Holli C. Ladhani
Director at PWR
Board
About Holli C. Ladhani
Independent director of Quanta Services (PWR); age 54; director since July 2021. Former CEO and CFO in the energy sector with audit credentials; designated Audit Committee Financial Expert. Education: BA in Business Administration and MBA; prior roles at PricewaterhouseCoopers, Dynegy, Rockwater Energy Solutions, and Select Energy Services .
Past Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| Select Energy Services, Inc. | President, CEO, and Director | Nov 2017–Jan 2021 | Led a publicly traded water management and chemical solutions provider; senior executive accountability . |
| Rockwater Energy Solutions, Inc. | Chairman, President & CEO; EVP Chemical Tech; CFO | 2011–Nov 2017 (various roles; Chairman/CEO 2015–2017) | Executive leadership across finance and operations in energy services . |
| Dynegy Inc. | EVP & CFO; Chief Accounting Officer; Treasurer | 2000–2011 (CFO 2005–2011) | Public power producer CFO experience; deep finance and capital allocation . |
| PricewaterhouseCoopers LLP | Senior Manager and prior roles | 1992–2000 | Public accounting foundation; audit rigor . |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Marathon Oil Corporation | Director | Mar 2021–Nov 2024 | Prior public company directorship (ended 2024) . |
| Noble Energy, Inc. | Director | 2017–Oct 2020 | Prior E&P board role . |
| Atlantic Power Corporation | Director | 2010–2018 | Prior independent power producer board role . |
| Rosetta Resources Inc. | Director | 2013–2015 | Prior E&P board role . |
| Rice University | Board of Trustees | Current | Non-profit academic governance . |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board determined all non-CEO directors (incl. Ladhani) are independent under NYSE and company guidelines . |
| Committees | Audit Committee (member; Financial Expert); Investment Committee (member) . |
| Committee Chairs | Audit Chair: Worthing F. Jackman; Investment Chair: Vincent D. Foster (Ladhani is not a chair) . |
| 2024 Meetings | Board: 4; Audit: 8; Investment: 4; all directors attended every Board meeting and at least 75% of their committee meetings . |
| Executive Sessions | Non-management directors meet in executive session at each regular Board meeting . |
| Chair/Lead Structure | Independent non-executive Chairman (Doyle Beneby); Lead Director used only if Chairman not independent . |
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| 2024 Fees Earned (Cash) | $130,000 (Board $105,000 + Audit member $15,000 + Investment member $10,000) . |
| 2024 Stock Awards (RSUs) | $176,293 grant-date fair value; unvested RSUs outstanding at YE 2024: 622 shares . |
| 2024 Total | $306,293 . |
| Standard Annual Retainers | Board $105,000; Audit member $15,000; Investment member $10,000; Chair supplements: Audit $25,000; Investment $20,000 . |
| RSU Vesting | Director RSUs generally vest at conclusion of the director service year; certain pro-rata/accelerated vesting upon non-re-nomination or resignation at company convenience per terms . |
| Meeting Fees (extra) | Paid from 10th meeting onward: Board in-person $2,000; telephonic $1,000; Committee in-person $1,000; telephonic $500 . |
| 2025 Prospective Change | Effective May 22, 2025: Board cash retainer increases to $120,000; annual RSU award to $180,000 . |
| Director Pay Cap | Annual aggregate cap: $500,000; up to $750,000 for newly elected or Chairman/Lead Director . |
Performance Compensation
- Non-employee director compensation is not tied to performance metrics; equity is time-based RSUs with vesting described above. The company’s plan includes double-trigger vesting on change-in-control for awards granted after Aug 2023 when consideration is not solely cash; no excise tax gross-ups; clawback provisions apply to incentive compensation per plan policies .
Other Directorships & Interlocks
| Potential Interlock/Conflict | Observation |
|---|---|
| Customer/Counterparty Overlaps | Board independence disclosures flagged relationships for Baxter (WEC Energy customer) and Wyrsch (National Grid customer); no specific relationship noted for Ladhani in independence review . |
| Compensation Interlocks | Compensation Committee interlocks disclosure notes no interlocks or insider participation; Ladhani is not on the Compensation Committee . |
Expertise & Qualifications
- Audit Committee Financial Expert; deep finance/accounting, capital allocation, risk oversight, operations, senior leadership, and governance/sustainability experience .
- Education: BA in Business Administration; MBA .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial Ownership | 4,184 shares of Quanta common stock as of Apr 3, 2025; <1% of outstanding shares . |
| Unvested RSUs (YE 2024) | 622 shares unvested . |
| Ownership Guidelines | Directors must hold stock equal to 5× annual cash retainer; as of Dec 31, 2024 all directors were compliant; Ladhani exceeded guideline . |
| Hedging/Pledging | Company prohibits hedging and restricts pledging (pre-clearance required); policy applies to directors . |
Insider Trades
| Item | Detail |
|---|---|
| Section 16 Compliance | Company reports all directors/officers were compliant with Section 16(a) filing requirements during 2024; no delinquent reports . |
Governance Assessment
- Strengths: Independent director; Audit Committee Financial Expert; full Board meeting attendance; aligned incentives via RSUs and meaningful ownership exceeding guidelines; no related-party transactions or conflicts flagged; robust anti-hedging/anti-pledging and clawback policies; director pay below plan cap .
- Risks/Watch items: Prior energy-sector board roles (E&P and power) are historical; no current public company directorships listed, reducing interlock risk; continue monitoring any new external appointments for potential customer/supplier overlaps .
- Investor confidence signals: 2024 say-on-pay support over 93% reflects broad shareholder endorsement of compensation governance framework (context for overall board oversight quality) .