James DeVries
ABM INDUSTRIES INC /DE/About James D. DeVries
Independent director at ABM since 2022; age 61. Chairman, President and CEO of ADT Corporation (NYSE: ADT) since December 2018 (President since September 2017; Chairman since September 2023); prior senior executive roles at Allstate (2008–2016). Brings enterprise risk management, financial management and capital allocation, human capital, M&A and public company governance experience .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ADT Corporation | Chairman of the Board | Sep 2023 – Present | Public company (NYSE: ADT) |
| ADT Corporation | President & Chief Executive Officer | Dec 2018 – Present | Previously EVP & COO (2016–2017) |
| ADT Corporation | President | Sep 2017 – Dec 2018 | Elevated to CEO Dec 2018 |
| Allstate Insurance Company | EVP, Brand Operations | 2014 – 2016 | Marketing/brand operations leadership |
| Allstate Insurance Company | EVP & Chief Administrative Officer | 2008 – 2014 | Enterprise operations oversight |
External Roles
| Organization | Role | Since | Committees/Detail |
|---|---|---|---|
| ADT Corporation (NYSE: ADT) | Director | 2018 | Executive Committee; Nominating & Corporate Governance Committee |
| Amsted Industries Inc. (private) | Director; Lead Director | 2016; Lead Director since Mar 2023 | Diversified industrial components manufacturer |
Board Governance
- Committee assignments: Compensation Committee member; not Chair .
- Independence: Board determined DeVries is independent under NYSE and SEC rules .
- Attendance: Each director attended 94% or more of Board/committee meetings in FY2024; overall attendance 99% .
- Board leadership and executive sessions: Separate Chairman/CEO; independent directors meet in executive session during each regularly scheduled Board meeting .
- Skills matrix emphasis: Business leadership/strategy, sales/marketing, human capital/safety, risk oversight, M&A, other public board experience .
Fixed Compensation
| Component | Amount/Detail | Source |
|---|---|---|
| Annual Board Cash Retainer | $90,000 (non-employee director) | |
| Compensation Committee Member Retainer | $12,500 | |
| Meeting Fees | None | |
| 2024 Cash Fees Earned | $102,500 | |
| 2024 Stock Awards (RSUs) | $159,993 grant-date fair value | |
| 2024 RSU Grant | 3,695 RSUs on Jan 4, 2024 (calculated as $160,000 ÷ $43.30) | |
| Vesting | RSU annual grant vests one year from grant date | |
| All Other Compensation (DEUs) | $7,928 (dividend equivalents credited) | |
| Total 2024 Director Compensation | $270,421 | |
| Deferred Compensation Eligibility | May defer cash retainers; RSU settlement may be deferred; interest credited at WSJ prime |
Performance Compensation
- Non-employee director pay is not performance-based; equity is time-based RSUs with one-year vesting; no PSUs, options, or performance metrics apply to directors .
Other Directorships & Interlocks
| Company | Relationship to ABM | Potential Interlock/Conflict | Notes |
|---|---|---|---|
| ADT Corporation | External public company; DeVries is Chairman/CEO and director | No ABM-related party transactions reported in FY2024 | ABM’s Policy requires Governance Committee pre-approval/review; none occurred in FY2024 . |
| Amsted Industries (private) | External private company; DeVries lead director | None disclosed | Not a public issuer; industrial components . |
- Outside board limits: CEOs of other public companies may serve on no more than one other public board; Governance Committee monitors compliance. DeVries (CEO of ADT) serves on ADT and ABM, consistent with policy .
Expertise & Qualifications
- Executive leadership and strategy; enterprise risk oversight; financial management and capital allocation; human capital and safety; sales/marketing; M&A; public board experience .
- Relevant end markets overlap (security services, facilities) provide cross-industry insight; Board emphasizes risk oversight including cybersecurity through committees .
Equity Ownership
| Item | Amount/Detail | Date | Source |
|---|---|---|---|
| ABM Common Shares Beneficially Owned | 0 shares | Feb 1, 2025 | |
| RSUs held (not vesting within 60 days) | 11,639 RSUs (excluded from beneficial ownership table) | Feb 1, 2025 | |
| RSUs held (as of FY-end) | 8,449 RSUs (includes deferred RSUs; status at Oct 31, 2024) | Oct 31, 2024 | |
| Ownership Guidelines | Must hold value equal to 5× annual cash retainer within 5 years; if below target, must retain ≥50% of net shares until compliant | Policy status: directors either at target or within 5-year window | |
| Anti-hedging/pledging | Hedging and pledging of ABM stock prohibited | Policy |
Insider Filings
| Filing | Date | Detail | Note |
|---|---|---|---|
| Form 4 (DEU accrual) | May 9, 2024 | One late Form 4 (one day) due to administrative error; related to dividend equivalent rights accrued May 6, 2024 on RSUs | Applies to multiple insiders including James DeVries |
Governance Assessment
- Strengths: Independent status; active Compensation Committee member; high attendance; robust related-party transaction policy with Governance Committee oversight; prohibition on hedging/pledging; director stock ownership policy driving alignment over five years .
- Alignment and incentives: Director compensation mix emphasizes equity (annual RSUs with one-year vesting) alongside cash retainer and modest committee fees, supporting “skin in the game” over time .
- Conflicts/Red flags: No related-party transactions in FY2024; minor administrative Section 16 filing delay (one day) noted; as ADT CEO, any future ABM-ADT commercial relationships would be subject to Related Party Transaction Policy review—monitor but no current exposure disclosed .
- Board effectiveness signals: Compensation Committee met five times; Board meets in executive session each regular meeting; clear outside board limits with compliance monitoring; broad risk oversight including cybersecurity via Stakeholder & Enterprise Risk Committee .