Karen Putterman
About Karen Putterman
Karen Putterman (age 45) was appointed an independent director of Kinetik Holdings Inc. in January 2025. She is a Managing Director, Asset Manager for Blackstone Energy Transition Partners (since May 2024) and previously served as Vice President/General Manager of Collins Aerospace’s Military Landing Gear business (2017–April 2024). She holds a B.A. in Natural Resource Management (Brandeis), an MBA (University of Michigan Ross), and an M.S. from Michigan’s School of Natural Resources & Environment. The Board has determined she is independent under NYSE rules; she is one of Blackstone’s designees to the Board, with Blackstone and affiliates owning approximately 49% of Kinetik’s outstanding common stock and nominating her under the Stockholders Agreement rights.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Collins Aerospace | Vice President / General Manager, Military Landing Gear | 2017 – Apr 2024 | Led business and operations for military landing gear unit |
| Blackstone portfolio companies | Business & operations leadership roles | Not disclosed | Multiple leadership roles across Blackstone portfolio prior to Collins |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Blackstone Energy Transition Partners | Managing Director, Asset Manager | May 2024 – Present | Oversees assets within Blackstone’s energy transition platform |
Board Governance
- Committee assignments and chair roles: None as of the 2025 proxy; not listed on Audit, Compensation, or Governance committees.
- Independence: Board determined she is independent under NYSE standards and company guidelines.
- Lead Independent Director: Laura A. Sugg.
- Board attendance: In 2024 the Board held 6 meetings and all then-serving directors attended all Board and committee meetings; Ms. Putterman joined in January 2025 (no 2024 attendance to report).
- Executive sessions: Independent directors hold regular executive sessions without management present.
Fixed Compensation
| Component | Policy Amount | Ms. Putterman Actual |
|---|---|---|
| Annual cash retainer (non-employee director policy) | $110,000 (increased May 2024) | $0 (no compensation to Blackstone designees) |
| Committee chair retainers | Audit $35,000; Compensation $20,000; Governance $15,000 | $0 (not a chair; Blackstone designees unpaid) |
| Lead Director retainer | $30,000 | N/A (not Lead Director) |
| Meeting fees | Not disclosed (no per-meeting fees listed) | $0 (no director pay to Blackstone designees) |
- Policy scope and note: Kinetik’s “Non-Employee and Non-Affiliate Director Compensation Policy” excludes directors designated by Blackstone or I Squared from receiving director compensation.
Performance Compensation
| Component | Policy Design | Ms. Putterman Actual |
|---|---|---|
| Annual director equity | Fully vested RSUs ~$140,000 (increased May 2024; granted to non-employee directors) | $0; policy specifies no equity to Blackstone designees |
- There are no performance metrics tied to director compensation; for non-affiliate directors, equity awards are fully vested RSUs, not performance-based.
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed in last five years. |
| Interlocks/affiliations | Blackstone designee; other Blackstone designees on KNTK Board include David I. Foley and JP Munfa. |
| Governance guideline on outside boards | Company guidelines: directors generally limited to three other public company boards without Board approval. |
Expertise & Qualifications
- Operational and business leadership experience (Collins Aerospace; Blackstone portfolio).
- Academic background spanning natural resources and business (Brandeis; University of Michigan Ross; School of Natural Resources & Environment).
- Board skill matrix highlights Board-wide strengths in senior leadership, finance, M&A, risk, operations/engineering, ESG, etc. (Board-level, not individual-specific).
Equity Ownership
| Holder | Class A Shares | Class C Shares | Combined Voting Power |
|---|---|---|---|
| Karen Putterman (as of Mar 28, 2025) | — | — | — |
| Blackstone Inc. and affiliates (for context) | 15,766,039 Class A; 65,542,472 Class C; plus rights described in footnote | — | 49.0% combined voting power |
- Anti-hedging and pledging: Company policy prohibits directors and officers from hedging and pledging Company securities.
- Director stock ownership guidelines: Non-employee directors are required to own stock equal to 5x annual cash retainer; these guidelines sit within the Non-Employee and Non-Affiliate Director Compensation Policy (Blackstone designees receive no director compensation under this policy).
Related-Party / Conflict Controls
- Audit Committee responsibility includes resolving potential conflicts in related-party transactions between Kinetik and Blackstone or I Squared affiliates per the Related Persons Transactions Policy.
- Certain transactions with specified stockholders/affiliates require approval by at least 66% of disinterested directors under governance arrangements referenced in the proxy.
Governance Assessment
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Strengths
- Publicly designated as independent under NYSE standards; adds operational perspective from aerospace/manufacturing and energy transition asset management to the Board.
- Strong conflict-management framework: Audit Committee oversight of Blackstone-related transactions and supermajority disinterested director approvals help mitigate affiliate conflicts.
-
Potential Risks / RED FLAGS
- Affiliate alignment vs minority holders: As a Blackstone employee and designee paired with Blackstone’s ~49% voting power, there is inherent perceived conflict risk on capital allocation, M&A, and related-party matters despite independence designation.
- Ownership alignment at the individual level is limited (no personal beneficial ownership reported; no director equity/fees under policy for Blackstone designees), which places alignment primarily through Blackstone’s stake rather than personal holdings.
- No current committee assignments reduces direct influence on audit, compensation, and governance levers; investors may watch for future committee placements to assess board effectiveness contributions.
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Contextual signals for investor confidence
- Board structure separates Chair and CEO and maintains a Lead Independent Director with regular independent executive sessions.
- All standing committees comprised of independent directors per SEC/NYSE standards.
Notes: All data reflect Kinetik’s 2025 definitive proxy (filed April 3, 2025).