William Lamkin
About William A. Lamkin
William A. Lamkin, 65, is an Independent Trustee of Office Properties Income Trust (OPI) and has served on the Board since 2019. He currently chairs the Audit Committee and is recognized by the Board for extensive finance and legal expertise gained through investment banking and legal practice. His background includes partnership at Ackrell Capital, senior investment banking at ABN AMRO, and prior work as a practicing attorney; the Board affirms his independence under Nasdaq and SEC rules and OPI’s governing documents .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ackrell Capital LLC | Partner | 2003–2019 | Investment banking leadership; capital raising and strategic transactions |
| ABN AMRO (Investment Banking Division) | Senior Vice President | Prior to 2003 | Investment banking; finance expertise |
| Law Practice | Attorney | Prior to finance career | Legal/regulatory expertise |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Service Properties Trust | Trustee | Since 2007 | RMR public client board |
| Seven Hills Realty Trust | Trustee | Since 2021 | RMR public client board |
| Tremont Mortgage Trust | Trustee | 2020–Sep 2021 | Merged into Seven Hills Realty Trust (Sep 2021) |
| Select Income REIT | Trustee | 2012–Dec 2018 | Merged with subsidiary of OPI (Dec 2018) |
| Ackrell SPAC Partners I Co. | Director | 2020–2022 | Non-RMR managed public company |
Board Governance
- Committee assignments: Audit Committee Chair; Board expects continued Audit Chair role post-2025 meeting as part of its slate composition .
- Independence: Board determined Lamkin is independent under Nasdaq and SEC rules and OPI governing documents; review considered relationships with RMR, The RMR Group Inc., and other RMR Clients; no material relationship identified .
- Attendance: In 2024, the Board held nine meetings; each Trustee attended at least 75% of Board and committee meetings during their service period; all Trustees attended the 2024 annual meeting .
- Committee activity: Audit Committee held eight meetings in 2024, overseeing financial reporting integrity, auditor independence and performance, internal audit, risk (including cybersecurity and AI), and compliance; Lamkin signed the Audit Committee’s report as Chair .
- Executive sessions: Independent Trustees meet at least twice per year in sessions without management, led by the Lead Independent Trustee .
- Lead Independent Director: The Lead Independent Trustee role is compensated and signals structured independent oversight at OPI; Ms. Elena P. Poptodorova receives additional cash retainer in that role .
Fixed Compensation
| Component | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 85,000 | Independent Trustee cash fee |
| Committee chair fee (Audit) | 20,000 | Audit Committee Chair annual fee |
| Total cash (FY2024) | 105,000 | Sum of retainer and chair fee |
Performance Compensation
| Grant Date | Award Type | Shares | Grant Fair Value ($) | Vesting |
|---|---|---|---|---|
| June 13, 2024 | Common Shares | 11,627 | 24,998 | Fully vested on grant date |
Performance metrics tied to Trustee compensation (TSR, EBITDA, ESG, etc.): None disclosed for Trustee equity awards; awards are time-based common shares with immediate vesting .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| RMR ecosystem roles | Lamkin serves on multiple RMR public client boards (SVC, SEVN, prior TRMT, prior SIR), indicating interlocks across entities managed by RMR, which also manages OPI . |
| Board’s independence conclusion | Despite RMR affiliations, OPI’s Board concluded Lamkin has no relationship that impairs judgment or constitutes a material relationship under Nasdaq/SEC standards . |
Expertise & Qualifications
- Financial expertise and legal/regulatory acumen; investment banking leadership and capital markets experience; real estate/REIT knowledge; public company board experience .
- Risk oversight experience inclusive of cybersecurity and AI topics via Audit Committee leadership .
Equity Ownership
| Holder/Structure | Shares Beneficially Owned | % Outstanding | Additional Information |
|---|---|---|---|
| William A. Lamkin | 36,177 | <1% | Shares held in a trust (Janet W. Lamkin and William A. Lamkin, Trustees U/T/D 9-28-18); Lamkin may be deemed to hold voting/investment power as trustee and beneficiary . |
| Trustee ownership guidelines | Meets requirement | — | Trustees must retain at least 20,000 shares within five years; all Trustees were in compliance as of March 17, 2025 . |
Governance Assessment
- Strengths: Independent status affirmed; Audit Committee Chair with demonstrated financial literacy and risk oversight responsibilities; signs Audit Committee report; meets equity ownership guidelines, aligning interests with shareholders; structured independent oversight via Lead Independent Trustee and executive sessions .
- Compensation mix: Balanced cash retainer plus modest equity grant; equity fully vested on grant date—alignment via ownership guidelines rather than performance-based metrics .
- Engagement: Board ran nine meetings; Audit held eight; Board reports all Trustees at ≥75% attendance; indicates regular engagement through committee work and annual meeting attendance .
- Potential conflict signals: Multiple directorships across RMR-managed entities create network interlocks that warrant investor monitoring; however, OPI’s Board explicitly reviewed RMR relationships and affirmed independence under applicable standards .
- Red flags: No pledging, hedging, related-party transactions, tax gross-ups, or option repricings disclosed for Lamkin; equity awards are straightforward common shares, immediately vested; continue to monitor for evolving RMR-related governance dynamics .