Alejandra Veltmann
About Alejandra Veltmann
Independent director of NET Power Inc. (NPWR), age 57, serving since June 2023; Chair of the Audit Committee and member of the Compensation Committee. She is a certified public accountant and an SEC-defined “audit committee financial expert,” with a BBA in Accounting (University of New Mexico) and alumni of Harvard Business School’s Advanced Management Program; she also holds the SASB FSA credential . Her tenure spans NPWR’s public-company transition, with board independence affirmed under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Paragon Offshore plc | Vice President & Chief Accounting Officer | 2015–2018 | Led public-company financial reporting and controls in offshore drilling sector |
| Geokinetics, Inc. | Corporate Controller; Vice President & Chief Accounting Officer | 2010–2015 | Oversaw global accounting at major geophysical services company |
| KPMG LLP | Auditor (various roles) | 1995–2002 | Big Four audit experience; foundation for “financial expert” qualification |
| Arthur Andersen LLP | Auditor | 1992–1995 | Early audit training and practice |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| California Resources Corporation (NYSE: CRC) | Director; Audit Committee Chair | Since Dec 2021 | Chairs audit oversight; public board experience strengthens governance expertise |
| Structural Integrity Associates (private) | Director; Audit Committee Chair | 2021–2022 (to acquisition in 2022) | Audit leadership across nuclear, fossil, renewables, and critical infrastructure sectors |
| ESG Lynk | Senior Advisor; Founder and former CEO | Advisor since sale; CEO 2018–2023 | Sustainability reporting expertise enhances ESG oversight |
Board Governance
- Committee assignments: Audit Committee Chair; Compensation Committee member; audit committee comprised entirely of independent directors (Veltmann, Alexander, Peterson). Veltmann is designated an SEC “audit committee financial expert.” The Compensation Committee comprises Alexander (Chair), Kelliher, Veltmann .
- Independence: Board determined Veltmann is independent under NYSE rules; majority of NPWR’s board is independent .
- Attendance: Board held five meetings in 2024; each director attended at least 75% of board and committee meetings during their service period; Audit, Compensation, and Nominating committees each held five meetings in 2024 .
- Leadership and executive sessions: Chairman is independent (Jeff Bennett). Executive sessions are regularly held without CEO/management present; Joseph Kelliher is designated lead director if Chairman becomes non-independent .
- Shareholder engagement and policies: NPWR maintains stockholder communication channels and prohibits insider hedging, options trading, short sales, and pledging/margining of company stock (reduces alignment risks) .
Fixed Compensation
| Component (Director) | 2024 Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 60,000 | Standard for eligible non-employee directors |
| Committee chair fee (Audit) | 20,000 | Audit Committee Chair |
| Committee member fee (Compensation) | 7,500 | Compensation Committee member |
| Cash fees actually paid (2024) | 87,500 | Veltmann’s total cash fees in 2024 |
| Annual equity grant (RSUs) | 150,000 (grant-date fair value) | 15,369 RSUs granted 6/4/2024; vests by next annual meeting or one year |
| Total 2024 director compensation | 237,500 | Sum of cash and stock grant value |
Performance Compensation
- Directors do not receive performance-based equity; annual director equity is RSUs that vest time-based (earlier of day before next annual meeting or one-year anniversary) .
| Award Type | Grant Date | Shares/Units | Vesting | Performance Metrics |
|---|---|---|---|---|
| RSUs (Annual Director Grant) | 6/4/2024 | 15,369 | Vests by next annual meeting or one year | None disclosed for directors |
| RSUs (Director Award) | 6/3/2025 | 67,568 (Form 4) | Not specified in proxy (per Form 4 award) | None disclosed for directors |
No options, PSUs, or performance conditions are disclosed for director compensation; RSUs are time-based to align with service continuity .
Other Directorships & Interlocks
| Company | Relationship to NPWR | Potential Interlock/Conflict |
|---|---|---|
| California Resources Corporation (CRC) | No disclosed NPWR transactions or ownership | No interlock with NPWR’s strategic investors (OXY, 8 Rivers/SK, Constellation, Baker Hughes) as disclosed; low conflict risk – |
| Structural Integrity Associates | Private, prior role | No NPWR linkage disclosed |
Expertise & Qualifications
- Deep public-company finance, accounting, audit, and internal controls leadership; CPA and SEC “audit committee financial expert” .
- ESG and sustainability reporting thought leadership via ESG Lynk; relevant for NPWR’s stakeholder communications .
- Broad energy sector experience spanning geophysical services and offshore drilling; enhances risk oversight for a capital-intensive clean power technology platform .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial ownership of NPWR common stock (as of 4/15/2025) | 0 shares; 0% | No Class A or Class B common stock reported under SEC beneficial ownership table |
| Unvested RSUs held (as of 12/31/2024) | 29,665 RSUs | Aggregate unvested RSUs disclosed for eligible directors, including Veltmann |
| Form 4 RSU awards (2024) | 15,369 RSUs; post-transaction owned 36,813 | Granted 6/4/2024; director award table aligns with $150k grant value |
| Form 4 RSU awards (2025) | 67,568 RSUs; post-transaction owned 104,381 | Granted 6/3/2025; increases reported RSU holdings |
| Pledging/Hedging | Prohibited by policy (short sales, options, hedging, margin/pledging) | Reduces misalignment risk |
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Security | Quantity | Post-Transaction Ownership | SEC Filing |
|---|---|---|---|---|---|---|
| 2024-06-06 | 2024-06-04 | Award (A) | Restricted Stock Units | 15,369 | 36,813 | https://www.sec.gov/Archives/edgar/data/1845437/000184543724000025/0001845437-24-000025-index.htm |
| 2025-06-05 | 2025-06-03 | Award (A) | Restricted Stock Units | 67,568 | 104,381 | https://www.sec.gov/Archives/edgar/data/1845437/000184543725000041/0001845437-25-000041-index.htm |
Governance Assessment
- Strengths: Independent director; Audit Committee Chair with SEC “financial expert” status; direct oversight of related-party transactions and auditor selection; consistent meeting cadence and attendance; director equity pay aligns with shareholder interests via time-based RSUs .
- Risks/Watch items: NPWR changed auditors (Grant Thornton dismissed Mar 17, 2025; KPMG appointed) without disagreements or reportable events—monitor continuity and PCAOB-related disclosures; absence of say‑on‑pay votes due to EGC status limits direct shareholder feedback on pay practices .
- Conflicts: No disclosed related-party ties for Veltmann; audit chair role actively reviews and approves Item 404 transactions; major related-party dealings involve OXY, Baker Hughes, Constellation, and SK/8 Rivers; oversight mechanisms are explicit –.
- Compensation alignment: 2024 mix balanced—$87.5k cash and $150k annual RSUs; no performance-linked director pay (reduces gaming risk, but less pay-for-performance linkage) .