Elizabeth Lund
ATIAbout Elizabeth Lund
Elizabeth Lund is an independent Class III director at ATI, appointed effective November 1, 2025, with a term expiring at the 2026 Annual Meeting; she serves on the Audit & Risk Committee . She retired from Boeing in March 2025 after a 34-year career, most recently as Senior Vice President of Quality for Boeing Commercial Airplanes and Chair of Boeing’s Enterprise Quality Operations Council . Lund holds a BS in Mechanical Engineering (University of Tulsa) and an MS in Mechanical and Aerospace Engineering (University of Missouri–Columbia), and received the Women in Aerospace Outstanding Achievement Award in 2015 . The Board has determined she is independent under NYSE listing standards and ATI’s independence guidelines .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boeing Commercial Airplanes | Senior Vice President, Quality; Chair, Enterprise Quality Operations Council | 2024–Mar 2025 | Led enterprise-wide safety and quality reforms with FAA; advanced quality and operational excellence . |
| Boeing Commercial Airplanes | Senior Vice President, Airplane Programs | 2021–2024 | Responsible for production and delivery across all commercial aircraft; tripled aircraft delivery performance during a critical ramp . |
| Boeing | Vice President & General Manager, Supply Chain | 2019–2021 | Oversaw ~3,000 suppliers in 41 countries covering >65% of production costs; global supply chain leadership . |
| Boeing (earlier roles) | Engineering, program management, manufacturing, supplier management | Various | Senior leadership across engineering/operations; recognized industry impact . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed; no related-party transactions requiring disclosure were reported at appointment . |
Board Governance
- Independence: Board determined Lund is independent at appointment .
- Committee assignment: Audit & Risk Committee member (standing committees are fully independent) .
- Director term/class: Appointed as Class III director; term expires at the 2026 Annual Meeting .
- Attendance/engagement: ATI reported 96% overall Board and committee meeting attendance for 2024 (pre-appointment); all directors attended the 2024 Annual Meeting . Executive sessions of independent directors are held regularly .
- Board size/composition: Board fixed at ten in the 2025 proxy; later expanded to twelve on Sep 10, 2025 to add Lund and Lydon-Rodgers .
- Lead Independent Director: J. Brett Harvey; executive sessions presided by Lead Independent Director .
Fixed Compensation
| Pay Component | Standard Amount | Notes |
|---|---|---|
| Annual Retainer | $250,000 | $125,000 cash + $125,000 in restricted stock value . |
| Lead Independent Director Retainer | $40,000 | Applicable only if serving as Lead Independent Director . |
| Committee Chair Retainers | Audit & Risk: $25,000; Compensation & Leadership Development: $20,000; Nominating & Governance: $15,000 | Chairs only; Lund is a member, not chair (as disclosed) . |
| Equity grant mechanics | RSUs vest on first anniversary (or earlier upon retirement/death/change-of-control); fair value measured using average high/low on grant date | 2024 director RSU fair values were ~$124,986 each under program . |
| Cash-to-stock election | Directors may elect to receive cash retainer in ATI stock | Aligns incentives with shareholders . |
Non-employee directors are not granted options or non-equity incentive awards; board travel expenses are paid; no pensions or deferred comp earnings for directors .
Performance Compensation
| Component | Metric | Vesting/Terms | Notes |
|---|---|---|---|
| Director equity (RSUs) | None (time-based) | Vests at 1 year (or earlier upon specified events) | No performance-based director equity; no options for directors . |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlock/Conflict Notes |
|---|---|---|---|
| — | — | — | No other public company boards disclosed; no Item 404(a) related-party transactions involving Lund reported at appointment . |
Expertise & Qualifications
- Deep operational excellence and quality oversight across large-scale aerospace programs; led enterprise quality initiatives interfacing with FAA .
- Global supply chain leadership overseeing ~3,000 suppliers in 41 countries and >65% of production cost base .
- Manufacturing, engineering, and program delivery expertise aligned to ATI’s core aerospace and defense end markets .
Equity Ownership
| Date | Filing | Total Beneficial Ownership | Notes |
|---|---|---|---|
| Nov 12, 2025 | Form 3 | 0 shares | Initial statement of beneficial ownership filed; “No securities are beneficially owned.” . |
- Director ownership guidelines: Expected to own ATI stock equal to ≥4× annual cash retainer within five years; must retain one‑third of awarded stock until guidelines met; directors may elect to receive cash retainer in stock .
- Hedging/pledging: Officers and directors are prohibited from hedging or pledging ATI stock .
Governance Assessment
- Positive signals:
- Independence and Audit & Risk Committee appointment enhance financial reporting, risk, and cybersecurity oversight .
- Strong operational and quality background supports board effectiveness in ATI’s core aerospace/defense markets .
- No related-party transactions disclosed at appointment; robust related-party policy and Audit & Risk oversight .
- Director ownership guidelines and ability to take retainers in stock support alignment over time .
- Watch items:
- Initial alignment is low given Form 3 shows zero holdings at appointment; expected to build ownership under guidelines over five years .
- Industry ties to Boeing (major aerospace OEM) warrant ongoing monitoring for potential perceived conflicts; none disclosed or reportable at appointment .
Insider Filings & Trades
| Form | Filing Date | Summary |
|---|---|---|
| Form 3 | Nov 12, 2025 | Initial statement; no securities beneficially owned; filed via attorney-in-fact . |
Related Policies & Context
- Board/committee independence; executive sessions; majority resignation policy; proxy access; and director self-evaluations underscore governance quality .
- 2024 meeting counts: Audit & Risk (8), Nominating & Governance (3), Compensation & Leadership Development (4) — indicates active committee oversight cadence .
- Related-party transactions policy requires Audit & Risk approval; no related-party transactions disclosed for 2024 .
RED FLAGS
- None disclosed: No Item 404(a) related-party transactions, no hedging/pledging, no option repricing, and no director attendance issues (Lund joined post-2024 reporting) .
Employment & Contracts (Director)
- Term: Class III director term through 2026 Annual Meeting .
- Compensation: Standard non‑employee director program as outlined in proxy; no employment agreement; no options; RSU vesting at one year .
- Change-in-control terms: Director RSUs vest earlier upon change of control per program terms .
Say‑on‑Pay & Shareholder Feedback (Board Context)
- ATI’s executive “Say on Pay” received >98% approval at the 2023 and 2024 Annual Meetings, reflecting broad investor support for pay-for-performance culture (context for board oversight of compensation) .