Lavanya Balakrishnan
About Lavanya Balakrishnan
Lavanya Balakrishnan, age 42, was appointed to the ABAT Board effective September 16, 2025, and is standing for a one-year term; she is designated as independent under Nasdaq rules. She is a senior financial executive with 20+ years in corporate finance, strategic and financing advisory, M&A, and credit risk across the energy sector, currently Vice President of Credit at Constellation Energy and previously a Managing Director in Morgan Stanley’s Global Power, Utilities & Renewables group for 17 years .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Morgan Stanley (Global Power, Utilities & Renewables) | Managing Director | 17 years | Led complex M&A/financings, advised on capital structure and investor messaging; led client engagement on sustainability and energy transition themes |
| Constellation Energy | Vice President of Credit | Current | Leads wholesale/retail credit; sets credit strategy aligned to balance sheet and risk frameworks; member of Finance Leadership Team |
External Roles
| Organization | Role | Status | Scope/Engagement |
|---|---|---|---|
| Constellation Energy | Vice President of Credit | Current | Oversees enterprise credit; contributes to strategic direction as part of Finance Leadership Team |
Board Governance
- Committee assignments and roles: Member, Audit Committee; Member, Compensation Committee; Member, Nominating & Corporate Governance Committee. Not a chair of any committee; current Board slate confirms membership and independence status .
- Board leadership and independence: Board separates Chair and CEO; Rick Fezell is non-executive Chairman and Lead Independent Director; Balakrishnan is independent per Nasdaq criteria (no disqualifying relationships identified) .
- Meetings and engagement context: FY ended June 30, 2025 held 4 Board meetings; Audit, Compensation, and Nominating Committees each held 4 meetings, with charters available on the company’s investor site. Individual attendance rates are not disclosed .
Committee Assignments
| Committee | Role | Meetings in FY2025 | Notes |
|---|---|---|---|
| Audit | Member | 4 | Chair: Rick Fezell; Audit committee financial expert designated; scope includes auditor selection, risk policy, related-party review |
| Compensation | Member | 4 | Chair: Susan Yun Lee; scope includes exec/director pay, incentive/equity plans, consultant oversight |
| Nominating & Corporate Governance | Member | 4 | Chair: Elizabeth Lowery; scope includes board/committee composition, governance guidelines, code of conduct oversight |
Fixed Compensation
| Component | Amount | Timing | Notes |
|---|---|---|---|
| Annual Cash Retainer | $25,000 | Paid quarterly in arrears; pro-rated from effective date | Per Director Agreement effective Sep 16, 2025 |
| Committee Chair Additional Retainers | $15,000 (Audit); $10,000 (Comp); $10,000 (Nominating) | Annual | Program amounts; Balakrishnan is not a chair (N/A) |
| Equity Compensation (Annual) | $150,000 in RSUs | Paid quarterly in arrears; pro-rated | Program’s annual equity grant; also specified in Director Agreement |
| Meeting Fees | Not disclosed | N/A | Bylaws permit fixed per-meeting compensation if approved by Board; no schedule disclosed |
Performance Compensation
| Item | Amount | Formula/Trigger | Vesting/Timing | Notes |
|---|---|---|---|---|
| RSU Annual Grant | $150,000 | Shares determined by 20-trading-day VWAP prior to applicable quarter-end grant date | First vest on last day of fiscal quarter following first anniversary of hire; grants accrue quarterly, paid in arrears | Time-based vesting; eligible from Sep 16, 2025 |
| Change-in-Control RSUs | $75,000 | Shares determined by 20-trading-day VWAP prior to CoC date | Upon change in control (as defined in equity plan) | Director-specific CoC RSU eligibility |
| Cash-to-RSU Election | N/A | May elect to receive cash components in RSUs | Election prior to start of director compensation cycle | Alignment option to increase equity mix |
No performance-quantified metrics (e.g., TSR, revenue/EBITDA goals) are disclosed for director compensation; RSUs are time-based per the vesting schedule .
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Public company boards (current/prior 5 years) | None disclosed for Balakrishnan in the proxy; directors generally had no other public company directorships in last five years unless otherwise noted |
| Committee roles at other companies | Not disclosed |
| Potential interlocks/conflicts | Employed at Constellation Energy; Board determined independence under Nasdaq; no Item 404(a) related-party transactions with ABAT |
Expertise & Qualifications
- Senior finance leader with deep experience in corporate finance, strategic advisory, capital markets, and credit risk management across energy; extensive transaction execution and investor messaging expertise .
- Sector specialization in power, utilities, and renewables; sustainability and energy transition engagement leadership at Morgan Stanley .
- Credit strategy leadership at Constellation Energy, aligning risk frameworks with balance sheet priorities .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | As-of Date | Shares Outstanding Basis |
|---|---|---|---|---|
| Lavanya Balakrishnan | 0 (listed as “-”) | <1% | September 17, 2025 | 118,046,888 shares outstanding |
Insider Trading Policy prohibits hedging or offsetting transactions in Company equity securities by directors, officers, employees, and entities they control .
Governance Assessment
- Strengths: Independent director with heavy finance/credit expertise; immediate integration across all three key committees (audit, comp, nominating) indicates strong engagement and board trust; governance architecture separates Chair/CEO with a designated Lead Independent Director; insider trading policy bans hedging/derivative strategies—positive alignment signal .
- Alignment and pay structure: Director pay skews toward equity via a $150k RSU program, with optional cash-to-RSU election enhancing alignment; however, as of 9/17/2025, beneficial ownership shows no shares—alignment will improve as RSUs vest over time .
- Watch items / potential red flags:
- Change-in-control RSU award ($75k, VWAP-based) for a non-employee director is uncommon and may create sale-sensitive incentives; monitor governance rationale and any future amendments to director equity policies .
- Attendance rates are not disclosed at the individual level; Board/committee meeting counts are provided without director-specific attendance—limit to assess individual engagement quantitatively .
- External employment at Constellation Energy raises theoretical conflict sensitivity in energy markets; Company discloses independence and no related-party transactions under Item 404(a), but continued oversight of related-party screening remains prudent .
- Related-party and interlocks: Audit Committee explicitly oversees related-party transactions; proxy and 8-K disclosures report no related-party transactions for Balakrishnan, which supports independence and reduces perceived conflict risk .
