Collete English Dixon
Marcus & MillichapAbout Collete English Dixon
Collete English Dixon (age 67) is an independent Class II director of Marcus & Millichap, Inc. (MMI), serving since 2021, with her current term expiring at the 2027 annual meeting; she sits on the Nominating and Corporate Governance Committee. She brings deep commercial real estate services experience, currently serving as Executive Director of the Marshall Bennett Institute of Real Estate at Roosevelt University, and previously held leadership roles at PGIM Real Estate/Prudential Real Estate Investors; she holds a B.B.A. (Notre Dame) and an M.B.A. (Mercer).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PGIM Real Estate/Prudential Real Estate Investors (PREI) | Executive Director; Vice President, Transactions; Co-leader, National Investment Dispositions | Not disclosed | Managed teams; oversaw U.S. investment property sales, bringing transaction execution and portfolio optimization expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Marshall Bennett Institute of Real Estate, Roosevelt University | Executive Director | Current | Academic leadership; industry engagement and talent development in real estate |
| Libra Investment Group, LLC | Managing Principal | Since Sep 2016 | Real estate consulting; investment and advisory perspective |
| Private Companies (unspecified) | Director (several private companies) | Not disclosed | Board service in private-company context |
Board Governance
- Independence: The Board determined Ms. English Dixon is independent under NYSE and SEC standards.
- Committee assignments: Nominating and Corporate Governance Committee (member). She is not listed on Audit, Compensation, or Executive Committees.
- Attendance and engagement: In 2024, the Board held 5 meetings; no director attended fewer than 75% of applicable meetings; average Board and committee attendance was 100%. All directors present at the 2024 annual meeting; directors are expected to attend the 2025 virtual annual meeting.
- Board structure: Separate Chair (George M. Marcus), Lead Independent Director (Don C. Watters), and CEO (Hessam Nadji); independent standing committees and regular executive sessions of independent directors.
Fixed Compensation
| Component (Director) | Policy/Rate | 2024 Amount (USD) |
|---|---|---|
| Board annual cash retainer | $65,000 per year | $65,000 |
| Nominating & Corporate Governance Committee – member fee | +$5,000 per year | $5,000 |
| Other committee/meeting fees | None (no per-meeting fees) | — |
| Total cash (2024) | $70,000 |
Notes: Policy includes additional fees for Audit (Chair +$20k; member +$10k) and Compensation (Chair +$15k; member +$5k) and Executive Committee member +$10k for independent directors; none apply to Ms. English Dixon in 2024. Directors also have a stockholder-approved $500k annual cap on cash+equity compensation.
Performance Compensation
Directors do not receive performance-based awards; equity is time-based restricted stock with one-year vesting to the next annual meeting (no director performance metrics apply).
| Equity Element | 2024 Grant | Grant Date | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Restricted Stock (annual grant) | 2,303 shares | May 2, 2024 | $74,986 | Vests in full on earlier of first anniversary or next annual meeting |
Change in control and death/disability: Director restricted stock fully accelerates upon a change in control, and vests in full upon death/disability after ≥1 year of service.
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed for Ms. English Dixon in the past five years. |
| Private company/academic boards | Several private company boards; Executive Director at Roosevelt University institute. |
| Compensation Committee interlocks (MMI) | No interlocks disclosed for the Compensation Committee in 2024; she is not on that committee. |
Expertise & Qualifications
- Commercial real estate services leadership, transaction execution, and portfolio dispositions (PGIM/PREI).
- Governance and human capital development via academic leadership at Roosevelt University’s real estate institute.
- Education: B.B.A. in finance and international business economics (University of Notre Dame); M.B.A. (Mercer University).
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned | 7,253 shares (includes 2,303 restricted shares vesting May 1, 2025) |
| Ownership as % of outstanding | <1% (MMI had 39,198,040 shares outstanding as of Mar 12, 2025) |
| Unvested director equity outstanding | 2,303 restricted shares (as of Dec 31, 2024, vesting on May 1, 2025) |
| Shares pledged as collateral | None disclosed for Ms. English Dixon; company policy prohibits hedging/pledging by directors (note: 3.5M shares pledged by Phoenix, controlled by the Chair) |
| Director stock ownership guideline | 5x annual cash retainer (within 5 years); all directors met the guideline as of Mar 12, 2025 |
Governance Assessment
- Strengths: Independent director with domain expertise; active on Nominating & Corporate Governance (oversight of governance standards, diversity, ESG, and public policy); strong attendance culture; director ownership guidelines met; anti-hedging/anti-pledging policies; no related-party transactions involving Ms. English Dixon disclosed.
- Compensation alignment for directors: Mix of modest fixed cash plus fixed-value equity; no performance awards or perquisites; equity vests after one year, supporting alignment without incentivizing short-term risk.
- Potential risk context (board-level): Concentrated control with the Chair’s affiliated holdings (Phoenix) and pledged shares could be perceived as a governance risk; however, independent directors (including Ms. English Dixon) form a majority and chair all standing committees.
- Shareholder responsiveness: While say-on-pay support fell to ~71% in 2024, the board engaged shareholders and added PSUs (50% of LTI) with 3-year revenue and Adjusted EBITDA goals beginning 2025—indicative of governance responsiveness; although this pertains to executives, it reflects the board’s oversight effectiveness of pay-for-performance.