Patty Watson
GLOBAL PAYMENTSAbout Patty Watson
Patricia “Patty” Watson was appointed as an independent director of Global Payments Inc. on September 24, 2025, as the Board expanded from 10 to 12 members in collaboration with Elliott Investment Management . She most recently served as Chief Information and Technology Officer at NCR Atleos, previously EVP/CIO of NCR Corporation, Global CIO at TSYS, with senior technology roles at Bank of America and CIO of The Brink’s Company; she began her career as a U.S. Air Force Captain . Education: B.A. in Mathematics from St. Mary’s College (Notre Dame, IN) and MBA from the University of Dayton . Independence: explicitly appointed as an independent director; she will be compensated on the same basis as other non‑employee directors .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NCR Atleos | Chief Information and Technology Officer | Not disclosed | Led enterprise technology strategy for the world’s largest independent ATM network |
| NCR Corporation | EVP & Chief Information Officer | Not disclosed | Guided technology operations through separation into two public companies |
| Total System Services (TSYS) | Global Chief Information Officer | Not disclosed | Directed enterprise-wide technology transformation in issuing and acquiring; TSYS merged with GPN in 2019 |
| Bank of America | Senior technology leadership roles | Not disclosed | Enterprise IT strategy/operations (specific committees not disclosed) |
| The Brink’s Company | Chief Information Officer | Not disclosed | Enterprise technology leadership |
| U.S. Air Force | Captain | Not disclosed | Early leadership foundation |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Southwest Airlines | Director | Current | Committee memberships not disclosed |
| Rockwell Automation | Director | Current | Committee memberships not disclosed |
| USAA Federal Savings Bank | Director | Prior | Not disclosed |
| Texas Capital Bancshares | Director | Prior | Not disclosed |
Board Governance
- Board expanded to 12 members and formed a new ad‑hoc Integration Committee to oversee execution and synergy realization for the pending Worldpay acquisition; membership will include both new and existing directors (specific members not disclosed) .
- All standing committees (Audit, Compensation, Governance & Nominating, Technology) are fully independent; nine of ten 2025 director nominees were independent; independent directors meet without management .
- Attendance policy: each director is expected to attend at least 75% of board and committee meetings; in 2024, each director met this threshold; the full board met five times in 2024 (Watson joined in 2025) .
- Overboarding limits: directors may serve on up to 4 public boards; Audit Committee members on up to 3 audit committees; the Governance & Nominating Committee annually evaluates time commitments; all directors are within guidelines .
- Political activity oversight and shareholder engagement are led by Governance & Nominating; 2024 shareholder engagement resulted in adoption of a Political Activity Policy and expanded disclosures .
- Strong governance practices include independent Chair, proxy access, majority voting, no supermajority requirements, anti‑hedging/pledging, robust clawback policy for executives, and significant stock ownership requirements for directors and NEOs .
Fixed Compensation
| Element | Amount | Notes |
|---|---|---|
| Annual Basic Cash Retainer | $125,000 | Payable in advance after annual meeting; prorated for new directors |
| Annual Stock Retainer (FMV) | $230,000 | Fully‑vested shares granted at market price on grant date |
| Independent Chair Supplemental Cash Retainer | $100,000 | In addition to basic retainer |
| Chair of Audit Committee Supplemental Cash Retainer | $40,000 | In addition to basic retainer |
| Chair of Other Committees Supplemental Cash Retainer | $30,000 | In addition to basic retainer |
| Lead Independent Director Supplemental Cash Retainer | $50,000 | In addition to basic retainer |
| Expense Reimbursement | Actuals | Out‑of‑pocket expenses for board/committee attendance reimbursed |
- New appointees are compensated on the same basis as other non‑employee directors .
Performance Compensation
- Global Payments does not use performance‑based pay for directors; annual stock retainers are fully vested at grant and there are no director meeting fees or performance metrics tied to director compensation .
- Anti‑hedging/pledging applies company‑wide; no dividend equivalents on PSUs (executive program); no option repricing; clawback policy applies to executive incentive compensation .
Other Directorships & Interlocks
| Company | Relationship to GPN | Potential Interlock/Conflict |
|---|---|---|
| Southwest Airlines | Customer/user of payments (general market context) | No related‑party transactions disclosed with Watson |
| Rockwell Automation | Enterprise/industrial technology firm | No related‑party transactions disclosed with Watson |
| USAA Federal Savings Bank (prior) | Financial services | No current related‑party transactions disclosed |
| Texas Capital Bancshares (prior) | Financial services | No current related‑party transactions disclosed |
| TSYS (former employer) | Merged into GPN in 2019 | Industry expertise; no related‑party transactions disclosed with Watson |
Expertise & Qualifications
- Deep payments/fintech and enterprise IT expertise, including CIO roles at NCR and TSYS and transformation leadership at large financial institutions and security companies .
- Strategy and modernization credentials overseeing separations (NCR split), large‑scale technology transformation, and global operations; early leadership training in the U.S. Air Force .
- Education: B.A. Mathematics (St. Mary’s College) and MBA (University of Dayton) .
Equity Ownership
| Item | Detail |
|---|---|
| Initial beneficial ownership (Form 3) | No securities beneficially owned as of 09/24/2025 |
| Director stock ownership guideline | Within five years, beneficially own shares equal to 500% of annual cash retainer |
| Guideline value threshold (based on current retainer) | $625,000 (500% × $125,000) target value; calculated using disclosed retainer and guideline |
| Hedging/pledging | Prohibited under company policy |
| Deferred compensation | Directors may defer cash retainers; company does not guarantee returns; one director participated in 2024 (Marshall) |
Insider Trades
| Date | Form | Summary |
|---|---|---|
| 09/30/2025 (Event 09/24/2025) | Form 3 | Initial Statement of Beneficial Ownership filed by Patricia A. Watson; reports no securities beneficially owned |
Governance Assessment
- Independence and board refreshment: Watson’s appointment (with Deskus) enhances independent technology expertise and aligns with governance enhancements shaped by shareholder engagement, including Elliott’s collaboration; independence explicitly stated .
- Integration oversight: formation of an Integration Committee focused on Worldpay combination execution and synergies is a positive governance signal; membership unspecified—monitor for Watson’s involvement; execution effectiveness will be key for investor confidence .
- Alignment and pay structure: director compensation is simple (cash + fully‑vested stock) without performance conditions; alignment relies on stock ownership guidelines (500% of retainer) and anti‑hedging/pledging policy—track Watson’s progress from Form 3 zero holdings toward guideline over five years .
- Time commitment risk: current outside boards (Southwest Airlines, Rockwell Automation) plus GPN total three board seats, within company overboarding limits; Governance & Nominating annually evaluates director time commitments .
- Conflicts/related party: company disclosed no related person transactions with Watson at appointment—low immediate conflict risk; maintain vigilance as Integration Committee and Worldpay integration progresses .
- Shareholder sentiment: executive say‑on‑pay received 88% approval in 2024; governance practices include proxy access, majority voting, independent Chair, and strong committee independence—positive for board effectiveness backdrop .
RED FLAGS to monitor: ownership guideline progress (current holdings zero per Form 3) ; clarity of Integration Committee membership/charter execution ; any future related‑party transactions or overboarding developments; ensure continued compliance with anti‑hedging/pledging .