Thomas McEachin
About Thomas A. McEachin
Independent trustee of Federal Realty Investment Trust since 2022; age 72. Former Vice President and Group Chief Financial Officer of Covidien Surgical Solutions with 40+ years in finance and operations across United Technologies, Digital Equipment, and Xerox. Education includes a B.S. from NYU School of Engineering, MBA from Stanford, and the Advanced Management Program at Wharton. Current public company directorship: Pediatrix Medical Group, Inc.; prior public company directorship: Surgalign Holdings, Inc. (until 2023) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Covidien Surgical Solutions (division of Covidien plc) | Vice President & Group CFO | 2008–2012 | Finance leadership, financial reporting, compliance, controls |
| United Technologies Corporation and subsidiaries | Chief Investor Relations Officer; VP & Controller at Pratt & Whitney; VP & CFO at UTC Power | 1997–2008 | Capital markets, financial controls, business unit finance |
| Digital Equipment Corporation | Executive roles (computers, software, peripherals) | 1986–1997 | Operations and finance leadership |
| Xerox Corporation | Controller, procurement organization | 1975–1986 | Procurement finance oversight |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pediatrix Medical Group, Inc. | Director | Current | Not disclosed in proxy |
| Surgalign Holdings, Inc. | Director | Until 2023 | Not disclosed in proxy |
| Wadsworth Atheneum (Hartford, CT) | Trustee and officer | Former | Executive, Finance, Investment committees |
| Connecticut Science Center | Board member | Past | Chair of Audit Committee |
Board Governance
- Independence: Board determined all trustees except CEO are independent; McEachin is independent .
- Committee memberships: Compensation and Human Capital Management Committee; Nominating and Corporate Governance Committee; not a chair .
- Attendance: In 2024 the Board met 6 times; each trustee attended all Board and committee meetings; 100% attendance at annual shareholder meeting .
- Tenure: Trustee since 2022 .
- Board leadership: Independent Non-Executive Chairman (Faeder); quarterly executive sessions of all trustees and of non-management trustees .
- Age policy exception: Upon turning 72, McEachin submitted resignation per guidelines; Board unanimously rejected the resignation (he recused from vote) .
Fixed Compensation
| Element | Amount | Form | Notes |
|---|---|---|---|
| Annual Trustee Retainer (2024 policy) | $200,000 | 40% cash; 60% equity | Shares issued are fully vested on grant date |
| Non-Executive Chairman Retainer (2024 policy) | $225,000 | 60% cash; 40% equity | 2025 increase noted below |
| Committee Chair Fees (Audit) | $25,000 | Cash | Chair only |
| Committee Chair Fees (Compensation) | $15,000 | Cash | Chair only |
| Committee Chair Fees (Nominating) | $15,000 | Cash | Chair only |
| 2025 Trustee Retainer change | $225,000 | 40% cash; 60% equity | Effective Jan 1, 2025 for non-chair trustees; Chairman to $275,000 |
| Thomas A. McEachin – 2024 Actual Director Compensation | Cash | Shares | Chair Fees | Total |
|---|---|---|---|---|
| Amounts awarded for 2024 service | $80,000 | $120,000 | $0 | $200,000 |
| Share issuance detail | Shares issued Jan 2, 2025; number determined by dividing share amount by $111.95 (Dec 31, 2024 NYSE close) |
Performance Compensation
| Component | Metric(s) | Disclosure |
|---|---|---|
| Directors’ equity grants | None (time-based; fully vested at grant) | Shares issued to non-management trustees are fully vested; no performance metrics disclosed for directors |
Other Directorships & Interlocks
| Company | Role | Committee Roles (if any) | Interlocks/Conflicts |
|---|---|---|---|
| Pediatrix Medical Group, Inc. | Director | Not disclosed | None disclosed by FRT; related-party transactions policy requires Audit Committee approval; no trustee related-party transactions required to be disclosed |
| Surgalign Holdings, Inc. | Director (prior) | Not disclosed | None disclosed by FRT |
| Compensation Committee interlocks | — | — | No Compensation Committee interlocks; no member has served as an employee/officer of FRT |
Expertise & Qualifications
- Financial expertise/literacy; public company board service; corporate governance; strategic leadership .
- CFO experience with responsibility for financial reporting, compliance, accounting/controls; investor relations .
- Education: B.S. NYU School of Engineering; MBA Stanford; Advanced Management Program, Wharton .
Equity Ownership
| Holder | Common Shares | Unvested Restricted Shares | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Thomas A. McEachin (as of Mar 18, 2025) | 2,535 | 0 | 2,535 | <1% |
- Trustee stock ownership guideline: Maintain ownership equal to at least 5x annual cash retainer; compliance required within 5 years of joining Board .
- Compliance status: As of Dec 31, 2024, all trustees compliant except McEachin (joined 2022); expected to comply within 5-year timeframe .
- Hedging/pledging: Prohibited for trustees and officers .
Governance Assessment
-
Strengths
- Independent director with deep CFO and finance background; sits on Compensation and Nominating Committees—relevant to pay, governance, and succession oversight .
- Attendance and engagement are strong (100% Board and committee attendance in 2024; full annual meeting participation) .
- Board-wide governance practices include majority voting, proxy access, robust ownership guidelines, and anti-hedging/pledging policy .
- Shareholder support for executive pay remains high (92% “Say on Pay” approval in 2024), indicating overall program credibility under committees he serves .
-
Watch items / potential confidence signals
- Ownership alignment: McEachin is still within the 5-year window to meet trustee ownership guidelines; monitor progress to guideline compliance .
- Board age policy exception: Board rejected his resignation at age 72, signaling perceived continued value but also policy flexibility; investors may view case-by-case exceptions positively if grounded in board skill needs .
- External board load: Board guidelines limit non-CEO trustees to ≤4 public boards (incl. FRT); McEachin’s current public board count (Pediatrix + FRT) is within limits .
-
Conflicts/related-party exposure
- No related-party transactions involving trustees required to be disclosed; Audit Committee pre-approves any related-party transactions; none noted for McEachin .
- Compensation Committee interlocks: None; all members independent and non-employee .
-
Committee effectiveness indicators
- Compensation Committee responsibilities include CEO evaluation, senior officer compensation, equity plan administration, and HR oversight; no external consultant was used in 2024 (and 2023), suggesting internal capability; results reflected in consistent, high Say-on-Pay support .
Overall: McEachin’s finance-heavy background and dual committee roles enhance board oversight of compensation and governance. No disclosed conflicts, strong attendance, and adherence to governance policies support investor confidence. Monitor ownership guideline compliance and the board’s application of age policy exceptions to ensure consistent governance rigor .