Amy Thompson Broussard
About Amy Thompson Broussard
Executive Vice President and Chief Human Resources Officer (CHRO) of Excelerate Energy, Inc. and of Excelerate Energy Limited Partnership since September 2021 (EELP since December 2020). She holds a BA from Louisiana State University and an MBA from the University of Dallas, and was 48 years old as of the 2025 proxy filing date . Background includes senior HR leadership across energy services and industrials with a focus on talent management and executive compensation program design . Company performance during her tenure includes record FY2024 net income of $153 million and record Adjusted EBITDA of $348 million; management also highlighted a 117.7% YoY increase in total shareholder return (TSR) and a dividend step-up, underscoring pay-for-performance alignment in incentive design .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Apergy Corporation | SVP & CHRO | 2018–2020 | Established HR function, talent management, and executive compensation programs for a newly formed oilfield technology/services company . |
| Dover Energy (Dover Corporation segment) | Segment HR Vice President | 2014–2018 | Led segment HR for diversified industrial manufacturer’s energy segment . |
| Baker Hughes | Various HR roles | 1998–2014 | Progressive HR leadership at a global oilfield services company . |
| Oxy Oil and Gas | Human Resources Advisor | (prior to 1998) | HR advisory role in upstream E&P . |
Fixed Compensation
| Metric | FY 2022 | FY 2023 |
|---|---|---|
| Base Salary ($) | $350,000 | $365,000 |
| Target STIP (% of salary) | 55% | 55% |
| Actual STIP Paid ($) | — | $249,800 |
| Other cash bonuses | — | $52,500 retention installment (Oct 2023) |
Notes: 2023 STIP payout reflected company and individual goal achievement; 2022 actual STIP for Ms. Broussard is not disclosed in the SCT (she first appears as a NEO in 2023) .
Performance Compensation
Short-Term Incentive Plan (STIP) Design and 2023 Outcomes
- 2023 STIP metrics and weights (NEO plan): Incentive Adjusted EBITDA (50%), G&A and Operating Expenses (15%), Safety Performance (15%), Individual and Strategic Goals (20%) .
- 2023 results vs goals (enterprise component, before individual goals) :
- Incentive Adjusted EBITDA: Target $288m; Actual $324.5m (113% of target; weighted payout 71.0%) .
- G&A and Operating Expenses: Target $316m; Actual $338m (94% of target; weighted payout 9.9%) .
- Safety Performance: Achievement 125% (weighted payout 18.75%) .
- Aggregate prior to individual goals: 99.65% of target .
- Individual and strategic goal factor: NEOs ranged 75%–124% in 2023; Ms. Broussard’s total STIP paid $249,800 (124.43% of target) .
| 2023 STIP Element | Threshold | Target | Stretch | Max | Actual | Achievement | Weighted payout |
|---|---|---|---|---|---|---|---|
| Incentive Adj. EBITDA ($m) | $231 | $288 | $332 | $360 | $324.5 | 113% | 71.00% |
| G&A and Operating Exp. ($m) | $348 | $316 | — | $285 | $338 | 94% | 9.90% |
| Safety Performance | — | — | — | — | — | 125% | 18.75% |
2025 plan update (for company NEO plan): metrics reweighted to Incentive Adjusted EBITDA (45%), Business Development (25%), Safety (10%), and Individual/Strategic (20%), indicating a shift toward growth origination as a key driver .
Long-Term Incentives (LTI)
- 2023 annual grants (awarded March 31, 2023): 50% RSUs (3-year ratable vesting) and 50% PSUs (3-year performance), with PSU metrics split between Relative TSR and Incentive Adjusted EBITDA .
- Grant detail (accounting/target basis) :
- RSUs: 6,475 units; grant value $139,990–$140,000; vest ratably over 3 years from 3/31/2023 .
- PSUs (total target): 6,475 units; divided between Relative TSR (target 3,237; payout 0–200%) and Incentive Adjusted EBITDA (three annual sub-tranches; Year 1 target 1,079; payout 0–200%); 2024/2025 EBITDA tranches are granted as later-year performance goals are set .
- Outstanding equity (12/31/2023): Options 1,777 exercisable/7,112 unexercisable at $24.00, expiring 4/13/2032; Unvested RSUs 6,475; PSUs shown per SEC presentation (relative TSR at threshold; EBITDA at maximum) .
| LTI Type | Key terms | Quantity / Terms |
|---|---|---|
| Stock Options | Grant date 4/13/2022; $24.00 strike; 5-year ratable vest; expires 4/13/2032 | 1,777 exercisable / 7,112 unexercisable at 12/31/2023 |
| RSUs (2023) | 3-year ratable vest from 3/31/2023 | 6,475 units; ~$140k grant date value |
| PSUs (2023) | 3-year performance (1/1/2023–12/31/2025); Relative TSR vs Vanguard Energy ETF constituents; EBITDA sub-tranches set annually; payout 0–200% | Target total 6,475; Relative TSR target 3,237; EBITDA Year 1 target 1,079 |
Notes: 2023 report states no NEO option exercises or stock vestings during 2023 .
