Thomas Wood
About Thomas Wood
Thomas Wood (age 68) serves as an independent director of ECD Automotive Design, Inc. (ECDA) and is nominated for re‑election as the Class II director for a term ending in 2028; he holds a BA in Economics from the University of Calgary . The Board designated him an “audit committee financial expert” under SEC rules, reflecting finance/accounting sophistication and financial literacy per Nasdaq standards . Mr. Wood’s background spans 35+ years founding, leading, and taking energy services companies public, including SPAC sponsorship/CFO experience at National Energy Services Reunited Corp. (NASDAQ: NESR) and a long tenure as CEO of Round Up Resource Service Inc., a private investment company .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Round Up Resource Service Inc. | Chief Executive Officer | Since Dec 1990 | Private investment co.; long-term leadership |
| Xtreme Drilling Corp. (TSX: XDC) | Executive Chairman; later CEO & Director | Exec Chair: May 2005–May 2011; CEO/Director: May 2011–Aug 2016 | Founded coil tubing tech/drilling firm; public markets experience |
| Savanna Energy Services Corp. (TSE: SVY) | Chairman | 2001–Mar 2005 | North American energy services provider |
| Wrangler West Energy Corp. | Director | Apr 2001–2014 | Junior E&P oversight |
| New Syrus Capital Corporation | Director | 1998–2001 | Junior energy company |
| Player Petroleum Corporation | Director | 1997–2001 | Junior energy company |
| Plains Energy Services Ltd. | President, Drilling & Wellbore Service | 1997–2000 | Operations leadership |
| Wrangler Pressure Control | President | 1998–2001 | Pressure control operations |
| Round‑Up Well Servicing Inc. | President | 1988–1997 | Well servicing operations |
| Shelby Drilling | Vice President | 1981–1987 | Drilling operations |
| National Energy Services Reunited Corp. (NESR) | Sponsor and CFO (SPAC) | 2017 (IPO sponsor); business combination June 6, 2018; remains active board member | Led SPAC IPO/merger; board service continues |
| EFHT | Independent Director | Prior service | Independent directorship noted |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Advanced Mining Drilling Technologies LLC (private) | Executive Chairman & Founder | Since 2022 | Developing battery metals extraction tech |
| XtremeX Mining Technology Corp. | Chairman & Co‑Founder | Current | Coil tubing patented mining tech for precious/battery metals |
| National Energy Services Reunited Corp. (NASDAQ: NESR) | Sponsor/CFO; Active Board Member | Sponsor/CFO since 2017; active board member post‑merger (2018) | Energy services; public company governance experience |
| Round Up Resource Service Inc. | CEO | Since Dec 1990 | Private investment company |
Board Governance
- Independence: The Board determined Thomas Wood is independent under Nasdaq rules; ECDA’s Board has a majority of independent directors .
- Committee assignments:
- Audit Committee: Chair (members: Thomas Wood, Robert Machinist, Patrick Lavelle). Wood designated audit committee financial expert; committee oversees auditor, pre-approvals, related party approvals, legal/compliance .
- Compensation Committee: Member (chair: Patrick Lavelle; members: Lavelle, Robert Machinist, Thomas Wood) .
- Nominating Committee: Member (chair: Robert Machinist; members: Machinist, Patrick Lavelle, Thomas Wood). Committee sets director criteria, oversees related party policy, succession planning, and independence standards .
- Classified board structure: Class II term for Thomas Wood; nominated for re‑election to 2028 .
- Shareholder support (Annual Meeting voting – Item 5.07):
Proposal Votes For Against Abstain Broker Non‑Votes Elect Thomas Wood (Class II, to 2028) 25,126,435 285,444 24,279 0
Fixed Compensation
| Component | Amount | Frequency/Terms | Notes |
|---|---|---|---|
| Cash meeting fee | $12,500 | Per quarterly Board meeting attended | Up to $50,000 per year cap |
| Annual retainer | Not disclosed | — | No annual retainer disclosed; plan specifies per‑meeting fees |
| Committee/chair fees | Not disclosed | — | No committee/chair fees disclosed |
| Meeting fees (non‑Board) | Not disclosed | — | Only Board quarterly meeting fee disclosed |
Performance Compensation
| Instrument | Grant Size | Price/Strike | Grant Date | Vesting | Performance Metrics | Change‑of‑Control Treatment |
|---|---|---|---|---|---|---|
| Stock Options (one‑time) | Up to 15,000 shares | Exercise price = 110% of Closing Date price | Not disclosed | Not disclosed | None disclosed for directors | Committee may accelerate vesting of awards, including upon change of control (plan feature) |
| RSUs/PSUs | Not disclosed | — | — | — | Plan permits Performance Awards generally; none disclosed for directors | Plan feature only |
No director‑specific performance metrics (TSR, EBITDA, ESG) are disclosed; director equity comprises a one‑time option grant rather than recurring PSU/RSU awards .
