Neville R. Ray
About Neville R. Ray
Neville R. Ray, age 62, is an independent director of American Tower Corporation (AMT) since March 2024, serving on the Compensation Committee since May 2024. He is the former President of Technology at T-Mobile US, Inc. (served until 2023) and previously CTO from December 2010 to November 2019; he joined T-Mobile (then VoiceStream) in April 2000 after earlier roles at Pacific Bell Mobile Services . The Board has affirmatively determined his independence under NYSE rules, noting his prior affiliation with T-Mobile and his recusal from material deliberations concerning affiliated companies; he is no longer a T-Mobile employee as of his AMT election . In 2024 Board meetings, each director—except Ray, who was recently elected—attended at least 75% of Board meetings; Ray also did not attend the 2024 Annual Meeting, though AMT reports each director attended at least 75% of committee meetings for committees served .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| T-Mobile US, Inc. | President of Technology | Until 2023 | Senior leadership of nationwide network buildout |
| T-Mobile US, Inc. (VoiceStream) | Chief Technology Officer | Dec 2010–Nov 2019 | Technology strategy and operations |
| T-Mobile/VoiceStream | Joined company | Apr 2000 | Long-tenured operator in wireless networks |
| Pacific Bell Mobile Services | Network Vice President | Prior to T-Mobile | Operational network leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Ziff Davis, Inc. | Director (public company) | 2024–present | Current public board service |
| Opanga Networks, Inc. | Director | 2025–present | Technology company governance |
| Nokia | Advisor | 2025–present | Industry advisory role |
| Paradise Mobile | Advisor | 2024–present | Industry advisory role |
| Ciena | Advisor | 2023–present | Industry advisory role |
| U.S. President’s NSTAC | Member | Current | National security telecom advisory |
| 5G Americas | Chair, Board of Governors (past) | Past | Industry leadership |
| CTIA | Vice Chairman (past) | Past | Industry leadership |
| NTIA CSMAC; FCC CSRIC | Member (past) | Past | Spectrum and network reliability advisory |
Board Governance
- Committee memberships: Compensation Committee member (not Chair), joined May 2024; Compensation Committee held 5 meetings in 2024 .
- Independence: Non-management director; Board determined independence under NYSE Section 303A.02; recusal from deliberations related to affiliated companies; T-Mobile was a top customer in 2024 but Ray was no longer an employee when elected .
- Attendance: In 2024, Board held 4 regular and 6 special meetings; each director—except Ray, who was recently elected—attended at least 75% of Board meetings; all directors serving at the time—except Ray—attended the 2024 Annual Meeting. AMT states each director attended at least 75% of relevant committee meetings .
Fixed Compensation
| Element | Amount | Period/Timing | Notes |
|---|---|---|---|
| Annual cash retainer (standard non-management director) | $100,000 | As of Dec 31, 2024 | Standard arrangement |
| Committee fees – Compensation Committee member | $15,000 | As of Dec 31, 2024 | Member fee (Chair also $15,000) |
| Director cash fees – Neville R. Ray | $82,500 | FY 2024 | Fees earned/paid in cash in 2024 |
| Director stock awards – Neville R. Ray | $0 | FY 2024 | Did not receive 2024 stock award; joined March 2024 |
Performance Compensation
| Equity Instrument | Grant Date | Shares/Units | Vesting | Grant-Date Value |
|---|---|---|---|---|
| RSUs (standard annual grant to non-management directors) | Mar 11, 2024 | 1,089 | Fully vests on one-year anniversary | $206.75 per share; aggregate $225,151 per director |
| Neville R. Ray RSU grant | N/A (2024) | — | — | No 2024 grant due to timing of election |
- No performance-based equity (e.g., PSUs) is disclosed for non-management directors; RSUs vest time-based as noted above .
Other Directorships & Interlocks
| Company | Relationship to AMT | Role/Committee | Notes |
|---|---|---|---|
| Ziff Davis, Inc. | Unrelated to AMT’s tower operations | Director | Current public company board |
| T-Mobile US, Inc. | Top customer in 2024 | Former executive; not an AMT director role | Board determined independence; Ray no longer employee at election; recuses from deliberations as necessary |
- AMT’s Corporate Governance Guidelines require recusal from deliberations involving affiliated companies; Board independence affirmed with bright-line and materiality tests applied .
Expertise & Qualifications
- 30+ years building and operating wireless networks in the U.S. and globally; deep technology and innovation expertise .
- Broad perspective from national security, spectrum, and industry bodies (NSTAC, 5G Americas, CTIA, CSMAC, CSRIC) .
- Public company board experience (Ziff Davis) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Common Stock | Notes |
|---|---|---|---|
| Neville R. Ray | — | <1% | As of March 17, 2025 security ownership table |
- Stock ownership guidelines: Non-management directors must hold 5x annual cash retainer; compliance window is five years from appointment; AMT counts actual shares and unvested RSUs toward compliance. As of March 17, 2025, each director met the target or was within the timeframe to meet it .
- Anti-Insider Trading: Hedging and pledging of AMT securities are prohibited for directors; short sales and similar arrangements barred .
Governance Assessment
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Strengths
- Industry-specific expertise in wireless networks and technology risk, valuable for AMT’s digital infrastructure oversight .
- Independence confirmed; recusal framework mitigates potential conflicts tied to former affiliations (e.g., T-Mobile) .
- Serves on Compensation Committee, which uses an independent consultant and maintains clawback and ownership policies; committee met five times in 2024 .
-
Alignment Considerations
- Director equity alignment: AMT’s standard RSU program provides annual equity; Ray did not receive a 2024 grant due to timing of election, but is within the five-year guideline compliance window .
- Ownership currently reported as no beneficial shares; guideline framework should drive accumulation over time .
RED FLAGS
- 2024 attendance: Each director except Ray attended at least 75% of Board meetings and the 2024 Annual Meeting; Ray’s attendance level reflects recent election timing but is nonetheless below AMT’s typical threshold for Board meetings .
- Related party exposure: AMT disclosed a related-party transaction with Ligado (linked to CFO’s family), but no Ray-specific related party transactions were disclosed; continued monitoring advisable given advisory roles with telecom suppliers, with reliance on recusal and independence guidelines .
- No delinquent Section 16(a) reports were noted for Ray; AMT reported compliance with one late initial filing by another executive (Mr. Rossi) in early 2025 .