Joseph van Dokkum
About Joseph van Dokkum
Independent director of Vertiv (VRT), age 71, serving since February 7, 2020. He is a senior advisor and co‑founder of Imperative Science Ventures (since 2019), and previously an Operating Partner at Kleiner Perkins (2009–2019), President of UTC Power (a division of RTX/United Technologies) for seven years, and President & CEO of Siemens Power Transmission & Distribution, Inc., with 17 years at Siemens. He holds bachelor’s and master’s degrees in electrical engineering from the Institute of Technology, Albertus Magnus . He was selected for his extensive leadership and industry knowledge .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kleiner Perkins | Operating Partner | 2009–2019 | Worked with portfolio leaders to accelerate commercialization and scale |
| UTC Power (RTX/United Technologies) | President | ~7 years (pre‑2009) | Grew power generation products/services incl. fuel cells; expanded portfolio via acquisitions |
| Siemens Power Transmission & Distribution, Inc. | President & CEO | Last 6 of 17 years | Augmented traditional equipment with intelligent systems/controls; returned business to profitability |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Imperative Science Ventures | Senior Advisor & Co‑founder | Since 2019 | Venture firm focused on science breakthroughs |
| Ndustrial | Director | Since 2017 | Board service (company not identified as public) |
| Solidia Technologies | Director | 2011–Dec 2021 | Retired in Dec 2021 |
| Ionic Materials, Inc. | Director | 2013–2024 | Board service ended in 2024 |
No current public company directorships disclosed for van Dokkum; no interlocks disclosed with Vertiv competitors/suppliers/customers .
Board Governance
- Committees: Compensation Committee member; Nominating and Corporate Governance Committee member and Chair .
- Independence: Determined independent under NYSE and SEC rules .
- Board/committee activity: In 2024, Board met 4 times; Audit 8; Nominating/Governance 3; Compensation 4. All but one director (Kotzubei) attended ≥75% of aggregate Board and relevant committee meetings; Kotzubei attended 50% and serves on no committees .
- Director elections: Annual, with van Dokkum nominated for the 2025 slate to serve until the 2026 meeting .
Fixed Compensation
| Component | Amount | Period | Notes |
|---|---|---|---|
| Cash retainer (as Nominating/Governance Chair) | $115,000 | FY2024 | Fees earned/pd in cash |
| Meeting fees | Not disclosed | — | Policy discloses retainers; no meeting fees listed |
Director cash compensation structure (policy): Chairman $131,000; Audit Chair $150,000; Compensation Chair $130,000; Nominating/Governance Chair $115,000; other Board member $100,000 .
Performance Compensation
| Award Type | Grant Date | Shares/Options | Exercise/Strike | Grant Date Fair Value | Vesting | Notes |
|---|---|---|---|---|---|---|
| Stock options | Mar 7, 2024 | 15,000 options | $72.09 | $410,550 | Annual over 4 years | All non‑employee directors received options; value computed under ASC 718 |
| Unexercised options (vested & unvested) | As of Dec 31, 2024 | 122,294 options | — | — | — | Director-level disclosure; aggregate unexercised count |
- Options vest ratably annually over four years, value realized only if stock price exceeds exercise price, aligning director incentives with shareholder value .
- 2024 option grants were a set number (lower count than prior year); grant date accounting value was higher due to stock price increase, but actual value depends on future share price performance .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Imperative Science Ventures | Private | Co‑founder/Senior Advisor | None disclosed with Vertiv |
| Ndustrial | Private | Director | None disclosed with Vertiv |
| Solidia Technologies | Private | Former Director | None disclosed with Vertiv |
| Ionic Materials, Inc. | Private | Former Director | None disclosed with Vertiv |
No compensation committee interlocks identified involving Vertiv’s Compensation Committee in 2024; none of its members were Vertiv officers and no cross‑board interlocks with executives at other entities were disclosed .
Expertise & Qualifications
- Electrical engineering degrees (BS/MS) from Institute of Technology, Albertus Magnus .
- Deep operational and scaling experience across power equipment, intelligent systems, and energy solutions (UTC Power, Siemens) .
- Venture and growth-stage commercialization expertise (Kleiner Perkins; Imperative Science Ventures) .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % of Outstanding | Breakdown |
|---|---|---|---|
| Joseph van Dokkum | 111,382 | <1% | 25,000 shares held jointly with spouse; 86,382 shares underlying options exercisable within 60 days of Apr 15, 2025; 381,105,178 shares outstanding reference base |
Additional holdings context: As of Dec 31, 2024, van Dokkum held 122,294 unexercised options (vested and unvested) .
Stock ownership guidelines: Directors must hold 5× cash retainer; company prohibits hedging and pledging; all directors have met or are anticipated to meet guidelines within applicable timeframes .
Governance Assessment
- Independence and role: Independent director; Chair of Nominating & Corporate Governance—positive signal for board refreshment, evaluation, and governance oversight .
- Compensation alignment: Director equity via stock options with four‑year vesting and at‑the‑money strike aligns pay with shareholder value; cash retainer appropriate for chair workload .
- Ownership and policies: Meaningful ownership expectations (5× retainer) and prohibition on hedging/pledging support alignment; “no sale” restriction for officers, and directors are meeting/anticipated to meet guidelines .
- Attendance and engagement: Board/committee cadence disclosed; only one director (not van Dokkum) below 75%—suggests satisfactory engagement across the board; annual meeting attendance expectation reiterated .
- Conflicts/related-party exposure: No related‑party transactions involving van Dokkum disclosed; robust policy with Audit Committee oversight .
- Risk indicators: Section 16 compliance largely timely; late Form 4 only for Roger Fradin—no issues noted for van Dokkum . Compensation Committee risk assessment found policies do not encourage excessive risk taking .
RED FLAGS: None disclosed specific to van Dokkum (no hedging/pledging permitted; no related‑party transactions; attendance threshold issue applied to a different director) .