Ana Lopez-Blazquez
WATSCOAbout Ana Lopez-Blazquez
Ana Lopez-Blazquez, age 67, is a Common Director of Watsco, Inc., serving since 2023 with her current term expiring in 2026. She is Executive Vice President and Chief Strategy & Transformation Officer at Baptist Health, bringing 36 years of strategy, transformation, and regulatory/financial expertise to the Board. She is an independent director under NYSE rules and serves on the Audit and Compensation Committees. In 2024, all directors, including Ms. Lopez-Blazquez, attended 100% of Board and committee meetings.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Watsco, Inc. | Advisory Board Member | 2021–2023 | Pathway to Board refreshment; perspective on strategy prior to board appointment |
| Baptist Health | EVP, Chief Strategy & Transformation Officer | 36 years | Led strategy development, execution, and business transformation, with deep financial/regulatory understanding |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Baptist Health | Executive Vice President, Chief Strategy & Transformation Officer | Ongoing | Not-for-profit health system leadership; operational strategy and transformation |
Board Governance
- Committees: Audit Committee (member) and Compensation Committee (member). Chairs are Denise Dickins (Audit and Compensation); Lead Independent Director is J. Michael Custer (chairs Nominating & Governance).
- Independence: Board affirmatively determined Ms. Lopez-Blazquez is independent under NYSE standards.
- Attendance: Board held 4 meetings and committees met Audit 6 times, Compensation 6 times, Nominating & Governance 3 times, Strategy 1 time in 2024; all directors attended 100% of Board and committee meetings.
- Controlled company context: Despite 53.6% combined voting power held by the Nahmad family group, Watsco maintains a majority-independent Board and fully independent Compensation and Nominating & Governance Committees.
- Ethics/Trading policies: Codes of conduct overseen by Audit Committee; hedging and pledging of Watsco shares are prohibited for directors and NEOs.
Fixed Compensation
| Year | Cash Retainer | Committee Membership Fees | Committee Chair Fees | Meeting Fees |
|---|---|---|---|---|
| 2024 | $0 | $0 | $0 (not a chair) | $0 (not disclosed/none) |
Notes:
- Director compensation is awarded from time to time in the form of stock options at the Chairman’s discretion, after consultation with Compensation and Nominating & Governance Committees; no tax gross-ups.
Performance Compensation
| Component | Grant Year | Instrument | Grant Size | Terms | Performance Metrics |
|---|---|---|---|---|---|
| Director option awards (discretionary) | n/a (no 2024 grant shown) | Stock Options | n/a | Typical vesting over 2 years; 5-year expiration; grants at Board discretion | None disclosed for directors; awards are not tied to explicit metrics |
Outstanding director options and intrinsic value (as of 12/31/2024):
| Name | Outstanding Options (#) | Intrinsic Value |
|---|---|---|
| Ana Lopez-Blazquez | 3,000 | $516,470 |
Other Directorships & Interlocks
| Company | Exchange | Role | Committee | Interlock/Conflict Notes |
|---|---|---|---|---|
| None disclosed | — | — | — | Compensation Committee interlocks: none; the proxy confirms no interlock relationships for members including Ms. Lopez-Blazquez in 2024. |
Network considerations:
- Watsco’s Advisory Board includes leaders connected to Baptist Health (e.g., Brian E. Keeley, Dr. Michael Zinner), indicating sector expertise connections; no related-party transactions disclosed with Baptist Health.
Expertise & Qualifications
- Skills matrix highlights her experience in Regulation, Technology & Innovation, Cybersecurity, Social/Management/Leadership, Financial Reporting & Internal Controls, and Corporate Governance. Years on Board (non-management) recorded as 2.
Equity Ownership
| Holder | Class | Beneficially Owned | % of Class | Breakdown/Notes |
|---|---|---|---|---|
| Ana Lopez-Blazquez | Common | 3,000 shares (incl. options exercisable within 60 days) | <1% (*) | 1,000 options under 2014 Plan; 2,000 options under 2021 Plan |
| Directors ownership guideline | — | Required ≥$100,000 of stock/equity value | — | All directors met the guideline as of 12/31/2024 |
| Pledging/Hedging | — | Prohibited | — | Directors cannot hedge or pledge Watsco shares |
Governance Assessment
- Board effectiveness: Active committee participation on Audit and Compensation, both fully independent; robust risk oversight including cyber and related-party review; 100% attendance supports engagement.
- Independence and alignment: NYSE independence affirmed; equity ownership guideline compliance and anti-hedging/pledging policy support alignment with long-term shareholders.
- Compensation structure signals: Non-chair directors receive minimal to no cash fees; director equity delivered primarily via options at Board discretion, encouraging equity alignment but without explicit director performance metrics. Outstanding options suggest historical alignment; no 2024 grant disclosed for Ms. Lopez-Blazquez.
- Conflicts/related party exposure: No related-party transactions disclosed involving Ms. Lopez-Blazquez. Audit Committee pre-approves and oversees related-party matters; Greenberg Traurig engagement (linked to director Cesar Alvarez) was reviewed and approved—no material interest disclosed for that director; none for Ms. Lopez-Blazquez.
- Shareholder sentiment: 2024 say-on-pay passed with 91% of combined votes; note that Common shareholder support was reported at 49%, highlighting the controlled company dynamic and potential difference in sentiment across classes.
RED FLAGS: None disclosed specific to Ms. Lopez-Blazquez (no pledging/hedging, no related-party transactions, full attendance). Controlled-company dynamics persist, but committees are independent.
Appendix: Reference Details
- Term and age: Common Director, age 67; term expires 2026.
- Committee assignments: Audit Committee and Compensation Committee member.
- Independence and attendance: Independent director; 100% attendance in 2024.
- Director compensation: No cash fees in 2024; outstanding options and intrinsic value disclosed.
- Ownership guideline compliance: All directors met minimum $100,000 equity value.