Angela Barbee
LEGGETT & PLATTAbout Angela Barbee
Independent director of Leggett & Platt since 2022 (age 59). Former Senior Vice President—Technology and Global R&D at Weber Inc. (2021–2022); prior leadership roles at Kohler (2018–2021) and General Motors (1994–2017). Education: B.S. Mechanical Engineering (Wayne State), M.S. Mechanical Engineering (Purdue), Executive Education (Ross Business School, University of Michigan). The Board classifies her as independent under NYSE standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Weber Inc. | Senior Vice President — Technology and Global R&D | 2021–2022 | Led global R&D and technology for consumer products manufacturer |
| Kohler Company | Vice President — Advance Development, Global Kitchen & Bath Group; Vice President — New Product Development & Engineering, Global Faucets | 2020–2021; 2018–2020 | Innovation and engineering leadership in global consumer/industrial products |
| General Motors | Director — Global Creative Design Operations; various roles since 1994 | 2013–2017; 1994–2017 | Global design operations and engineering experience |
External Roles
| Category | Current |
|---|---|
| Other public company boards | 0 |
Board Governance
| Item | Detail |
|---|---|
| Independence | Independent director; satisfies NYSE/SEC independence standards; Audit and HRC committees comprised entirely of independent directors |
| Committees | Audit Committee (member); Human Resources & Compensation (HRC) Committee (member) |
| Attendance & engagement | Board met 7 times in 2024; Audit 4; HRC 5. All directors attended at least 75% of Board/committee meetings and attended the 2024 Annual Meeting. Independent directors held executive sessions at each quarterly Board meeting in 2024. |
| Financial literacy | Audit Committee members are independent and financially literate per NYSE rules (Audit Committee financial experts identified are Blinn, Padmanabhan, Shah, Wood). |
| Lead/Chair roles | No chair roles; serves as HRC Committee member and signatory to HRC Committee report. |
Fixed Compensation
Director compensation framework and Ms. Barbee’s 2024 cash compensation.
| Component | Standard Amount | Ms. Barbee 2024 |
|---|---|---|
| Board annual cash retainer | $100,000 | — |
| Audit Committee member retainer | $10,000 | — |
| HRC Committee member retainer | $8,000 | — |
| Total fees earned or paid in cash | — | $118,000 |
Notes:
- Committee chair and lead director add-ons (not applicable to Ms. Barbee): Audit Chair $25,000; HRC Chair $20,000; NGS Chair $15,000; Lead Director $30,000; Board Chair $150,000.
Performance Compensation
Directors receive equity retainers; awards are time-based (no performance metrics).
| Equity Element | Terms | Ms. Barbee 2024 |
|---|---|---|
| Annual equity retainer (Restricted Stock or RSUs) | $160,000 grant; awards vest the day prior to the next annual meeting; RSU deferral optional (2–10 years) with dividend equivalents at 20% discount; directors may also defer cash retainers into stock units (20% discount) | Stock Awards $160,000; 8,225 unvested RSUs at 12/31/2024 vesting 5/6/2025 |
| Non-Qualified Deferred Compensation earnings | Discount on stock unit dividends and RSUs (20% for DSUs) | $2,391 |
| All other compensation | Primarily dividend equivalents; amounts >$10k detailed for certain directors (not applicable to Ms. Barbee) | $9,564 |
Performance metrics table (directors): Not applicable — director equity is time-based; no performance conditions disclosed.
Other Directorships & Interlocks
| Company | Role | Committees |
|---|---|---|
| None disclosed | — | — |
- Other public company boards: 0. No disclosed interlocks or related public directorships.
Expertise & Qualifications
- Manufacturing/Operations; R&D/Innovation/Technology; IT/Cybersecurity; Governance/Sustainability; Strategic Planning; Financial/Accounting; Global Business; HR/Compensation; L&P industry experience (as per Board skills matrix).
Equity Ownership
| Ownership Detail (as of 3/5/2025 unless noted) | Amount |
|---|---|
| Common stock owned | 20,431 shares |
| Stock units (deferred/RSUs) | 13,573 units |
| Options (exercisable in 60 days) | 0 |
| Total beneficial ownership | 34,004 (shares + units) |
| Unvested RSUs at 12/31/2024 | 8,225 units (vest on 5/6/2025) |
| Director ownership guideline | 5× annual cash retainer within 5 years; as of 3/5/2025, all non-management directors were compliant other than Blinn, Padmanabhan, Shah, and Campbell due to stock price decline (Ms. Barbee not among exceptions) |
| Hedging/pledging | Prohibited for directors under insider trading policy |
Governance Assessment
-
Strengths
- Independent director with deep R&D/engineering and global operations background across consumer and automotive end markets, aligned with LEG’s manufacturing footprint.
- Active committee service on Audit and HRC; Board/committee cadence indicates regular oversight; independent directors met in executive session quarterly.
- Director pay structure balanced between cash and equity; equity vests annually and may be deferred, enhancing alignment. No hedging/pledging permitted.
- Ownership alignment: meaningful share/unit holdings and in compliance with director ownership guidelines.
- Company-level say-on-pay support of 94% in 2024 and use of independent compensation consultant (Meridian) reflect positive governance signals.
-
Potential Risks/Watch Items
- No other public company board experience may limit external benchmarking/network breadth; however, Board mix overall includes multiple experienced directors.
- No director-specific performance metrics (director equity is time-based), which is typical but provides limited performance contingency at the board level.
- No related-party transactions disclosed involving Ms. Barbee; company policy includes committee review for any such transactions.
-
Red Flags
- None disclosed: no related-party dealings, no attendance concerns, no pledging/hedging, no tax gross-ups or option repricing in compensation programs.