H.C. Allen, Jr.
About H.C. Allen, Jr.
H.C. Allen, Jr., age 86, is an independent manager of Dorchester Minerals Management GP LLC and has served on the Board of Managers since 2001; he was Chief Financial Officer of Dorchester Minerals Operating GP LLC and Dorchester Minerals, L.P. from 2001 to May 2015. He holds a BBA from the University of Texas and an MBA from the University of North Texas, and co-founded multiple mineral and royalty companies with DMLP leadership, reflecting deep finance and oil & gas royalty expertise . The Board has affirmatively determined Mr. Allen is “independent” under NASDAQ rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Dorchester Minerals Management GP LLC | Manager (Board of Managers) | 2001–present | Independent; participates in nominations with GP members |
| Dorchester Minerals Operating GP LLC | Chief Financial Officer | 2001–May 2015 | Led finance; history managing properties |
| Dorchester Minerals, L.P. | Chief Financial Officer | 2001–May 2015 | Finance leadership for the Partnership |
| SASI Minerals Company | Co-Founder | 1988 | Royalty/mineral venture co-founded with W.C. McManemin |
| Republic Royalty Company | Co-Founder | 1993 | Co-founded royalty company |
| Spinnaker Royalty Company, L.P. | Co-Founder | 1996 | Co-founded royalty partnership |
| CERES Resource Partners, LP | Co-Founder | 1998 | Co-founded resource partnership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SASI Minerals Company | Co-Founder | 1988 | Private enterprise; not disclosed as a public company directorship |
| Republic Royalty Company | Co-Founder | 1993 | Private enterprise; not disclosed as a public company directorship |
| Spinnaker Royalty Company, L.P. | Co-Founder | 1996 | Private enterprise; not disclosed as a public company directorship |
| CERES Resource Partners, LP | Co-Founder | 1998 | Private enterprise; not disclosed as a public company directorship |
No other current public company directorships are disclosed in the proxy biography for Mr. Allen .
Board Governance
- Board structure: DMLP is governed through the Board of Managers of Dorchester Minerals Management GP LLC (general partner’s GP); Chairman is William Casey McManemin, with separation of Chair and CEO roles .
- Independence: The Board determined Mr. Allen is independent under NASDAQ rules; a majority of the Board is independent .
- Committee assignments: The Advisory Committee functions as both Audit and Compensation Committees; current members are Messrs. Lassiter and Russell, and (until his term ends) Mr. Trout, with Ms. Wariner to join post-2025 meeting. Mr. Allen is not listed as a member of the Advisory Committee .
- Audit Committee: Has a written charter; members are financially literate and deemed “audit committee financial experts”; no member participated in financial statement preparation in the prior three years .
- Nominating: No nominating committee; nominations are made by members of the GP’s GP, which includes appointed managers such as Mr. Allen .
- Attendance and engagement: Board held nine meetings in fiscal 2024; each manager attended at least 75% of Board and applicable committee meetings. Seven of nine managers attended the 2024 Annual Meeting (individual attendance not specified) .
Fixed Compensation
| Component | 2024 Amount (USD) | Notes |
|---|---|---|
| Annual Board retainer (Appointed Manager) | $0 | Appointed Managers receive no remuneration for Board service |
| Advisory Committee retainer | N/A | Only Advisory Committee members receive $35,000; Mr. Allen is not a member |
| Meeting fees (special committees) | $0 | Only Advisory Committee members receive $1,500 per special committee meeting; none held in 2024 |
Performance Compensation
| Performance-linked Element | Status | Notes |
|---|---|---|
| Director equity grants (RSUs/PSUs/Options) | None disclosed | Proxy discloses no equity awards for directors; Appointed Managers receive no remuneration |
| Performance metrics tied to director pay | Not applicable | No director performance pay program disclosed |
Other Directorships & Interlocks
| Type | Entity | Nature | Potential Interlock/Conflict Notes |
|---|---|---|---|
| Shared entity interests | SAM Partners Management, Inc. | 5,531 units included in Mr. Allen’s beneficial ownership; Allen is Secretary and shareholder; also attributed to Mr. McManemin; disclaimers of economic interest | |
| Shared entity interests | Smith Allen Oil & Gas, LLP | 53,224 units included in Mr. Allen’s beneficial ownership; Allen is Secretary and shareholder; also attributed to Mr. McManemin; disclaimers of economic interest | |
| Personal/Trust holdings | Allen Credit Shelter Trust | 30,600 units; Allen is Trustee | |
| Personal | Individual/IRA/Keogh | 30,608 units | |
| Private company | Rabbitfoot Investments, LLC | 154,840 units; controlled via RR&CC entities and family trusts; Allen disclaims beneficial ownership in part | |
| Private company | Mega Petroleum, Inc. | 8,420 units; Allen is President; disclaims beneficial ownership |
Board resolves conflicts via Advisory Committee review and fairness standards under the Partnership Agreement .
Expertise & Qualifications
- Deep financial and managerial experience in the oil & gas royalty space; extensive history managing properties held by the Partnership .
- Education: BBA (University of Texas), MBA (University of North Texas) .
- Prior CFO tenure at DMLP entities (2001–2015) enhances audit and financial oversight acumen .
Equity Ownership
| Holder/Vehicle | Units Beneficially Owned | Notes |
|---|---|---|
| Total (Mr. Allen, Jr.) | 283,223 | Less than 1% of outstanding units |
| Allen Credit Shelter Trust | 30,600 | Allen is Trustee |
| Individual/IRA/Keogh | 30,608 | Direct holdings |
| Rabbitfoot Investments, LLC | 154,840 | Ownership via RR&CC entities; partial disclaimers |
| SAM Partners Management, Inc. | 5,531 | Secretary/shareholder; disclaimers; shared with McManemin |
| Smith Allen Oil & Gas, LLP | 53,224 | Secretary/shareholder; disclaimers; shared with McManemin |
| Mega Petroleum, Inc. | 8,420 | President; disclaims beneficial ownership |
| Units outstanding (record date) | 47,339,756 | For percentage context |
Approximate ownership percentage: ~0.60% (283,223 ÷ 47,339,756) based on disclosed units outstanding .
Section 16(a): No delinquent filings noted for Mr. Allen; late filings in 2024 pertained to other insiders (Ehrman, Moriyama, McManemin) .
Governance Assessment
- Strengths:
- Independent status; long-tenured financial leadership background supports board effectiveness in audit/finance matters .
- High aggregate Board meeting attendance; formal Audit Committee charter; members deemed financial experts; robust insider trading and hedging prohibitions (no short sales, no publicly traded options) .
- Appointed Managers receive no director remuneration, reducing monetary conflicts tied to board fees .
- Watch areas / potential conflicts:
- Nominations controlled by members of the GP’s GP; absence of a nominating committee may limit independent pipeline and diversity policy; appointed managers (including Mr. Allen) participate in nominations .
- Shared holdings and governance ties (SAM Partners Management, Inc.; Smith Allen Oil & Gas, LLP) with the Chairman indicate related affiliations; however, beneficial ownership disclaimers are noted, and conflicts are processed through the Advisory Committee with fairness standards .
- Advisory Committee (Audit/Compensation) membership excludes Mr. Allen; while independence is affirmed, direct committee oversight experience is not indicated for him .
Overall, Mr. Allen’s long-standing financial expertise and unit ownership suggest alignment, but nomination structure and shared entity interests warrant ongoing monitoring for related-party dynamics and board refresh practices .