George Ball
PARSONSAbout George L. Ball
George L. Ball, age 66, is a Class III director at Parsons (PSN) since 2022 after serving as the company’s Chief Financial Officer from 2008–2022; he joined Parsons in 1995 and led its IPO in 2019. He holds NACD Directorship (NACD.DC) and cyber certifications and a bachelor’s degree in accounting from Drexel University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Parsons Corporation | Chief Financial Officer | 2008–2022 | Led company transformation and 2019 IPO |
| Parsons Corporation | Various financial and operational positions | 1995–2008 | Global portfolio responsibilities |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BrandSafway | Director | Current | Not disclosed in proxy |
| Cornerstone Building Brands, Inc. | Director | Prior | Not disclosed in proxy |
| Wells Fargo Real Estate Investment Corporation | Director | Prior | Not disclosed in proxy |
| Ronald McDonald House Charities of Southern California | Director | Prior | Not disclosed in proxy |
| Los Angeles County Arboretum Foundation (Board of Trustees) | Trustee | Prior | Not disclosed in proxy |
Board Governance
- Classification and tenure: Class III director; up for re‑election at the April 15, 2025 annual meeting .
- Independence: Not listed among the Board’s nine independent directors under NYSE standards; implies non‑independent status (nine of eleven are independent; Ball not named in independent list) .
- Committee assignments: Not a member of the Audit & Risk, Compensation & Management Development, or Corporate Governance & Responsibility committees in 2024 .
- Attendance: All incumbent directors attended at least 90% of Board and committee meetings in 2024; Board held eight meetings .
- Lead Independent Director: Steven F. Leer; the Board holds regular executive sessions of non‑management directors .
- Board performance review: Independent assessment by The Miles Group in 2024 covering skills, independence, and effectiveness .
Fixed Compensation
| Component (FY2024) | Amount |
|---|---|
| Fees Earned or Paid in Cash | $100,000 |
| Stock Awards (time‑based RSUs grant-date fair value) | $172,010 |
| All Other Compensation (charitable matching) | $5,000 |
| Total | $277,010 |
- Policy context (non‑employee directors, FY2024): Annual Board retainer $100,000; committee chair/member retainers as set forth in policy .
- 2025 changes approved: Board retainer increased to $110,000; Audit Chair to $25,000; LTI to $180,000 with immediate vesting at grant .
Performance Compensation
- Directors receive time‑based RSUs; no performance‑conditioned metrics (no PSU/rTSR for directors’ annual grants) .
Other Directorships & Interlocks
| Company | Relationship to PSN (customer/supplier/interlock) |
|---|---|
| BrandSafway | Not disclosed in proxy |
| Cornerstone Building Brands, Inc. | Not disclosed in proxy |
| Wells Fargo Real Estate Investment Corporation | Not disclosed in proxy |
Expertise & Qualifications
- Financial leadership: 14 years as CFO; extensive capital markets, transformation, and IPO experience .
- Governance credentials: NACD Directorship and cyber certifications .
- Education: B.S. in Accounting, Drexel University .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership | 343,661 shares |
| Ownership as % of outstanding | ~0.32% (343,661 / 106,777,126) |
| Shares held via family trust | 205,000 (shared voting/investment/dispositive power) |
| PSUs scheduled to vest within 60 days (as of Feb 14, 2025) | 8,992 |
| Unvested Director RSUs (as of Dec 31, 2024) | 2,179 |
| Anti‑hedging / anti‑pledging | Prohibited for directors under Insider Trading Policy |
| Ownership guidelines | 5x annual retainer; evaluated annually |
| Compliance status | Company states non‑employee directors are in compliance or making required progress |
| 10b5‑1 trading plans | Required prior to any director share sales |
Insider Trades
| Item | Detail |
|---|---|
| Section 16 compliance note (2023) | Company reported certain delayed Form 4 filings due to RSU tax withholding events, including nine withholding events for George L. Ball; underlying RSUs had been previously reported |
Conflicts and Related‑Party Exposure
- Related party transactions: Proxy discloses ESOP, joint ventures, registration rights, and indemnification policies; no Ball‑specific related‑party transactions disclosed .
- Policies: Written related‑person transaction policy; Audit & Risk Committee reviews terms vs. arm’s‑length standards .
Say‑on‑Pay & Shareholder Feedback (Context)
- 2024 say‑on‑pay support: Over 98% approval; Compensation Committee maintained stockholder‑aligned program design for 2025 .
Governance Assessment
-
Positives:
- Deep financial and corporate development experience (former CFO; IPO leadership), beneficial for oversight of capital allocation and strategy .
- Strong ownership alignment with meaningful beneficial holdings; director ownership policy at 5x retainer; anti‑hedging/pledging and 10b5‑1 plan requirements reinforce alignment and trading discipline .
- Board process rigor: independent third‑party performance assessment; regular executive sessions; high attendance .
- Broad external board exposure offers network and perspective (BrandSafway; prior boards) .
-
Considerations / RED FLAGS:
- Independence: Not classified as independent under NYSE rules, which can be a perceived governance risk given past executive role; mitigated by fully independent key committees .
- Committee participation: No standing committee membership in 2024, limiting direct committee‑level oversight involvement .
- Section 16 administrative lapses tied to RSU tax withholding events (company‑reported); while not economic trades, they reflect process/timeliness risks that should be monitored .
-
Net view:
- Ball’s extensive finance background and substantial equity stake provide alignment, but non‑independent status and lack of committee roles warrant attention from investors focused on board independence and effectiveness. High board attendance and robust governance policies are supportive signals .