Thomas B. Tyree, Jr.
Director at AR
Board
About Thomas B. Tyree, Jr.
Independent director (age 64) at Antero Resources since 2019, with deep upstream and finance experience across CEO, CFO, and investment banking roles. Current occupation includes Independent Director of Enerflex Ltd and Project Canary; the Board classifies him as independent under NYSE standards . Tenure on AR’s Board: 6+ years as of 2025 . Recognized by the Board as an Audit Committee financial expert .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northwoods Energy LLC | CEO → Executive Chairman → Chairman | 2018–2023 | Co-founder; led private upstream operations |
| Extraction Oil & Gas, Inc. | CEO; prior Executive Chairman; Director | 2020–2021 | Led formerly public E&P; governance during transition |
| Vantage Energy, LLC | President, CFO, Director | 2006–2016 | Built private upstream platform |
| Bill Barrett Corporation | CFO | 2003–2006 | Public E&P financial leadership |
| Goldman, Sachs & Co. | Investment Banker | 1989–2003 | Energy finance expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Enerflex Ltd | Independent Director | Current | Public company board |
| Project Canary | Independent Director | Current | Private ESG/measurement focus |
| Bonanza Creek Energy, Inc. | Director | Until Mar 2020 | Prior public company board |
| Extraction Oil & Gas, Inc. | Director | Until Nov 2021 | Prior public company board |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent director; Board determined 8 of 9 directors are independent (Mr. Rady not independent) |
| Committees | Audit; Conflicts; ESG (member, not chair) |
| Committee meetings (2024) | Audit: 8; ESG: 4; Conflicts: — (none) |
| Audit Committee financial expert | Yes (Board determination) |
| Board meetings (2024) | 6 meetings; outside directors held 4 executive sessions; all directors attended 2024 Annual Meeting; no director <75% attendance |
| Lead Independent Director | Role held by Benjamin A. Hardesty; responsibilities enumerated (context for board effectiveness) |
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | $100,000 | Standard non-employee director retainer |
| Committee member fees | $22,500 | Audit ($10,000), ESG ($7,500), Conflicts ($5,000) |
| Total cash fees earned (2024) | $122,500 | Per director compensation table |
| Meeting fees | Eligible $1,500 per committee meeting over 10 (cap $22,500 per committee) | Program terms |
Performance Compensation
| Component | 2024 Amount | Vesting/Structure |
|---|---|---|
| Equity-based compensation (annual) | $214,946 | Fully-vested stock granted quarterly (~$53,750 per installment) under AR LTIP; annual target $215,000 |
- Performance metrics: None for non-employee director equity; awards are fully-vested stock, not RSUs/PSUs for directors .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Current public boards | Enerflex Ltd |
| Prior public boards | Extraction Oil & Gas, Inc. (until Nov 2021); Bonanza Creek Energy, Inc. (until Mar 2020) |
| Compensation committee interlocks | None (no AR executive serves on a board with reciprocal executive serving on AR Board) |
Expertise & Qualifications
- Executive leadership, finance, risk management, operations, and industry expertise cited by the Board .
- Audit Committee financial expert designation (SEC definition) .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (shares) | 96,512 |
| Ownership as % of shares outstanding | <1% (asterisk in table denotes less than one percent) |
| Director stock ownership guideline | ≥5x annual cash retainer within 5 years; all directors subject to guideline ≥5 years are in compliance |
| Hedging/pledging | Prohibited by Insider Trading Policy; corporate policies generally prohibit hedging/pledging |
| Section 16 compliance | No delinquent filings reported for 2024 |
Governance Assessment
- Committee breadth and expertise: Membership across Audit (financial expert), ESG, and Conflicts committees supports oversight of financial reporting, sustainability, and related-party matters involving Antero Midstream .
- Independence and attendance: Independent under NYSE rules; Board reported no director below 75% attendance; full attendance at 2024 annual meeting—signals engagement .
- Compensation alignment: Balanced mix of cash retainer and fully-vested equity; director ownership guideline (≥5x retainer) with disclosed compliance enhances alignment .
- Related-party exposure: Material ongoing transactions with Antero Midstream (e.g., $926.1 million gathering/compression fees; $248.9 million water services in 2024), elevating conflict risk; Tyree’s role on the Conflicts Committee is a mitigating governance mechanism .
- Shareholder sentiment: 2024 say‑on‑pay approval ~68% indicates some investor concern on executive pay structure; while not director pay, it is a governance signal for the Board’s Compensation oversight .
- Policies reducing risk: Clawback policy adopted (Nov 30, 2023) aligned with SEC/NYSE; hedging/pledging prohibitions; robust committee independence standards and self‑evaluations .
RED FLAGS
- Significant related-party dependencies with Antero Midstream (ongoing high-dollar service agreements), which require vigilant Conflicts Committee oversight .
- Moderately low say‑on‑pay support (68%) could reflect investor reservations about pay design; warrants continued engagement and responsiveness by the Board .
Positive Signals
- Audit Committee financial expert and multi-committee service enhance board effectiveness .
- Director ownership guideline compliance and prohibitions on hedging/pledging strengthen alignment with stockholders .
- No Section 16 filing delinquencies reported for 2024 .