Julie Doyle
About Julie Doyle
Julie P. Doyle, 61, is an independent director of Bank of the James Financial Group, Inc. (BOTJ) serving since 2011; her current term (Group Two) expires in 2026 . She retired in 2021 as President and Executive Director of The Education & Research Foundation, Inc. (clinical research), and previously worked for Honeywell and Westinghouse . She holds a B.S. in Mechanical Engineering from the University of Notre Dame and an MBA from George Washington University . She currently serves as Board Chair of the University of Lynchburg and is the immediate past president of the Lynchburg City Schools Education Foundation .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Education & Research Foundation, Inc. | President & Executive Director | Retired 2021 | Led a clinical research site; executive experience |
| Honeywell | Management roles (prior employment) | Not disclosed | Industrial/engineering background |
| Westinghouse | Management roles (prior employment) | Not disclosed | Industrial/engineering background |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| University of Lynchburg | Board Chair | Current as of 2025 | Chair-Elect in 2024 |
| Lynchburg City Schools Education Foundation | Immediate Past President | Current as of 2025 | Served as board President in 2024 |
| Lynchburg City School Board | Chair (former) | Past | Local education governance |
| Notre Dame Monogram Club | President (former) | Past | Alumni leadership |
| Centra Health, Inc. | Director (former) | Past | Health system governance; interlock network with director Lewis C. Addison (former Centra CFO) |
Board Governance
- Independence: The board determined Julie P. Doyle is “independent” under Nasdaq Rule 5605(a)(2) .
- Tenure and status: Director since 2011; Group Two; current term expires 2026 .
- Committee memberships (Financial, year ended 2024): Audit Committee member; not listed on Executive, Nominating, or Compensation Committees .
- Audit Committee oversight: Committee had 4 meetings in 2024; Lewis C. Addison is the audit committee financial expert; all committee members are independent .
- Attendance: All directors attended the 2024 Annual Meeting; in 2023 Ms. Doyle did not attend the Annual Meeting (≥75% board/committee meeting attendance overall in 2023 for all directors) .
| Committee | Membership | Chair | Notes |
|---|---|---|---|
| Audit Committee | Member | Augustus A. Petticolas Jr. | 4 meetings in 2024; oversees risk management |
| Executive Committee | Not listed | Thomas W. Pettyjohn Jr. | 12 meetings in 2024 |
| Nominating Committee | Not listed | Watt R. Foster, Jr. | Independent members |
| Compensation Committee | Not listed | Thomas W. Pettyjohn Jr. | Independent; Financial Committee did not meet in 2024 (Bank’s met) |
Fixed Compensation
- Structure (non-employee directors): Cash-only fees and retainers; no equity awards under the 2018 Equity Incentive Plan . Standard fees include board meeting fees and annual retainers (detail below); committee meetings $400 per meeting; if Financial & Bank committee meetings occur same day, $400 total .
- 2023 standard schedule (illustrative): Board fees $1,000 per meeting ($1,200 when combined Financial/Bank); annual retainer $8,000 for directors; committee chair retainers ($3,000 Audit/Executive/Compliance; $2,000 Compensation/Nominating) .
| Year | Fees Earned or Paid in Cash ($) | Option Awards ($) | Non-Equity Incentive ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | $24,200 | - | - | - | $24,200 |
| 2023 | $22,300 | - | - | - | $22,300 |
| Component | Amount |
|---|---|
| Board meeting fee (2023 schedule) | $1,000 per meeting; $1,200 if Financial and Bank meetings same day |
| Annual director retainer (2023) | $8,000 |
| Committee meeting fee | $400 per meeting; $400 total if Financial & Bank committees same day |
| Eligibility for equity awards | Non-employee directors not eligible under 2018 plan |
Performance Compensation
- Non-employee directors receive no performance-based equity or cash incentives; non-employee directors are not eligible for awards under the 2018 Equity Incentive Plan .
