Peter Arkley
About Peter Arkley
Peter Arkley, age 70, has served as an independent director of Tutor Perini Corporation since 2000. He is President, National Brokerage at Alliant Insurance Services and previously led Alliant Retail Property & Casualty and Alliant Specialty; earlier he was Chairman and CEO of Aon Construction Services Group. He holds a B.S. in Finance from Wagner College and brings deep insurance, surety, and risk management expertise tailored to construction services .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alliant Insurance Services, Inc. | President, National Brokerage | Apr 2024–present | Insurance/surety leadership; national brokerage oversight |
| Alliant Insurance Services, Inc. | President, Retail Property & Casualty | Mar 2022–Apr 2024 | Oversaw nationwide footprint and 15 specialty operations |
| Alliant Insurance Services, Inc. | President, Specialty Group | Apr 2017–Mar 2022 | Led specialty lines, construction insurance/sureties |
| Alliant Insurance Services, Inc. | Sr. Managing Director, Construction Services | Jun 2011–Apr 2017 | Construction-focused insurance/surety advisory |
| Aon Construction Services Group | Chairman & CEO | 1999–2011 | Global construction insurance brokerage leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Other public company boards | — | — | None disclosed for Arkley in proxy’s “Other Public Company Boards” column |
| Alliant Insurance Services, Inc. | President, National Brokerage | Apr 2024–present | Current external executive role |
Board Governance
- Independence: Board affirmatively determined Arkley is independent under NYSE standards; independence reassessed annually .
- Committee service: Served on Corporate Governance & Nominating Committee during 2024; no longer a member as of March 12, 2025 .
- Current committee assignments: No standing committee listed for Arkley in 2025 nominees table .
- Attendance: In 2024, each director attended at least 75% of Board and applicable committee meetings; Board met 5 times, CGN Committee met 4, Audit met 12, Compensation met 6 .
- Lead Independent Director: Robert C. Lieber serves as Lead Independent Director; Arkley is not LID .
- Executive sessions: Non‑management directors met in executive session on the same day as each regular Board meeting in 2024 .
Fixed Compensation
Director fee structure (effective May 2024):
| Component | Amount |
|---|---|
| Annual Cash Retainer ($) | 100,000 |
| Annual Equity Value Retainer ($) | 160,000 |
| Lead Independent Director Retainer ($) | 30,000 |
| Audit Chair / Comp Chair / Governance Chair ($) | 25,000 / 15,000 / 15,000 |
| Audit / Comp / Governance Member Retainer ($) | 12,500 / 7,500 / 7,500 |
| Extraordinary meeting attendance fee (post‑May 2024) ($) | 1,500 per meeting; 3 Audit meetings qualified in 2024 |
Peter Arkley – 2024 Director Compensation:
| Item | Amount ($) |
|---|---|
| Fees Earned (cash/stock) | 112,903 |
| Stock Awards (grant date fair value) | 159,997 |
| Total | 272,900 |
Notes:
- 2024 annual stock grant sized off closing price on grant date; as of Dec 31, 2024, no outstanding director equity awards remained .
Performance Compensation
- Non‑management director pay is not performance‑based; annual grants are retainer-equity, not tied to operating metrics, and directors do not receive options under the director program .
Performance metrics table (directors):
| Metric | Target | Weight | Result |
|---|---|---|---|
| Not applicable to non‑management directors | — | — | — |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public boards | None disclosed for Arkley |
| Interlocks/potential conflicts | Company uses Alliant (Arkley’s employer) for insurance services. Board determined the relationship does not impair independence: services on market terms; revenue immaterial vs Alliant; Arkley recuses on insurance decisions; no authority to set fees; commissions standardized and publicly disclosed; Arkley’s compensation not tied to TPC business . |
Expertise & Qualifications
- 30+ years in insurance and surety with construction focus; provides risk management and financial services insights to the Board .
- Finance degree; prior leadership at major brokers (Aon, Alliant) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Peter Arkley | 147,316 | <1% | As of Mar 19, 2025; total shares outstanding 52,702,538 |
Ownership alignment and policies:
- Director stock ownership guideline: 5× annual cash retainer; all current non‑management directors are in compliance .
- Anti‑hedging and anti‑pledging policies; share pledging limited to ≤30% of beneficially owned shares and no current pledges by any director .
Governance Assessment
- Independence and conflict management: The Board’s detailed review of the Alliant relationship and Arkley’s recusal supports functional independence and mitigates related‑party risk; independence affirmed .
- Attendance and engagement: Met the ≥75% attendance threshold across Board/committee service in 2024; indicates baseline engagement .
- Pay structure and alignment: Director pay combines fixed cash ($100k) and equity ($160k) retainers, with clear committee differentials; no performance awards or options for directors; supports alignment via equity without undue risk incentives .
- Shareholder‑friendly policies: Majority voting standard for uncontested director elections adopted (2024), with resignation policy; robust clawback for executives; anti‑hedging/pledging; independent committees and ownership guidelines .
- Investor sentiment context: Historical low Say‑on‑Pay support improved through compensation program changes; while NEO‑focused, Board responsiveness to shareholders is a positive governance signal .
RED FLAGS
- Related‑party exposure: Insurance brokerage relationship via Alliant (Arkley’s employer) can be perceived as a conflict; mitigants include recusal, immateriality, standardized commissions, and independence determinations .
- No personal pledging and anti‑hedging policies reduce alignment risks; no additional red flags (e.g., loans, option repricing, tax gross‑ups) are disclosed for directors .