Peggy Troy
Zurn Elkay Water SolutionsAbout Peggy N. Troy
Peggy N. Troy, age 73, is an independent director of Zurn Elkay Water Solutions (ZWS) and has served on the Board since 2019. She retired as President and CEO of Children’s Wisconsin in December 2024 after serving since 2009, and brings deep leadership and human capital management experience from large healthcare organizations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Children’s Wisconsin | President & CEO | 2009–Dec 2024 | Led large healthcare organization; human capital management leadership |
| Methodist Le Bonheur Healthcare | EVP & COO | Not disclosed | Senior operating leadership in healthcare |
| Le Bonheur Children’s Medical Center | President & CEO | Not disclosed | Senior executive leadership |
| Cook Children’s Medical Center | President | Not disclosed | Executive leadership in pediatric care |
External Roles
| Organization | Role | Status/Timing | Notes |
|---|---|---|---|
| QuadMed | Advisory Board Member | Current (as of 2025 proxy) | Advisory capacity in employer-based healthcare |
| Children’s Hospital Association (National Board) | Chairperson | Prior service | National network governance leadership |
| Milwaukee Regional Medical Center Board | Chairperson | Prior service | Regional healthcare governance leadership |
| Marquette University | Trustee; Executive Committee member | Disclosed as current in 2023 filings | University governance (timing per 2023 filings) |
| Medical College of Wisconsin (MCW) | Board Member | Disclosed as current in 2023 filings | Academic medical governance (timing per 2023 filings) |
Board Governance
- Independence: The Board affirmatively determined Peggy Troy is independent under NYSE standards .
- Committees: Chair, Nominating & Corporate Governance Committee; Member, Sustainability Committee .
- Attendance: Board held four meetings in 2024; all serving directors attended at least 75% of board and committee meetings on which they served; all current directors attended the 2024 annual meeting .
- Board leadership: Lead Independent Director is Mark S. Bartlett; executive sessions held at each regular meeting without management present .
Fixed Compensation
| Component | Amount | Period | Notes |
|---|---|---|---|
| Annual cash retainer (program level) | $95,000 | 2024 | Annual cash compensation level was revised in 2024 (unchanged since 2015 before this) |
| Committee chair fee – Nominating & Governance | $15,000 | 2024 | Applicable to Troy as Committee Chair |
| Fees earned or paid in cash (actual) | $106,250 | 2024 | Reported for Troy in 2024 director compensation table |
- Directors may elect cash compensation in the form of deferred RSUs; over 50% of directors elected deferred RSUs in 2024 and 2025 .
Performance Compensation
| Component | Grant/Value | Vesting | Settlement | Notes |
|---|---|---|---|---|
| RSUs (annual director grant) | $140,018 (grant date fair value) | Vests immediately on grant | Paid 6 months after director leaves the Board | Standard equity grant to non-employee directors under PIP |
| Options | None | — | — | Non-employee directors had no unexercised options outstanding as of Dec 31, 2024 |
- Director equity grants are RSUs (not performance-conditioned PSUs); no specific performance metrics are tied to director equity awards .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Public company boards | None disclosed for Troy in ZWS filings |
| Potential interlocks (competitors/suppliers/customers) | None disclosed; no related party transactions involving Troy noted |
Expertise & Qualifications
- Leadership of large organizations and human capital management expertise; service as CEO and President across multiple pediatric healthcare systems .
- Governance experience leading the Nominating & Corporate Governance Committee and participating on the Sustainability Committee .
- Board skill matrix coverage includes governance, HR/compensation, and sustainability competencies for the Board overall; Troy’s profile emphasizes human capital and governance experience .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 58,757 | As of Record Date; includes vested deferred RSUs per footnote |
| Ownership as % of shares outstanding | <1% | “*” indicates less than one percent |
| Vested deferred RSUs included in beneficial ownership | 51,063 | Included in footnote for non-employee directors |
| Stock awards outstanding (number) | 46,383 | As of Dec 31, 2024 |
| Anti-hedging/anti-pledging policy | Prohibits hedging and pledging by directors, officers, employees | |
| Stock ownership guideline | Minimum 5x annual cash retainer within 5 years of election | Board-level disclosure; eight of nine non-employee directors met guidelines as of Record Date; McTague has until March 2028 |
Governance Assessment
- Committee leadership and engagement: As Chair of Nominating & Governance and member of Sustainability, Troy is integral to Board refreshment, governance framework, and ESG oversight—core to investor confidence .
- Independence and attendance: Independent status with Board-wide attendance at or above 75% supports governance effectiveness and reliability of oversight .
- Director pay structure: Balanced mix of cash retainer and RSUs; immediate vesting with deferred settlement enhances long-term alignment without encouraging short-termism; no options outstanding reduces risk of repricing concerns .
- Ownership alignment: Significant vested deferred RSUs and stock awards outstanding; Board ownership guidelines at 5x cash retainer and anti-hedging/pledging policies strengthen alignment and risk controls .
- RED FLAGS: None disclosed—no related party transactions involving Troy; Company discloses clawback policy for executives and prohibitions on hedging/pledging; director overboarding concerns are addressed through governance guidelines and independence determinations .