Peter Stoneberg
About Peter B. Stoneberg
Peter B. Stoneberg (age 69) has served as an Independent Director of Kilroy Realty Corporation since 2014 and is designated an NYSE “independent” director. He chairs the Nominating/Corporate Governance Committee, serves as an Audit Committee member and NYSE/SEC “financial expert,” and is a member of the Corporate Social Responsibility & Sustainability (CSR&S) Committee. A technology-focused investment banker and M&A advisor, he is Managing Partner of Architect Partners (since 2020) and Velocity Ventures (founded 2000), with prior senior roles at Montgomery Securities and Bank of America Capital Investors; he holds a B.S. in Business (University of Colorado) and completed Stanford Law School Directors’ College .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Architect Partners, LLC | Managing Partner | 2020–present | Technology M&A advisory leadership |
| Velocity Ventures, LLC | Managing Partner; Founder | 2000–present | Merchant banking and M&A advisory |
| Dresner Partners, LLC | Managing Partner | 2018–2020 | Investment banking leadership |
| Bank of America Capital Investors (BACI) | Investment Partner | 2000–2006 | Equity/debt investing, capital raising experience |
| Montgomery Securities | Senior Managing Director; founded & led Technology M&A group | 1994–1999 | Built tech M&A franchise ahead of BofA acquisition |
| Broadview Associates; Data/Voice Solutions Corp; IBM/ROLM | MD; Co‑Founder & President; Product Marketing Manager | 1980–1986 | Early-stage operating and advisory roles |
External Roles
| Organization | Role | Tenure/Notes |
|---|---|---|
| Atlas Peak Appellation Association (Napa, CA) | President & Board Member | Non-profit; wine region association |
| San Francisco America’s Cup Organizing Committee | Founder | Civic/organizing role |
| St. Francis Sailing Foundation | Chair, Investment Committee | Non-profit investment oversight |
Board Governance
- Independence and Board leadership: Board is majority independent; Stoneberg is an Independent Director. Board has an Independent Chair separate from the CEO, with regular executive sessions of independent directors .
- Committees and roles: Governance Committee Chair; Audit Committee member (financial expert); CSR&S Committee member. 2024 meeting cadence: Audit (6), Governance (5), CSR&S (2) .
- Attendance and engagement: The Board held five meetings in 2024; all directors attended at least 75% of Board and applicable committee meetings and all current directors attended the 2024 annual meeting .
- Governance scope: Governance Committee oversees director nominations, Board evaluations, stock ownership guidelines, Code of Conduct and Related Party Transactions Policy; CSR&S Committee oversees sustainability, human capital, and community initiatives; Audit oversees financial reporting, internal controls, and cybersecurity .
Fixed Compensation
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2024 Director pay (Stoneberg): | Component | Amount (USD) | |---|---| | Cash Fees | $123,000 | | Equity (RSUs; granted 5/22/2024) | $145,002; 4,304 RSUs, vesting at 2025 annual meeting | | Total | $268,002 |
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Program structure and 2024 changes (effective Q3 2024): | Description | First Half 2024 | From Q3 2024 | |---|---:|---:| | Annual Cash Retainer | $70,000 | $75,000 | | Independent Chair Retainer | N/A | $100,000 | | Audit Committee – Member Retainer | $15,000 | $15,000 | | Compensation Committee – Member Retainer | $10,000 | $10,000 | | Nominating/Governance – Member Retainer | $8,000 | $10,000 | | CSR&S – Member Retainer | $5,000 | $10,000 | | Audit Committee – Chair Retainer | $20,000 | $35,000 | | Compensation Committee – Chair Retainer | $20,000 | $30,000 | | Governance Committee – Chair Retainer | $10,000 | $18,000 | | CSR&S Committee – Chair Retainer | $10,000 | $18,000 | | Annual equity grant (RSUs) | $145,000 value; full vesting at next annual meeting; dividend equivalents; change-in-control/death/disability vesting; deferral available |
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Director stock ownership guideline: 5× annual retainer within five years; as of 12/31/2024, all non‑employee directors met the requirement or were within the first five years of service .
Performance Compensation
- Non-employee director equity is time-based; no performance metrics, options, or incentive plans apply to directors beyond service-based RSUs and cash retainers .
Other Directorships & Interlocks
| Company/Organization | Type | Role | Notes |
|---|---|---|---|
| Public company boards | — | — | None disclosed for Stoneberg; skills matrix indicates no public board service checkmark for him . |
| Architect Partners, LLC | Private | Managing Partner | Investment banking (tech M&A) |
| Velocity Ventures, LLC | Private | Managing Partner | Merchant banking/M&A advisory |
| Prior directorships (private) | Private | Director/Investor | Cupertino Electric; Saleslogix; NetCom Systems; others (prior) |
No related-party transactions involving Stoneberg were disclosed; the Governance Committee (which he chairs) reviews any Related Party Transactions under Board‑adopted policy .
Expertise & Qualifications
- Target tenant industry experience (Technology, Life Science/Healthcare, Media, FIRE); executive leadership; investment and capital markets; financial literacy/accounting; risk management; “advanced degree/professional accreditation” competency; designated Audit Committee financial expert .
- Career foundation in technology M&A and capital formation (Montgomery Securities, BACI; Architect Partners; Velocity Ventures). Education: B.S. in Business, University of Colorado; completed Stanford Law School Directors’ College .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership | 26,739 shares; <1% of outstanding common stock . |
| Unvested director RSUs (as of 12/31/2024) | 4,439 RSUs scheduled to vest at 2025 Annual Meeting . |
| Ownership guideline | 5× annual retainer; company states all non‑employee directors met or were within the first five years as of 12/31/2024 . |
| Hedging/Pledging | Anti‑hedging policy applies to directors; anti‑pledging policy applies to Section 16 officers (director policy not specified for pledging), reinforcing alignment . |
Governance Assessment
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Strengths for investor confidence:
- Governance leadership: Chairing the Governance Committee (policy oversight, Board refreshment, related‑party review) and Audit financial expert credentials strengthen oversight .
- Relevant domain expertise: Deep technology/M&A and capital markets background aligned with KRC’s tenant mix and capital needs .
- Alignment mechanisms: Standard director pay mix (≈54% equity, 46% cash in 2024), RSU holding/deferral features, and director ownership guidelines support alignment; anti‑hedging policy in place .
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Watch items / potential conflicts:
- External advisory roles (Architect Partners; Velocity Ventures) could present conflicts if mandates ever involve KRC or counterparties; however, no related‑party transactions are disclosed, and the Governance Committee (which he chairs) reviews such matters under a formal policy .
- Attendance: Company reports all directors met ≥75% attendance; no individual shortfalls disclosed for Stoneberg .
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Overall view: An engaged independent director with committee leadership and audit financial expertise, standard director pay practices, and disclosed ownership. No red‑flag related‑party issues identified in 2024 disclosures; maintain monitoring for any future advisory engagements intersecting KRC .