Henry Hankinson
About Henry W. Hankinson
Henry W. Hankinson is an independent director of Equus Total Return, Inc. (NYSE: EQS), age 83, serving on the Board since 2005 with his current term expiring in 2025. He is Managing Partner and co‑founder of Global Business Associates, LLC, and is a former military officer with engineering and MBA degrees; his career includes senior domestic and international executive roles across oil and gas construction and investment management, with assignments in Moscow (Halliburton/Brown & Root) and Riyadh (HBR Managing Director for Saudi Arabia; later COO of a multi‑national conglomerate for the Saudi Royal Family) . The Board has affirmatively determined he is independent under SEC and NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Global Business Associates, LLC | Managing Partner & co‑founder | Ongoing (past 5 years) | Boutique M&A firm leadership |
| Halliburton / Brown & Root (HBR), Former Soviet Union | Senior regional executive (Moscow) | Began 1993 | Established oil & gas construction market in FSU |
| HBR, Saudi Arabia | Senior regional Managing Director (Riyadh) | Began 1997 | Regional leadership |
| Multi‑national conglomerate for Saudi Royal Family | COO, senior American | Began 1999 | Responsible for investment acquisitions & portfolio management |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Other U.S. public company boards | — | None disclosed | Company limits listing to U.S. public/SEC-registered entities; “None” for Hankinson |
Board Governance
- Committee assignments: Chair – Compensation Committee; Member – Audit Committee; Committee of Independent Directors; Governance & Nominating Committee .
- Independence: Board’s annual review determined Hankinson is independent; only Hardy (CEO) and Denos (Secretary/CCO) are interested directors .
- Attendance: In 2024, the Board met eight times; each director attended all Board and relevant committee meetings; all directors attended the 2024 annual meeting .
- Committee activity: Audit Committee met five times in 2024; Governance & Nominating met three times; Compensation Committee did not meet in 2024 .
| Committee | Role | 2024 Meetings |
|---|---|---|
| Compensation | Chair | 0 |
| Audit | Member | 5 |
| Governance & Nominating | Member | 3 |
| Committee of Independent Directors | Member | Executive sessions at Board meetings |
- 2025 shareholder vote on directors: Hankinson received 7,581,000 “For” and 2,066,828 “Withheld”; no votes “Against” or “Abstained” for any director nominee .
Fixed Compensation
- Policy: Independent Directors receive $40,000 annual cash retainer (paid quarterly), $2,000 per in‑person meeting, $1,000 per telephonic meeting; standing committee chairs (audit, compensation, nominating/governance) receive an additional $50,000 annual fee; reimbursement of related expenses . The Company may pay one‑time or recurring fees in special circumstances .
- Additional services provision: For services by Board members not in connection with director duties, the Company pays $300/hour .
| Component | Amount | Terms | Source |
|---|---|---|---|
| Annual cash retainer (Independent Directors) | $40,000 | Paid quarterly | |
| Committee chair fee | $50,000 | Paid quarterly; applies to standing committees | |
| Meeting fee (in person) | $2,000 | Per meeting | |
| Meeting fee (telephonic) | $1,000 | Per meeting | |
| Non‑director duty services | $300/hour | As needed |
| Henry W. Hankinson – Director Cash Compensation | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $105,000 | $108,000 (includes portion of $62,000 accrued but unpaid director fees) |
Performance Compensation
- Equity awards: The Company’s 2016 Equity Incentive Plan permitted restricted stock and options; on March 17, 2017 an aggregate of 844,500 restricted shares were granted to certain directors and executive officers, subject to 3‑year vesting; all have fully vested, and no additional awards were outstanding 2018–2024 . Individual award sizes for Hankinson are not disclosed .
| Metric/Instrument | Grant Date | Amount | Vesting | Status |
|---|---|---|---|---|
| Restricted stock (aggregate to directors & executives) | Mar 17, 2017 | 844,500 shares (aggregate) | 3 years | Fully vested; no awards outstanding 2018–2024 |
- Performance metrics tied to director pay: Not disclosed; director compensation is cash-based (retainer, chair, meeting fees) .
Other Directorships & Interlocks
| Company | Role | Interlocks/Conflicts |
|---|---|---|
| None disclosed for U.S. public companies | — | None disclosed |
Expertise & Qualifications
- Prior service as Compensation Committee Chair and independent director; substantial international business background and oil & gas sector experience deemed critical to the Board .
- Former military officer with engineering and MBA degrees; extensive senior executive roles (Chairman/CEO/COO/Director) across private and public companies .
Equity Ownership
- Beneficial ownership (as of April 1, 2025): 19,500 shares; less than 1% of class outstanding .
- Dollar range of equity securities: $10,001–$50,000 in EQS; same range across family of investment companies overseen .
| Holder | Shares Beneficially Owned | Percent of Class | Dollar Range (Company) |
|---|---|---|---|
| Henry W. Hankinson | 19,500 | <1% | $10,001–$50,000 |
Governance Assessment
- Independence and committee leadership: Hankinson is independent and chairs the Compensation Committee, while serving on Audit, Governance & Nominating, and the Committee of Independent Directors—consistent with NYSE independence and robust oversight roles .
- Engagement: 100% attendance in 2024 across Board and relevant committees; Audit and Governance & Nominating committees were active (5 and 3 meetings, respectively) .
- Compensation oversight signal: The Compensation Committee did not meet in 2024, which reduces visibility into formalized pay oversight cadence even as the committee produced its required report; this can be a monitoring point for investors given evolving compensation policies .
- Ownership alignment: Direct beneficial ownership is 19,500 shares (<1%); dollar range $10,001–$50,000; alignment exists but is modest relative to overall float .
- Potential conflicts: Company permits directors to charge $300/hour for non‑director services to the Company, and may pay special one‑time/recurring fees; while no such payments specific to Hankinson are disclosed, the policy itself can create perceived conflict risks and warrants ongoing disclosure tracking .
- Shareholder support: 2025 re‑election received 7,581,000 “For” and 2,066,828 “Withheld”; no votes “Against” (all nominees had zero “Against/Abstained”), indicating overall shareholder support, albeit with meaningful withhold totals across independent nominees .
- Broader governance context: The Company adopted a Compensation Recoupment Policy (effective Dec 1, 2023) for executive officers; committee charters and governance guidelines are available on the Company’s website—supports governance infrastructure, though recoupment policy scope is executive‑focused rather than directors .