Debbie Stein
Director at RBA
Board
About Debbie Stein
Independent director elected May 7, 2024; age 64; based in Calgary, AB. Former Senior Vice President, Finance, and CFO of AltaGas Ltd. (2008–2015) and CFO & Corporate Secretary of Alta Gas Utilities (2005–2008). Education: BA Economics (Hons.) from York University; Fellow of Chartered Professional Accountants (FCPA, CPA); ESG Global Competent Boards Designation; Institute of Corporate Directors designation (ICD.D). 2024 election support: 98.63% votes “For”; committee assignment: Audit Committee; shares owned nil; DSUs nil; RSUs 2,656.66 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AltaGas Ltd. | Senior Vice President, Finance & Chief Financial Officer | 2008–2015 | Led finance function in infrastructure/energy/utilities |
| Alta Gas Utilities | Chief Financial Officer & Corporate Secretary | 2005–2008 | Finance leadership |
| TC Energy Corporation | Finance/Corporate roles | Not disclosed | Prior positions (dates not disclosed) |
| Wendy’s Restaurants of Canada | Corporate roles | Not disclosed | Prior positions (dates not disclosed) |
| Paramount’s Canada’s Wonderland | Corporate roles | Not disclosed | Prior positions (dates not disclosed) |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Aecon Group Inc. | Director | Since 2019 | Audit Committee (Chair); Corporate Governance & Compensation Committee |
| NuVista Energy Ltd. | Director | Since 2016 | Audit Committee (Chair); ESG Committee |
| Trican Well Service Ltd. | Director | Since 2016 | Governance Committee (Chair); Audit Committee |
| Ontario Teachers’ Pension Plan Board | Director | Since 2023 | Audit Committee; Investment & Governance Committee |
| Parkland Corporation | Former Director | From 2016 (ended within past 5 years) | Environment, Safety & Sustainability Committee (Chair); Governance, Nominating & Ethics Committee |
Board Governance
- Committee assignments: Audit Committee member; Audit Committee held five meetings in 2024; all members independent; all financially literate; audit committee financial expert is Adam DeWitt (Chair) .
- Independence: Board determined Debbie Stein is independent under NYSE and Canadian NI 58-101/NI 52-110; no relationships requiring consideration for independence in 2024 .
- Attendance: Attended 100% of Board/committee meetings from appointment (May 8, 2024) . 2024 attendance table shows Board 6/6, Audit 2/2 for Stein .
- Election and tenure: Directors elected annually; Board not classified; Stein is among 10 nominees for 2025 .
| Director | Board Meetings | Audit Committee | Compensation Committee | Nominating & Corporate Governance |
|---|---|---|---|---|
| Debbie Stein | 6/6 | 2/2 | — | — |
Fixed Compensation
- Retainer structure (policy): Effective May 7, 2024, non-executive director annual retainer increased to $310,000; Board Chair to $410,000; Chairs of Audit/Comp/Governance receive $20,000/$15,000/$15,000 respectively; ~65% of retainer paid in RSUs (excluding committee chair fees) .
- 2024 actual compensation (partial-year from election):
| Item (2024) | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 71,559 |
| Stock Awards (RSUs/DSUs, grant-date fair value) | 202,012 |
| All Other Compensation (dividend equivalents, tax advice reimbursement) | 2,243 |
| Total | 275,814 |
Notes:
- Company switched director equity from DSUs to RSUs effective May 7, 2024; DSUs previously comprised 55% of retainers (2021–early 2024) .
- Options: Company policy prohibits granting stock options to non-executive directors .
Performance Compensation
Directors’ RSUs are time-based (not performance-based); they vest on governance milestones and include dividend equivalents.
| Grant Date | Instrument | Fair Value ($) | Units (#) | Vesting Schedule | Dividend Equivalents / Deferral |
|---|---|---|---|---|---|
| May 15, 2024 | RSU (Annual Award) | 202,012 | 2,657 | Earlier of one-year from grant or day prior to next AGM; subject to continued service | Dividend equivalents paid to extent RSUs vest; director may elect to defer receipt until completion of Board service |
Other Directorships & Interlocks
- Multiple audit/governance chair roles at Canadian public companies (Aecon, NuVista, Trican) and oversight roles at Ontario Teachers’ Pension Plan Board, suggesting deep financial oversight expertise .
- Conflicts: Proxy states no director or nominee had any material interest in transactions since Jan 1, 2024, and no family relationships; no related-party transactions requiring review were reported for 2024 .
Expertise & Qualifications
- Financial oversight: Extensive CFO experience; determined financially literate; serves on multiple audit committees; ESG governance exposure .
- Credentials: FCPA, CPA; ICD.D; ESG Global Competent Boards; BA Economics (Hons.) York University .
- Voting signal: 98.63% “For” in 2024, indicating strong shareholder support at election .
Equity Ownership
- Ownership guidelines: Directors must hold Common Shares and/or DSUs valued at ≥ 5x cash portion of annual fixed retainer; unvested RSUs don’t count; directors have 5 years from board entry to comply .
- Status (as of March 20, 2025):
| Director | Guideline Multiple | Cash Retainer ($) | Required Ownership ($) | Common Shares (#) | DSUs (#) | Total Ownership Value ($) | Meets Requirement |
|---|---|---|---|---|---|---|---|
| Debbie Stein | 5x | 110,000 | 550,000 | — | — | — | N/A (within 5-year compliance window) |
- RSUs/DSUs held (as of December 31, 2024): RSUs 2,657; DSUs — .
- Hedging/pledging: Prohibited for all insiders (directors, officers, employees); short sales and derivatives prohibited under Insider Trading Policy .
Governance Assessment
- Strengths: Independent audit committee member with CFO background and multi-issuer audit chair experience; perfect attendance from appointment; strong shareholder support at election; robust anti-hedging/anti-pledging policy; transparent director ownership guidelines with five-year runway .
- Areas to monitor: No direct Common Share/DSU holdings yet reported as of March 20, 2025; reliance on time-based RSUs for director equity (no performance conditions) — watch progress toward 5x ownership guideline over the five-year horizon .
- Conflicts/related parties: None disclosed in 2024; no family relationships; Code of Conduct processes in place for conflict monitoring and whistleblowing .