Marques Coleman
ADTAbout Marques Coleman
Marques Coleman (age 35) has served on ADT’s Board since 2023 as an Apollo Global Management designee; he sits on the Executive Committee and is not classified as independent under NYSE rules. He is a Partner at Apollo Private Equity (since 2021), previously Vice President at Veritas Capital (2019–2021), holds a BA from Brown University and an MBA from Wharton. In FY2024, each incumbent director attended at least 75% of board and relevant committee meetings; the Executive Committee (which included Coleman) held no meetings.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Apollo Global Management (Private Equity) | Partner | 2021–present | Evaluates investments across multiple industries |
| Veritas Capital | Vice President | 2019–2021 | Private equity investing |
| Brightspeed parent entity | Director | Mar 2022–Nov 2023 | Board member at telecom parent entity |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ADT Inc. | Director (Class II) | 2023–present | Apollo designee; member, Executive Committee |
| Other public company boards | — | — | None disclosed beyond prior Brightspeed parent entity role |
Board Governance
| Attribute | Details |
|---|---|
| Independence status | Not independent (independent directors are Gartland, Griffin, Houston, Smith, Tiedt, Winter, Yoon, Zarmi) |
| Committee assignments | Executive Committee member (alongside Rayman, Chair, and DeVries in FY2024) |
| Executive Committee activity | 0 meetings in FY2024 |
| Board activity & attendance | Board held 7 meetings; each incumbent director attended ≥75% of Board and relevant committee meetings during their service period |
| Lead Independent Director | Matthew E. Winter; chairs Audit; provides governance counterbalance |
| Controlled company transition | ADT ceased “controlled company” status in Mar 2024; now majority-independent Board and all key committees fully independent |
Fixed Compensation
| Component | Amount/Policy | Coleman-specific |
|---|---|---|
| Annual cash retainer | $100,000 for eligible non-employee directors; committee chair retainers: Audit $25,000, Compensation $20,000, Nominating & Governance $15,000; Lead Independent Director +$25,000 | Coleman is excluded because Apollo employees do not receive ADT director compensation; not listed in FY2024 director compensation table |
| Equity (RSUs) | ~$150,000 grant value, 1-year vest for eligible independent directors; prorated for mid-year appointees | Not applicable to Coleman (Apollo employee) |
Performance Compensation
No performance-linked director compensation (e.g., PSUs/options) is disclosed for non-employee directors; Coleman, as an Apollo employee, received no ADT director equity awards.
Other Directorships & Interlocks
| Relationship | Details | Governance Signal |
|---|---|---|
| Apollo nomination/approval rights | Apollo owns ~32.9% and may nominate 40% of Board; retains approval rights for specified actions while owning ≥25%; quorum rules require an Apollo designee present if Apollo owns any shares | Persistent influence and structural rights are a governance sensitivity even post-controlled-company status |
Expertise & Qualifications
- Private equity investing across multiple industries; evaluation of investments at Apollo; prior experience at Veritas Capital.
- Education: BA (Commerce, Organizations and Entrepreneurship), Brown; MBA, Wharton School.
Equity Ownership
| Security | Amount Beneficially Owned | % Outstanding |
|---|---|---|
| ADT Common Stock + vested options | — | 0% |
| ADT Class B Common Stock | — | 0% |
| TopCo Parent Class A-2 Units | — | 0% |
Company equity policies:
- Anti-hedging and anti-short-sale policy for all personnel; anti-pledging policy (pre-existing pledges grandfathered).
- Stock ownership guideline applies to independent directors (5× annual cash retainer); not applicable to Coleman given non-independent status.
Governance Assessment
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Strengths
- Board majority independent; Audit, Compensation, and Nominating & Governance Committees fully independent; robust Lead Independent Director role.
- Clear risk oversight via Audit Committee; ERM aligned to COSO framework; regular compliance and cybersecurity reviews.
- Annual equity grants for independent directors are time-based RSUs; simple, transparent structure.
- Clawback policy aligned with Dodd-Frank/NYSE; insider trading controls with pre-approval and trading windows.
-
Risks/Red Flags
- Apollo maintains nomination and approval rights and quorum provisions requiring an Apollo designee when Apollo owns shares; potential board autonomy and minority shareholder concern despite end of controlled company status.
- Related-party transactions with Apollo-affiliated entities (e.g., ~$3.8m cloud communications; ~$404k IT; ~$400k private clubs/resorts; ~$251k hotel) — disclosed as arm’s-length; continued in 2025 for some — require ongoing Audit Committee vigilance.
- Executive Committee (including Coleman) held no meetings in FY2024; limited observable committee engagement signal relative to oversight contribution.
- Coleman has no disclosed personal ADT equity ownership; alignment is indirect via Apollo’s stake (Apollo funds 278,650,366 common shares, 35.2% of common; total including class B 32.9% overall) — alignment depends on Apollo’s priorities.
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Attendance & Engagement
- FY2024: Board held 7 meetings; each incumbent director attended ≥75% of Board/committee meetings; 10 directors attended the 2024 Annual Meeting.
Notes on Director Compensation Context
- FY2024 director compensation table lists only eligible independent non-employee directors; Apollo, Temasek, and State Farm employees serving on the Board do not receive ADT director compensation (explains Coleman’s absence from the table).