeline under 3x quota by January CEO co-owns top 20 deals
Northwind bundles a free tier Low High Their pricing page, partner chatter Lock annual renewals early

Financials

Line Budget Actual Variance
Revenue $0.96M $1.00M +4%
Gross margin 76% 78% +2 pts
Operating expenses $3.0M $2.9M -3%
Net burn $2.07M $1.9M -8%

Cash at quarter end: $13.9M

Runway: 22 months at a blended $630k monthly burn.

Fundraising / debt: No equity raise before Q3 2027. Debt term sheet in the appendix.

Team

Function Plan Actual Open roles
Engineering 24 23 2
Go to market 16 17 3
G&A 8 8 0

Asks

  • Intro: Marco, to the CFO of Halden Group for a mid-market reference.
  • Advice: Dana, on structuring the VP Sales comp plan.

Appendix

Supporting detail (open if needed)

Cohort tables, Q4 pipeline, Fernhill Bank term sheet, July 9 minutes.

Review

Circulated to board by: October 1, 2026 · Meeting date: October 8, 2026

Reviewer Role Status
Dana Okafor Chair Approved
Marco Velez Director Approved
Ines Hart Company secretary Minuted

Decision record

Decision Date Decided by Notes
FY27 hiring plan approved with ARR gate October 8, 2026 Board, unanimous Revisit gate at Q1 meeting
Venture debt approved October 8, 2026 Board, 4 to 1 CFO to report covenant headroom quarterly

The template

Show the blank template

Board pack

Author: [your name] · Date: [date] · Quarter: [quarter] · Meeting: [meeting date]

Pre-read for the board meeting. Directors should arrive having read it: the meeting is for the decisions below, not for presenting this document.

TL;DR

Three sentences someone skimming on their phone would take away: how the quarter went against plan, the one thing that worries you most, and what you need the board to decide.

The quarter in numbers

The four or five numbers the board tracks every quarter, in the same order every time so trends are obvious.

Bind a tile to your numbers with source: finance.mrr (Workspace → Reporting → Data sources); refreshes arrive as suggestions.

ARR
$0
▲ +0%
Net revenue retention
0%
▲ +0 pts
Net burn (quarter)
$0
▲ 0%
Runway
0 months
Headcount
0
▲ +0
ARR vs plan by quarter
ARR vs plan by quarter00.20.40.60.81Q1Q2Q3Q4Q1 · actual: 0Q1 · plan: 0Q2 · actual: 0Q2 · plan: 0Q3 · actual: 0Q3 · plan: 0Q4 · actual: 0Q4 · plan: 0
  • actual
  • plan
View data
quarteractualplan
Q100
Q200
Q300
Q400

Decisions needed from the board

Each row is something the board must approve, vote on or advise on at this meeting. Put your recommendation in writing so the discussion starts from it. If nothing needs deciding, say so: it shortens the meeting.

# Decision Recommendation Vote needed by
1
2

Quarter review vs plan

Score each commitment you made at the last meeting. Plan against actual, honestly; a miss explained early buys more trust than a hit reported late.

Commitment (from last pack) Plan Actual Status Note
🟢/🟡/🔴

What went well: A specific win, with a number.

What did not: The honest miss and what you changed because of it.

Risks

The top three to five risks to the plan or the company, ranked. Name the early signal you are watching and what you will do if it fires.

Risk Likelihood Impact Signal we watch Mitigation

Financials

Candid and complete: directors carry fiduciary duty for these numbers. Show the quarter against budget and the runway assumption behind it.

Line Budget Actual Variance
Revenue
Gross margin
Operating expenses
Net burn

Cash at quarter end:

Runway: months, and the burn assumption it rests on.

Fundraising / debt: Status of any raise, facility or covenant the board should know about.

Team

Headcount against plan, key hires and departures, and the open roles that matter. Flag any leadership change before the meeting, not in it.

Function Plan Actual Open roles

Asks

Specific help from individual directors: an intro, a reference call, a hire, expertise. Name the director where you can.

  • Intro: to [person or company] for [reason]
  • Advice: on [topic]

Appendix

Supporting detail (open if needed)

Detailed metrics, pipeline, product roadmap, cohort tables, cap table changes, prior meeting minutes. Anything a director might ask about but most will not read.

Review

Directors and the company secretary record the outcome here, so the next pack can start from it.

Circulated to board by: [date] · Meeting date: [date]

Reviewer Role Status
Chair Pending
Director Pending
Company secretary Pending

Decision record

Decision Date Decided by Notes

Questions

How is this different from the investor update?
The investor update is a short monthly email; the board pack is the quarterly pre-read that asks the board to decide things
When should it go out?
Five to seven days before the meeting, so directors arrive with questions instead of reading in the room
How long should it be?
Six to ten pages before the appendix; push detail into the appendix
Can the numbers fill themselves?
Bind a tile to your numbers with source: finance.mrr from Workspace Data sources; refreshes arrive as suggestions, not silent edits

Fill it with your agent

Connect Claude to reph over MCP, then paste this. The draft arrives as suggestions you accept or reject section by section. How to connect Claude.

Find my reph doc "Board pack" with search_docs, then read it with read_doc. Draft the TL;DR, kpi block, quarter review vs plan and financials from last quarter's board pack, this quarter's plan and OKRs, and the finance close summary linked in the doc. Leave board decisions and recommendations for me. File it with suggest_edit, one replace_section op per section (heading line kept) so each can be accepted alone. Ask each open question (every number you could not source) with add_comment quoting that section's heading line, then call request_review with a one-line summary.

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