Shameek Konar
About Shameek Konar
Independent director of Expand Energy (EXE), age 55, appointed October 2024; Ph.D. in Economics and Finance (Vanderbilt), BA in Economics and Mathematics (St. Stephen’s College). Former CEO of Pilot Company and senior commodities investor/operator (Goldman Sachs, Mercuria, Castleton); currently Partner & Head of Energy at Ara Energy Decarbonization (private equity). Chairs EXE’s Marketing & Commercial Committee; independence affirmed by the Board’s annual review. Board/committee attendance in 2024 was near-perfect (97% overall) and directors had 100% Annual Meeting attendance.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pilot Company | Chief Executive Officer | 2021–2023 | Led large-scale energy logistics and retail fuel operations; relevant to marketing/transport oversight at EXE. |
| Pilot Company | Chief Strategy Officer | 2017–2020 | Commercial and risk strategy; commodity supply chain experience. |
| Castleton Commodities International | Chief Investment Officer; Global Head of Business Development | 2015–2017 | Commodity trading, asset investment; risk management expertise. |
| Mercuria Energy Group | Chief Investment Officer; Management Committee member | 2012–2015 | Global trading oversight; strategic transactions. |
| Goldman Sachs Group | Managing Director; Co-Head Global Commodities & Principal Investing | 2009–2012 | Capital markets, commodities risk. |
| Constellation Energy | Senior management | 2003–2009 | Power/energy market operations. |
| Accenture | Senior management | 2001–2003 | Operational transformation. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Ara Energy Decarbonization (PE fund) | Partner & Head of Energy | 2024–Present | Focus on acquisition/operations/decarbonization of conventional energy assets. Potential counterparty exposure to EXE markets. |
| University of Tennessee, Knoxville | Adjunct Professor | Not disclosed | Academic engagement (economics/energy). |
| Southwestern Energy Company | Director | 2023–2024 | Pre-merger board service; EXE formed via Chesapeake + Southwestern combination in Oct 2024. |
Board Governance
- Committee assignments: Chair, Marketing & Commercial; member composition includes Emerson, Kehr, Steck; established Oct 2024; 2024 meetings: 2. Mandate spans marketing/commercial strategy execution, hedging policies, and market risk oversight.
- Independence: Listed as Independent Director; EXE has 9 independent directors and 100% independent committees.
- Attendance: Board and committee meeting attendance 97%; Annual Meeting attendance 100%; Board met 9 times; committees met 24 times in 2024. Directors are expected to attend the Annual Meeting, and all did in 2024.
- Investor engagement: Management/board engaged with shareholders representing ~70% of outstanding shares in 2024.
Fixed Compensation
| Component | Program Terms | Konar 2024 Actual |
|---|---|---|
| Annual cash retainer | $80,000 (quarterly; directors may elect RSUs in lieu) | Included in prorated fees as appointed Oct 2024 |
| Committee chair fee | Marketing & Commercial chair: $25,000; (members: $10,000) | Reflected in prorated cash fees |
| RSU grant (annual) | ~$200,000 RSUs; Chairman additional ~$150,000; grants near annual meeting; deferral optional | None recorded for 2024 (appointed post-cycle) |
| 2024 director compensation totals | — | Cash fees: $26,250; Stock awards: $0; Total: $26,250 |
Performance Compensation
| Instrument | Terms | Konar 2024 |
|---|---|---|
| Options | Not granted to directors; company does not currently grant options | N/A |
| PSUs | Directors receive RSUs, not PSUs; PSUs are for executives | N/A |
| AIP/LTIP | Director pay is cash + RSUs; performance plans apply to executives | N/A |
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict Consideration |
|---|---|---|---|
| Southwestern Energy Company | Public (pre-merger) | Director (2023–2024) | Pre-merger directorship; now subsumed into EXE; not a current external board. |
| Ara Energy Decarbonization | Private | Partner & Head of Energy | Could be a counterparty/market participant in energy assets; related-party transactions require Audit Committee review/approval under EXE policy. |
Expertise & Qualifications
- Global energy and commodities trading, marketing/transportation, hedging, and risk management; matches EXE’s Marketing & Commercial oversight needs.
- Strategic transactions, finance/capital markets, and management of complex organizations; aligns with EXE board skills matrix emphasis on marketing/trading, finance, ERM, and strategic transactions.
Equity Ownership
| Holder | Common Shares | Share Equivalents | Total | % Outstanding |
|---|---|---|---|---|
| Shameek Konar | 5,907 | 0 | 5,907 | <1% |
- Stock ownership guidelines: Non-employee directors must hold shares equal to 5x cash retainer; all directors and NEOs met minimum ownership requirements as of April 7, 2025.
Insider Trades
| Item | Disclosure |
|---|---|
| Section 16(a) compliance | Company states all required insider ownership/change reports were filed on time for 2024. Form 4 transaction specifics not detailed in proxy. |
Governance Assessment
-
Strengths:
- Relevant domain expertise for chairing Marketing & Commercial (hedging, marketing risk, commodity strategies), improving board oversight of commercial risk and returns.
- Independence affirmed; strong attendance culture; investor engagement ~70% of shares indicates active board-shareholder dialogue.
- Director pay structure balanced (cash + RSUs), with ownership guidelines met, supporting alignment; prohibition on hedging/pledging extends to directors.
- Robust related-party transaction policy with Audit Committee pre-approval mitigates conflicts.
-
Watch items / RED FLAGS
- Private equity role at Ara Energy Decarbonization could present counterparty or competitive overlaps in energy assets; rely on EXE’s related-party policy, independence standards, and committee oversight to prevent conflicts. No specific related-party transactions disclosed.
- New committee (Marketing & Commercial) has a broad mandate over hedging and market risk; ensure detailed reporting cadence and stress-tested risk limits to avoid speculative exposure. 2024 meetings were only 2 given late-year formation—monitor cadence in 2025.
Overall, Konar’s commodity trading and commercial strategy background is accretive for EXE’s marketing/hedging oversight. Independence, ownership alignment, and policy guardrails reduce conflict risk; continued transparency on counterparties and committee activity would further support investor confidence.