William Lamkin
About William A. Lamkin
William A. Lamkin, 65, is an Independent Trustee of Seven Hills Realty Trust (SEVN), serving since 2021 and currently chairing the Nominating and Governance Committee; he also sits on the Audit and Compensation Committees. He is Class I with a term expiring at the 2026 annual meeting. Lamkin’s background spans investment banking (Senior VP at ABN AMRO), partnership at Ackrell Capital (2003–2019), and prior legal practice; the Board affirms his independence under Nasdaq and SEC standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ackrell Capital LLC | Partner | 2003–2019 | Investment banking, capital raising and strategic transactions |
| ABN AMRO (Investment Banking Division) | Senior Vice President | Prior to 2003 | Finance, transactional expertise |
| Legal Practice | Attorney | Prior to investment banking | Legal/regulatory expertise |
External Roles
| Company | Role | Tenure | RMR-managed? | Notes |
|---|---|---|---|---|
| Service Properties Trust (SVC) | Independent trustee | Since 2007 | Yes | Interlock with RMR client |
| Office Properties Income Trust (OPI) | Independent trustee | Since 2019 | Yes | Interlock with RMR client |
| Tremont Mortgage Trust | Trustee | 2020–Sep 2021 | Yes | Merged with SEVN in Sep 2021 |
| Select Income REIT | Trustee | 2012–Dec 2018 | Yes | Merged into OPI subsidiary in Dec 2018 |
| Ackrell SPAC Partners I Co. | Director | 2020–2022 | No | Non-RMR public company |
Board Governance
- Committee assignments: Audit (member), Compensation (member), Nominating and Governance (Chair).
- Independence: Board determined Lamkin qualifies as independent under Nasdaq and SEC criteria and SEVN governing documents.
- Attendance: In 2024, the Board held five meetings; each Trustee attended at least 75% of Board and applicable committee meetings; all Trustees attended the prior annual meeting.
- Executive sessions: Independent Trustees meet at least twice per year in executive session, led by the Lead Independent Trustee.
| Committee | Role | Meetings in 2024 |
|---|---|---|
| Audit | Member | 8 |
| Compensation | Member | 4 |
| Nominating & Governance | Chair | 3 |
Fixed Compensation
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 70,000 | Independent Trustee retainer |
| Committee chair fee (Nominating & Governance) | 12,500 | Chair premium |
| Total cash fees (Lamkin) | 82,500 | Sum of retainer + chair fee |
| Meeting fees | — | Not disclosed; no meeting fees specified |
Performance Compensation
| Award Type | Grant Date | Shares Granted | Fair Value ($) | Vesting |
|---|---|---|---|---|
| Common Shares (annual director grant) | May 30, 2024 | 4,735 | 59,992 | Fully vested on grant date |
- Equity structure: Annual Common Share grants to Trustees; no options disclosed for Trustees; awards based on grant date closing price and fully vest at grant.
- Performance metrics tied to director compensation: None disclosed for Trustees; equity grants are not performance-conditioned.
Other Directorships & Interlocks
| Relationship | Detail |
|---|---|
| Compensation Committee interlocks | Committee comprised solely of Independent Trustees; no SEVN officers served on other entities’ committees in 2024. Lamkin serves as independent trustee of OPI and SVC (both RMR clients), alongside SEVN’s ties to RMR/Tremont. |
| Related person controls & approvals | SEVN requires disinterested Trustee approval for related person transactions and uses governance guidelines to vet such transactions. |
Expertise & Qualifications
- Financial expertise and public markets literacy; investment banking and capital raising experience.
- Legal/regulatory experience; REIT/real estate domain knowledge; risk oversight and ESG familiarity.
- Public company board experience across multiple issuers.
Equity Ownership
| Holder | Beneficial Shares | % Outstanding | Notes |
|---|---|---|---|
| William A. Lamkin | 22,831 | <1% | Includes 22,831 shares held by U/T/D 9-28-18 trust where he is trustee and beneficiary |
| Ownership Guideline | Requirement | Status |
|---|---|---|
| Director stock ownership | Retain at least 30,000 Common Shares; existing Trustees as of Oct 1, 2021 to comply by 2027 annual meeting; future Trustees within five years of initial election. | As of Mar 12, 2025, all Trustees have met or are expected to meet within applicable period. |
- Hedging policy: SEVN’s Insider Trading Policy expressly prohibits Board members and officers from engaging in hedging transactions in SEVN securities.
- Pledging policy: Not expressly disclosed; equity plan notes certificates may restrict transfers/pledges per agreement terms.
Governance Assessment
- Strengths: Independent status, multi-committee service including chairing Nominating & Governance, and documented attendance (≥75%) support engagement and board effectiveness; skill set spans finance, legal, and REIT operations.
- Alignment: Annual equity grants and share ownership guidelines create alignment; Lamkin holds 22,831 shares and is expected to meet the 30,000-share guideline within the timeframe.
- Structural conflicts (monitor): SEVN is externally managed by Tremont (RMR subsidiary), with SEVN paying base management fees of $4.3 million and incentive fees of $1.0 million in 2024; Lamkin also serves on boards of other RMR-managed REITs (OPI, SVC). The Board has reviewed related person transactions and affirmed independence, but investors should monitor interlocks and RMR relationships.
- Policies: Independent Trustee executive sessions occur at least twice annually; hedging is prohibited under Insider Trading Policy.
RED FLAGS to watch: Related party dynamics via RMR/Tremont (management agreement, shared services, director interlocks) and current shareholdings below the 30,000-share guideline until the 2027 deadline; continue to monitor any changes to committee roles or attendance trends.