Lance Langford
About Lance Langford
A. Lance Langford (age 62) has served on Atlas Energy Solutions Inc.’s (AESI) Board since March 2023. He is an independent director, chairs the Nominating & Corporate Governance Committee, and serves on the Compensation Committee . Langford holds a B.S. in Petroleum Engineering from Texas Tech University and brings 30+ years of oil and gas operating leadership .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Atlas Sand Company, LLC (pre-IPO predecessor) | Board of Managers | 2018–2023 | Pre-IPO governance of AESI’s predecessor |
| Brigham Minerals, Inc. | Director | Aug 2020–Dec 2022 | Board member until merger with Sitio Royalties |
| Langford Energy Partners I, LLC | Chief Executive Officer | 2020–present | Operated E&P portfolio leadership |
| Brigham Royalties Fund I, LP (GP) | Co-founder; member of GP | 2023–present | Minerals-focused investment governance |
| Luxe Energy LLC / Luxe Minerals LLC | CEO, Co-Founder, Director | 2015–2020 | Built Permian-focused upstream platforms |
| Equinor ASA (formerly Statoil) | Senior Vice President | 2011–2015 | North American shale operations leadership |
| Brigham Exploration Company | EVP – Operations | 1995–2011 | Led engineering/operations pre-sale to Statoil |
| Burlington Resources Inc. | Engineer | 1987–1995 | Early career operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Langford Energy Partners I, LLC | Chief Executive Officer | 2020–present | Privately held upstream operator |
| Brigham Royalties Fund I, LP (GP) | Co-founder; GP member | 2023–present | Minerals investment; private fund |
No current public company directorships disclosed beyond AESI; prior public board was Brigham Minerals (merged into Sitio Royalties in Dec 2022) .
Board Governance
- Committees: Chair, Nominating & Corporate Governance (NCGC); Member, Compensation Committee .
- Independence: Board-designated independent director under NYSE standards; independent for Compensation Committee service .
- Attendance and engagement: In 2024, the Board held 4 regular and 7 special meetings; each director attended ≥75% of Board and committee meetings during their service. Compensation Committee met 5 times; NCGC met 5 times; Audit Committee met 10 times .
- Executive sessions: Independent directors hold at least one executive session annually .
Fixed Compensation
| Component | Detail | 2024 Amount |
|---|---|---|
| Annual Cash Retainer | Non-employee director | $75,000 |
| Committee Chair Fee | NCGC Chair | $20,000 |
| Special Committee Fee | Hi-Crush acquisition Special Acquisition Committee | $5,000 |
| Fees Earned or Paid in Cash (reported) | Total 2024 director cash fees | $100,000 |
| Annual Equity Grant | RSUs target value (LTIP) | $145,000 |
| RSUs Outstanding (12/31/24) | Unvested director RSUs | 11,364 units |
| Retainer Taken in Equity | Portion of cash retainer received as RSUs | $95,000 |
AESI’s director program: $75k cash retainer; chair fees ($30k Audit; $20k Compensation; $20k NCGC); annual RSU grant of $145k. Some directors elected to receive retainer via RSUs; Langford elected $95k in RSUs for 2024 .
Performance Compensation
| Element | Structure | Metrics | Notes |
|---|---|---|---|
| Director Equity | Time-based RSUs | None (time-based vesting only) | Directors receive annual RSUs; no PSUs or options for directors disclosed |
AESI does not grant stock options currently and granted no options in 2024; director equity is time-based RSUs without disclosed performance conditions .
Other Directorships & Interlocks
| Organization | Role | Tenure | Interlock/Notes |
|---|---|---|---|
| Brigham Minerals, Inc. | Director | Aug 2020–Dec 2022 | Historical tie to AESI founder network; merged into Sitio Royalties |
| Atlas Sand Company, LLC | Board of Managers | 2018–2023 | Pre-IPO governance of AESI predecessor |
- Compensation Committee interlocks: None disclosed; no cross-company compensation committee/board interlocks with AESI executives .
- Stockholders’ Agreement: Langford and spouse are Principal Stockholders party to the agreement granting founder Ben M. “Bud” Brigham designation rights and obligating votes for designated nominees, with at least one founder designee required on each Board committee (subject to legal constraints) .
Expertise & Qualifications
- Petroleum engineering degree (Texas Tech University) .
- 30+ years of upstream operations, engineering, and leadership experience (Equinor, Brigham Exploration, Luxe entities) .
- Board and governance experience (Brigham Minerals; pre-IPO Atlas LLC); chairing NCGC (board composition, evaluations, governance guidelines oversight) .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Total Beneficial Ownership | 1,250,069 shares | 1.0% of outstanding shares as of 3/18/2025 |
| Ownership Vehicles | 484,483 shares (ALL Financial Trust); 592,146 shares (BLL Financial Trust) | Langford is spouse of trustee of ALL Financial Trust and trustee of BLL Financial Trust; disclaims beneficial ownership except to pecuniary interest |
| RSUs Outstanding (Director) | 11,364 units | As of 12/31/2024 |
| Pledging/Hedging | Prohibited hedging; pledging restricted (>15% threshold) | Company policy; no Langford pledges disclosed |
Governance Assessment
-
Strengths
- Independent director; chairs NCGC and serves on Compensation Committee; strong attendance and committee engagement in 2024 .
- Ownership alignment: 1.0% beneficial stake and election to take $95k of retainer in RSUs signal skin-in-the-game; annual RSU grants support alignment .
- No director interlocks or related-party transactions involving Langford disclosed; compensation committee uses independent consultant (Meridian) .
-
Watch items / potential conflicts
- Principal Stockholders’ Agreement gives founder-designee rights and obligates votes from Principal Stockholders (including Langford and spouse), influencing board composition and requiring founder-designee presence across key committees (subject to legal limits). While Langford is independent, this governance structure can diminish perceived board autonomy and should be monitored for committee independence and succession planning .
- Extensive historic ties to Brigham-affiliated enterprises and current private ventures (Brigham Royalties Fund I LP) warrant continued oversight to ensure no undisclosed related-party dealings arise; none are disclosed for Langford in 2024 .
-
Signals affecting investor confidence
- Positive: Clear independence designation; NCGC leadership; robust meeting cadence and attendance; equity-heavy director compensation .
- Neutral-to-negative: Founder influence via Stockholders’ Agreement and committee-designee requirements could constrain board refreshment and independent committee composition over time .
Say-on-Pay/Say-on-Frequency: AESI recommends an annual say-on-frequency; first say-on-pay due no later than the third anniversary post direct listing/IPO, indicating an evolving shareholder feedback cycle .