William Buergler
About William M. Buergler
Independent director of Bank7 Corp. with over two decades of accounting and tax experience; currently Partner at MAP Energy, and formerly Senior Vice President and Chief Accounting Officer at Chesapeake Energy during its 2020 Chapter 11 and 2021 emergence. Age 52; serves on Bank7’s board since September 2019; holds B.S. and M.S. in Accounting from Oklahoma State University; recognized by the board as an audit committee financial expert.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chesapeake Energy Corporation | Senior Vice President & Chief Accounting Officer; previously Vice President − Tax | VP Tax from Jul 2014; CAO Aug 2017–Jun 2021; remained CAO through bankruptcy emergence Feb 9, 2021 | Led accounting through restructuring; maintained CAO post-emergence |
| Ernst & Young LLP | Partner; Senior Manager | Senior Manager 2002–2008; Partner 2009–2014 | Provided audit/tax leadership at Big Four firm |
| Arthur Andersen LLP | Professional staff | 1996–2002 | Early career in audit/tax |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| MAP Energy | Partner | Current | One of the largest privately-owned oil & gas mineral companies |
| Regional Food Bank of Oklahoma | Director | 2016–2018 | Non-profit board service |
Board Governance
- Committees: Audit Committee Chair; Compensation Committee member. Audit Committee met 5 times in 2024; Compensation Committee met 3 times in 2024.
- Independence: Board affirmed Buergler is independent under NASDAQ and SEC rules; he qualifies as an “audit committee financial expert.”
- Attendance: Board met 10 times in 2024; each director attended more than 75% of Board/committee meetings; all directors attended the 2024 Annual Meeting.
- Executive sessions: Board held two executive sessions of independent directors in 2024, presided over by the Audit Committee Chair (an independent director).
- Leadership structure: Roles of Chairman and CEO are separated to avoid conflicts; independent oversight reinforced via committee structure and executive sessions.
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Notes |
|---|---|---|
| 2024 | 46,650 | Monthly structure: non-employee directors $4,000; audit & compensation chairs $4,500; nom/gov chair $4,250. Buergler is Audit Chair. |
Performance Compensation
| Year | Stock Awards ($) | Award Structure |
|---|---|---|
| 2024 | 27,690 | Director stock awards are discretionary grants approved by the Compensation Committee; no performance metrics disclosed for directors. |
Observations: For 2024, director pay mix for Buergler consisted of cash fees plus discretionary equity; no meeting fees are disclosed; equity grants to directors are not tied to specific performance metrics (alignment relies on time-based equity value).
Other Directorships & Interlocks
- Public company boards: None disclosed besides Bank7 Corp.
- Private/non-profit boards: Regional Food Bank of Oklahoma (2016–2018).
- Interlocks/conflicts: No shared directorships with Bank7 competitors/suppliers/customers disclosed; ordinary course banking relationships for directors are subject to policy and regulatory compliance.
Expertise & Qualifications
- Education: B.S. and M.S. in Accounting (Oklahoma State University).
- Technical/functional: Deep accounting and tax expertise; Big Four partnership experience; oil & gas industry accounting leadership; designated audit committee financial expert by board.
- Board qualifications cited: Tax and accounting acumen; leadership experience in workplace and community.
Equity Ownership
| Holder | Form of Ownership | Shares | % Outstanding | Notes |
|---|---|---|---|---|
| William M. Buergler | Beneficial ownership | 5,875 | Less than 1% | Includes trustee of KLB Revocable Family Trust (1,000 shares). No pledging disclosed for Buergler. |
Group context: Directors and executive officers as a group (13 persons) owned 2,449,593 shares (25.81%). Pledging is disclosed for CEO Travis (100,000 shares) and director Phillips (229,000 shares), but not for Buergler.
Governance Assessment
- Strengths:
- Independent Audit Chair with “financial expert” designation; presides over executive sessions, enhancing oversight quality.
- Attendance above 75% threshold; participation in both Audit and Compensation Committees.
- No related-party transactions or share pledging disclosed for Buergler personally; reduces conflict risk.
- Audit Committee report signed by Buergler as Chair, evidencing active oversight of auditor independence and financial reporting.
- Potential risk indicators:
- Prior role as CAO during Chesapeake’s Chapter 11 could raise sensitivity to restructuring contexts; however, continued in role post-emergence, indicating resilience and continuity.
- Director equity is discretionary with no disclosed performance metrics for awards, which can weaken pay-for-performance alignment for directors relative to best practices.
- Company-level governance considerations (contextual):
- Family-related party transactions and significant family ownership (Haines trusts) are disclosed and governed by policy; not directly tied to Buergler, but relevant to overall board independence and potential influence dynamics.
- Formal clawback policy adopted (Rule 10D-1 compliant) applies to executive officers; positive governance feature though not specific to directors.
Bottom line: Buergler’s independence, audit chairmanship, and accounting depth are positives for board effectiveness and investor confidence; absence of personal conflicts/pledging supports alignment. The lack of performance-linked director equity metrics and the company’s concentrated family ownership are areas to monitor for governance robustness.