Jeffrey Shellebarger
Director at CTRA
Board
About Jeffrey E. Shellebarger
Jeffrey E. Shellebarger (age 68) is a first‑term independent director nominee to Coterra’s Board, with over 40 years of global oil and gas operating leadership at Chevron, including serving as President of Chevron’s North American E&P Operating Company (2013–2019); he holds B.S. and M.S. degrees in Geology from the University of Georgia . If elected, his Board service would commence following Coterra’s April 30, 2025 annual meeting; his committee assignments will be set after election . He is currently not reported as owning Coterra shares as of March 6, 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chevron Corporation | President, North American Exploration & Production Operating Company | 2013–2019 | Led six business units across U.S. and Canada; deep E&P operating and leadership experience |
| Chevron Corporation | President & Managing Director, IndoAsia Business Unit | 2010–2012 | International operating leadership |
| Chevron Pacific Indonesia | Executive Director | 2007–2011 | Regional oversight in Indonesia |
| Chevron | General Manager, Asset Development, Southern Africa SBU | 2003–2006 | Strategic asset development leadership |
| Chevron | General Manager, San Joaquin SBU | 2003–2006 | U.S. onshore operations leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Texans for Lawsuit Reform | Board Member | Current | Governance/public policy experience |
| Greater Houston Partnership | Board Member; Executive Committee | Current | Regional economic leadership network |
| American Petroleum Institute – Upstream Committee | Chair | 2018 (prior) | Industry policy/standards leadership |
Board Governance
- Independence: The Board determined all nominees other than the CEO are independent; Shellebarger is marked independent in his bio .
- Committee assignments: To be determined post‑election at the 2025 annual meeting .
- Executive sessions: Led by an independent director at all Board and committee meetings .
- Attendance baseline: The Board met nine times in 2024; all directors met ≥75% attendance; Shellebarger was not yet a director in 2024 .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $105,000 | Non‑employee directors; no meeting fees |
| Annual equity retainer (RSUs) | $200,000 | Issued as RSUs; 7,123 RSUs granted in 2024 to each non‑employee director; dividend equivalents accrue until vest |
| Lead Independent Director fee | $40,000 | Additional cash retainer |
| Committee Chair fee | $20,000 | Governance & Social Responsibility co‑chairs split chair retainer |
| Director fee changes (2025–2026 term) | $210,000 equity retainer | Approved November 2024; other components unchanged |
| Deferred compensation option | Available | Directors may defer cash/equity retainers into RSUs payable upon Board departure |
Performance Compensation
- Directors do not receive performance‑based pay; the equity is time‑based RSUs and there are no option awards or meeting fees disclosed in the 2024 director compensation table .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Prior public company boards | None disclosed |
| Related‑party transactions | None disclosed for Shellebarger; Board reviewed independence and related transactions for other directors only (Boswell/Laramie; Brock/Aris) and found no impairment of independence . |
Expertise & Qualifications
- Technical: Geology (B.S., M.S.)—University of Georgia .
- Operational: U.S. and international E&P leadership; strategy, stakeholder engagement, and regulatory policy expertise .
- Governance/Public Policy: Leadership roles at Greater Houston Partnership, Texans for Lawsuit Reform; prior API Upstream Committee Chair .
Equity Ownership
| Holder | Shares Owned | % of Class | Notes |
|---|---|---|---|
| Jeffrey E. Shellebarger | — | — | No beneficial ownership reported as of March 6, 2025 |
- Stock ownership guidelines: Directors must hold 5× annual cash retainer; compliance window five years from initial election .
- Hedging/pledging: Prohibited for directors and officers under insider trading policy .
Governance Assessment
- Board effectiveness: Brings deep E&P operating experience and strategic perspective; independence affirmed; committee roles to be set post‑election—monitor for placement on Audit/EHS given his background .
- Alignment: Director pay structure is standard (cash + time‑based RSUs) with no performance metrics or options; ownership guideline should build alignment over time; initial lack of reported holdings is a watchpoint until guidelines are met .
- Conflicts: No related‑party exposures or business dealings disclosed for Shellebarger; Board’s related‑party reviews did not identify him in transactions, reducing conflict risk .
- Engagement: Board uses executive sessions led by independents, annual evaluations, and orientation/continuing education—strong governance processes to support a new director’s integration .