John Mollenkopf
Antero MidstreamAbout John Mollenkopf
John C. Mollenkopf, age 63, has served as an independent director of Antero Midstream Corporation since 2019. He sits on the Audit Committee and the Environmental, Social and Governance (ESG) Committee, and brings deep operating and EH&S experience from decades in midstream energy leadership . The Board has determined he is independent under NYSE rules (8 of 10 directors are independent), with executive roles limited to the CEO and SVP-Finance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MPLX GP LLC (MarkWest operations) | Executive Vice President & Chief Operating Officer (retired) | Through 2016 | Led operations for MarkWest assets within MPLX; significant executive management and operations leadership |
| MarkWest Energy Partners, L.P. | Co-founder; Executive Vice President & Chief Operating Officer | 2002–2015 | Foundational build-out of midstream footprint; business development, marketing, engineering, operations |
| MarkWest Hydrocarbon, Inc. | Senior management roles | 1996–2002 | Senior roles across engineering/operations |
| ARCO Oil and Gas Company | Engineering/operations roles | 1982–1996 | Early engineering and operational experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | No current public company directorships listed |
Board Governance
- Committee assignments: Audit Committee member; ESG Committee member; not a chair .
- Committee activity: Audit Committee met 6 times in 2024; ESG Committee met 4 times in 2024 .
- Board activity and attendance: Board held 10 meetings; independent directors held 4 executive sessions; all directors attended ≥75% of Board and committee meetings; all directors attended the 2024 Annual Meeting .
- Lead Independent Director: David H. Keyte; responsibilities include presiding over executive sessions and shareholder engagement .
Fixed Compensation
- Structure: Non‑employee directors receive cash retainers and fully‑vested stock; annual base cash retainer $107,500; Audit Committee member $15,000; ESG Committee member $7,500; annual equity grants of fully‑vested stock totaling $142,500 (paid quarterly); meeting fees $1,500 for committee meetings beyond 10 per year (cap $22,500 per committee) .
- 2024 compensation (Mollenkopf):
- Cash: $130,000 (base + Audit member + ESG member) .
- Equity: $142,466 (aggregate grant-date fair value of quarterly stock awards) .
- Total: $272,466 .
| Component | Amount ($) | Details |
|---|---|---|
| Annual cash retainer | 107,500 | Standard non-employee director retainer |
| Audit Committee member fee | 15,000 | Member (non-chair) |
| ESG Committee member fee | 7,500 | Member (non-chair) |
| Cash subtotal (Mollenkopf 2024) | 130,000 | Reported “Fees Earned or Paid in Cash” |
| Equity (fully‑vested stock) | 142,466 | Quarterly grants; total grant-date fair value |
| Total (Mollenkopf 2024) | 272,466 | Sum of cash and equity |
- Director stock ownership guidelines: Minimum 5× annual cash retainer within five years of policy adoption/election; adopted in 2022; directors still within compliance window .
Performance Compensation
- Non‑employee directors do not receive performance-based awards; equity is fully‑vested stock, and no options are granted under the director program .
| Performance Metric | Weight | Target | Result |
|---|---|---|---|
| None for directors | — | — | Equity grants are fully‑vested; no performance conditions |
Other Directorships & Interlocks
| Company | Overlapping Directors/Executives | Committee Roles (External) | Notes |
|---|---|---|---|
| None | — | — | No external public board roles disclosed for Mollenkopf |
Expertise & Qualifications
- Executive management, operations, engineering, EH&S in midstream energy; business development and marketing .
- ESG-relevant experience noted by Board in ESG Committee composition (environmental stewardship, social responsibility) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| John C. Mollenkopf | 97,007 | <1% | As of April 15, 2025 |
| Hedging/Pledging Policy | Prohibited | — | Insider Trading Policy prohibits hedging and pledging by directors |
| Stock Ownership Guidelines | 5× cash retainer (5-year window) | — | Directors still within compliance window (policy adopted 2022) |
Governance Assessment
- Independence and committee service: Independent director serving on Audit and ESG committees; Audit Committee independence meets NYSE/SEC standards—appropriate for financial oversight .
- Attendance/engagement: Board and committee participation was strong across the Board in 2024; no director fell below 75% attendance; all attended the Annual Meeting—positive engagement signal .
- Compensation alignment: Cash + fully‑vested equity structure is conventional; modest committee fees; no director options or performance pay—reduces pay-for-performance optics but aligns with standard director independence practices .
- Ownership alignment: Beneficial ownership reported; strict anti‑hedging/pledging policy; stock ownership guidelines target 5× retainer—positive alignment features .
- Potential conflicts: Structural related‑party exposure exists broadly via extensive agreements with Antero Resources; oversight mitigated by a standing Conflicts Committee chaired by the Lead Director—still a governance sensitivity investors should monitor .
- Shareholder signals: 2024 Say‑on‑Pay support was ~77%—acceptable but below best‑in‑class; suggests continued engagement on pay programs (applies to executives, not directors) .
- RED FLAGS:
- Classified board and supermajority provisions persist from the 2019 simplification—entrenchment risk; investors may scrutinize accountability and refresh dynamics .
- Related‑party transactions with the parent (Antero Resources) require ongoing robust Conflicts Committee oversight to maintain investor confidence .
Overall: Mollenkopf’s deep midstream operations background and ESG committee role enhance board effectiveness in operational risk and sustainability oversight. Key monitoring areas are structural conflicts with Antero Resources and entrenchment features; attendance and independence posture are strong .