| Metric | Applies to Directors? | Notes |
|---|---|---|
| RSUs/PSUs grant value | No | Non-employee directors ineligible |
| Options (strike/vesting) | No | Non-employee directors ineligible |
| Performance bonus tied to TSR/EBITDA | No | Cash fees/retainers only |
Other Directorships & Interlocks
| Company/Organization | Public/Private | Role | Potential Interlock/Notes |
|---|---|---|---|
| University of Lynchburg | Private (academic) | Board Chair | Academic governance |
| Lynchburg City Schools Education Foundation | Non-profit | Immediate Past President | Local education philanthropy |
| Centra Health, Inc. | Private (health system) | Former director | Network tie: Lewis C. Addison is former Centra CFO |
| Notre Dame Monogram Club | Non-profit (alumni) | Former President | Alumni leadership |
| Lynchburg City School Board | Governmental | Former Chair | Public sector governance |
No current public company directorships are disclosed for Ms. Doyle in BOTJ proxies .
Expertise & Qualifications
- Mechanical engineering (B.S., University of Notre Dame) and MBA (George Washington University), bringing technical and financial acumen .
- Executive leadership in clinical research operations and prior industrial experience at Honeywell/Westinghouse .
- Community and academic governance experience (University of Lynchburg Board Chair; local education leadership) strengthening stakeholder ties .
- Contributes “executive experience” and “strong financial background” per BOTJ board qualifications .
Equity Ownership
| As-of Date | Common Stock Owned Beneficially (#) | % of Class | Notes/Breakdown |
|---|---|---|---|
| March 26, 2024 | 18,203 | <1% | Includes 5,200 shares in husband’s revocable trust; 2,050 shares in husband-owned entity; 1,100 shares owned by husband |
| March 25, 2025 | 18,203 | <1% | Includes 5,200 shares in husband’s revocable trust; 2,050 shares in husband-owned entity; 1,100 shares owned by husband |
- Officers and directors as a group owned 696,798 shares (15.34%) as of March 26, 2024; 698,494 shares (15.37%) as of March 25, 2025 .
- Anti-hedging policy prohibits directors and insiders from entering hedging transactions in BOTJ equity securities .
- No disclosure of shares pledged as collateral for Ms. Doyle; no director-specific loans or related-party transactions involving Ms. Doyle are reported .
Governance Assessment
- Board effectiveness: Ms. Doyle is an independent director (since 2011) and serves on the Audit Committee overseeing risk management; committee is fully independent with a designated financial expert (Addison) and met 4 times in 2024 .
- Ownership alignment: She beneficially owns 18,203 shares (<1%), with family-related holdings disclosed; however, director compensation is cash-only and non-employee directors are ineligible for equity awards, potentially limiting ongoing pay-for-performance alignment .
- Engagement: All directors attended the 2024 Annual Meeting; Ms. Doyle did not attend the 2023 Annual Meeting, though all directors met the ≥75% attendance threshold for board/committee meetings in 2023 .
- Conflicts/related-party exposure: No related-party transactions disclosed for Ms. Doyle; broader board-related party items include rent paid to an entity owned by director Bryant and purchases of 2020 Notes by an unnamed board member/family; these did not affect director independence determinations for Ms. Doyle .
- Compensation governance: Compensation Committees are independent; Financial’s committee did not meet in 2024 due to structure (employees at Bank level); Pearl Meyer engaged for executive benchmarking and incentive plan design at the Bank, with continued discretionary bonuses—a neutral-to-positive governance signal for executive pay process (not directly applicable to directors) .
RED FLAGS
- Missed 2023 Annual Meeting attendance by Ms. Doyle (not pervasive; single-year) .
- Cash-only director compensation without equity eligibility may weaken alignment, though personal share ownership partly offsets .
- Network interlock: Prior Centra Health board service by Ms. Doyle and former Centra CFO service by director Addison—no transaction conflicts disclosed, but worth monitoring for potential influence channels .
Positive signals
- Independence affirmed and active Audit Committee service focused on risk oversight .
- Anti-hedging policy in place for directors and insiders .
- Transparent disclosure of family-related beneficial ownership components .