Lori O’Neill
About Lori O’Neill
Lori O’Neill, 59, is an independent director of BlackBerry Limited (BB) since June 25, 2024, and serves on the Audit and Risk Management Committee; the Board has designated her an “audit committee financial expert” under SEC rules . A FCPA/FCA and U.S. CPA with an ICD.D designation, she previously led the Canadian national technology, media and communications audit practice at Deloitte LLP over a 24-year career; she holds an honours B.Comm. from Carleton University and resides in Ontario, Canada .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte LLP | Leader, Canadian national TMT audit practice (Partner) | 24 years | Led audit practice in technology, media, communications |
| DragonWave Inc. | Director | Jun 2013 – Jul 2017 | Ontario court appointed a receiver after her resignation (Jul 31, 2017) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Constellation Software Inc. | Director | 2018 – present | Current public company directorship |
| Calian Group Ltd. | Director | 2023 – present | Current public company directorship |
| Sierra Wireless Inc. | Director | 2019 – 2022 | Prior 5-year public board service |
| Flow Beverage Corp. | Director | 2021 – 2022 | Prior 5-year public board service |
- Public company board interlocks with BlackBerry: None disclosed .
Board Governance
| Item | Detail |
|---|---|
| Independence | Independent director |
| Committee assignments | Audit and Risk Management Committee (member) |
| Audit committee financial expert | Yes (Board determination under SEC rules) |
| Board attendance FY2025 | 9/9 (100%) |
| Audit & Risk attendance FY2025 | 5/5 (100%) |
| Overall attendance FY2025 | 14/14 (100%) |
| Director election support (2024) | Votes For: 254,121,625 (95.1%); Withheld: 13,041,634 (4.9%) |
| Independent director executive sessions | Independent directors met in-camera regularly in FY2025 |
Fixed Compensation
| Director Fee Schedule (CDN) | FY2025 |
|---|---|
| Initial Board retainer (one-time; paid in DSUs) | CDN $150,000 |
| Annual Board retainer (paid in DSUs) | CDN $270,000 |
| Committee chair retainers (paid in DSUs) | Audit Chair: CDN $25,000; Compensation Chair: CDN $20,000; Nominating Chair: CDN $15,000 |
| Form of payment | 100% of director retainers paid in DSUs; DSUs held until board service ends |
| Ms. O’Neill – FY2025 Director Fees (USD) | Amount |
|---|---|
| Total fees earned (paid in DSUs; pro-rated, includes initial retainer) | $241,356 |
Performance Compensation
- No performance-based pay is disclosed for directors; retainers are delivered 100% in DSUs; no options, bonuses, or meeting fees are described for non-chair roles .
Other Directorships & Interlocks
| Company | Status | Board Interlock with BlackBerry |
|---|---|---|
| Constellation Software Inc. | Current | None |
| Calian Group Ltd. | Current | None |
| Sierra Wireless Inc. | Past (2019–2022) | None |
| Flow Beverage Corp. | Past (2021–2022) | None |
Expertise & Qualifications
- Financial/audit expertise: FCPA, FCA; U.S. CPA; designated “audit committee financial expert” by BB’s Board .
- Governance credentials: ICD.D (Institute of Corporate Directors) .
- Sector experience: Extensive technology and TMT audit/financial leadership at Deloitte .
Equity Ownership
| Ownership Item | Quantity / Detail | Valuation/Status |
|---|---|---|
| Beneficial ownership (Record Date May 2, 2025) | DSUs: 91,065; Common Shares: 0 | Value $317,817 at $3.49/Share (Record Date pricing) |
| Beneficial ownership (FYE Feb 28, 2025) | DSUs credited: 91,065 | Market value $428,916 at $4.71 (NYSE close) |
| Beneficial ownership table (Record Date) | Direct: 0; Indirect: 0; Right to Acquire (DSUs within 60 days): 91,065; Total: 91,065 | <1% of shares outstanding |
| Stock ownership guidelines (Directors) | Minimum 4x annual retainer; met within 5 years | Not yet required to meet (director <2 years) |
| Hedging/pledging | Prohibited by policy; company not aware of any current directors hedging/pledging | |
| Indebtedness to company | None for directors/officers as of Record Date |
Governance Assessment
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Strengths
- Independent director with deep finance/audit credentials; designated audit committee financial expert; placed on ARMC overseeing financial reporting and enterprise risk .
- Strong engagement: 100% attendance at Board (9/9) and ARMC (5/5); overall 14/14 .
- Shareholder support: 95.1% votes “For” at 2024 election, signaling investor confidence .
- Alignment: Director compensation paid entirely in DSUs; directors must hold DSUs until service ends; robust 4x retainer ownership guideline (compliance not yet required due to tenure) .
- Risk controls: Anti-hedging/pledging policy; no related-party transactions disclosed in FY2025; no indebtedness; regular in-camera sessions for independent directors .
-
Watch items
- Past proceeding: Served as a director of DragonWave; a receiver was appointed after her resignation (2017). Not a current issue but relevant historical context for risk diligence .
- Broader governance backdrop: 2024 Say-on-Pay support was 52.1% (below norms); the Board responded with program changes in 2025 (peer engagement, metric redesign, TSR “wrapper”). Indicates active remediation but continued investor scrutiny of compensation/governance; not specific to Ms. O’Neill .
-
Compliance/Administration
- Section 16(a) filing deficiencies disclosed for FY2025 did not involve Ms. O’Neill (noted for others only) .
- No director-related party transactions in FY2025; D&O insurance in place; indemnification consistent with law/by-laws .
Overall signal: O’Neill brings strong financial oversight and governance rigor, evidenced by ARMC service, audit expert designation, and exemplary attendance; compensation and ownership structures support alignment, with no apparent conflicts or related-party risks disclosed .