Eugene T. Minvielle, IV
About Eugene T. Minvielle, IV
Independent director of CKX Lands, Inc. since 2017; age 51. Professional background includes Financial Professional at MSE Partners, LLC and former Chief Financial Officer and Treasurer of Marlin Energy, LLC, bringing oil & gas and financial reporting expertise. The Board has determined he is an independent director under NYSE American rules, and he is also independent for Audit Committee (Rule 10A-3) and Compensation Committee service; he was appointed Lead Independent Director in 2022. He is designated by the Board as an “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Marlin Energy, LLC | Chief Financial Officer and Treasurer (former) | Not disclosed | CFO and financial reporting experience supports Audit Committee chair role and “audit committee financial expert” designation |
| CKX Lands, Inc. | Director | Since 2017 | Lead Independent Director since 2022; Audit Committee Chair; Compensation Committee member |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| MSE Partners, LLC | Financial Professional | Not disclosed | Current professional affiliation; no other public company directorships disclosed for Minvielle in the 2025 proxy |
Board Governance
- Roles and independence: Independent director; Lead Independent Director since 2022. Independent for Audit and Compensation Committees; designated “audit committee financial expert.”
- Leadership structure: Board Chair is also the Company’s President; independent directors met once in executive session in 2024; LID responsibilities include presiding over meetings when Chair absent, approving Board materials/agendas/schedules, and calling independent director meetings.
- Meetings and attendance: Board held 5 meetings in 2024; Audit Committee held 4; Compensation and Nominating Committees held no meetings in 2024. Only Director Englander was disclosed as attending fewer than 75%—no attendance shortfall was disclosed for Minvielle.
- Committee assignments (current):
- Audit Committee: Chair (members: Englander, LaMure)
- Compensation Committee: Member (Chair: Englander; other member: Hart)
- Nominating Committee: Not listed as member (Chair: Duplechin; member: LaMure)
| Governance Item | Detail |
|---|---|
| Lead Independent Director | Appointed 2022; broad responsibilities over agendas, schedules, information flow, and independent director sessions |
| Independence | Independent director; independent for Audit (Rule 10A-3) and Compensation Committees |
| Audit Committee Expertise | Designated “audit committee financial expert” |
| Board Meetings 2024 | 5 (independent directors held 1 executive session) |
| Audit Committee Meetings 2024 | 4 |
| Compensation Committee Meetings 2024 | 0 |
| Nominating Committee Meetings 2024 | 0 |
Fixed Compensation
- Fee policy (2024): Directors are paid per meeting only. Board meeting fees: $1,000 for the Chairperson of the meeting; $600 per attending member; $200 for non-attending members. Audit Committee Chair receives $1,000 per committee meeting; no fees for Compensation or Nominating Committees.
| 2024 Director Fee Schedule | Chairperson | Member Attending | Member Non-Attending |
|---|---|---|---|
| Board of Directors | $1,000 | $600 | $200 |
| Audit Committee | $1,000 | — | — |
| Compensation Committee | — | — | — |
| Nominating Committee | — | — | — |
| 2024 Actual Fees Paid | Amount |
|---|---|
| Eugene T. Minvielle, IV | $6,400 |
Note: W. Gray Stream declined director fees following his appointment as President; Company Secretary receives an additional $300 per regular meeting attended (applies to Mr. Boyer).
Performance Compensation
- No director equity awards, options, or performance-based compensation were disclosed for 2024; director compensation is meeting-fee-driven.
| Program | Performance Metric(s) | Terms | Status |
|---|---|---|---|
| Equity awards (Directors) | N/A | No director equity program disclosed | None disclosed |
| Option awards (Directors) | N/A | No option program disclosed | None disclosed |
Other Directorships & Interlocks
| Company | Exchange | Role | Committees | Interlock/Conflict Notes |
|---|---|---|---|---|
| None disclosed for Minvielle | — | — | — | 2025 proxy does not list any other public company board roles for Minvielle |
Expertise & Qualifications
- Financial expert and audit leadership: Designated “audit committee financial expert”; chairs the Audit Committee.
- Oil & gas and finance: Former CFO/Treasurer of Marlin Energy; current Financial Professional at MSE Partners.
- Board leadership: Lead Independent Director with defined responsibilities over information flow, agendas, schedules, and independent sessions.
- Independence: Independent under NYSE American standards; independent for Audit (Rule 10A-3) and Compensation Committees.
Equity Ownership
| Ownership Item | Detail |
|---|---|
| Shares Beneficially Owned | 1,000 |
| Ownership % of Outstanding | <1% (asterisk denotes less than 1%) |
| Shares Outstanding (reference) | 2,027,032 as of April 4, 2025 |
| Ownership Form | Unless otherwise noted, sole voting and dispositive power |
| Pledged/Hedged | Hedging and derivative transactions in CKX securities are prohibited by policy; pledging not discussed |
Insider Filings and Trading
| Item | Detail |
|---|---|
| Section 16(a) Compliance (2024) | Proxy reports late Form 4s for Stream and Stepp related to award vesting; no other failures to file timely were reported—no issues disclosed for Minvielle. |
| Hedging/Derivatives Policy | Hedging and CKX-based derivative transactions prohibited for insiders, including directors. |
Governance Assessment
-
Positives
- Independence and oversight: Independent director, Lead Independent Director since 2022, Audit Committee Chair, and “audit committee financial expert” designation underpin strong governance credentials.
- Risk controls: Robust insider trading policy prohibiting hedging and derivative transactions; Audit Committee independence confirmed, with clear pre-approval policies and auditor independence disclosures.
- Alignment and modest pay: Director compensation is modest and meeting-based; no director equity or options that could misalign incentives.
-
Watch items
- Combined Chair/President structure: Board Chair is also the President; mitigated by a defined Lead Independent Director role and at least one executive session in 2024.
- Committee activity gaps: Compensation Committee held no meetings in 2024; Nominating Committee also held none; Compensation Committee lacks a formal charter—could indicate lighter oversight cadence (context: small-cap simplicity noted by the company).
- Related-party exposure at company level: Disclosed transactions and relationships relate to the President and affiliated entities (Stream Wetlands; MSM services) rather than Minvielle but represent governance context for the Board.
-
Attendance
- Only one director (Englander) was disclosed as attending fewer than 75% in 2024; no attendance shortfall disclosed for Minvielle.
RED FLAGS
- Compensation Committee did not meet in 2024; Nominating Committee did not meet in 2024; Compensation Committee has no charter.
- Combined Chair/President structure (reliance on LID for counterbalance).
- Related-party arrangements involving the President and affiliates (not involving Minvielle).