Arthur Collins
AFLACAbout Arthur R. Collins
Founder and Chairman of theGROUP, Arthur R. Collins (age 65) has served on Aflac Incorporated’s Board since 2022 and is an independent director under NYSE standards . He chairs the Corporate Social Responsibility & Sustainability Committee and sits on the Corporate Governance Committee, bringing over 30 years of government relations, regulatory, and strategic communications expertise to the Board . In 2024, he attended at least 75% of Board and committee meetings during his service period; the Board met four times and all directors met the attendance threshold .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| theGROUP | Founder & Chairman | Since 2011 | Government relations and strategic communications firm; advisor to corporate leaders and governments |
| Public Private Partnership, Inc. | Chairman & CEO | 1989–2011 | Strategic advisory with concentrations in real estate, healthcare, and global public policy |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KB Home | Director | Since 2020 | Nominating & Corporate Governance (since 2023); Management Development & Compensation (since 2022) |
| RLJ Lodging Trust | Director | Since 2016 | Compensation; Nominating; Corporate Governance Committees (since 2016) |
| Council on Foreign Relations | Member | Since 2023 | Policy and international affairs network engagement |
| Ford’s Theatre Board of Trustees | Member | Since 2023 | Non-profit governance |
| Smithsonian’s National Museum of Asian Art Board of Trustees | Member | Since 2022 | Cultural institution oversight |
| Brookings Institution | Vice Chair, Board of Trustees | 2014–2023 | Think tank governance leadership |
| Morehouse School of Medicine | Chairman, Board of Trustees | Since 2009 | Academic and healthcare governance |
| Meridian International Center | Board of Trustees | 2009–2017 | International engagement |
| Florida A&M University | Chairman, Board of Trustees | 2001–2003 | Academic governance |
Board Governance
- Independence: The Board determined all director nominees other than the CEO are independent under NYSE listing standards; Collins is independent .
- Committee assignments: Corporate Governance (member) and Corporate Social Responsibility & Sustainability (Chair) .
- Attendance: Board met 4 times in 2024; all directors attended ≥75% of Board and committee meetings for their service period; all directors attended the 2024 annual meeting .
- Engagement focus: CSR/Sustainability oversight includes review of annual CSR report, environmental stewardship policy goals, and philanthropy (e.g., My Special Aflac Duck program; carbon neutrality progress) .
| AFL Board Committees (2024) | Role | Meetings in 2024 | Key Responsibilities |
|---|---|---|---|
| Corporate Governance | Member | 2 | Director selection, committee assignments, governance principles, Board evaluations, succession planning |
| Corporate Social Responsibility & Sustainability | Chair | 2 | Oversight of CSR and sustainability policies, stakeholder impacts, environmental goals, CSR report review |
Fixed Compensation
| Component | Amount (2024) | Notes |
|---|---|---|
| Annual cash retainer | $135,000 | Standard non-employee director retainer |
| Committee chair fee (CSR) | $25,000 | Chair fee for CSR Committee |
| Total fees earned (cash) | $160,000 | Cash retainer + chair fee |
| Annual equity grant (restricted stock) | $180,051 | Granted May 6, 2024 at $84.73 per share; vests at next annual meeting |
| Total 2024 director compensation | $340,051 | Cash + equity |
Additional structure and vesting:
- Upon joining, directors may receive options or restricted stock; annual grants typically restricted stock; annual grant value ~ $180,000; options fair value basis $17.34 in 2022–2024 if used .
- Annual restricted stock vests at the next annual meeting (generally subject to continued service); joining grants vest after one year; death/disability/change in control accelerate vesting .
Performance Compensation
Directors do not receive performance-based compensation; non-employee director equity awards are time-based (restricted stock) with no disclosed performance metrics .
| Performance Metric | Disclosure Status | Note |
|---|---|---|
| Financial/Operational targets | Not applicable | Director equity grants are time-based; no MIP/LTI metrics apply to directors |
Other Directorships & Interlocks
| Company | Sector | Potential Interlock/Conflict |
|---|---|---|
| KB Home | Homebuilding | No customer/supplier/competitor interlock disclosed with AFL |
| RLJ Lodging Trust | Lodging REIT | No customer/supplier/competitor interlock disclosed with AFL |
Related person transactions policy requires Audit & Risk Committee review of transactions >$120,000 involving directors or related parties; 2024 disclosures do not identify any Collins-related transactions .
Expertise & Qualifications
- Governmental affairs and regulatory strategy, with counsel to corporate leaders and domestic/foreign governments; experience across financial services, trade, energy, IT, healthcare, transportation, manufacturing, and national security .
- Board-level CSR leadership; oversight of sustainability and philanthropic programs (e.g., environmental goals, My Special Aflac Duck) .
- Broad non-profit and academic governance experience (Brookings, Morehouse School of Medicine, Smithsonian) .
Equity Ownership
| Measure | Value | Notes |
|---|---|---|
| Beneficial ownership (shares) | 7,763 | <0.1% of outstanding; no pledged shares |
| Voting rights | 7,763 | Presumed one vote per share unless time-phased long-term status applies |
| Restricted stock held (12/31/2024) | 2,156 shares | From May 6, 2024 grant; vests at next annual meeting |
| Options | None disclosed | Only two directors held options in 2024 (not Collins) |
| Ownership guideline | 5× annual cash retainer; restricted shares count; options do not | |
| Compliance status | All non-employee directors either meet or are within allowed time frame to meet guidelines | |
| Hedging/Pledging | Hedging prohibited; directors may not pledge company stock |
Governance Assessment
- Board effectiveness: Collins strengthens Board oversight of CSR and sustainability as Committee Chair, aligning with recognized ethics and sustainability accolades (Ethisphere “World’s Most Ethical Companies” 19th consecutive year; Dow Jones Sustainability North America Index) which can support investor confidence in non-financial risk management .
- Independence & attendance: Independent status, clear committee responsibilities, and satisfactory attendance support governance quality .
- Pay & alignment: Director pay mix balances cash retainer with meaningful equity ($180,051 annual restricted stock) and stringent stock ownership guidelines (5× retainer), with anti-hedging/anti-pledging policies enhancing alignment and reducing agency risk .
- Conflicts: No related-party transactions involving Collins disclosed; policy requires Audit & Risk Committee approval for any such transactions, mitigating conflict risk .
- Shareholder signals: Say-on-pay support of 96.4% in 2024 and robust shareholder engagement processes indicate constructive investor relations and responsiveness (Board-wide; relevant to governance environment) .
Overall implication: Collins’ regulatory and public policy expertise coupled with CSR chair responsibilities contributes positively to non-financial risk oversight and stakeholder alignment, with no disclosed personal conflicts and strong ownership/behavioral policies reinforcing investor confidence .