Equity Ownership & Alignment
- Beneficial ownership (direct and within 60-day acquisition rights under SEC rules):
- As of April 8, 2024: 6,688 Class A shares; also “includes options to purchase 3,555 shares that vest within 60 days” (footnote (5)); less than 1% of outstanding .
- As of April 14, 2025: footnote indicates 7,234 Class A shares and options to purchase 5,333 shares vesting within 60 days attributed to Ms. Broussard (aggregated in group footnote) .
- Stock ownership guidelines: Other executive officers must hold 2x base salary; five-year compliance window; restrictions on share sales and 75% post-tax retention until compliant .
- Anti-hedging/pledging: Company prohibits hedging and pledging/margining of company securities — reducing alignment and liquidity risk concerns .
| Date | Class A shares | Options (vesting within 60 days) | % of Class A |
|---|---|---|---|
| 4/8/2024 | 6,688 | 3,555 (within 60 days) | <1% |
| 4/14/2025 | 7,234 (footnote attribution) | 5,333 (within 60 days) | <1% (not a named line; implied) |
Vesting schedules and potential selling pressure:
- RSUs vest annually over three years (2023 award through 2026) and PSUs cliff-vest after the 3-year performance period (through 12/31/2025), creating periodic settlement events .
- Options from 2022 vest annually over five years through 2027; strike $24.00, 10-year term to 2032 .
Employment Terms
Excelerate maintains Executive Severance and Change-in-Control (CIC) Severance Plans. For NEOs other than the CEO, severance equals 1.5x base salary plus target STIP (non-CIC), rising to 2.0x under CIC; pro-rata target bonus; benefits continuation (18 months non-CIC/24 months CIC), and outplacement up to $10,000; equity acceleration on qualifying termination detailed below .
| Scenario (as of 12/31/2023) | Cash Severance | Benefits Continuation | Outplacement | Equity acceleration |
|---|---|---|---|---|
| Death or Disability | $0 | $0 | $0 | Options fully accelerate; RSUs fully accelerate; PSUs vest at target |
| Termination without Cause / Good Reason (non‑CIC) | $848,625 | $0 (receives benefits via spouse) | $10,000 | No accelerated vesting (per award terms) |
| Termination without Cause / Good Reason (within 24 months of CIC) | $1,131,500 | $0 (spousal coverage) | $10,000 | Options and RSUs fully vest; PSUs vest at greater of target or actual to date of CIC |
Clawback policies: Robust discretionary clawback for restatements, materially inaccurate performance calculations, or egregious conduct, plus mandatory NYSE/Dodd‑Frank clawback of excess incentive compensation for restatements (three-year lookback) .
Investment Implications
- Alignment and risk: High proportion of at‑risk pay (STIP and PSUs) tied to EBITDA and TSR keeps incentives sensitive to performance; prohibitions on hedging/pledging and ownership guidelines reinforce alignment and reduce governance risk .
- Vesting/catalysts: 2023 PSU cohort is scheduled to certify post 12/31/2025; 2023 RSUs vest annually through 2026; 2022 options vest through 2027. These create periodic supply overhangs from equity settlements; option strike ($24) vs 12/31/2024 price ($30.25) suggests potential in-the-money options after 2024, though option exercise behavior is uncertain .
- Pay-for-performance evidence: 2024 results (record net income and Adjusted EBITDA) and noted 117.7% YoY TSR increase supported above-target 2023 STIP outcomes and a continued emphasis on growth via 2025 Business Development metric weighting .
- Governance context: Excelerate is a “controlled company” under NYSE rules; compensation and nominating committees are not required to be fully independent, which can elevate governance risk perceptions, although an independent director chairs Compensation Committee and comprehensive clawbacks/ownership policies are in place .
Appendix: Additional Reference Details
- Executive biography: Excelerate CHRO since 2021; EELP CHRO since 2020; prior HR leadership at Apergy, Dover Energy, Baker Hughes, and Oxy; LSU BA; University of Dallas MBA .
- 2023 NEO status and compensation disclosure: Ms. Broussard is a 2023 NEO (SCT shows salary $365,000; stock awards $261,506; STIP $249,800; other comp $3,833; total $932,639) .
- Beneficial ownership tables and footnotes: 2024 named line shows 6,688 shares; footnotes specify near-term option vesting counts; 2025 group footnote attributes 7,234 shares and 5,333 near-term vesting options to Ms. Broussard .