Carol Sanders
ALLIANT ENERGYAbout Carol P. Sanders
Carol P. Sanders, age 58, is Lead Independent Director of Alliant Energy (LNT) and has served on the board since 2005. She is President of Carol P. Sanders Consulting LLC (since 2015), and previously held senior finance and operating roles including Executive Vice President, Chief Financial Officer and Treasurer at Sentry Insurance (2013–2015), and multiple executive roles at Jewelers Mutual Insurance Company. Core credentials emphasized by the board include strategic leadership, financial acumen, risk management, operations, public policy/regulatory, human capital management, and technology systems .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Carol P. Sanders Consulting LLC | President | 2015–present | Insurance and technology client advisory |
| Sentry Insurance, a Mutual Company | EVP, CFO & Treasurer | 2013–2015 | Senior finance leadership; treasury |
| Jewelers Mutual Insurance Company | Executive roles including EVP & COO; SVP, CFO & Treasurer; CFO | Not disclosed | Broad operating and finance leadership |
| Sentry Insurance (prior) | Controller & Assistant Treasurer | Not disclosed | Financial controls and treasury support |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| RenaissanceRE Holdings Ltd. | Director | 2016–present | Global reinsurance provider |
| First Business Financial Services, Inc. | Director | 2016–2024 | Wisconsin-based bank holding company |
Board Governance
- Lead Independent Director; chairs the Nominating and Governance Committee; member of the Audit and Executive Committees .
- Independence: Board affirmed Sanders and all directors are independent under Nasdaq rules .
- Audit Committee financial expert designation; Audit Committee met six times in 2024 .
- Attendance: Board held seven meetings in 2024; each director attended at least 75% of Board/committee meetings; all directors present at the 2024 annual meeting .
- Executive sessions: independent directors meet at every regular Board meeting; as Lead Independent Director (and Nominating & Governance Chair), she presides over executive sessions; the Lead Independent Director role will be discontinued after the 2025 annual meeting due to appointment of an independent Board Chair .
Fixed Compensation
| Component | 2024 Amount | Source |
|---|---|---|
| Annual retainer (All Boards) | $280,000 | 2024 schedule |
| Lead Independent Director fee | $35,000 | 2024 schedule |
| Chair, Nominating & Governance | $17,500 | 2024 schedule |
| Audit Committee member fee | $5,000 | 2024 schedule |
| Meeting fees | $0 | No meeting fees in 2024 |
| Total 2024 cash structure (sum) | $337,500 | Matches reported fees |
| 2025 retainer (reference) | $290,000 | 2025 schedule |
| 2025 Chair, Nominating & Governance | $20,000 | 2025 schedule |
| 2025 Lead Independent Director fee | $35,000 | 2025 schedule |
| 2024 Director Compensation (Reported) | Amount |
|---|---|
| Fees Earned or Paid in Cash | $337,500 |
| Change in Pension Value & NQ Deferred Comp Earnings | $1,537 |
| All Other Compensation | $1,500 |
| Total | $340,537 |
Additional policies: Directors are encouraged to use 55% of cash retainer to purchase or defer into company stock; required ownership equals two times retainer (target $560,000 in 2024) with a five-year compliance window; all directors with ≥5 years on the Board meet guidelines .
Performance Compensation
- Directors do not receive performance-based bonuses or stock options; long-term equity awards are not part of director pay. Directors may elect to receive fees in stock via the 2020 Omnibus Incentive Plan or defer into the Company Stock Account; no meeting fees are paid .
- Performance metrics, vesting schedules, severance/change-in-control terms in the proxy apply to executives, not directors; no director-specific performance pay metrics disclosed .
Other Directorships & Interlocks
| Company | Sector Relationship to LNT | Potential Interlock/Conflict Note |
|---|---|---|
| RenaissanceRE Holdings Ltd. | Insurance/reinsurance | No related-person transactions reported; director independence maintained . |
| First Business Financial Services, Inc. | Banking | Service ended in 2024; no related-person transactions reported . |
Related-party transactions: Company policy requires review/approval; none since the beginning of 2024, and none currently proposed .
Expertise & Qualifications
- Strategic leadership; financial acumen; operations; public policy/regulatory; human capital management; risk management; technology systems .
- Audit Committee financial expert designation by the Board .
Equity Ownership
| Holder | Shares Beneficially Owned | RSUs | Total | % of Shares Outstanding | Pledged? |
|---|---|---|---|---|---|
| Carol P. Sanders | 69,044 | — | 69,044 | 0.0269% (69,044 ÷ 256,866,523) | None pledged |
Notes:
- Shares outstanding as of March 10, 2025: 256,866,523 .
- Company prohibits hedging and pledging of Company stock by insiders (directors and officers) .
Governance Assessment
- Board effectiveness: Sanders provides strong independent leadership as Lead Independent Director and as chair of Nominating & Governance; she is also recognized as an Audit Committee financial expert—signals robust oversight across nominations, governance, and financial reporting .
- Alignment: She meets director stock ownership guidelines (≥2× retainer for directors with ≥5 years) and holds 69,044 shares; directors are encouraged to take a substantial portion of retainer in stock, supporting alignment with shareholders .
- Independence and conflicts: Board affirmatively determined independence; no related-person transactions; no hedging/pledging—low conflict risk .
- Attendance and engagement: Board met seven times in 2024; directors met attendance thresholds and hold executive sessions at each regular meeting—supports active oversight .
- Transition signal: Lead Independent Director role will be retired post-2025 annual meeting with the appointment of an independent Board Chair, potentially streamlining leadership while maintaining independence .
Shareholder sentiment (context): Say-on-pay approved with >95% support in 2024, indicating investor confidence in compensation governance overall .