Joy Falotico
ALLIANT ENERGYAbout Joy Falotico
Independent director since 2021; age 57; Audit Committee Chair with deep operating and financial oversight experience from Ford and Lincoln Motor Company. Tenure on Alliant Energy’s boards (LNT, IPL, WPL) began in 2021; current term nominated to expire in 2028, reflecting continued board confidence in her skills in strategic leadership, risk management, and enterprise operations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lincoln Motor Company (Ford) | President | Mar 2018 – Dec 2022 | Led brand transformation and global operations |
| Ford Motor Company | Chief Marketing Officer | Mar 2018 – Jan 2021 | Oversaw enterprise marketing and customer strategy |
| Ford Motor Company | Group Vice President | Since 2016 | Senior leadership across marketing and operations |
| Ford Motor Credit Company | Executive Vice President; COO (2016); Chair (2016–2019); CEO (until 2018); Director | EVP: 2012; COO: 2016; Chair: to 2019; CEO: until 2018; Director: until 2022 | Led regulated financial services; enterprise risk and governance |
External Roles
| Organization | Role | Tenure | Notes/Committees |
|---|---|---|---|
| Lineage, Inc. | Director | Public since 2024 | Global temperature‑controlled warehouse REIT |
| Lincoln Electric Holdings, Inc. | Director nominee | N/A | Nominated to serve on the board |
| Ford Motor Credit Company | Director (prior) | Until 2022 | No current interlock with LNT; ended 2022 |
Board Governance
- Committee assignments: Audit (Chair), Executive (member), Operations (member) .
- Independence: Board affirmed Ms. Falotico has no material relationship; committee membership is limited to independent directors .
- Attendance: All directors attended ≥75% of Board/committee meetings; Board held seven meetings in 2024; Audit met six times; Operations met eight; Executive did not meet in 2024, signaling standard cadence and strong committee engagement .
- Lead Independent Director: Role held by Carol P. Sanders; majority voting policy in uncontested director elections; mandatory retirement age 70 supports refreshment .
- Related-party transactions: None since the beginning of 2024; policy oversight by Nominating & Governance .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Annual cash retainer (Board service) | $270,000 | $280,000 |
| Audit Committee Chair fee | $20,000 | $25,000 |
| Other audit member fee | $5,000 (schedule) | $5,000 (schedule) |
| Meeting fees | None | None |
| Fees earned/paid in cash (reported) | $282,500 | $305,000 |
| Deferrals (cash → company stock account) | $240,125 deferred; 4,518 shares credited | $228,750 deferred; 4,347 shares credited |
Additional director compensation provisions:
- Directors encouraged to use 55% of cash retainer to purchase stock or defer into Company Stock Account; may elect to receive fees in shares under the 2020 Omnibus Incentive Plan .
- 2025 retainer schedule increased to $290,000; Board Chair $200,000; committee chair fees modestly higher, consistent with market benchmarking .
Performance Compensation
- Non-employee directors do not receive performance-based pay, options, or annual bonuses; equity exposure comes through fee-paid shares or Deferred Common Stock Units (DSUs) elections, aligning director incentives with shareowner outcomes .
Other Directorships & Interlocks
| Company | Relationship to LNT | Interlock/Conflict Notes |
|---|---|---|
| Lineage, Inc. (REIT) | Customer-side energy consumer in warehousing (not disclosed by LNT) | No LNT-related transactions disclosed; independence affirmed |
| Lincoln Electric Holdings, Inc. | Industrial manufacturer; nominee status | No LNT-related transactions disclosed; independence affirmed |
| Ford Motor Credit Company | Financial services; prior directorship | Ended in 2022; no current interlock with LNT |
Expertise & Qualifications
- Strategic leadership; financial acumen/literacy; operations; customer perspective; public policy & regulatory; human capital management; risk management; technology systems; environmental & safety—explicitly highlighted by the Board in her biography .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned (Mar 10, 2025) | 15,857 |
| Shares held via deferred compensation plans (included in beneficial ownership) | 14,647 |
| Restricted Stock Units (director) | 0 (directors do not report RSUs here) |
| Ownership as % of shares outstanding | ~0.006% (15,857 / 256,866,523) |
| Shares pledged as collateral | None; pledging prohibited by policy |
| Director stock ownership guideline | Target = 2× annual retainer ($560,000 in 2024); 5-year attainment period; recent appointees on track |
Insider Form 4 activity (Deferred Common Stock Units; DSUs)
| Transaction Date | Units Awarded | Post-Transaction Holdings (units) | Security | SEC Filing |
|---|---|---|---|---|
| 2023-01-09 | 1,054.0675 | 5,025.5277 | Deferred Common Stock Units | |
| 2023-04-11 | 1,061.3422 | 6,129.4232 | Deferred Common Stock Units | |
| 2023-07-11 | 1,163.8338 | 7,344.6190 | Deferred Common Stock Units | |
| 2023-10-13 | 1,238.6935 | 8,649.3717 | Deferred Common Stock Units | |
| 2024-01-12 | 1,135.1231 | 9,863.8511 | Deferred Common Stock Units | |
| 2024-04-12 | 1,191.4063 | 11,153.0804 | Deferred Common Stock Units | |
| 2024-07-12 | 1,061.5834 | 12,317.6353 | Deferred Common Stock Units | |
| 2024-10-11 | 958.4000 | 13,379.8720 | Deferred Common Stock Units | |
| 2025-01-10 | 1,042.4020 | 14,527.5880 | Deferred Common Stock Units | |
| 2025-04-11 | 974.7890 | 15,621.9290 | Deferred Common Stock Units | |
| 2025-07-11 | 952.0000 | 16,702.4030 | Deferred Common Stock Units | |
| 2025-10-10 | 871.7710 | 17,704.7370 | Deferred Common Stock Units |
Governance Assessment
- Board effectiveness: As Audit Chair and audit committee financial expert, Falotico anchors financial reporting integrity and ERM oversight; Audit met six times in 2024, consistent with robust cadence . Engagement is reinforced by Operations committee membership (eight meetings), providing line-of-sight to safety, reliability, and environmental compliance .
- Independence & conflicts: Independence affirmed; no related-party transactions involving directors, and strict prohibition on pledging/hedging reduces alignment risks .
- Ownership alignment: Regular DSU accruals and significant fee deferrals into Company Stock Account demonstrate “skin in the game”; she is within the 5-year window to meet 2× retainer ownership guideline and is on track per Board disclosure .
- Compensation structure: Fixed retainer plus chair fees, with no variable/performance pay for directors; 2024 fees totaled $305,000, consistent with market benchmarking and governance best practices .
- Red flags: None observed—attendance thresholds met, independence affirmed, no related-party exposure, no pledging/hedging, and director compensation is conservative. Note broader shareholder support: say‑on‑pay approval >95% in 2024, indicating investor confidence in governance and pay practices (while focused on executives) .
Overall signal: Falotico’s audit leadership, multi-industry operating expertise, and consistent equity deferrals support investor confidence in LNT’s board oversight and alignment, with no evident conflicts or governance anomalies based on disclosed records .