Other Directorships & Interlocks
| Company | Listing | Role | Overlap/Interlock Considerations |
|---|---|---|---|
| National Energy Services Reunited Corp. (NESR) | NASDAQ | Sponsor/CFO; Active Board Member | Energy services exposure; no ECDA transactions disclosed in retrieved sections |
| Xtreme Drilling Corp. | TSX (XDC) | Executive Chairman; CEO/Director | Prior leadership; no ECDA transactions disclosed |
| Savanna Energy Services Corp. | TSE (SVY) | Chairman | Prior role |
| Wrangler West Energy Corp. | — | Director | Prior role |
| New Syrus Capital Corporation | — | Director | Prior role |
| Player Petroleum Corporation | — | Director | Prior role |
| EFHT | — | Independent Director | Prior role |
Expertise & Qualifications
- Audit committee financial expert under SEC rules; financially literate per Nasdaq standards .
- Extensive public company formation/IPO/SPAC experience and energy services operating leadership .
- Executive leadership across drilling, wellbore services, pressure control, and investment management .
- Education: BA in Economics (University of Calgary) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | As of | Shares Outstanding |
|---|---|---|---|---|
| Thomas Wood | 100,000 | <1% | Record date July 2, 2025 | 47,582,259 |
- Vested vs unvested shares: Not disclosed .
- Options held (director‑specific): Not disclosed in beneficial ownership table; director policy provides eligibility for a one‑time 15,000‑share option grant .
- Pledged/hedged shares: Not disclosed in retrieved sections .
- Stock ownership guidelines for directors: Not disclosed in retrieved sections .
Governance Assessment
- Board effectiveness: Positive indicators include Wood’s chair role on Audit, designation as audit committee financial expert, and membership on Compensation and Nominating Committees, aligning oversight of financial reporting, pay, and director selection with an experienced independent . Shareholder support was strong at 98.78% of shares present voting “FOR” his re‑election, indicating investor confidence in his governance contribution .
- Incentives and alignment: Director compensation is modest and meeting‑attendance based ($12,500 per quarterly meeting, max $50,000/year) plus a one‑time option grant (up to 15,000 shares at 110% of Closing Date price), offering limited ongoing performance linkage; plan allows performance awards generally, but none are disclosed for directors . Beneficial ownership of 100,000 shares (<1%) provides some alignment, though not concentrated .
- Independence and conflicts: ECDA’s Board determined Wood is independent; Audit and Nominating Committees oversee related‑party transactions and independence standards, providing structural safeguards . Wood’s ongoing roles in mining technology and NESR introduce potential external interests, but no ECDA related‑party transactions involving Wood are disclosed in the retrieved sections; Audit Committee pre‑approves any Item 404 transactions .
- Structure and shareholder oversight: ECDA’s classified board persists, with Class II re‑elections; while the proxy emphasizes reverse split and equity plan amendments, the director vote specifically affirmed Wood’s seat through 2028 .
RED FLAGS
- No disclosed attendance rates; reliance on per‑meeting fees raises engagement questions without formal attendance reporting .
- Equity grant is one‑time options (not recurring PSUs/RSUs); limited ongoing pay‑for‑performance features specific to directors .
- Plan permits vesting acceleration upon change‑of‑control (committee discretion), which can weaken performance conditioning if applied broadly .
- Classified board structure may reduce annual accountability to shareholders (context from proxy proposals); however, Wood received strong support in 2025 vote .
Notes and Omissions (due to disclosure limits in retrieved documents)
- Director meeting attendance detail, committee chair stipends, vesting schedules, hedging/pledging, clawback terms, and stock ownership guidelines for directors are not disclosed in the retrieved sections of the 2025 DEF 14A and related filings .