Gregory M. Jones
Director at ES
Board
About Gregory M. Jones
Independent Trustee of Eversource Energy; age 67; serving since 2020. Current role: Vice President, Community Health and Engagement at Hartford Healthcare (since 2017). Education: B.S. in Accounting (Morgan State University), M.P.M. (Carnegie Mellon University), and M.B.A. (Wharton School, University of Pennsylvania). Committees: Audit (Member) and Governance, Environmental and Social Responsibility (Member).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tyco Fire & Security | Director, North American M&A | 2011–2012 | Corporate development/M&A execution |
| Corporate Development Group | Founder and Principal | 2008–2012 | Business development strategy |
| Hartford Hospital | Board of Directors (member) | 2012–2017 | Non-profit governance oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hartford Healthcare | Vice President, Community Health and Engagement | 2017–Present | Leads community bridge between providers and community |
| The Legacy Foundation of Hartford, Inc. | Founder; Chairman | Established April 2012–Present | Community philanthropy leadership |
| Greater Hartford Community Foundation, Inc. | Board member | Not disclosed | Charitable governance |
| Southside Institutions Neighborhood Alliance | Board member | Not disclosed | Community development |
Board Governance
- Committee assignments: Audit Committee (member) and Governance, Environmental and Social Responsibility Committee (member). Audit met 6 times in 2024; Governance met 4 times. Each committee’s members are independent, with Audit members meeting SEC/NYSE financial literacy standards.
- Independence status: Board determined all Trustees except the CEO are independent (January 29, 2025).
- Attendance and engagement: In 2024, the Board held 8 meetings (4 with independent executive sessions) and Committees held 28 meetings; each Trustee attended at least 75% of aggregate Board and Committee meetings; all Trustees attended the May 1, 2024 Annual Meeting.
- Board practice: The company maintains a Lead Independent Trustee and holds at least three independent Trustee meetings annually.
Fixed Compensation
| Compensation Element | Amount | Detail/Notes |
|---|---|---|
| Annual Cash Retainer (2024) | $120,000 | Mr. Jones deferred 75% of cash compensation in 2024. |
| Annual Stock Retainer (RSUs) | $165,000 basis | Company-level RSU grant sizing for Trustees; RSUs generally vest the next business day; distribution can be deferred until post-retirement. |
| 2024 Actual RSU Grant (granted Jan 15, 2025) | 3,092 RSUs ($154,372.32) | Calculated at $55.98 closing price on grant date; vested Jan 16, 2025. |
| 2024 Total Compensation (Mr. Jones) | $274,372.32 | $120,000 cash + $154,372.32 stock awards. |
| 2025 Structural Changes | Cash retainer increased to $125,000; RSU basis increased to $175,000 | Committee chair retainers adjusted (+$5,000 for Finance and Governance Chairs). |
| Meeting Fees | None | No Board/Committee attendance fees. |
| Committee Chair/Lead Retainers | Chair: $25,000 (Audit), $20,000 (Comp), $15,000 (Governance), $15,000 (Finance); Lead Independent Trustee: $35,000 | Structural amounts; Mr. Jones is not listed as a chair. |
Performance Compensation
| Element | Presence | Metrics/Vesting |
|---|---|---|
| Annual bonus | None disclosed for Trustees | Not part of Trustee pay structure. |
| Performance Share Units (PSUs) | None disclosed for Trustees | Trustee equity is in RSUs (time-based). |
| Options/SARs | Not used in Trustee program | Repricing/discounts prohibited under plan governance. |
| RSU vesting | Time-based | RSUs generally vest next business day after grant; Trustees may defer distribution; must hold until meeting ownership guidelines. |
| Hedging/Pledging | Prohibited | Company policy prohibits hedging and pledging by Trustees and executives. |
Other Directorships & Interlocks
| Category | Status | Notes |
|---|---|---|
| Current public company boards | None disclosed | Background lists healthcare/non-profit governance; no public boards for Mr. Jones. |
| Compensation Committee interlocks | None | No Eversource executive serves on boards/comp committees of companies where ES comp committee members/Trustees are executives. |
Expertise & Qualifications
- Business and management experience; financial markets and M&A expertise (Corporate Development Group; Tyco Fire & Security).
- Deep community health engagement leadership at Hartford Healthcare, bridging providers and communities.
- Academic credentials in accounting, public management, and business (Morgan State, Carnegie Mellon, Wharton).
- Qualifications meet Board selection criteria emphasizing ethics, policy-level experience, regulatory literacy, and ESG oversight.
Equity Ownership
| Ownership Detail | Amount | Notes |
|---|---|---|
| Total beneficial ownership (incl. RSUs/deferred shares) | 13,833 shares | Includes restricted share units and deferred shares; no voting/investment power over these units. |
| RSUs credited (as of Dec 31, 2024) | 10,741 | Aggregate RSUs held as stock compensation, including dividend equivalents. |
| Shares outstanding (record date reference) | 367,081,902 | Common shares outstanding as of March 4, 2025 record date. |
| Ownership as % of shares outstanding | ~0.0038% | Computed: 13,833 ÷ 367,081,902; based on disclosures. |
| Stock ownership guidelines | 5× annual cash retainer; mandatory holding of awarded shares until guideline met | Trustees must attain and hold at least five times cash retainer market value before distribution. |
| Hedging/Pledging | Prohibited | Insider Trading Policy and governance practices. |
| Section 16 compliance (2024) | No late filings disclosed for Mr. Jones | Late filings disclosed for other individuals; none noted for Mr. Jones. |
Governance Assessment
- Board effectiveness: Independent Trustee with active service on Audit and Governance/ESG committees; committees met 6 and 4 times respectively in 2024; all Trustees met 75%+ attendance and attended the 2024 annual meeting, supporting engagement and oversight.
- Alignment and incentives: Standard utility director pay mix with modest cash and annual RSUs; Mr. Jones deferred 75% of his cash fees (long-term orientation) and is subject to 5× retainer ownership guidelines and no hedging/pledging policy.
- Conflicts and related-party exposure: Board determined Trustees (except CEO) are independent; no related person transactions or material interests for Trustees; utility services to Trustees are provided at regulated terms and deemed immaterial to independence.
- Signals for investor confidence: Active ESG oversight via Governance Committee; strong corporate governance practices (proxy access, majority vote, independent sessions).
RED FLAGS: None disclosed regarding related-party transactions, hedging/pledging, or Section 16 compliance for Mr. Jones. Beneficial ownership is small as a percentage of shares outstanding, typical for external directors, but warrants monitoring versus the 5× retainer ownership guideline (individual compliance status not disclosed).