Katharine Plourde
ALBANY INTERNATIONAL CORP /DE/About Katharine L. Plourde
Katharine L. Plourde (age 73) has served as an independent director of Albany International Corp. since 2013. She is engaged in private investing and previously was a principal and analyst at Donaldson, Lufkin & Jenrette (DLJ), with recognized expertise in investor relations, financial reporting, corporate finance, and capital markets; she was inducted into the Institutional Investor Research Hall of Fame in 2011 . At Albany, she chairs the Governance Committee and serves on the Audit Committee, reflecting deep board governance and financial oversight experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Donaldson, Lufkin & Jenrette | Principal and Analyst | Prior to 2011 | Institutional investor stock selection; valuation and strategy with investment bankers; recognized in Institutional Investor Research Hall of Fame (2011) |
| Pall Corporation | Director (prior) | Not disclosed | Audit Committee member |
| OM Group Inc. (OMG) | Director; Lead Independent Director (prior) | Not disclosed | Audit Committee member; Lead Independent Director responsibilities |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Evercore Equity Fund (mutual fund) | Director | Since 2014 | Board service at mutual fund entity |
Board Governance
- Independence and attendance: Albany’s board comprises 8 of 9 independent directors; all committees are fully independent. The Board met 10 times in 2024 with 97% aggregate Board attendance and 96% aggregate committee attendance; all director nominees attended the 2024 Annual Meeting .
- Committee assignments (2024/2025): Plourde is Chair of the Governance Committee (4 meetings, 100% attendance overall) and a member of the Audit Committee (9 meetings, 96% attendance overall). Audit Committee members are deemed financially literate and “financial experts” under SEC Item 407; all are independent under NYSE and SEC Rule 10A‑3 .
- Board leadership: Albany separates the CEO and Chair roles; non-management directors meet in executive session after each regular Board meeting .
| Committee | Plourde’s Role | 2024 Meetings | Attendance (Committee Aggregate) |
|---|---|---|---|
| Governance | Chair | 4 | 100% |
| Audit | Member | 9 | 96% |
Fixed Compensation (Director Pay)
Albany’s standard director pay effective January 2024 includes cash retainer, role-based cash fees, and an annual equity grant. Plourde’s 2024 compensation (as earned/paid) is below.
| Component | Amount | Source |
|---|---|---|
| Annual Cash Retainer | $85,000 | Director pay schedule |
| Governance Committee Chair Fee | $12,000 | Role-based retainer |
| Audit Committee Member Fee | $12,000 | Committee membership fee |
| Meeting/Other Fees (as applicable) | $1,500 per day when engaged at Chair/CEO/Committee Chair request | Activity-based fee |
| Annual Equity Grant (Class A shares) | $135,000 | Equity retainer |
| 2024 Cash Earned (Plourde) | $110,567 | Reported compensation table |
| 2024 Stock (Plourde) | $134,933 | Reported compensation table |
| 2024 Total (Plourde) | $245,500 | Reported compensation table |
Notes:
- Directors may elect to receive unpaid cash retainer in stock and may defer stock grants into RSUs under the 2023 LTIP per deferral elections .
- No director nominees are eligible for the legacy director pension .
Performance Compensation
- Non-employee directors do not receive bonuses, options, or performance share units; compensation is structured as cash retainers and annual equity grants with optional deferral into RSUs .
- Therefore, no director-specific performance metrics (e.g., EBITDA, TSR hurdles) apply to Plourde’s compensation.
Other Directorships & Interlocks
| Company/Entity | Type | Role | Interlocks/Notes |
|---|---|---|---|
| Evercore Equity Fund | Mutual fund | Director (since 2014) | External board role |
| Pall Corporation | Public company (prior) | Director; Audit Committee | Prior service, not current |
| OM Group Inc. | Public company (prior) | Director; Lead Independent Director; Audit Committee | Prior service, not current |
- Compensation Committee interlocks: None—no members (including Plourde, who is not on the Compensation Committee) had interlocking relationships requiring disclosure in 2024 .
Expertise & Qualifications
- Financial and capital markets expertise; investor relations and accounting literacy .
- Specialty materials and chemicals domain experience supports Albany’s materials science businesses; governance chair role based on prior Nominating/Governance experience at Pall and OMG .
- Audit Committee service reflects financial literacy and “financial expert” qualification collectively across committee .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class A | Pledging/Hedging |
|---|---|---|---|
| Katharine L. Plourde | 15,969 | <1% (a) | No shares pledged; prohibition on hedging/pledging noted in governance practices |
- Ownership excludes deferred shares under the Non‑Employee Director Deferred Compensation Plan .
- Director share ownership guideline: hold shares equal to 3× annual cash and stock retainer; directors are expected to retain awarded/acquired shares until guideline met .
Governance Assessment
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Strengths:
- Independence: Long-serving independent director; all committees are independent; Governance Chair and Audit member appointments enhance oversight .
- Attendance and engagement: Strong Board and committee attendance rates overall; executive sessions of non-management directors at each regular meeting .
- Financial oversight: Audit Committee composition deemed financially literate and “financial expert,” bolstering reporting and control oversight .
- Pay alignment: Mix of cash retainer and equity; optional stock election and deferrals reinforce alignment; no director pensions for nominees .
- Conflicts: No related party transactions since Jan 1, 2024; no shares pledged; insider trading policy and hedging/pledging prohibitions disclosed .
- External benchmarking: Director compensation set with Pearl Meyer benchmark data; Compensation Consultant assessed independent; broader pay program enjoys high say‑on‑pay support (93.88% in 2024) .
-
Potential watch items:
- Tenure and age: Long tenure (since 2013) and seniority may warrant periodic refresh review, mitigated by Governance Chair role overseeing board effectiveness and succession planning .
- External roles: Current mutual fund board role is not an operating company directorship; prior public company board roles are historical; continue monitoring for any new interlocks or market-facing commitments .
Overall signal: Plourde’s governance leadership and financial acumen, combined with independent committee structures, high attendance, and alignment-oriented director pay design, support investor confidence. No current red flags (related-party transactions, pledging, or hedging) are disclosed for the period .