Tim R. Wallis
About Tim R. Wallis
Tim R. Wallis, age 73, is an independent director of United Community Banks, Inc. since 1999, serving on the Talent and Compensation Committee and bringing small-business and community banking perspectives from his prior leadership of Wallis Printing and chairmanship of United Community Bank—Rome’s community bank board (education: Georgia Southern University). He has extensive civic and business involvement across Georgia and the Southeast, including roles with the Printing and Imaging Association of Georgia, Georgia Chamber of Commerce (Northwest Georgia chair), and multiple nonprofit boards, and is affirmed independent under NYSE standards (no related-party transactions) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wallis Printing (Rome, GA) | President | — | Led small business operations; perspective on SMB customer needs |
| Printing & Imaging Association of Georgia (PIAG) | Director; Chair, Government Relations Committee | — | Legislative liaison work at state/national levels |
| Georgia Chamber of Commerce | Board member; Chair for Northwest Georgia | — | Regional business advocacy |
| Darlington School; GA Southern Univ. Foundation; Rome/Floyd YMCA; United Way of Rome & Floyd County | Trustee/Board member | — | Community leadership and philanthropy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| United Community Bank—Rome (community bank board) | Chairman | — | Affiliate board leadership; local market insights |
| Retail shopping centers & apartment complexes (Southeast) | Investor | — | Private investments; no related-party transactions disclosed for 2024 |
Board Governance
- Committee assignments: Talent and Compensation Committee member; not a chair .
- Independence: Board affirmatively determined Wallis to be independent under NYSE and company guidelines .
- Attendance: Board met 7 times in 2024; each incumbent director attended at least 75% of aggregate Board and committee meetings; directors also attended the 2024 Annual Meeting .
- Board structure: CEO serves as Chairman; Lead Independent Director is Thomas A. Richlovsky; independent directors hold executive sessions at each regular Board meeting .
- Committee workload: Talent & Compensation held 6 meetings in 2024; scope includes executive/director pay, equity awards, consultant independence, ownership guidelines .
Fixed Compensation
| Component | Amount (2024) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $62,500 | Annual cash; committee/member fees within structure below |
| Equity Compensation – Annual RSUs ($) | $65,006 | Time-based RSUs granted May 15, 2024; vest before next annual meeting |
Director compensation framework:
- Effective Jan 1, 2024: Directorship cash retainer $50,000; equity $65,000; T&C Committee member $7,500; chair $10,000 (other committee rates shown in proxy) .
- Effective Sep 1, 2024: Directorship cash retainer $60,000; equity $75,000; T&C Committee member $8,750; chair $15,000 (other committee rates adjusted) .
Performance Compensation
| Grant Date | Instrument | Underlying Shares | Grant Date Fair Value | Vesting |
|---|---|---|---|---|
| May 15, 2024 | Time-based RSUs | 2,413 | $65,006 | Vest day before the following year’s annual meeting |
- No stock options; director RSUs are time-based (not performance-based) and remained outstanding at year-end 2024 .
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Other public company boards | None (Other Public Boards: 0) |
| Committee interlocks | None for Talent & Compensation members in 2024; no relationships requiring related-party disclosure |
Expertise & Qualifications
- Board matrix indicates Wallis contributes executive management, strategic planning/oversight, corporate governance, mergers & acquisitions, and corporate social responsibility expertise .
- Community banking and small-business ownership experience informs customer-centric and mid-market perspectives .
Equity Ownership
| Measure | Value |
|---|---|
| Beneficial ownership (common shares) | 114,534 shares; includes 91,418 via Wallis Investment Co., LLC (wholly owned by Wallis and spouse) |
| % of class | <1% (“*”) |
| Estimated value at 12/31/2024 close ($32.31) | ≈ $3.70 million (114,534 × $32.31) |
| 2024 director RSUs outstanding at YE | 2,413 time-based RSUs (from May 2024 grant) |
| Ownership guidelines | Directors must hold ≥3× annual cash retainer; retain 100% of net shares until target met; anti-hedging/anti-pledging policy applies |
| Compliance indication | Meets/exceeds guideline based on disclosed holdings and year-end price |
Policy prohibits pledging or hedging United Community securities by directors and executives; no pledging disclosed for Wallis .
Governance Assessment
- Strengths: Longstanding independent director with deep community banking/SMB experience; active on Talent & Compensation Committee overseeing executive pay, equity awards, and consultant independence; attendance meets Board expectations; meaningful share ownership well above guideline supports alignment .
- Compensation mix: Balanced cash retainer and time-based RSUs; no options; RSUs vest annually, reinforcing long-term alignment; director pay benchmarked by Aon, adjusted in Sep 2024 to ~50th percentile peer positioning .
- Conflicts: No related-party transactions disclosed for 2024 involving Wallis; general related-party policy requires Board/Audit approval and recusals; independence affirmed .
- Watch items: Very long tenure (since 1999) may raise entrenchment concerns for some investors despite ongoing Board refreshment and annual self-assessments; however, Board maintains independent leadership and regular evaluations .