Douglas Meehan
CARRIAGE SERVICESAbout Douglas B. Meehan
Douglas B. Meehan, age 53, is an independent Class III director of Carriage Services (CSV) and has served on the Board since 2018. He serves on all three standing committees (Audit, Compensation, and Corporate Governance). Professionally, he is Co‑Chief Investment Officer at van Biema Value Partners (since 2012) and previously held research roles at Sentinel Real Estate Corp. and Duma Capital Partners. He holds a B.A. in Philosophy (Columbia University), a Ph.D. in Philosophy and Cognitive Science (CUNY Graduate Center), and an M.B.A. from Columbia Business School (Applied Value Investing Program) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| van Biema Value Partners, LLC | Co‑Chief Investment Officer | Since 2012 | Investment management; financial markets expertise |
| Sentinel Real Estate Corp. (proprietary securities fund) | Research Analyst | Not disclosed | Real estate/transaction experience |
| Duma Capital Partners (multi‑strategy HF) | Research Analyst | Not disclosed | Hedge fund research; sophisticated transactions |
External Roles
| Category | Current Status |
|---|---|
| Other public company boards | None (Board notes that, except for Dr. Robinson, directors do not serve on other public company boards) |
| Prior public company boards | Not disclosed in proxy |
| Non‑profit/academic/private boards | Not disclosed for Meehan |
Board Governance
| Item | Detail |
|---|---|
| Director class/tenure | Class III; Director since 2018 |
| Independence | Board determined Meehan is independent under NYSE and SEC rules |
| Committee assignments | Audit; Compensation; Corporate Governance (member) |
| Committee chair roles | None (Audit Chair: Dr. Robinson; Comp Chair: Somer Webb; Governance Chair: Julie Sanders) |
| Board meetings 2024 | 12 regular meetings; 7 unanimous written consents; all directors attended all Board meetings |
| Audit Committee 2024 | 5 regular meetings; all then‑members present |
| Compensation Committee 2024 | 6 regular meetings; 2 unanimous consents; all then‑members present |
| Corporate Governance Committee 2024 | 4 regular meetings; all then‑members present |
| Board declassification | CSV to move to annual election of all directors in 2026 |
Fixed Compensation
Director Compensation Policy (effective April 2, 2024):
| Component | Annual Amount |
|---|---|
| Independent Director annual retainer (paid quarterly; cash or unrestricted stock at director’s election) | $150,000 |
| Board Chair (additional) | $20,000 |
| Audit Committee Chair (additional) | $20,000 |
| Compensation Committee Chair (additional) | $15,000 |
| Corporate Governance Committee Chair (additional) | $10,000 |
Additional policy terms: quarterly payment in cash and/or unrestricted common stock at quarter‑end; immediate vesting of stock; new independent directors receive a one‑time $25,000 cash or unrestricted stock grant upon election (immediate vesting) . Share Ownership Guidelines require each independent director to hold shares equal to 1x the annual retainer within 3 years (from April 2, 2024 or Board start date, whichever is later) .
2024 Director Compensation (Meehan):
| Name | Fees Paid in Cash | Fees Paid in Stock | Stock Awards | Total |
|---|---|---|---|---|
| Douglas B. Meehan | $50,024 | $147,476 | $0 | $197,500 |
Notes: Includes a one‑time $50,000 fee tied to conclusion of the strategic alternatives review (approved Jan 22, 2024) that was paid to multiple directors including Meehan . No separate meeting fees are listed in the policy; directors can elect stock for retainers .
Performance Compensation
Directors do not have performance cash bonuses; director equity is paid as unrestricted (immediately vesting) common stock retainer grants (not PSUs/options) . Quarterly stock retainer grants received by Meehan in 2024:
| Grant Date (quarter‑end) | Shares Granted | Price/Share |
|---|---|---|
| Mar 29, 2024 | 1,294 | $27.04 |
| Jun 28, 2024 | 1,397 | $26.84 |
| Sep 30, 2024 | 1,142 | $32.83 |
| Dec 31, 2024 | 941 | $39.85 |
Other Directorships & Interlocks
| Topic | Disclosure |
|---|---|
| Interlocks | Compensation Committee included Meehan in 2024; none of the members were officers/employees; none had substantial business dealings requiring disclosure under the Related Party Transactions Review Policy |
| Executive/Board interlocks at other companies | None (no CSV NEO serves on a board/comp committee where a CSV director serves as an executive) |
Expertise & Qualifications
- Financial markets and real estate experience; sophisticated transaction background .
- Education: B.A. (Columbia), Ph.D. (CUNY Graduate Center), M.B.A. (Columbia Business School, Applied Value Investing) .
- Not designated an “audit committee financial expert” (Board identified Patteson, Robinson, Sanders, Webb as AC financial experts) .
Equity Ownership
| Holder | Common Stock | Stock Options | Total Beneficial Ownership | % of Common Stock |
|---|---|---|---|---|
| Douglas B. Meehan | 34,951 | — | 34,951 | * (<1%) |
Notes: Includes 19,375 shares held jointly with spouse . Company states Section 16(a) ownership change reports were timely for FY 2024 . Anti‑hedging policy prohibits hedging or derivative transactions by employees and directors; clawback policy in place .
Related Party Transactions (Conflicts)
- Policies require Audit Committee review/approval of related party transactions; annual questionnaires used to identify such transactions .
- CSV disclosed no reportable related party transactions since January 1, 2024 .
- Compensation Committee interlocks: none had substantial dealings requiring disclosure .
Say‑on‑Pay & Shareholder Feedback
- 2024 Say‑on‑Pay support approximately 82%; management attributes improvement to shareholder engagement and metric‑based incentives .
Governance Assessment
- Board effectiveness and engagement: Meehan attends all Board and committee meetings (100% in 2024), and serves on all three key committees—supporting strong oversight coverage .
- Independence and conflicts: Independent under NYSE/SEC rules; no related party transactions disclosed; no interlocks or cross‑board conflicts—positive for investor alignment .
- Ownership alignment: Receives a substantial portion of director pay in stock ($147,476 stock vs. $50,024 cash in 2024) and holds 34,951 shares; CSV instituted director ownership guidelines (1x retainer within 3 years) .
- Pay structure: Director compensation is primarily fixed retainer with election to take stock (immediate vesting); no performance‑based director awards. Note one‑time $50,000 special fee in 2024 tied to strategic alternatives review (non‑recurring) .
- Risk controls: Anti‑hedging and clawback policies in force; Audit Committee identifies multiple “financial experts,” enhancing financial oversight .
- Board structure evolution: Plan to de‑classify board (annual elections beginning 2026) is positive for accountability .
RED FLAGS: None disclosed specific to Meehan (no related‑party ties, no attendance issues, no pledging disclosed) .