Herman Bulls
COMFORT SYSTEMS USAAbout Herman E. Bulls
Independent director at Comfort Systems USA (FIX) since February 2001; age 69. Vice Chairman, Americas and International Director at JLL; founder and former CEO/Chairman of JLL’s Public Institutions division (2002–2014). Education includes the United States Military Academy at West Point and Harvard Business School. The Board has determined Mr. Bulls is independent under NYSE standards and the Company’s Independence Guidelines .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| JLL (and predecessor LaSalle Partners) | Vice Chairman, Americas; International Director; Managing Director | Managing Director 1998–2000; multiple roles at LaSalle Partners 1989–1998; current Vice Chairman/International Director | Founded Public Institutions division; CEO/Chairman 2002–2014 |
| Fannie Mae multifamily lender | EVP & COO | Sep 2000–Aug 2001 | Operations leadership |
| Bulls Capital Partners | Co-Founder, President & CEO | Sold in 2010 | Commercial mortgage firm; sold to Wall Street entity |
| U.S. Army/Army Reserve | Active Duty Officer; retired as Colonel (Reserve) | 11+ years active duty; Reserve career | Leadership and public service |
External Roles
| Organization | Role | Public/Private | Committees/Notes |
|---|---|---|---|
| Fluence Energy (FLNC) | Chairman of the Board | Public | Board chair |
| Host Hotels & Resorts (HST) | Director | Public | Board member |
| USAA | Director | Private/mutual | Board member |
| Collegis Education | Director | Private | Board member |
| West Point Association of Graduates | Director | Non-profit | Board member |
| NY State Teachers’ Retirement System | Real Estate Advisory Committee | Public pension | Committee member |
| American Red Cross | Board of Governors | Non-profit | Board member |
| Military Bowl Foundation | Board (emeritus) | Non-profit | Emeritus |
| Defense Policy Board | Member | Advisory | Member |
| American Campus Communities (prior) | Director (until acquisition by Blackstone, Aug 2022) | Public (prior) | Prior 5-year window public board |
Board Governance
- Committee assignments at FIX
- Nominating, Governance, and Sustainability (member)
- Not listed as a member of Audit or Compensation & Human Capital Committees .
- Independence: Board determined Mr. Bulls is independent (NYSE and Company guidelines) .
- Attendance and engagement:
- 2024 Board meetings: 5 regular, 4 special; non-employee directors held executive sessions at each regular meeting .
- Each director attended at least 75% of applicable meetings (Mr. Kapoor was the only exception due to mid-year appointment) .
- All directors attended the 2024 Annual Meeting .
- Committee leadership context:
- Nom/Gov/Sus Committee chaired by Vance Tang until May 17, 2024; Cindy L. Wallis‑Lage succeeded him for the remainder of 2024 .
- Board structure: 9 of 10 continuing directors are independent; annual elections; no overboarding policy; mandatory retirement at 75 .
Fixed Compensation (Non-Employee Director Pay for 2024)
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $80,000 | Paid quarterly |
| Committee chair fees | $0 | Only Audit ($30k), Comp/Human Capital ($20k), or Nom/Gov/Sus ($20k) chairs receive additional; Mr. Bulls not a chair |
| Meeting fees | $0 | Not disclosed/applicable |
| Total cash | $80,000 | Director-specific table amount |
Director compensation table entry (2024):
- Herman E. Bulls: Fees Earned or Paid in Cash $80,000; Stock Awards $159,716; Total $239,716 .
Performance Compensation (Equity Grants to Directors)
| Equity Type | Grant Value | Shares/Terms | Performance Metrics |
|---|---|---|---|
| Fully-vested Common Stock | $159,716 | 498 fully-vested shares (standard grant for non-employee directors) | None; director equity not performance-based |
- Annual non-employee director equity grants are fully vested at grant and targeted at ~$160,000 fair value; maximum per director per year under plan is $400,000 .
Other Directorships & Interlocks
| Company/Entity | Role | Potential Interlock Relevance |
|---|---|---|
| Fluence Energy (FLNC) | Chairman | Energy/industrial exposure; no FIX-related transactions disclosed |
| Host Hotels & Resorts (HST) | Director | Hospitality real estate; no FIX-related transactions disclosed |
| USAA | Director | Financial services (mutual) |
| Collegis Education | Director | Education services |
| Prior: American Campus Communities | Director (until 2022 sale) | No ongoing interlock; firm acquired by Blackstone |
- Related-party transactions: 2024 related-party approvals disclosed only for AECOM (Mr. Kapoor’s employer); no transactions disclosed involving Mr. Bulls or JLL . Related Person Transactions Policy governs review/approval of such matters .
Expertise & Qualifications
- Decades of real estate and finance experience; expertise in team-building, marketing, and strategic development .
- Senior leadership at JLL (founder/leader of Public Institutions division; CEO/Chairman 2002–2014) .
- Education: United States Military Academy at West Point; Harvard Business School .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 37,732 | As of March 1, 2025 |
| % of shares outstanding | <1% | Asterisk in table indicates less than 1% |
| Options/derivatives | Not disclosed for Mr. Bulls | Director table lists shares; options listed for certain executives only |
| Ownership guidelines | 10× annual cash board fees within 5 years | Applies to non-employee directors; all are compliant or within phase-in |
| Hedging/pledging | Prohibited by Insider Trading Window Policy | Applies to directors and officers |
Governance Assessment
- Strengths/signals supporting investor confidence:
- Long-tenured, independent director (since 2001) with significant real estate and finance leadership, including current chairmanship of a public company (Fluence Energy) .
- Active role on Nominating, Governance, & Sustainability Committee, which oversees CEO succession, sustainability, and board composition .
- Attendance metric met (≥75% in 2024); board holds regular executive sessions of independent directors; high say‑on‑pay support (>95% in 2024) .
- Director equity grants (fully vested shares) and stringent stock ownership guidelines (10× cash retainer) align interests; anti‑hedging/pledging policy reduces misalignment risk .
- No related‑party transactions disclosed involving Mr. Bulls; Board re‑affirmed his independence .
- Watch items:
- External commitments are substantial (e.g., chair at FLNC, director at HST and USAA). Company states a “no overboarding” policy, but specific numerical limits are not disclosed in the proxy; continued monitoring of time commitments is prudent .
Notes on data coverage: Insider Form 4 retrieval via the insider-trades skill was attempted for Herman E. Bulls but returned an authorization error; equity ownership figures herein rely on the 2025 DEF 14A security ownership table .