Jeannine Lane
RESIDEO TECHNOLOGIESAbout Jeannine Lane
Jeannine Lane is Executive Vice President, General Counsel and Corporate Secretary at Resideo Technologies (REZI). She is 64 and has served as a Resideo executive officer since 2018, with prior senior legal leadership roles across Honeywell divisions and Prestone; she holds a BA in English and Political Science (SUNY Albany) and a JD (Albany Law School) . Company performance during her tenure includes 2024 net revenue of $6.8B, up 8% year-over-year, with gross margin expansion to 28.1% and record $444M cash from operations ; Resideo’s TSR (value of a $100 investment since 2019) reached $193 by year-end 2024, outperforming the S&P 600 at $138 . EBITDA improved versus 2023, with 2024 EBITDA of $746M* and EBITDA margin of 11.0%* (from 10.9%* in 2023) (values retrieved from S&P Global).
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Honeywell Homes | Vice President and General Counsel | 2018 | Led legal through spin-related operations, supporting connected home portfolio . |
| Honeywell Security and Fire | Vice President and General Counsel | 2015–2017 | Oversaw legal across integrated security/fire platform post realignment . |
| Honeywell Fire Business & Honeywell Safety Business | Vice President and General Counsel | 2014–2015 | Managed legal for product safety and fire businesses during portfolio adjustments . |
| Honeywell Life Safety Business | Vice President and General Counsel | 2013–2014 | Drove compliance and product/regulatory strategy in life safety . |
| Honeywell Security | Vice President and General Counsel | 2004–2013 | Supported global security products, compliance and IP strategy . |
| Prestone Products Corporation | Vice President and General Counsel | Prior to 2004 | Led legal for consumer automotive products . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external public company directorships disclosed . |
Fixed Compensation
- Stock ownership guidelines for executive officers: 3x base salary; all executive officers were in compliance as of Dec 31, 2024 .
- No hedging or pledging permitted under company policy .
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary (SEC-reported) ($) | 525,711 | 546,692 | 563,131 |
| Stock Awards ($) | 1,626,863 | 1,671,680 | 1,509,087 |
| Non-Equity Incentive Plan Compensation ($) | 321,000 | 511,328 | 586,671 |
| Pension/Deferred Comp Change ($) | 152,028 | 318,764 | 261,161 |
| All Other Compensation ($) | 24,535 | 30,546 | 52,545 |
| Total Compensation ($) | 2,650,137 | 3,079,010 | 2,972,595 |
| Base Salary Rate | 2023 | 2024 |
|---|---|---|
| Annual Base Salary ($) | 551,000 | 567,600 |
Performance Compensation
- Annual Incentive Plan (AIP) metrics: Constant-currency Net Revenue (50%), Operating Income Margin (50%); exclusions for unforeseen items and post-acquisition integration adjustments .
- 2025 PSU design: 50% rTSR and 50% three-year average ROIC; rTSR payout capped at target if absolute TSR is negative .
| Metric (Company-level) | Weight | Threshold | Goal | Maximum | Actual | Payout % |
|---|---|---|---|---|---|---|
| Net Revenue (Constant Currency) ($M) | 50% | 5,886 | 6,540 | 7,194 | 6,596 | 109% |
| Operating Income Margin (%) | 50% | 7.5 | 8.8 | 10.1 | 9.5 | 150% |
| Total Company AIP Payout | — | — | — | — | — | 129.2% |
| Individual AIP Outcome (Lane) | Target Bonus % | Financial Performance Payout % | Annual Incentive Cash Award ($) |
|---|---|---|---|
| FY 2024 | 80% | 129.2% | 586,671 |
| FY 2024 LTI Awards (Lane) | Grant Date | Instrument | Shares/Target (#) | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|---|
| Annual RSUs | 02/05/2024 | RSU | 38,212 | 638,236 | 1/3 on 02/05/2025, 02/05/2026, 02/05/2027 |
| Annual PSUs (Target) | 02/05/2024 | PSU (rTSR vs S&P 600) | 38,212 | 870,851 (target) | Earn-out over 01/01/2024–12/31/2026; pays in 02/2027 |
| Prior RSUs | 02/14/2023 | RSU | 22,770 | — | Vest on 02/14/2025 and 02/14/2026 |
Equity Ownership & Alignment
- Stock ownership guideline compliance: All executive officers met minimums as of Dec 31, 2024 .
