Eric Yeaman
Director at ALK
Board
About Eric K. Yeaman
Eric K. Yeaman (age 57) has served on Alaska Air Group’s board since 2012 and is currently Founder and Managing Partner of Hoku Capital LLC. He is an independent director, chairs the Audit Committee (designated an audit committee financial expert), and serves on the Governance, Nominating and Corporate Responsibility Committee . Prior roles include President & COO of First Hawaiian Bank (2015–2019), President & CEO of Hawaiian Telcom (2008–2015), senior operating and finance roles at Hawaiian Electric Company/HEI, CFO/COO at Kamehameha Schools, and earlier career at Arthur Andersen; he holds a BA from the University of Hawaii at Manoa .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| First Hawaiian Bank (subsidiary of First Hawaiian, Inc.) | President & Chief Operating Officer | 2015–2019 | Senior leadership/operator experience |
| Hawaiian Telcom, Inc. | President & Chief Executive Officer | 2008–2015 | CEO experience; telecom operations and transformation |
| Hawaiian Electric Company, Inc. (HECO) | Senior EVP & Chief Operating Officer | Not disclosed | Utility operations; enterprise risk and operations |
| Hawaiian Electric Industries, Inc. (HEI) | Financial VP, Treasurer & CFO (joined HEI in 2003) | From 2003 | Finance, treasury, CFO responsibilities |
| Kamehameha Schools | Chief Operating & Financial Officer | 2000–2003 | Institutional finance and operations |
| Arthur Andersen LLP | Various (started career) | From 1989 | Accounting/audit foundation |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Alexander & Baldwin, Inc. (public) | Director | Current | Public board service |
| Par Pacific Holdings, Inc. (public) | Director | Current | Public board service |
| Alaska Airlines, Hawaiian Holdings, Horizon Air (ALK subsidiaries) | Director | Current | Subsidiary boards |
| DR Fortress, LLC; Lanihau Properties, LLC; Palani Ranch Company, Inc. | Director/Trustee | Current | Private companies |
| Friends of Hawaii Charities, Inc.; The Harold K.L. Castle Foundation; Hawaii Asia Pacific Association | Director/Trustee | Current | Non-profit/association leadership |
Board Governance
- Independence: The board determined Mr. Yeaman is independent under NYSE standards and company guidelines .
- Committee assignments: Audit (Chair) and Governance, Nominating and Corporate Responsibility Committee .
- Audit Committee financial expert: The board designated Mr. Yeaman an “audit committee financial expert” (Sarbanes-Oxley) .
- Attendance: In 2024, the board met 5 times; Audit met 4; Governance met 3; Safety met 4; Innovation met 3. Each director attended at least 75% of applicable meetings; all directors attended the 2024 annual meeting .
- Executive sessions: Independent directors meet at least quarterly without management .
- Risk oversight touchpoints (as Audit Chair): Oversees financial reporting, enterprise risk, internal audit, compliance, information security and AI/cyber risk reviews per Audit Committee charter .
Fixed Compensation (Director)
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $90,000 | Standard director cash retainer |
| Chair retainer – Audit Committee | $30,000 | Audit chair fee |
| Total fees earned in cash (2024) | $120,043 | As reported for Yeaman |
| Annual equity retainer (grant value) | $139,957 | Vested shares/DSUs; 2024 board policy $140,000 target |
| All other compensation | $24,078 | Travel benefits, $10,000 Mileage Plan Miles, related tax reimbursements; includes $5,722 for Hawaiian Holdings subsidiary board service (9/1/2024–12/31/2024) |
| Total (2024) | $284,078 | As reported |
- Structure and changes: 2024 board compensation increased (cash retainer to $90,000; stock retainer to $140,000; chair retainers updated) to align with peer median .
- Perquisites: Positive-space travel on Alaska, Horizon and Hawaiian, plus annual Mileage Plan Miles; tax reimbursements on travel benefit; no options, no meeting fees, and no non-equity incentives for directors .
- Hedging/pledging: Directors are prohibited from pledging or hedging ALK stock under the Insider Trading Policy .
Performance Compensation (Director)
Directors do not receive performance-conditioned pay. 2024 equity was delivered as fully vested shares or vested deferred stock units (DSUs). In May 2024, Mr. Yeaman received 3,191 vested DSUs based on his 2023 deferral election; grant-date fair value $139,957 .
| Equity Detail (2024) | Grant date | Type | Units/Shares | Grant-date fair value |
|---|---|---|---|---|
| Annual director equity | May 2024 | Vested DSUs | 3,191 | $139,957 |
Other Directorships & Interlocks
- Current public boards: Alexander & Baldwin, Inc.; Par Pacific Holdings, Inc. .
- Compensation Committee interlocks: The proxy discloses no compensation committee interlocks; Mr. Yeaman is not on ALK’s Compensation & Leadership Development Committee .
- Related-party transactions: Since January 1, 2024, ALK states no transactions requiring disclosure under Item 404(a) (related persons) .
Expertise & Qualifications
- Financial/accounting and investor relations; public company governance; business development/M&A; CEO experience .
- Audit committee financial expert designation .
- Education: BA, University of Hawaii at Manoa .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Common stock beneficially owned | 24,833 | As of March 14, 2025; includes DSUs as applicable |
| DSUs granted to date (included in beneficial ownership per footnote) | 9,025 | Underlying shares issuable upon separation from the board |
| Ownership as % of shares outstanding | <1% | Company table indicates “*” (less than 1%) |
| Director stock ownership guideline | 6x annual cash retainer | Applies to non-employee directors; all met as of 12/31/2024 |
Governance Assessment
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Strengths for investor confidence:
- Independent Audit Chair with CFO/CEO background and SEC “financial expert” status enhances audit quality, disclosure rigor, and risk oversight (including cyber/AI) .
- Strong independence posture (9/10 independent nominees), quarterly executive sessions, majority voting, and proxy access support board effectiveness .
- Director pay structure is balanced (cash + equity with meaningful ownership guideline of 6x cash retainer), no options or meeting fees, and perqs are industry-typical and transparently costed .
- No related-party transactions requiring disclosure; insider trading policy prohibits pledging/hedging .
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Watch items:
- External directorships at Alexander & Baldwin and Par Pacific create broad networks; while ALK discloses no related-party transactions, potential commercial intersections (e.g., energy/fuel ecosystem generally) warrant routine monitoring by the Audit Committee; ALK reports none required to be disclosed for 2024 .
- Board chair and committee structure changes, and acquisition integration (Hawaiian) elevate oversight intensity; as Audit Chair, continued focus on integration-related financial controls and cyber/AI risk remains material .
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Attendance/engagement signal: Each director met the 75% attendance threshold in 2024; all directors attended the 2024 annual meeting, supporting engagement .
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Shareholder alignment indicators:
- Non-executive chair model, robust clawback for executives (mandatory restatement policy plus broader compliance policy), and prohibition on hedging/pledging underscore alignment and risk control, though these apply primarily to executives rather than directors .
- Say-on-pay support at 96% in 2024 (for 2023 NEO comp) reflects general investor support for ALK’s compensation governance framework .
RED FLAGS: None disclosed specific to Mr. Yeaman (no related-party transactions; not cited in delinquent Section 16 reports; meets ownership guidelines) .