Heather Redman
Director at PPL
Board
About Heather B. Redman
Independent director at PPL since 2021; age 60. Redman is Co‑Founder and Managing Partner of Flying Fish Partners with prior senior operating roles in clean energy development (Summit Power Group) and technology/media (Getty Images), and she holds NACD Directorship Certification and NACD CERT in Cybersecurity Oversight—credentials directly relevant to PPL’s digital grid, AI, and cyber oversight agenda . She is independent under NYSE standards per the Board’s 2025 determination and serves on the Audit and Finance Committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Flying Fish Partners | Co‑Founder & Managing Partner | 2016–present | VC focus on AI/ML, including energy applications; technology and innovation oversight relevance for PPL . |
| Indix Corporation | VP, Business Operations | 2014–2017 | Big data/AI startup; operating experience in data platforms . |
| Summit Power Group | Principal & SVP | 2001–2014 | Clean energy project development; strengths in disruptive cleantech for renewable energy/sustainability . |
| Getty Images, Atom Entertainment, PhotoDisc | Executive leadership (incl. General Counsel at Getty Images) | Various | Legal, operational, and financial acumen for board oversight . |
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| Washington State Investment Board | Board member | Public institutional investor (non-public company) | External fiduciary role; network reach; no PPL-related transactions disclosed . |
| Coldstream Holdings, Inc. | Board member | Private company | Private board; no related-party transactions with PPL disclosed . |
| The Hawthorn Club (North America) | Advisory Board member | Nonprofit network | Energy industry executive network . |
| Other current public-company boards | None disclosed | — | PPL proxy lists public company boards for other directors; none listed for Redman . |
Board Governance
- Current PPL Committees: Audit Committee; Finance Committee (member; not chair) .
- Audit Committee Financial Expert: The Board designated each Audit Committee member as an “audit committee financial expert,” covering Redman as a sitting member .
- Independence: Board determined nine non‑employee directors, including Redman, are independent (no facts/circumstances impairing independence) .
- Attendance/Engagement: Each director attended at least 75% of 2024 Board/committee meetings; average director attendance was 99%; all directors attended the 2024 annual meeting .
- Board Leadership: Independent Chair in place; independent directors meet in executive session during each regular Board meeting .
- Outside Board Limits: Max three other public company boards (or one if a public‑company CEO); audit committee members limited to two other audit committees, supporting workload/quality control .
- Anti‑Hedging/Pledging: Insider trading policy includes anti‑hedging and anti‑pledging; no material related‑party transactions with directors .
Fixed Compensation
| Component | 2024 Amount | Structure / Notes |
|---|---|---|
| Annual cash retainer | $125,000 | Payable quarterly; Redman voluntarily deferred $125,000 of her retainer into a deferred cash account under the DDCP . |
| Committee chair fees | $0 | Not a chair; 2024 chair fees were $25,000 (Audit) and $20,000 (other committees) for those serving . |
| Equity (Deferred Stock Units) | $160,000 | Mandatorily deferred portion of retainer granted quarterly as fully vested DSUs; dividends accrue as additional DSUs and are paid after service ends . |
| All other compensation | $0 | No matching gifts or other amounts reported for Redman in 2024 . |
| Total 2024 director compensation | $285,000 | Cash + DSUs; paid/credited under DDCP . |
Additional director pay design:
- Directors may defer fees into a deferred cash account (credited to plan investment options; 2024 fund returns ranged from 1.23% to 37.32%) or into deferred stock accounts; distributions generally post‑service over up to 10 years .
- Director equity ownership guideline: 5x annual cash retainer within five years; Redman (under five years service) is on track to meet requirement .
Performance Compensation
- PPL directors do not receive performance‑based compensation (no bonus, options, PSUs, or performance metrics for directors). Annual equity is DSUs with time‑based deferral; no performance conditions are applied .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public‑company directorships | None disclosed for Redman in PPL’s proxy (other directors’ public boards are listed explicitly) . |
| Potential interlocks | Venture investor in AI/ML (including energy applications) via Flying Fish Partners; no related‑party transactions with PPL disclosed . |
| Policy controls | Related‑party transactions require prior GNSC review/approval; 2024–2025 disclosures show no director related‑party transactions . |
Expertise & Qualifications
- Technology, Digitalization & Innovation; Cybersecurity (NACD CERT); Risk Management; Capital Markets/Finance; Environmental & Sustainability—skill set disclosed in nominee matrix and biography .
- Clean energy development track record (Summit Power Group) and executive legal/operating experience (Getty Images, other tech/media) provide oversight strength for utility digital transformation and grid modernization .
- Board‑level cybersecurity oversight is a full Board responsibility at PPL; Redman’s credentials align with this remit .
Equity Ownership
| Item | Amount | As‑of / Notes |
|---|---|---|
| Beneficial ownership (shares/units) | 20,622 | As of Mar 3, 2025; consists of stock units in director deferred stock account under DDCP . |
| DSUs held (aggregate units) | 19,148 | As of Dec 31, 2024; excludes Q1 2025 accruals . |
| Ownership guideline | 5x annual cash retainer within five years; Redman on track | Director guideline and status disclosed; under 5‑year horizon . |
| Hedging/Pledging | Prohibited by policy | Insider trading policy includes anti‑hedging and anti‑pledging . |
| Section 16 compliance | No director delinquencies reported | 2024 delinquencies noted for certain executives; not for directors . |
Governance Assessment
- Strengths: Independent director with directly relevant technology/AI and cybersecurity oversight credentials; Audit and Finance membership plus “audit committee financial expert” designation support financial reporting and risk oversight quality; strong attendance norms and independent chair structure enhance board effectiveness .
- Alignment: Director pay uses a balanced cash/stock retainer with mandatory DSUs, long deferral, dividend equivalents, and robust 5x ownership guideline—promoting alignment without short‑term risk taking; independent compensation consultant (FW Cook) engaged; no consultant conflicts .
- Conflicts/Red Flags: No material related‑party transactions; anti‑hedging/pledging policy; outside board/audit limits mitigate overboarding; no individual attendance concerns disclosed. Overall low conflict risk and positive governance signals for investor confidence .
RED FLAGS: None identified in proxy disclosures specific to Redman—no related‑party transactions, no pledging, no attendance issues, no public interlocks that pose competitive conflicts .