Mary Chris Jammet
WESTERN ALLIANCE BANCORPORATIONAbout Mary Chris Jammet
Independent director since 2024; age 57; former Senior Vice President and Portfolio Manager at Legg Mason Capital Management (now Franklin Templeton). She holds a B.S. in Finance (Towson University) and an M.S. in Finance (Loyola University Maryland), is designated an Audit Committee Financial Expert, and earned the CERT Certificate of Cybersecurity Oversight from Carnegie Mellon University’s Software Engineering Institute .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Legg Mason Capital Management (now Franklin Templeton) | Senior Vice President & Portfolio Manager; previously Equity Analyst | 1989–2013 | Led public equities research/portfolio management; deep financial statement analysis expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Adams Funds | Director; Chair of the Audit Committee; member Compensation, Nominating & Governance, and Executive Committees | 2020–present | Audit Committee leadership; governance and compensation oversight |
| MGM Resorts International | Director; Audit Committee Financial Expert; member Human Capital & Compensation and Corporate Social Responsibility & Sustainability Committees | 2014–present | Financial reporting oversight; human capital and ESG oversight |
Board Governance
- Committee memberships: Audit Committee and Compensation Committee; not a chair .
- Independence: Board determined all nominees except the CEO are independent; Jammet is independent under NYSE standards .
- Attendance: In 2024, the Board held 9 meetings; Audit Committee 11, Compensation Committee 8; each current director attended at least 75% of Board and committee meetings on which they served .
- Executive sessions: Five independent director-only sessions held; presided by the independent Board Chair .
- Board composition: 13 directors; four fully independent committees (Audit, Compensation, Governance, Risk); Finance & Investment includes CEO .
Fixed Compensation
| Item | Terms (2024 program) | Source |
|---|---|---|
| Annual Board cash retainer | $50,000 for non-employee directors | |
| Committee service retainers | Audit: $20,000; Compensation/Governance/Risk/Finance & Investment: $10,000 each | |
| Committee chair fees | $10,000 per committee chair | |
| Chair of the Board premium | $80,000 cash retainer and $80,000 restricted stock | |
| Equity grant (standard) | 4,056 restricted shares granted Feb 6, 2024 (grant-date fair value $235,005); scheduled vest Feb 6, 2025 |
| Director | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| Mary Chris Jammet (appointed Apr 22, 2024; grant May 2, 2024) | $60,000 | $195,889 | $3,659 (dividends on unvested director grant) | $259,548 |
Notes:
- New appointees (including Jammet) received pro-rated equity grants on May 2, 2024 (Jammet’s $195,889 fair value) versus the standard Feb 6 grant .
- Dividends on unvested director grants are included in “All Other Compensation” .
Performance Compensation
- Non-employee director pay is not performance-based; restricted stock grants are time-vested. No director-specific performance metrics are disclosed for director compensation .
Other Directorships & Interlocks
| External Company | Relationship to WAL | Potential Interlock/Conflict Notes |
|---|---|---|
| Adams Funds | Independent, closed-end funds; no WAL customer/supplier linkage disclosed | No related-party transactions involving Jammet disclosed; Board policy requires Governance Committee review >$120k transactions; none reported for directors beyond routine banking per Regulation O |
| MGM Resorts International | Independent; large hospitality/gaming company | No related-party transactions involving Jammet disclosed; routine Reg O lending described generally; no director-specific transactions >$120k reported |
Expertise & Qualifications
- Financial analysis and capital markets experience from asset management; portfolio management and equity research background .
- Audit Committee Financial Expert designation; service on audit committees at Adams Funds and MGM .
- Cybersecurity oversight credential (CERT) – relevant to board oversight of cyber and technology risk .
- Skills & Traits Matrix for nominees includes public company governance, compensation & management development, finance & accounting among core areas; Jammet contributes in these domains .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Class |
|---|---|---|
| Mary Chris Jammet | 5,861 shares | Less than 1% |
| Shares outstanding (for reference) | 110,615,656 (as of Apr 14, 2025) | — |
- Stock ownership guidelines: Non-employee directors must hold shares equal to at least 5x annual cash compensation; compliance monitored by Governance Committee; all directors were in full compliance in 2024 .
- Hedging/pledging: Prohibited for directors; limited pledging exceptions exist but any pledged shares are excluded from meeting guidelines. No pledging disclosed for Jammet; a grandfathered pledge exists for an executive officer (not Jammet) .
Governance Assessment
- Committee effectiveness: Jammet adds financial acumen and audit expertise to a fully independent Audit Committee with robust responsibilities (internal audit oversight, auditor independence, controls, compliance), and contributes to Compensation Committee oversight of pay design, risk, and clawback policy .
- Independence and engagement: Confirmed independent; Board/committee attendance met thresholds; participates in a board with independent chair, regular executive sessions, and active risk/cyber oversight structure .
- Ownership alignment: Time-vested restricted stock grants and stringent 5x ownership guideline align directors with shareholders; hedging/pledging prohibition strengthens alignment .
- Compensation structure: Balanced cash retainer plus equity; no meeting fees; reasonable committee retainers; WTW engaged as independent consultant for director pay oversight; no consultant conflicts disclosed .
- Conflicts/related-party exposure: No related-party transactions involving Jammet reported; Board policies require Governance Committee approval for >$120k related-party transactions; routine Reg O lending disclosed on market terms .
- Say-on-pay signal: Executive say-on-pay received >95% approval in 2024, indicating broad investor support for compensation governance; positive governance backdrop for board oversight, though focused on executives rather than directors .
RED FLAGS: None identified for Jammet. No pledging/hedging disclosed; independence affirmed; attendance thresholds met; no related-party transactions reported .