Greta J. Harris
MARKEL GROUPAbout Greta J. Harris
Greta J. Harris, age 64, is an independent director of Markel Group Inc. (MKL), serving since 2021. She is President and CEO of Better Housing Coalition (BHC) since August 2013, and previously held senior roles at the Local Initiatives Support Corporation (LISC), bringing deep community development, strategy, and risk management expertise to MKL’s board . The Board determined she meets NYSE independence standards; she attended the 2024 Annual Meeting and at least 75% of her Board/committee meetings in 2024, indicating active engagement .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Local Initiatives Support Corporation (LISC) | Senior Program Director; Program Vice President | 1997–July 2013 | Provided strategic/managerial support for economic development across Southern and Midwestern regions; expertise in community development and risk management |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Better Housing Coalition (BHC) | President & CEO | Aug 2013–present | Leads affordable housing initiatives; board/partnership alignment |
| Greater Washington Partnership | Board Member | Not disclosed | Regional economic development focus |
| Housing Partnership Network | Board Member | Not disclosed | Non-profit membership network in housing |
| The Richmonder | Board Member | Not disclosed | Regional board service |
| National NeighborWorks Association | Board Member | Not disclosed | National community development advocacy |
| Virginia Redistricting Commission | Co-Chair | 2021 | State-level governance experience |
Board Governance
- Committee assignments: Harris is a member of the Nominating/Corporate Governance Committee; she is not a chair of any committee .
- Independence: The Board determined Harris is independent under MKL’s categorical standards incorporating NYSE rules; all members of the Nominating/Corporate Governance, Audit, and Compensation Committees meet applicable independence standards .
- Attendance: In 2024, each current director attended at least 75% of aggregate Board and relevant committee meetings; Harris attended the 2024 Annual Meeting (all current directors other than Mr. Michael attended) .
- Executive sessions: Non-employee directors (all independent) meet in executive session at each regular Board meeting .
- Board/Committee activity levels (2024): Board (5), Audit (6), Compensation (4), Nominating/Corporate Governance (4) .
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $110,000 | Standard retainer for non-employee directors |
| Committee/Chair fees | $0 | Only Lead Independent Director receives an additional retainer; Harris is not Lead Independent Director |
| Meeting fees | $0 | Not disclosed; retainer covers service; expenses reimbursed |
| All Other Compensation | $15,000 | Company matching gifts to charities (up to $15,000) |
Performance Compensation
| Equity Component (2024) | Fair Value | Grant Structure | Vesting/Terms |
|---|---|---|---|
| Restricted Stock (annual grant) | $164,806 | Granted upon election to Board; valued ~ $165k and rounded to whole shares | Restricted stock grants; specific vesting schedule not detailed for directors in proxy |
Notes:
- Directors may elect to receive retainer fees in stock via the 2020 Stock Purchase Plan (10% discount under Non-Qualified component), but Harris did not receive a discount in 2024 (indicating cash retainer election) .
Other Directorships & Interlocks
| Category | Company/Entity | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Public company boards | None disclosed | — | No public company interlocks identified in proxy |
| Non-profit/Regional boards | Greater Washington Partnership; Housing Partnership Network; The Richmonder; National NeighborWorks Association | Board Member | Non-profit affiliations; independence standards address contributions to tax-exempt organizations; no conflicts disclosed |
Expertise & Qualifications
- Executive leadership in affordable housing and community development; strengths in corporate strategy, talent management, government relations, and risk management .
- Board-level governance orientation via Nominating/Corporate Governance Committee membership .
- Independent under NYSE standards; aligns with MKL’s governance framework emphasizing independent oversight .
Equity Ownership
| Metric | Value | Source/Notes |
|---|---|---|
| Shares owned (direct) | 634 | Beneficial ownership table |
| RSUs (beneficial within 60 days) | — | No RSUs counted as beneficial within 60 days (director grants are restricted stock) |
| Shares outstanding (record date) | 12,711,262 | As of March 13, 2025 |
| Ownership as % of outstanding | ~0.005% | 634 / 12,711,262; computed for context |
| Pledged shares | Prohibited for non-employee directors | MKL policy prohibits any pledging by non-employee directors |
| Director stock ownership guideline | ≥5x annual cash retainer | All current non-employee directors meet guideline except Mr. Michael (recently elected), implying Harris meets guideline |
Governance Assessment
- Committee role and independence: Harris serves on Nominating/Corporate Governance and is independent, supporting board composition/independence oversight and minimizing conflict risk .
- Engagement: Attendance at least at the 75% threshold and presence at the 2024 Annual Meeting indicate adequate engagement; MKL schedules executive sessions of independent directors at each Board meeting, strengthening oversight .
- Compensation alignment: Director pay mix is balanced with cash retainer ($110k) and restricted stock (~$165k), plus charitable match ($15k). She did not elect discounted stock purchase on the retainer in 2024, but the annual restricted stock grant ensures equity alignment; no options or performance-based director awards disclosed .
- Ownership alignment: Harris meets MKL’s stringent director ownership guideline (≥5x cash retainer), and non-employee directors are prohibited from pledging, reducing alignment risks; her beneficial ownership is modest in absolute share count but supported by ongoing equity grants .
- Conflicts/related-party exposure: No related party transactions disclosed involving Harris; MKL’s Related Party Transactions Policy and independence standards mitigate conflict risk, including contributions to tax-exempt organizations thresholds .
- RED FLAGS: None disclosed specific to Harris. Notable MKL-wide safeguards include: prohibition on hedging and pledging for non-employee directors; independent committee composition; annual Board elections; ownership guidelines. Harris’s roles are primarily in non-profits, with no public-company interlocks noted .