William E. Dozier
About William E. Dozier
William E. Dozier, age 73, has served as an independent director of Evolution Petroleum since 2005. He is a Registered Petroleum Engineer in Texas with 48+ years of oil and gas industry experience; he earned a B.S. in Petroleum Engineering from The University of Texas at Austin. Dozier is President of Extex Consulting, Inc. (since 2005) and currently chairs EPM’s Compensation and Reserves Committees, with additional service on the Investment Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Extex Consulting, Inc. | President | 2005–present | Independent oil & gas consulting; executive leadership and financial decision-making |
| Vintage Petroleum; Santa Fe Minerals | Senior roles (various) | Prior to 2005 | Operations management, M&A experience |
| Amoco Production Company | Engineer | Career began in 1975 | Engineering foundation in upstream operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| UT Austin Cockrell School of Engineering (Petroleum & Geosystems Engineering) | External Advisory Committee member | Not disclosed | Academic advisory role |
| National Association of Corporate Directors | Member | Not disclosed | Governance credentials |
| Private/charitable boards | Director | Not disclosed | Prior service on several boards |
Board Governance
- Committee leadership: Chair, Compensation Committee; Chair, Reserves Committee; Member, Investment Committee .
- Independence: Board determined Dozier is an independent director under NYSE American rules .
- Attendance and engagement: Board met 7 times in FY2025; each director attended 100% of Board and all committee meetings on which they served . FY2025 committee meeting counts: Audit (4), Compensation (3), Nominating & Corporate Governance (2), Investment (3), Sustainability (2), Reserves (4) .
- Lead Independent Director: Role held by Edward J. DiPaolo; Board holds regular executive sessions of non-management directors .
- Mandatory retirement policy: Directors generally not eligible for re-election after age 75 unless unanimously waived by disinterested directors; Dozier is 73, implying near-term succession planning relevance .
Fixed Compensation (Director)
| Component | Amount | Detail |
|---|---|---|
| Annual cash retainer | $50,000 | Standard non-employee director retainer |
| Committee chair fees | $12,000 (Compensation); $6,000 (Reserves) | Per annum chair fees |
| Meeting fees | $1,500/day (in-person); $1,000/day (remote); max 2 fees/day | Applies to Board and committees |
| FY2025 fees earned (cash) | $96,871 | Includes retainer, chair fees, meeting fees, reimbursed expenses |
| Dividends on unvested RS | $8,311 | Included in “All Other Compensation” |
| FY2025 total compensation | $204,485 | Cash + stock awards + dividends |
Performance Compensation (Director and Committee Policy)
| Component | Grant/Value | Vesting/Terms |
|---|---|---|
| Annual director restricted stock grant | ~$100,000 per year | Awarded at each annual meeting; time-vested, typically vests at earlier of 1 year from grant or next annual meeting |
| FY2025 director stock award (grant-date fair value) | $99,303 | Time-vested RS under stock plan |
| Unvested RS at FY2025 year-end | 17,483 shares; $82,170 market value | Vests on earlier of Dec 5, 2025 or Dec 4, 2025 (annual meeting) |
Performance metrics used for executive STIP under Dozier’s Compensation Committee oversight (illustrates pay-for-performance framework):
| Metric Category | Weight % |
|---|---|
| Asset Management | 30% |
| Reserve Replacement | 20% |
| Total Shareholder Return | 15% |
| Dividend Level | 15% |
| Capital Management | 5% |
| Environmental, Social and Governance | 5% |
| Discretionary | 10% |
Committee execution: FY2025 corporate performance was assessed at 95% of target, driving STIP outcomes for executives; Compensation Committee met 3 times in FY2025 .
Other Directorships & Interlocks
- Current public company boards: None disclosed for Dozier .
- Compensation Committee interlocks: None; no Company executive serves on another entity’s board/comp committee that has officers serving on EPM’s Board/Compensation Committee .
Expertise & Qualifications
- Registered Petroleum Engineer (Texas); B.S. Petroleum Engineering, UT Austin .
- 48+ years in oil & gas; executive leadership; operations; M&A; energy sector development; cybersecurity knowledge; outside board service .
- Governance credentials (NACD member) .
Equity Ownership
| Ownership Detail | Shares | Notes |
|---|---|---|
| Beneficial ownership (total) | 240,010 | Less than 1% of outstanding shares |
| Directly held common stock | 222,527 | As of Sept 30, 2025 |
| Unvested restricted stock | 17,483 | Time-vested RS vesting by Dec 5, 2025/annual meeting |
| Ownership guidelines | 60% retention of vested awards over trailing 36 months; directors in compliance as of Sept 30, 2025 | |
| Pledging/hedging | Company Insider Trading Policy prohibits transactions during blackout absent 10b5-1 plan; no derivative transactions by directors reported |
Insider Trades (Form 4)
| Date | Type | Security | Amount | Price | Holdings After |
|---|---|---|---|---|---|
| Dec 5, 2024 (filed Dec 9, 2024) | Award (A) | Restricted Stock | 17,483 | $0.00 | 240,010 (Direct) |
Governance Assessment
- Strengths: Independent status; 100% attendance; deep technical and operating expertise; chairs Compensation and Reserves, aligning oversight with domain experience; stock retention policy and equity-heavy director pay support alignment; formal clawback policy adopted in 2023; executive sessions and Lead Independent Director structure reinforce oversight .
- Pay-for-performance rigor: Executive STIP/LTIP use TSR, reserves, dividend level, and ESG metrics; 2024 say-on-pay support >94% indicates investor acceptance of compensation framework .
- Conflicts/related-party: Audit Committee reviews related-party transactions; no Dozier-specific related-party transactions disclosed. Extex Consulting affiliation noted; no transactions with EPM disclosed; monitor ongoing disclosures .
- Succession/tenure risk: Mandatory retirement policy generally limits service beyond age 75 (waivable); at age 73, Dozier is approaching the threshold—Board should ensure committee leadership succession plans .
RED FLAGS to monitor: approaching mandatory retirement age for a dual committee chair; continued verification of no related-party dealings involving Extex Consulting; maintenance of ownership guideline compliance and no pledging/hedging .