Alan P. Krusi
GRANITE CONSTRUCTIONAbout Alan P. Krusi
Independent director at Granite Construction (GVA) since 2018, age 70. Former President, Strategic Development at AECOM (2008–2015), and CEO/President of Earth Tech (2003–2008). He holds a B.A. in Geological Sciences from UC Santa Barbara and completed NACD’s Cyber-Risk Oversight Program in 2022—credentials aligned with GVA’s project risk, M&A, and cyber oversight needs .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AECOM Technology Corp. | President, Strategic Development (led M&A) | 2008–2015 | Strategic development and acquisition leadership |
| Earth Tech, Inc. | CEO & President | 2003–2008 | Ran global engineering & construction firm (water/transport/environment) |
| Obrien Kreitzberg | President | 1994–2003 | Construction management services to transportation markets |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| SSR Mining Inc. | Director | Current | Current public company directorship |
| Boxwood Merger Corp. | Director | 2018–2020 | Prior SPAC directorship |
Board Governance
- Independence: Board deems Krusi independent under NYSE standards .
- Committee assignments (2024): Audit/Compliance Committee member and Risk Committee Chair .
- Attendance: In 2024, each director attended ≥75% of combined Board and committee meetings; all nine directors attended the 2024 annual meeting .
- Board leadership: Independent Board Chair (McNally); thus no Lead Director role currently .
- Overboarding policy: Max 4 public boards (2 if an executive officer of a public company) .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Audit/Compliance | Member | 8 |
| Risk | Chair | 6 |
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| 2024 Cash retainer (Board + committees) | $115,000 | Paid quarterly; no per-meeting fees |
| 2024 Equity grant (RSUs) | $135,000 | Annual RSUs; vest May 20, 2025 |
| All other compensation | $1,327 | Dividend equivalent value, etc. |
| Total 2024 Director compensation | $251,327 |
Program schedule (2024):
- Board annual cash retainer: Member $90,000; Board Chair $175,000 .
- Committee retainers: Audit member $10,000/chair $20,000; Compensation member $8,500/chair $17,000; Nominating member $7,500/chair $15,000; Risk member $7,500/chair $15,000 .
- Equity: Member RSUs $135,000; Chair RSUs $200,000 (annual) .
- 2025 change: Board raised each director’s equity award by $10,000 beginning in 2025 (peer alignment) .
Other Directorships & Interlocks
| Director Interlock | Nature | Governance Relevance |
|---|---|---|
| SSR Mining Inc. | Both Krusi and fellow GVA director Laura M. Mullen serve as SSR Mining directors | Information flow/network tie; monitor for potential overlapping relationships with GVA vendors/customers (none disclosed) |
Expertise & Qualifications
- Skill matrix flags Krusi as highly experienced in financial literacy, M&A/capital structuring, strategy, exec compensation, enterprise/project risk, legal/claims, public sector contracting, industry and operating experience, ESG, and cybersecurity .
- NACD Cyber-Risk Oversight Program (2022), enhancing cyber-risk oversight capacity at the committee/Board level .
- Geological sciences degree and multi-decade engineering/construction leadership background directly relevant to GVA’s end markets .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership | 17,250 shares; <1% of outstanding |
| Unvested director RSUs | As of 12/31/24, 2,263 unvested RSUs from 2024 grant (vest 5/20/25) |
| Director stock ownership guideline | 5x annual Board cash retainer; all non-employee directors are in compliance or meeting retention |
| Hedging/Pledging | Company prohibits director hedging and pledging of GVA stock |
| NQDC deferral (2024) | Krusi did not elect to defer cash/RSU into NQDC in 2024 |
Governance Assessment
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Strengths:
- Independent director with deep sector and project risk expertise; chairs Risk Committee overseeing strategic/operational/HSE risks and high-risk bid strategy—material to GVA’s contract selection and margin protection .
- Strong attendance culture (≥75%) and independent Board Chair structure bolster oversight quality .
- Director compensation mix balanced between cash retainers and time-based RSUs, with mandatory ownership/retention and hedging/pledging prohibitions aligning interests with shareholders .
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Potential risks/monitoring items:
- External interlock: Shared SSR Mining board seat with GVA director Laura M. Mullen—creates a network tie; while no related-party transactions are disclosed for Krusi, investors should continue to monitor for any business linkages or conflicts .
- Tenure/retirement policy dynamics: As a pre-2021 director, mandatory retirement/re-nomination limits apply at age 72; Board has explicit retirement and term-limit policies for refreshment (not a current issue at age 70 but relevant for future continuity) .
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Related-party oversight:
- Company maintains a formal related-person transaction review policy led by the Audit/Compliance Committee, including pre-approval thresholds and recusals; the proxy does not describe any specific related-party transactions involving Krusi .
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Shareholder engagement context:
- Say-on-pay approval for 2023 executive compensation received ~83% support, indicating no broad investor revolt on compensation practices; while not director-specific, it informs overall governance sentiment .