Julie K. Griffith
About Julie K. Griffith
Julie K. Griffith (age 68) is an independent director of Royalty Management Holding Corporation (RMCO), appointed on October 31, 2023 as part of the Business Combination; she chairs the Audit Committee and serves on the Compensation and Nominating Committees . The Board has designated her an “audit committee financial expert” under SEC rules and determined she is independent under Nasdaq Global Select Market standards . Her background spans 30+ years in public policy and government affairs, including executive vice president for Strategy, Partnerships, and Outreach at the Indiana Innovation Institute; prior roles include vice president of Public Affairs at Purdue University and leadership positions at Duke Energy and Spectra Energy; she holds a BS in Political Science from Ball State University (1979) and joined the Ball State University Board of Trustees in 2022 .
Past Roles
| Organization | Role | Notes |
|---|---|---|
| Purdue University | Vice President of Public Affairs | Public policy, government affairs leadership |
| Duke Energy | Vice President, Government Affairs & Foundation Relations (and other roles) | Government and regulatory affairs; marketing and business development |
| Spectra Energy (and predecessor companies) | Various roles | Energy sector experience; regulatory/government affairs |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Indiana Innovation Institute | Executive Vice President, Strategy, Partnerships, and Outreach | Current |
| Ball State University | Board of Trustees | Joined 2022 |
Board Governance
- Independence: The Board determined Ms. Griffith is independent under Nasdaq Global Select Market standards .
- Audit Committee Financial Expert: Designated by the Board under SEC regulations .
- Attendance: In 2024, the Board met 8 times and committees met a total of 6 times; each director attended 100% of Board and applicable committee meetings .
| Committee | Role |
|---|---|
| Audit | Chair |
| Compensation | Member |
| Nominating | Member |
Risk oversight structure: Audit oversees financial risks; Compensation oversees compensation-related risks; Nominating on board composition/candidates .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $0 | $0 |
| Stock Awards ($) | $0 | $0 |
| Option Awards ($) | $0 | $9,476 (warrants) |
| Total ($) | $0 | $9,476 |
Director compensation is overseen by the Compensation Committee; the proxy shows 2024 board service compensation via warrants (accounting value in “Option Awards”) rather than cash retainers .
Performance Compensation
| Year | Award Type | Quantity | Accounting Fair Value ($) | Performance Metrics | Strike Price | Expiration | Vesting Schedule |
|---|---|---|---|---|---|---|---|
| 2024 | Stock warrants (for board service) | 25,000 | $9,476 | Not disclosed in proxy | Not disclosed | Not disclosed | Not disclosed |
Footnote notes Black-Scholes valuation and clarifies the value represents amortized book value, not actual cash value; no performance conditions are described for director awards .
Other Directorships & Interlocks
| Organization | Public Company | Role | Committees/Notes |
|---|---|---|---|
| Ball State University | No | Trustee | Academic board; governance experience |
| Indiana Innovation Institute | No | Executive VP | Strategy/partnerships; non-corporate executive role |
The proxy biography lists these affiliations; no other public company directorships for Ms. Griffith are mentioned in RMCO’s 2025 proxy .
Expertise & Qualifications
- Public policy and government affairs expertise across university and energy sectors; marketing and business development experience .
- Audit Committee Financial Expert designation confirms technical accounting/financial reporting oversight capability .
- Independence under Nasdaq standards supports impartial oversight on Audit, Compensation, and Nominating .
Equity Ownership
| Metric | Value |
|---|---|
| Shares of common stock beneficially owned (as of 12/31/2024) | 0 |
| Percent of common stock | <1% (“*%” in proxy) |
| Outstanding board service warrants (2024) | 25,000 (accounting fair value $9,476) |
| Shares outstanding (context) | 14,958,817 as of 12/31/2024 |
The beneficial ownership table shows Ms. Griffith held no RMCO common shares as of year-end 2024; warrants issued for board service are disclosed but terms (strike/expiration/vesting) are not provided .
Governance Assessment
- Strengths: Independent director; Audit Chair; SEC-designated Audit Committee Financial Expert; 100% meeting attendance in 2024—signals high engagement and capability in financial oversight .
- Compensation structure: 2024 board compensation paid via warrants with disclosed accounting fair value; no cash retainers shown—unusual mix that may reflect company-stage economics but lacks performance linkage for directors .
- Ownership alignment: 0 common shares owned as of 12/31/2024—weak “skin-in-the-game” alignment relative to standard director ownership expectations; presence of board service warrants partially offsets but terms and exercisability are undisclosed .
- Conflicts environment: Company discloses multiple related-party transactions with entities affiliated with management; Audit Committee (chaired by Griffith) is tasked to address related-party/conflict issues and oversee financial reporting integrity—mitigating, but the breadth of related-party dealings is a governance risk indicator for investor confidence .
RED FLAGS
- Zero direct common share ownership at year-end 2024 (alignment risk) .
- Company-level related-party transactions involving entities managed/owned by executives (conflict-of-interest environment; requires robust Audit oversight) .
Positive Signals
- Independent status and Audit Chair designation with financial expert credential; perfect attendance .
- Clear committee assignments across Audit, Compensation, and Nominating; defined risk oversight roles .