William Reid
EMCOR GroupAbout William P. Reid
William P. Reid (Age 75) is an independent director of EMCOR Group, elected to the Board on October 25, 2017. Prior to retirement, he served as CEO of EMCOR Industrial Services and Ohmstede Ltd., and earlier spent over 20 years in the oil and gas industry beginning at Cameron Iron Works and becoming President of NL Drilling Services. He brings segment-relevant operational leadership and M&A/finance experience; he serves on EMCOR’s Audit Committee and is designated an SEC “audit committee financial expert.” Independence is affirmed under NYSE standards; EMCOR reports executive-session practices led by its independent Lead Director.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| EMCOR Industrial Services, Inc. | Chief Executive Officer | Pre-retirement (post-2007) | Led EMCOR’s industrial platform after Ohmstede acquisition; operational and strategic oversight |
| Ohmstede Ltd. | President & CEO | Joined 1999; acquired by EMCOR in 2007 | Built platform later integrated into EMCOR Industrial Services |
| NL Drilling Services | President | Prior to 1999 (part of 20+ years in O&G) | Directional drilling/MWD tools; global oil & gas exposure |
| Cameron Iron Works | Early career | Prior to 1999 | Foundation in oilfield equipment/operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | Proxy biographies reviewed do not list external public company directorships for Reid |
Board Governance
- Committee assignments: Audit Committee member; Audit met five times in 2024; all members designated SEC “audit committee financial experts” (Chair: Carol P. Lowe; members: M. Kevin McEvoy, William P. Reid).
- Independence: EMCOR states eight of nine directors are independent, including Reid; independent directors hold executive sessions with the Lead Director presiding.
- Attendance: In 2024 and 2023, each director attended at least 75% of Board and assigned committee meetings; directors standing for re‑election attended the annual stockholder meetings.
- Oversight evidence: Reid is a signatory on the Audit Committee Report recommending inclusion of audited financials in the Form 10‑K (EY independence and PCAOB AS 1301 discussions completed).
Fixed Compensation
| Component | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $113,500 | $117,000 |
| Committee Membership Fees ($) | $3,500 (Audit; from June 8, 2023) | $7,000 (Audit) |
| Annual Cash Retainer (Program) ($) | $110,000 (payable quarterly) | $110,000 (payable quarterly) |
| Total Director Compensation ($) | $283,500 | $297,000 |
| Program Cap ($) | $425,000 annual cap for non-employee directors | $425,000 annual cap for non-employee directors |
Notes:
- Mercer advises biannually on director pay; in 2024 recommended increases to committee chair/lead director fees and equity portion to align upper quartile vs comparators; EMCOR assessed consultant conflicts and found none.
Performance Compensation
| Component | FY 2023 | FY 2024 |
|---|---|---|
| Stock Awards ($) | $170,000 (RSUs) | $180,000 (RSUs) |
| RSUs Granted (#) | 963 RSUs granted on re‑election (each non‑employee director) | Number determined by dividing $180,000 by closing price on grant date (program approach) |
| Vesting/Settlement | Director selects share issuance on the 1st–5th anniversary of grant date (time‑based RSUs) | Same program terms; equity portion increased to $180,000 |
- EMCOR’s proxy discusses performance metrics for named executive officers, not for directors; director equity awards are time‑based RSUs under the Director Award Program (no director performance metrics disclosed).
Other Directorships & Interlocks
| Company | Role | Committees | Status |
|---|---|---|---|
| Not disclosed in proxy biographies for Reid | — | — | No external public board roles cited in the referenced sections |
Expertise & Qualifications
- Skills matrix marks Reid with independence, finance/accounting, executive leadership, industry experience, and public company experience; cybersecurity not indicated.
- Biography emphasizes oil, gas, and petrochemical segment expertise; leadership of publicly traded company; guidance in finance, M&A, strategy.
Equity Ownership
| Metric | FY 2023 (Dec 31, 2023) | April 8, 2025 |
|---|---|---|
| RSUs Held (#) | 6,656 | 7,146 (shares to be issued in respect of RSUs on certain dates) |
| Beneficial Ownership (# Shares) | — | 11,773 |
| Ownership as % of Shares Outstanding | — | <1% |
- Footnote detail: 2025 table includes RSUs to be issued on specified dates per the Director Award Program; directors generally hold sole voting/investment power except as noted.
Governance Assessment
- Board effectiveness: Reid strengthens Audit Committee oversight as an SEC-designated financial expert; Audit Committee reports reflect appropriate engagement with EY on independence and PCAOB-required communications.
- Independence and engagement: Independence affirmed; attendance thresholds met; participation in executive sessions through overall board practice supports robust oversight culture.
- Pay alignment: Cash/equity mix consistent with market; equity grants via time‑based RSUs align director incentives with shareholder value; program cap at $425k constrains total director pay. 2024 equity portion increased to maintain competitiveness, approved after consultant review for conflicts.
- Potential conflicts/related-party exposure: No related-party or pledging disclosures regarding Reid were noted in the referenced sections; ongoing monitoring via future proxies and Form 4s remains prudent.
- Signals for investor confidence: Tenured industry operator with segment-relevant expertise and financial oversight credentials; consistent committee service and attendance; transparent director compensation framework with independent benchmarking.