Lauren Peters
AllegionAbout Lauren Peters
Lauren B. Peters, age 63, is Allegion’s independent Non-Executive Chair since 2024 and a director since 2021, with prior service as Audit and Finance Committee Chair (2022–2024) and current Chair of the Corporate Governance & Nominating Committee; she is designated an SEC Audit Committee Financial Expert and is a Certified Public Accountant with a 2024 Carnegie Mellon Cybersecurity Oversight certificate . Her Board tenure is 3.9 years (calculated through the 2025 AGM), and she is independent under NYSE standards . Peters’ background includes a 25-year career at Foot Locker culminating as EVP & CFO (2011–2021), with prior strategic planning and finance leadership roles .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Foot Locker, Inc. | EVP & CFO | 2011–2021 | Built finance org; FP&A, risk management, IR; drove process and tech improvements |
| Foot Locker, Inc. | SVP Strategic Planning | 2002–2011 | Strategy leadership |
| Foot Locker, Inc. | VP – Planning | 2000–2002 | Planning leadership |
External Roles
| Company | Role | Tenure | Committees/Impact |
|---|---|---|---|
| La-Z-Boy Incorporated (NYSE: LZB) | Director | Current | Not disclosed |
| Victoria’s Secret & Co. (NYSE: VSCO) | Director | Current | Not disclosed |
Board Governance
- Roles: Independent Non-Executive Chair (elected 2024, re-elected to one-year Chair term in 2025), Corporate Governance & Nominating Committee Chair (since 2024), Audit & Finance Committee Chair (2022–2024), Audit Committee Financial Expert .
- Independence: Determined independent (NYSE and company guidelines) .
- Attendance: In 2024, each director nominee attended ≥87% of Board meetings and 100% of their Committee meetings; Board held 8 meetings; Audit & Finance 14; Compensation & Human Capital 5; Corporate Governance & Nominating 5 .
- Executive sessions and evaluation: Independent directors meet in regular executive sessions; as Chair, Peters led the annual Board evaluation via one-on-one director interviews in 2024 .
- Time-commitment limits: Non‑employee directors may not serve on more than three other public company boards; Audit & Finance Committee members may not serve on >2 other public company audit committees .
- Risk oversight scope: Board oversight includes cybersecurity, privacy, disruptive tech, ESG; committees cover compensation risk and clawbacks; independent consultant FW Cook engaged for compensation risk review (2024 conclusion: policies do not encourage excessive risk) .
Fixed Compensation
Design and actual 2024 compensation for non-employee directors (values USD):
| Element | Program Value | Notes |
|---|---|---|
| Annual Cash Retainer | $150,000 | Payable quarterly |
| Non-Executive Chair Cash Retainer | $75,000 | Payable quarterly |
| Audit & Finance Committee Chair Retainer | $25,000 (raised from $15,000 effective Jun 6, 2024) | Payable quarterly |
| Compensation & Human Capital Committee Chair Retainer | $25,000 (raised from $12,000 effective Jun 6, 2024) | Payable quarterly |
| Corporate Governance & Nominating Chair Retainer | $15,000 (raised from $10,000 effective Jun 6, 2024) | Payable quarterly; not additive if also Board Chair |
| Special Meeting Fee | $1,500 per meeting/session | For unscheduled sessions |
Lauren Peters – actual 2024 director compensation (USD):
| Component | Amount |
|---|---|
| Fees earned/paid in cash | $185,904 |
| Stock awards (RSUs grant-date fair value) | $130,053 |
| All other compensation (dividend equivalents + Irish tax prep) | $3,418 |
| Total | $319,375 |
Perquisites available to all non‑employee directors: Product program up to $2,000/year for Allegion products and installation .
Performance Compensation
Allegion’s director equity is time-based RSUs (no performance conditions). 2024 grant mechanics:
| Grant Date | Instrument | Grant FV ($) | Shares (#) | Vesting | Dividend Equivalents |
|---|---|---|---|---|---|
| Jun 6, 2024 | RSUs (annual director grant) | $130,000 program value; Peters’ FV recorded $130,053 | Not disclosed (FV provided) | Vests after one year if director remains on Board | Accrued and paid in cash upon vesting; Peters recorded $1,865 in 2024 for vesting RSUs |
Non-Executive Chair receives additional RSUs ($75,000 FV, one-year vest) .
Other Directorships & Interlocks
| Entity | Overlap with Allegion (customers/suppliers/competitors) | Note |
|---|---|---|
| La‑Z‑Boy Incorporated (LZB) | Not disclosed | No related-person transactions >$120,000 since Jan 1, 2024 |
| Victoria’s Secret & Co. (VSCO) | Not disclosed | No related-person transactions >$120,000 since Jan 1, 2024 |
Related person transaction policy prohibits such transactions unless approved by disinterested directors; none reportable since Jan 1, 2024 .
Expertise & Qualifications
- Financial oversight: SEC Audit Committee Financial Expert; 10 years as public-company CFO; CPA .
- Cyber oversight: Certificate in Cybersecurity Oversight (Nov 2024) .
- Strategy/operations: Capital allocation, M&A, risk management, investor relations; digital transformation experience .
Equity Ownership
Beneficial ownership as of March 14, 2025:
| Holder | Ordinary Shares | Notional Shares | Options Exercisable (60 days) | % of Outstanding |
|---|---|---|---|---|
| Lauren B. Peters | 2,113 | — | — | <1% (*) |
Unvested RSUs as of Dec 31, 2024: Peters held 1,105 unvested RSUs . Anti‑hedging and anti‑pledging: Directors are prohibited from hedging or pledging Allegion stock; no pledged securities by any director . Director ownership guidelines: 3x annual cash retainer; all non‑employee directors were compliant or on track as of Dec 31, 2024 .
Governance Assessment
- Strengths: Independent Chair with finance and cyber credentials; clear separation of Chair/CEO roles; robust committee leadership and evaluation processes; strong attendance; anti‑hedging/anti‑pledging and ownership guidelines; active shareholder engagement; enhanced clawback policies and use of independent compensation consultant .
- Potential watchpoints: Absolute share ownership is modest (2,113 shares) though aligned by RSUs and ownership guideline compliance/on‑track status; director perquisites (tax prep, product program) are limited in value; no related‑party transactions reported .
- Shareholder signals: 2024 say‑on‑pay support ~85% “for”; Board refreshed and maintained independent Chair structure in response to engagement feedback .
Executive sessions generally occur at each Board and Committee meeting, supporting independent oversight, and Peters led the recent evaluation cycle as Chair, indicating active engagement in governance quality .