Cheryl W. Grisé
PULTEGROUP INC/MI/About Cheryl W. Grisé
Independent director at PulteGroup since 2008 (age 72). Former Executive Vice President of Northeast Utilities (now Eversource Energy), with prior roles as CEO of principal operating subsidiaries, President of the Utility Group, and earlier service as Senior Vice President, Secretary and General Counsel—bringing deep legal, governance, human capital, and regulated-industry operating experience. Currently chairs PulteGroup’s Compensation and Management Development Committee and serves on the Audit Committee; previously Lead Director at MetLife.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northeast Utilities (Eversource Energy) | Executive Vice President | Dec 2005 – Jul 2007 | Former CEO of principal operating subs (Sep 2002–Jan 2007); President, Utility Group (May 2001–Jan 2007); SVP, Secretary & General Counsel (1998–2001) |
| Pall Corporation | Director | 2007 – 2015 | Public company board service |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| MetLife, Inc. | Director (Lead Director previously) | 2004 – present | Leadership and governance experience |
| Dollar Tree, Inc. | Director; Chair, Compensation Committee | 2022 – present | Compensation oversight expertise |
| ICF International, Inc. | Director | 2012 – 2024 | Ended 2024 |
Board Governance
- Committee assignments at PHM: Chair, Compensation & Management Development; Member, Audit (effective May 2024 refresh) . The Board determined she is independent under NYSE and company standards; both the Compensation and Audit Committees are composed entirely of independent directors .
- Attendance and engagement: Board held six meetings in 2024; each director attended at least 90% of Board and committee meetings; executive sessions of non-management directors held regularly and at least annually .
- Board leadership and practices: Independent Non-Executive Chairman presides over executive sessions; robust governance guidelines include prohibition on hedging/pledging and annual evaluations; retirement policy: no director stands for election after age 75 (Grisé is 72) .
- Shareholder support: Re-elected with strong support—2025 vote “For” 156,285,465 vs 9,162,272 “Against”; 2024 vote “For” 163,299,286 vs 11,606,952 “Against” .
Fixed Compensation (Director)
| Component | 2024 PHM Program | Cheryl W. Grisé (2024 actual) |
|---|---|---|
| Annual cash retainer | $95,000 cash | $111,346 (includes pro‑rated Chair fee from May 2024) |
| Committee Chair retainers | $25,000 (Comp, Nominating, Finance); $30,000 (Audit) | Included in cash above (Comp Chair pro‑rated) |
| Non-Exec Chair retainer | $75,000 cash | N/A |
| Annual equity retainer | $180,000 in shares (granted May 6, 2024 as 1,528 shares) | $180,075 (grant-date fair value) |
| Deferrals | Cash/equity deferral available; deferred cash credited at 5Y UST + 2%; DSUs settle in shares at departure | Elects deferral; held 103,771 deferred share units as of 12/31/2024 |
Notes: 2024 equity award comprised fully vested deferred share units if deferred; no options are granted to directors under this program .
Performance Compensation
- Director equity is not performance-conditioned; annual equity retainer is granted as common shares (or DSUs if deferred). No director-specific performance metrics or options disclosed .
Other Directorships & Interlocks
| Company | Relationship to PHM (customer/supplier/competitor) | Potential Interlock/Conflict |
|---|---|---|
| MetLife, Inc. | None disclosed | None disclosed |
| Dollar Tree, Inc. | None disclosed | None disclosed |
| ICF International, Inc. (to 2024) | None disclosed | None disclosed |
| Pall Corporation (2007–2015) | None disclosed | None disclosed |
Related-party transactions: PHM disclosed no interested transactions involving Ms. Grisé since Jan 1, 2024; related items involved another executive (Koart) and employment of Chairman’s son-in-law, with safeguards; “no other interested transactions” .
Expertise & Qualifications
- Core strengths: public company leadership and board governance; compensation oversight; regulated utility operations; legal/general counsel experience; human capital management .
- Committee leadership: Chairs PHM Compensation & Management Development Committee; oversees CEO/NEO pay frameworks, clawbacks, succession planning, and use of independent consultant (Semler Brossy, assessed as independent; provided no other services in 2024) .
Equity Ownership (Skin-in-the-Game)
| Metric | Amount |
|---|---|
| Total beneficial ownership | 111,291 shares (includes 100,388 deferred share units) |
| DSUs (as of 12/31/2024) | 103,771 DSUs (proxy table point-in-time); beneficial ownership note references 100,388 DSUs for distribution within 60 days after departure (timing differences reflect measurement dates) |
| Ownership guidelines | Directors must hold ≥5x annual cash retainer within 5 years; all continuing non-employee directors met or are on track as of record date |
| Hedging/Pledging | Prohibited for directors and employees |
Interpretation: High DSU balance signals long-term alignment and tax-efficient deferral; prohibition on pledging/hedging mitigates alignment risk .
Governance Assessment
Strengths and investor signals
- Independent, seasoned committee leadership: Comp Chair and Audit member; both committees independent; engages independent consultant with no conflicts .
- Strong shareholder mandate and attendance: High re-election support in 2024 and 2025; >90% attendance .
- Alignment: Significant DSU holdings; robust ownership guidelines; anti-hedging/pledging policy .
- Sound related-party posture: No interested transactions involving Grisé; limited related-party items elsewhere are controlled and disclosed .
Watch items (not red flags)
- Tenure/refreshment horizon: At age 72, she approaches the Board’s age-75 limit; useful to plan committee succession to preserve compensation oversight continuity .
- External workload: Concurrent PHM Comp Chair and Dollar Tree Comp Chair; within PHM’s overboarding limits (≤4 public boards) but underscores importance of monitoring time commitments during peak cycles .
RED FLAGS
- None identified specific to Ms. Grisé: no pledging/hedging, no related-party transactions, no attendance issues, no disclosed investigations, and no option repricings or tax gross-ups at the director level .
Appendix: Committee context and say-on-pay outcomes
- Compensation Committee (2024): Met 4 times; scope includes CEO/NEO pay, succession, clawbacks, HCM oversight; current members: Cheryl W. Grisé (Chair), J. Phillip Holloman, John R. Peshkin, Lila Snyder; all independent .
- Say-on-Pay support: Approx. 92% approval average over last five years; 2025 votes 152,970,945 For vs 12,384,799 Against; 2024 votes 161,170,570 For vs 13,666,691 Against—supportive backdrop for Comp Chair .