Barbara Lang
About Barbara Lang
Barbara B. Lang (age 81) is Managing Principal and Chief Executive Officer of Lang Strategies, LLC. She has served on Piedmont Office Realty Trust’s board since 2015 and is an independent director under NYSE standards, currently chairing the Nominating & Corporate Governance Committee and serving on the Compensation Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| D.C. Chamber of Commerce | President & Chief Executive Officer | 2002–2014 | Led regional business organization; recognized as a Washingtonian “Most Powerful” leader; Business Leader of the Year by DCBIA |
| Fannie Mae | Vice President, Corporate Services & Chief Procurement Officer | Not disclosed | Oversaw corporate services and procurement operations |
| IBM | Management roles in finance, administration, product forecasting | Not disclosed | Senior management experience across finance/admin/forecasting |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Cardinal Financial Corporation (NASDAQ: CFNL) | Director | 2014–2017 | Former public company directorship |
| Sibley Hospital Foundation | Director | Current | Non-profit governance |
| Conservation Nation | Chair | Current | ESG and community engagement leadership |
| Pyxera Global | Board Member | Current | Global development and CSR-focused nonprofit |
| Author | “Madame President: Leadership Lessons...” | Published | Leadership and DEI author |
Board Governance
- Independence: The board is a super-majority independent; Lang is independent under NYSE standards .
- Committee Assignments: Chair, Nominating & Corporate Governance; Member, Compensation .
- Meetings and Attendance: 2024 board met 9 times; committees met Audit 6, Nominating 4, Compensation 6, Capital 4; every director attended >75% of their board/committee meetings; all directors attended the 2024 annual meeting .
- Leadership Structure: Separate Chair and CEO; Chair presides at executive sessions of independent directors .
- ESG Oversight: Nominating & Corporate Governance Committee oversees ESG strategy with quarterly management reports to the board .
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual Board Retainer (Cash) | $80,000 | Standard non-employee director retainer (2024) |
| Committee Chair Fee (Nominating & Governance) | $15,000 | 2024 chair fee; increases to $17,500 effective 1/1/2025 |
| Total Cash Earned (2024) | $95,000 | As reported for Lang |
| Annual Equity Award (Grant-Date Value) | $100,000 | Common stock under 2007 Omnibus Incentive Plan; grant date 5/7/2024 (price $6.95) |
| 2025 Adjustments | Cash retainer to $85,000; Audit member retainer $95,000; Board Chair add’l $60,000; committee chair fees +$2,500 | Applies prospectively (committee chair increase relevant to N&G chair) |
Performance Compensation
| Equity Component | Type | Grant Mechanics | Vesting |
|---|---|---|---|
| Non-Employee Director Equity Award | Common stock | Annual award equivalent to $100,000 (effective $105,000 from 1/1/2025) | Vests at the earlier of one year from grant or next annual meeting |
- No director meeting fees or perquisites; only cash retainers and equity awards .
- Company emphasizes independence in compensation setting and uses an independent consultant for executive/director pay benchmarking .
Other Directorships & Interlocks
| Company/Entity | Sector | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Cardinal Financial Corporation | Financials | Former Director (2014–2017) | No current interlocks disclosed |
| Nonprofits (Sibley Hospital Foundation; Conservation Nation; Pyxera Global) | Healthcare/ESG/CSR | Director/Chair/Board Member | Typical nonprofit roles; no related-party transactions disclosed |
- Related-party transactions: None with any director or executive officer since Jan 1, 2024 .
- Company “What We Don’t Do”: No reportable transactions with directors/executives; no hedging/pledging; no tax gross-ups; no re-pricing/buyouts of options .
Expertise & Qualifications
- Senior management expertise in corporate and governmental organizations (D.C. Chamber, Fannie Mae, IBM) .
- Governance/ESG leadership: Chairs Nominating & Governance Committee overseeing ESG; extensive network in key operating markets .
- Recognition: Multiple leadership awards; listed among Washingtonian’s “150 Most Powerful” .
- Diversity and leadership: Noted experience breaking leadership “glass ceilings” and DEI advocacy (author) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Director Ownership Guideline | Compliance | Pledged/Hedged |
|---|---|---|---|---|---|
| Barbara B. Lang | 41,120 | 0.03% | Lesser of 27,500 shares (effective 1/1/2025; previously 22,000) or $400,000 | Meets guideline (not listed among exceptions) | Hedging/pledging prohibited; none pledged |
Compensation Committee Analysis (Context for Lang’s committee role)
- 2024 Compensation Committee: Glenn G. Cohen (Chair), Venkatesh S. Durvasula, Barbara B. Lang .
- Independent consultant: Ferguson Partners Consulting (FPC) advised on executive/director pay and severance; assessed as independent; fees ≈$95,000; affiliated search firm engaged for CFO search (≈$200,000) with board approval .
- Say-on-Pay: 93% approval at 2024 annual meeting, indicating strong shareholder support .
Governance Assessment
- Board effectiveness: Lang’s chairmanship of Nominating & Governance with explicit ESG oversight suggests proactive governance and risk management integration .
- Independence and alignment: Independent status, >75% attendance, and compliance with tightened director ownership guidelines support investor alignment .
- Conflicts/Red Flags: No related-party transactions; hedging/pledging prohibited and none pledged; robust insider trading policy .
- Signals: Separate Chair/CEO structure; majority-independent board; strong say-on-pay outcome (93%) reinforce governance stability .
RED FLAGS: None disclosed tied to Lang. Consider standard succession planning given age (81) and Piedmont’s 15-year director term limit policy—Lang’s service began in 2015, implying eligibility through 2030 barring board exceptions .