Page 15 - 2022 Annual Report 2022 01.18 0528

Our May Board of Directors meeting
focused on updates to our Employee
Guidelines including a Paid Bereavement
Policy, Paid Parental Leave Policy, and a
Covid-19 PTO Policy. All with an eye
toward continuing to offer some of the
most competitive benefits in the market
to both attract and retain the best
people. We also received authorization
to begin establishing annual collegiate
scholarships and have subsequently
established an endowment for an
Architecture Scholarship at the University
of Illinois. This will be the first of many
scholarships at some of the fine
institutions where we recruit new
graduates. The Board also approved mid-year bonuses as a one-time thank you for all the hard work
our people put in while we navigated the first half of the fiscal year. In our Board workshop we
discussed how to best lead the firm through inflation and potential recession. We have incorporated
most of these ideas into our strategic decisions throughout the remainder of the year.

Spring and early Summer saw the Strategic Leadership Group aligning job responsibilities for many
positions throughout the firm with the way the firm currently operates. These job responsibilities will
be incorporated into the new annual review process currently being rolled out and are intended to be
reviewed individually with employees as a baseline for future performance reviews. The intent of this
initiative is to promote and monitor accountability.

The August Board meeting saw the approval of a charter for a Governance and Nominating
Committee (GNC) of the Board. The GNC charter outlines the following duties and responsibilities:
Governance Subcommittee (GSC):

1. Review the corporate governance practices and make recommendations to the Board
regarding additions and/or revisions to these practices.

2. Perform an annual review of the following:

A. Corporation By-Laws
B. Corporate or Management Actions Requiring Board Involvement

C. Roles, Responsibilities and Qualifications of the Board of Directors

D. Board composition and nominating process
E. Conduct self-evaluation process of the Board

3. Review the list of selection criteria and competencies needed for membership on the Board.

4. Assess the makeup of the membership of the Board to evaluate board level skillsets and
viewpoints that may be lacking or missing.

5. Provide input to the Board regarding the leadership succession process for the senior
executives of FGMA.

Page | 7 Chairman’s/CEO’s Report