Alan Buckwalter
SERVICE CORP INTERNATIONALAbout Alan R. Buckwalter, III
Alan R. Buckwalter, III is an independent director of Service Corporation International (SCI), serving since 2003. He is 78 years old and the former Chairman and CEO of Chase Bank of Texas, with deep corporate finance and banking expertise; he holds a degree from Fairleigh Dickinson University . The proxy highlights his strengths in financial and investment management, strategy, and risk oversight developed through senior executive roles and prior public company board service .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chase Bank of Texas | Chairman & CEO | 1998–2003 | Led bank operations; brings finance and investment insights to SCI’s Board |
| Texas Commerce Bank | President | 1990–1998 | Senior leadership in corporate finance, strategy and risk management |
| Chemical Bank | Corporate Division roles | 1970–1990 | Corporate banking experience across finance functions |
| Federal Reserve Bank of Dallas (Houston Branch) | Board of Directors (Former) | Not disclosed | Monetary policy and governance exposure |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Texas Medical Center | Board Member | Not disclosed | Healthcare governance exposure |
| Central Houston, Inc. | Chairman Emeritus & Board Member | Not disclosed | Urban development and civic leadership |
Board Governance
- Independence: Confirmed independent; 9 of 10 directors were independent in 2024 (expected to be 9 of 10 post-2025 meeting). SCI’s Audit, Compensation, and Nominating & Corporate Governance Committees are composed entirely of independent directors .
- Committee assignments: Investment Committee (Member); Nominating & Corporate Governance Committee (Member); Executive Committee (Member) .
- Committee chairs: Not a chair; Investment is chaired by Jakki L. Haussler; NCGC by Marcus A. Watts; Executive by Thomas L. Ryan .
- Attendance: Board held 6 meetings and committees held 20 meetings in 2024, with 97% combined attendance; each committee had at least 94% attendance. Investment Committee met 4 times (100% attendance); NCGC met 4 times (100% attendance); Executive Committee did not meet in 2024 .
- Executive sessions: Non-management director executive sessions occur at the end of each regular Board meeting, chaired by the Lead Independent Director .
Fixed Compensation
| Year | Role | Cash Retainer | Chair/Lead Fees | Equity Grant Target | Equity Award Reported | Total Director Comp |
|---|---|---|---|---|---|---|
| 2024 | Non-employee Director | $92,500 | None (not a chair) | $180,000 (increased to $190,000 effective Nov 15, 2024) | $180,052 | $272,552 |
- Board retainer: Increased $10,000 to $100,000 effective Nov 15, 2024; directors received $92,500 for 2024 given timing .
- Chair retainers: Lead Independent Director $30,000; Audit Chair $25,000; Compensation Chair $20,000; Investment Chair $15,000; NCGC Chair $15,000 .
- Equity: Annual grants targeted at $180,000 per director (raised to $190,000 effective Nov 15, 2024); Buckwalter’s stock awards for 2024 totaled $180,052 .
Performance Compensation
SCI’s director compensation includes annual equity grants (stock awards). While directors do not have performance-based cash incentives, SCI’s broader pay-for-performance program used for executives informs the Board’s oversight of compensation quality and alignment:
| Program | Metric | Description/Use |
|---|---|---|
| Annual Incentive (Executives) | Normalized EPS | Drives near-term profitability aligned with shareholder value |
| Annual Incentive (Executives) | Normalized Free Cash Flow per Share | Links to capital allocation discipline and value creation |
| Annual Incentive (Executives) | Comparable Preneed Sales Production | Same-store preneed growth across funeral and cemetery |
| Annual Incentive Modifier | Google Star Ratings | Customer satisfaction ESG modifier enhancing client experience |
| Long-Term Incentive (Executives) | TSR vs S&P MidCap 400 | Multi-year performance relative to market peers |
| Long-Term Modifier | Normalized ROE Floor | Capital efficiency threshold tied to S&P MidCap 400 |
- Governance signals: Anti-hedging and anti-pledging policies; no tax gross-ups; no option repricing; single-trigger vesting removed for equity awards granted from 2022 onward; clawback policy adopted in 2023 .
Other Directorships & Interlocks
| Status | Companies | Notes |
|---|---|---|
| Current public boards | None | As disclosed in director nominee summary |
| Past public boards | Freeport-McMoRan, Inc. (2013–2015); Plains Exploration and Production (2003–2013) | Plains later acquired by Freeport-McMoRan |
Expertise & Qualifications
- Core credentials: Extensive corporate finance and banking background; strategic and risk management insight; investment management experience; governance experience from prior public boards .
- Education: Fairleigh Dickinson University .
- Profile summary: Strong resource for strategy, risk, and investment oversight; deep understanding of SCI’s industry through long tenure .
Equity Ownership
| Holder | Shares Owned | Options Exercisable ≤60 Days | Total Beneficial | % of Class |
|---|---|---|---|---|
| Alan R. Buckwalter | 37,652 | — | 37,652 | <1% |
- Ownership guidelines: Directors encouraged to hold at least $500,000 in SCI stock value; 2025 minimum shareholding equivalent is 6,265 shares (at $79.82 closing price on Dec 31, 2024). 100% of directors exceeded guideline levels as of March 11, 2025 .
- Hedging/pledging: Prohibited for directors and officers .
Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Shares Acquired/Granted | Post-Transaction Ownership | SEC Filing URL |
|---|---|---|---|---|---|
| 2025-05-08 | 2025-05-06 | Award (A) | 2,514 | 40,166 | https://www.sec.gov/Archives/edgar/data/89089/000162828025023694/0001628280-25-023694-index.htm |
| 2024-05-09 | 2024-05-07 | Award (A) | 2,642 | 37,652 | https://www.sec.gov/Archives/edgar/data/89089/000008908924000115/0000089089-24-000115-index.htm |
| 2023-05-04 | 2023-05-02 | Award (A) | 2,684 | 35,010 | https://www.sec.gov/Archives/edgar/data/89089/000120919123027319/0001209191-23-027319-index.htm |
Source: Insider-trades skill (Form 4 data; securitiesOwned reflects post-transaction position) .
Governance Assessment
- Strengths: Independent status; multi-committee service (Investment, NCGC, Executive) with strong committee attendance across the Board; deep finance/risk expertise; meaningful SCI share ownership; robust governance framework (proxy access, independent committees, strengthened Lead Independent Director role, anti-hedging/anti-pledging, clawback, removal of single-trigger vesting) .
- Compensation alignment: Modest cash retainer and annual stock grant consistent with market benchmarks; no meeting fees disclosed; chair fees only for chairs (not applicable to Buckwalter in 2024) .
- Shareholder signals: 2024 say-on-pay approval at 83.2%; extensive shareholder outreach and updates to governance charters including board service limits .
- RED FLAGS and mitigants:
- Related-party exposure: SCI’s subsidiary paid $276,696 to Alan Buckwalter’s son-in-law (employee compensation); reviewed and approved under SCI’s related-person transaction policy by the NCGC or its Chair—mitigating process in place .
- No disclosed pledging/hedging and no tax gross-ups; option repricing prohibited, reducing misalignment risk .
- Overall view: Buckwalter’s long-tenured financial expertise and committee participation support effective oversight of investment/trusts and governance processes; the family-related employment transaction is a monitoring point but handled under formal policy review and approval .
Note: Director-specific compensation and ownership data are as disclosed in SCI’s 2025 definitive proxy statement; all committee and governance references reflect 2024 activity unless otherwise noted .