- Hedging/pledging prohibited; margin accounts prohibited .
| Ownership Detail (as of Apr 8, 2025) | Amount |
|---|---|
| Shares of Common Stock (direct/indirect) | 83,731 |
| Rights to acquire (options exercisable/RSUs vesting ≤60 days) | 111,507 |
| Total Beneficial Ownership (SEC definition) | 195,238 |
| % of Shares Outstanding | <1% (Company disclosure) |
| Unvested RSUs/PSUs (12/31/2024) | 142,244 units |
| Options Exercisable (12/31/2024) | 111,507 |
Employment Terms
- Severance Plan: double-trigger required for CIC benefits; severance conditioned on non-compete and non-solicit compliance; clawback policy compliant with NYSE standards .
- No tax gross-ups on severance/CIC payments (policy) .
| Scenario | Cash Severance (Base) | AIP (Year of Termination) | Equity Acceleration (Intrinsic Value at 12/31/2024) | Benefits Continuation |
|---|---|---|---|---|
| Termination by Company Without Cause | 851,400 | — | — | 16,654 |
| Death | — | — | 3,893,767 | — |
| Disability | — | — | 3,893,767 | — |
| CIC – No Termination | — | — | — | — |
| CIC + Termination (double-trigger) | 1,135,200 | 908,160 | 3,893,767 | 22,206 |
Additional terms:
- Equity treatment: pro-rata vesting upon involuntary termination; full vesting upon CIC + termination (PSUs vest at target if CIC during performance period) .
- Non-compete/non-solicit breaches cause forfeiture/recoupment of equity .
- Insider trading policy in place; Section 16 compliance noted (2024 late filings were for Lazar and Carlet; no late filings for Lane) .
Performance & Track Record
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 6,370,000,000 [GetFinancials]* | 6,242,000,000 [GetFinancials]* | 6,761,000,000 [GetFinancials]* |
| EBITDA ($) | 779,000,000* | 678,000,000* | 746,000,000* |
| EBITDA Margin (%) | 12.23%* | 10.86%* | 11.03%* |
| Net Income ($) | 283,000,000 [GetFinancials]* | 210,000,000 [GetFinancials]* | 116,000,000 [GetFinancials]* |
Values retrieved from S&P Global.
| Shareholder Return Since 2019 (Value of $100) | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Resideo TSR ($) | 178 | 218 | 138 | 158 | 193 |
| S&P 600 TSR ($) | 110 | 137 | 113 | 129 | 138 |
2024 Company highlights:
- Net revenue $6.8B (+8% YoY), gross margin 28.1% (+90bps), Products & Solutions gross margin 41.0%; cash from operations $444M (record), FCF conversion >200% of net income .
- AIP financial performance payout 129.2% based on beating Net Revenue and Operating Income Margin goals .
Investment Implications
- Alignment and pay-for-performance: Lane’s incentive mix is heavily at-risk and equity-based (50% PSUs, 50% RSUs for non-CEO NEOs), with PSUs tied to rTSR and, beginning in 2025, 50% ROIC—supporting shareholder value orientation and financial discipline . Annual bonus metrics (Net Revenue and Operating Income Margin) were met/exceeded in 2024, resulting in a 129.2% payout .
- Retention and potential selling pressure: Scheduled RSU vesting in 2025–2027 and PSU evaluative vesting in 2027 may create routine tax-withholding related share dispositions; however, hedging and pledging prohibitions and ownership guideline compliance mitigate misalignment risk .
- Severance/CIC economics: Double-trigger CIC protection with 24 months base and 2x target bonus, plus full equity acceleration, implies moderate transition cost; clawback and non-compete provisions reduce adverse incentive risk .
- Governance and signals: No Section 16 delinquency disclosed for Lane in 2024, and strict insider trading/hedging policies should dampen adverse trading signals; TSR outperformance versus S&P 600 over the long lookback supports value creation during her tenure .