Linda Adamany
Jefferies Financial GroupAbout Linda L. Adamany
Independent Lead Director at Jefferies Financial Group Inc. since 2014; age 72 as of February 10, 2025. A CPA with a B.S. in Business Administration (Accounting, magna cum laude) from John Carroll University, Adamany brings extensive financial, operational, risk oversight, and governance expertise from senior roles at BP plc and multiple public company boards. She chairs the Nominating & Corporate Governance Committee and serves on the Audit and ESG/DEI Committees; she also serves on the board of Jefferies International Limited (UK), including as Chair of its Remuneration Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BP plc | Member, Refining & Marketing Executive Committee | Apr 2005–Aug 2007 | Oversaw day-to-day operations and HR for segment |
| BP plc | Executive Assistant to Group CEO | Oct 2002–Mar 2005 | Senior advisory role to CEO |
| BP Shipping | Chief Executive | Oct 1999–Sep 2002 | Led BP’s shipping operations |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Coeur Mining Inc. | Director | Since Mar 2013 | Audit Committee Chair; Environmental, Health, Safety & Social Responsibility member |
| BlackRock Institutional Trust Company, N.A. | Director | Since Mar 2018 | Audit and Risk Committees member |
| Vitesse Energy, Inc. | Director | Since Jan 2023 | Audit; Compensation Chair; Nominating, Governance & ESG/Social Responsibility member |
| Jefferies International Limited (UK) | Director | Since Mar 2021 | Audit, Nominations, Risk; Remuneration Chair |
Board Governance
| Attribute | Details |
|---|---|
| Independence | Board affirmatively determined independence for all non-employee directors except SMBC nominee; Adamany is independent |
| Leadership | Independent Lead Director since March 28, 2022; presides over executive sessions; sets/approves agendas and information flow; acts as liaison to Chair/CEO/President; available to major shareholders |
| Attendance | All director nominees then serving attended ≥75% of Board/committee meetings in FY2024; Board met 8 times |
| Executive Sessions | Independent directors meet regularly; Lead Independent Director presides |
| Committee | Role | FY2024 Meetings |
|---|---|---|
| Nominating & Corporate Governance | Chair | 2 |
| Audit | Member | 8 |
| ESG/DEI | Member | 3 |
Board risk oversight strengthened by Adamany and Audit Chair Katz serving on Jefferies International Limited’s board for greater visibility into global operations .
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Cash fees (FY2024) | $341,750 | Includes Jefferies International Limited director fees of $166,750 |
| Annual director retainer | $125,000 | Standard non-employee director cash retainer |
| Lead Independent Director retainer | $40,000 | Additional cash retainer for LID |
| Committee chair fees | $10,000 | For chairs of committees other than Audit/Comp; Adamany chairs NCG |
| Equity grant (fair value) | $205,000 | Annual award; computed per GAAP |
| Total (FY2024) | $546,750 | Cash + equity fair value |
Performance Compensation
| Metric/Instrument | FY2024 Detail |
|---|---|
| Annual director equity grant | 4,648 shares of restricted stock or deferred shares to each independent director elected at the 2024 Annual Meeting |
| Fair value (grant) | $205,000 |
| Vesting schedule | One-third per year; non-forfeitable upon death, disability, or retirement at/after age 65 |
| Performance conditions | None (time-vested director awards) |
Other Directorships & Interlocks
| Company | Jefferies Director(s) Overlap | Potential Interlock Note |
|---|---|---|
| Vitesse Energy, Inc. | Adamany; also Friedman and Steinberg serve as directors | Post-spin-off interlocks; Board reviewed shared third-party directorships and determined they are not material to independence |
| BlackRock entities | Adamany at BlackRock Institutional Trust Company, N.A.; BlackRock, Inc. holds 7.6% of JEF | BlackRock ownership noted; Adamany’s role is at a BlackRock trust bank subsidiary, not BlackRock, Inc. board |
Expertise & Qualifications
- Audit & financial expertise; risk oversight; corporate governance; global operations; M&A; executive leadership .
- CPA; B.S. in Business Administration (Accounting) from John Carroll University .
Equity Ownership
| Holder | Shares | % of Outstanding | Notes |
|---|---|---|---|
| Linda L. Adamany | 75,251 | <0.1% | Beneficial ownership as of record date (Jan 27, 2025) |
| Stock Ownership Guidelines | Requirement | Compliance |
|---|---|---|
| Directors | 5x annual cash retainer (≥$625,000 in JEF shares) within five years of joining the Board | All directors with ≥5 years on Board have met/exceeded guideline (Adamany joined in 2014) |
Say-on-Pay & Shareholder Feedback
| Year | Approval % | Context |
|---|---|---|
| 2022 | 53% | One-time Leadership Continuity Grant drove dissent |
| 2023 | 59% | Ongoing transition; commitment to avoid special awards for ≥5 years while grant outstanding |
| 2024 | 71% | Renewed shareholder engagement; improved support |
Governance Assessment
- Independence and leadership: As Independent Lead Director, Adamany shapes board agendas, information quality, and executive session outcomes; she chairs NCG and sits on Audit and ESG/DEI, reinforcing governance, risk, and sustainability oversight .
- Engagement and attendance: Board met eight times in FY2024; directors attended ≥75% of meetings; independent directors meet regularly in executive session with Adamany presiding, signaling strong board process discipline .
- Ownership alignment: She holds JEF shares and is subject to enhanced director ownership guidelines; company confirms long-tenured directors meet/exceed guidelines, supporting alignment with shareholders .
- Conflicts and related parties: Board maintains a formal related person transaction policy overseen by the Audit Committee; disclosed related party items involve other executives, with no specific related-party exposure noted for Adamany. Board determined shared third-party directorships are not material for independence .
- Risk indicators: Company prohibits hedging; maintains clawback policy and robust compensation risk management; these protections enhance governance confidence for investors .