Robert Reeves
Diamondback EnergyAbout Robert K. Reeves
Robert K. Reeves (age 67) is an independent director of Diamondback Energy, appointed in September 2024. He brings 14 years as Executive Vice President and Chief Administrative Officer at Anadarko Petroleum, 11 years as EVP, General Counsel and Secretary at Ocean Energy/Flores & Rucks, and 11 years as a law firm partner. He holds a B.S. in Business Administration (1978) and a J.D. (1982) from Louisiana State University, and serves on LSU Foundation’s board and MD Anderson’s board of visitors .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Anadarko Petroleum Corporation | EVP & Chief Administrative Officer | 14 years; retired Dec 2018 | Oversaw legal, HR, government relations, IT, HSE, corporate security, admin functions |
| Ocean Energy, Inc. (incl. Flores & Rucks, Inc.) | EVP, General Counsel & Secretary | 11 years | Senior legal and corporate governance leadership |
| Onebane Law Firm (Lafayette, LA) | Partner | 11 years | Corporate and energy legal practice |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| LSU Foundation | Board Member | Current | Alumni governance engagement |
| MD Anderson Cancer Center | Board of Visitors | Current | Advisory role |
| Key Energy Services, Inc. | Director | Prior | Public company board service |
| Western Gas Partners, LP | Director | Prior | Public MLP board service |
| Western Gas Equity Partners, LP | Director | Prior | Public MLP board service |
| Episcopal Health Foundation; St. Luke’s Episcopal Health System; Family Services of Greater Houston; United Way of Greater Houston | Board roles | Prior | Nonprofit governance |
Board Governance
- Independence: Board determined Reeves is independent under Nasdaq/SEC rules; he serves on three independent committees (Audit; Compensation; Nominating & Corporate Governance) .
- Committee assignments and timing:
- Audit Committee member; appointed effective September 10, 2024; 4 meetings in 2024; committee chaired by Stephanie K. Mains .
- Compensation Committee member; appointed effective September 10, 2024; 4 meetings in 2024; chaired by Melanie M. Trent .
- Nominating & Corporate Governance Committee member; appointed effective September 10, 2024; 2 meetings in 2024; chaired by Vincent K. Brooks .
- Attendance and engagement: In 2024, each director attended at least 92% of board and applicable committee meetings; independent directors held six executive sessions .
- Audit committee qualifications: All members financially literate; committee has three “financial experts”; Reeves not listed among financial experts .
Committee Membership Summary
| Committee | Role | Appointed Effective | Meetings in 2024 |
|---|---|---|---|
| Audit | Member | Sep 10, 2024 | 4 |
| Compensation | Member | Sep 10, 2024 | 4 |
| Nominating & Corporate Governance | Member | Sep 10, 2024 | 2 |
Fixed Compensation
Non-Employee Director Program (2024)
| Type of Fee | Amount ($) |
|---|---|
| Annual Director Retainer | $90,000 |
| Lead Independent Director Retainer | $25,000 |
| Audit Committee Chair Retainer | $20,000 |
| Audit Committee Member Retainer | $10,000 |
| Other Committee Chair Retainer | $15,000 |
| Other Committee Member Retainer | $5,000 |
Robert K. Reeves – 2024 Cash Fees (Prorated)
| Year | Fees Earned or Paid in Cash ($) |
|---|---|
| 2024 | $33,777 |
Performance Compensation
Annual RSU Grants (Directors)
| Item | Detail |
|---|---|
| Standard 2024 Annual RSU | $200,000 grant; 1,035 RSUs at $193.14 avg price; vest on earlier of June 6, 2025 or date of 2025 annual meeting; prorated for directors joining after June 6, 2024 |
| Reeves 2024 Stock Award (Prorated) | Grant date fair value $140,622; same vesting terms as annual director grant |
| Vesting Date(s) | Earlier of June 6, 2025 and May 21, 2025 (2025 Annual Meeting) |
| Deferral Election | Reeves elected to defer receipt of vested RSUs until separation from service |
| Dividend Equivalents | Not reflected in aggregate grant date fair value |
Note: Director RSUs are time-based; no performance-conditioned metrics apply to non-employee director equity awards .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current Public Company Boards | None (Other Current Public Boards: 0) |
| Compensation Committee Interlocks | None; committee comprised solely of independent directors; no cross-board interlocks with FANG executives |
Expertise & Qualifications
- Corporate governance; M&A/Finance/Capital Markets; Government, Legal & Regulatory; EHS & Sustainability; Industry background; Executive compensation/human capital; Risk management; Technology/cyber .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | Percent of Class |
|---|---|---|
| Robert K. Reeves | 3,667 | <1% |
| Directors’ Stock Ownership Guidelines | Non-employee directors must hold stock equal to 5x base annual retainer; compliance reviewed annually | |
| Compliance Status (Directors) | As of Dec 31, 2024, all non-employee directors were in compliance | |
| Hedging/Pledging | Company prohibits hedging and pledging; all covered persons in compliance to Company’s knowledge |
Governance Assessment
- Board effectiveness: Reeves adds deep legal, regulatory, and administrative leadership from Anadarko and Ocean Energy; his committee roles on Audit, Compensation, and Nominating embed him across critical governance levers .
- Independence and designation: Although designated to the board by the Stephens Stockholders following the Endeavor merger, the board determined he is independent under Nasdaq/SEC standards; Audit committee independence affirmed .
- Attendance and engagement: Board met 10 times in 2024; directors achieved ≥92% attendance and held six executive sessions, signaling active oversight .
- Director pay alignment: Mix of cash and equity with time-based RSUs and robust 5x retainer ownership guideline; Reeves deferred RSUs until separation, reinforcing long-term alignment; no stock options, limiting risk-taking incentives .
- Compensation governance quality: Compensation committee uses independent consultant (Meridian), reviews pay-for-performance rigor, and maintains clawback and anti-hedging policies; high say-on-pay support (~96.5% in 2024) indicates investor confidence .
RED FLAGS / Watch Items
- Stockholder designation: Reeves’ appointment via Stephens Stockholders Agreement may present perceived affiliation risk; mitigated by independence determination and committee structures .
- Related-party transactions: No Reeves-specific related-party transactions disclosed; audit committee oversees related-party approvals .
- Overboarding/limits: Company enforces limits (max four public boards; max three audit committees) and requires pre-approval for new board service—board reports compliance .