John Leong
About John T. Leong
Independent director of Alexander & Baldwin, Inc. (ALEX); age 47; joined the Board in 2020. Co-Founder and CEO of Kupu (non-profit focused on conservation and youth education) since January 2007 and Co-Founder and CEO of Pono Pacific Land Management, LLC since August 2000. Board biography highlights experience in non-profit leadership, environmental and community matters, and exposure to commercial real estate via family holdings; noted familiarity with Hawaii markets through extensive local engagement . Determined independent under NYSE rules; ALEX’s Board structure features an independent Chair and Lead Independent Director .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kupu | Co-Founder & CEO | Jan 2007–Present | Environmental/community leadership; youth education focus |
| Pono Pacific Land Management, LLC | Co-Founder & CEO | Aug 2000–Present | Environmental stewardship; Hawaii market experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Various corporate and non-profit boards | Director/Board Member | Not specified | Board bio notes service on “various corporate and non-profit boards”; no current public company directorships disclosed by name |
Board Governance
- Committee assignments: Audit Committee member; Audit met 4 times in 2024; committee members are independent; Pasquale (Chair), Laing, Leong, Yeaman; Audit Committee Financial Experts designated: Pasquale, Yeaman, Laing .
- Independence: Board determined Leong is independent under NYSE rules; all directors other than the CEO are independent .
- Attendance: Board held 7 meetings in 2024; at all regularly scheduled meetings the independent directors met in executive session; in 2024 all directors attended at least 75%, and five of six nominated directors attended 100%, of Board and applicable committee meetings .
- Board leadership: Independent, non-executive Chairman (Eric K. Yeaman) and Lead Independent Director (Douglas M. Pasquale) provide oversight; CEO is separate .
- Shareholder engagement: Management met or offered to meet with holders of ~70% of shares over the past year; Say-on-Pay support exceeded 96% in 2024 .
Fixed Compensation
2024 Director compensation (ALEX board schedule and Leong actuals):
| Pay Element | Amount | Notes |
|---|---|---|
| Board cash retainer | $60,000 | Standard non-employee director retainer |
| Audit Committee member retainer | $12,500 | In addition to Board retainer |
| Per-meeting fees (if over threshold) | $750 | Applies if meetings exceed predefined counts (Board >7; Audit >6; etc.) |
| Annual RSU equity award | $110,000 | Standard director equity (Chairman: $160,000) |
| 2024 fees earned (Leong) | $72,500 | Cash paid in 2024 |
| 2024 stock awards (Leong) | $110,009 | Aggregate grant-date fair value of RSUs |
| 2024 total compensation (Leong) | $182,509 | Sum of cash + RSUs |
Additional details:
- Directors receive annual RSU grants at the Annual Meeting; awards vest in full on the earlier of one-year anniversary or immediately prior to next year’s annual meeting; accelerated vesting upon death, disability, or retirement; management directors receive no director pay .
- No stock options have been granted to directors since 2007; no directors hold outstanding options .
Performance Compensation
Directors do not receive performance-based incentives; director equity is exclusively time-based RSUs:
| Component | Performance Metrics | Weighting | Vesting | Notes |
|---|---|---|---|---|
| Annual RSUs (directors) | None (time-based) | N/A | Vest on earlier of 1 year or next AGM; accelerated on death/disability/retirement | Annual grant under 2022 Omnibus Incentive Plan; Chairman receives larger grant |
A&B’s performance-based equity (PSUs) and cash incentives apply to NEOs, not directors; PSU metrics include 3-year relative TSR vs REIT peers and Net Debt/TTM Adjusted EBITDA for executives .
Other Directorships & Interlocks
| Item | Disclosure |
|---|---|
| Current public company boards | None specifically disclosed for Leong; bio references various corporate/non-profit boards |
| Compensation Committee interlocks | None in 2024 (company-wide disclosure) |
Expertise & Qualifications
Skills matrix summary for Leong:
- Executive leadership: Extensive (X)
- Finance/Accounting: Extensive (X)
- Commercial Real Estate/REIT: Moderate (O)
- Hawaii market/community knowledge: Extensive (X)
- Environmental: Extensive (X)
- Risk management: Extensive (X)
- Technology/cybersecurity: Moderate (O)
- Other public company board experience: Not indicated (blank) Director bio emphasizes environmental/community expertise and Hawaii market familiarity .
Equity Ownership
| Ownership Item | Value | Notes |
|---|---|---|
| Beneficial ownership (as of Feb 13, 2025) | 19,513 shares | Reported in Security Ownership table |
| RSUs held (Dec 31, 2024) | 6,749 RSUs | Year-end RSU balance for Leong |
| Options held | None | Company and directors have not granted/held options since 2007 |
| Ownership guidelines (directors) | $300,000; Chairman $500,000 | 5x annual retainer; 5-year compliance window; all current directors have met or are on track |
| Shares outstanding (record date) | 72,711,414 | As of Feb 13, 2025 |
| Ownership as % of shares outstanding | ~0.03% | Calculated from 19,513 / 72,711,414 using reported figures |
Policy notes:
- Insider trading policy prohibits speculative transactions and hedging; investments in exchange funds permitted .
- No related person transactions required to be reported since the beginning of fiscal 2024; Audit Committee pre-approves any related person transactions per policy .
Governance Assessment
- Strengths: Independent director status; Audit Committee membership enhances financial oversight; strong alignment with local market/community and environmental stewardship; Board-wide governance practices include independent leadership, majority voting, and director ownership guidelines .
- Engagement/attendance signal: Board met 7 times; independent executive sessions at each regular meeting; directors met attendance thresholds; Audit met 4 times in 2024 .
- Ownership alignment: Holds 19,513 shares plus 6,749 RSUs; director ownership guidelines target $300,000 within five years and are broadly being met/on track, supporting skin-in-the-game expectations .
- Conflicts/related-party: Dual CEO roles at Kupu and Pono Pacific noted; company reports no related person transactions since the start of fiscal 2024 and maintains robust pre-approval policy for any such transactions (mitigates conflict risk) .
- RED FLAGS: None disclosed for hedging/pledging, options repricing, or related-party transactions; hedging prohibited; no director options outstanding .