John T. Collins
KLX Energy Services HoldingsAbout John T. Collins
Independent Class II Director of KLX Energy Services Holdings, Inc. (KLXE); age 78; director since 2018. Former non-executive Chairman of the Board from July 2020 to June 2021 and Chairman of the Board from May to July 2020; previously served on the KLX Inc. board until its sale to Boeing in October 2018. Earlier career includes President and CEO of Quebecor Printing (USA) Inc. (1986–1992) and Chairman/CEO of The Collins Group, Inc. (1992–2017); currently serves on the board of Federated Funds, Inc. and has served on boards including Bank of America and FleetBoston Financial; he has chaired the Board of Trustees of Bentley University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KLX Energy Services (KLXE) | Non-Executive Chairman of the Board | Jul 2020–Jun 2021 | Independent board leadership during post-merger integration |
| KLX Energy Services (KLXE) | Chairman of the Board | May–Jul 2020 | Short transition leadership period |
| KLX Inc. | Director | Dec 2014–Oct 2018 | Board member through sale to Boeing |
| Quebecor Printing (USA) Inc. | President & CEO | 1986–1992 | Led several large acquisitions; positioned company as industry leader |
| Semline Inc. | President; earlier roles | 1968–1986 (President since 1973) | Merged into Quebecor Printing (USA) in 1986 |
| The Collins Group, Inc. | Chairman & CEO | 1992–2017 | Managed private securities portfolio; minority interests in private companies |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Federated Funds, Inc. | Director | 2011–Present | Fund board oversight |
| Bank of America Corp. | Director (prior) | Not disclosed | Large-cap financial sector board experience |
| FleetBoston Financial | Director (prior) | Not disclosed | Financial sector board experience |
| Bentley University | Chairman, Board of Trustees | Not disclosed | Higher-education governance leadership |
Board Governance
- Committee assignments: Audit Committee (member), Compensation Committee (member), Nominating & Corporate Governance Committee (member); all committees composed solely of independent directors .
- Independence: Board determined Collins has no material relationships with KLXE and is independent under SEC and Nasdaq rules .
- Attendance and engagement: Board met 14 times in 2024 with four executive sessions; Audit (4), Compensation (6), Nominating & Governance (5); all directors attended at least 75% of total Board and committee meetings and attended the 2024 Annual Meeting .
- Compensation Committee practices: Uses independent consultant F.W. Cook; committee has sole authority to retain/terminate advisors; no consultant conflicts identified; no interlocks or related-person transactions among committee members .
- Related-party oversight: Formal policy requiring Audit Committee review/approval of related party transactions ≥$120,000 and Law Department review; emphasizes arm’s-length terms and fair dealing .
- Anti-hedging/anti-pledging: Directors prohibited from hedging and generally from pledging or margin accounts absent pre-clearance demonstrating ability to repay without resort to pledged securities .
- Board practices: Independent chair (since Nov 2024); executive sessions at regular meetings; periodic board effectiveness reviews; plurality-plus-majority resignation policy for directors with more WITHHOLD than FOR votes .
Fixed Compensation
| Component | Amount (2024) | Notes |
|---|---|---|
| Annual cash retainer | $120,000 | Non-employee director retainer |
| Committee chair fees | $10,000 (policy) | Per committee chair (Audit/Comp/NomGov); Collins is not a chair |
| Meeting fees | Not disclosed | KLXE does not disclose per-meeting fees |
| Total cash (Collins) | $120,000 | Fees Earned or Paid in Cash |
Performance Compensation
| Grant Type | Grant Date | Shares Granted | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Restricted Stock (Director) | Feb 1, 2024 | 5,658 | $55,222 | Vests in full on 1st anniversary, service-based |
| Equity program structure | 2024 | — | — | KLXE did not grant stock options or option-like awards to directors in 2024 |
KLXE’s director equity grants are time-based and not tied to specific performance metrics; no director-level performance metrics are disclosed for equity awards .
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| Federated Funds, Inc. | Fund complex | Director | Current role; no KLXE-related transactions disclosed |
| Bank of America Corp. | Public company | Director (prior) | Historical role; no interlocks disclosed |
| FleetBoston Financial | Public company | Director (prior) | Historical role; no interlocks disclosed |
| KLX Inc. | Public company | Director | Predecessor to KLXE; sold to Boeing |
- Compensation Committee interlocks: None; no member (including Collins) had interlocking roles or related-person transactions requiring disclosure in 2024 .
Expertise & Qualifications
- Deep operating and M&A background as President & CEO (Quebecor Printing USA), and decades as private investment manager; experienced in acquisitions and strategic development .
- Extensive public-company board service across industrials and financial services; fund board oversight; higher-education governance experience .
- Board skills aligned to KLXE’s committee risk oversight framework across audit, compensation, and governance domains .
Equity Ownership
| Holder | Beneficial Shares | % Outstanding | As-of Date | Notes |
|---|---|---|---|---|
| John T. Collins | 21,688 | <1% | Mar 19, 2025 | Includes 5,658 shares issued pursuant to a restricted stock award |
- Shares outstanding basis: 17,400,155 shares .
- Ownership safeguards: Hedging/pledging generally prohibited; margin accounts disallowed absent pre-clearance .
Governance Assessment
- Strengths: Independent director with broad committee service (Audit, Compensation, Nominating & Governance), formal independence determination, and attendance thresholds met; Compensation Committee uses independent advisor with no conflicts and has no interlocks; robust anti-hedging/pledging and related-party review policies enhance investor protections .
- Alignment: Director pay uses a mix of cash and time-based equity with one-year vesting, and Collins holds 21,688 shares including restricted stock; anti-pledging policy supports alignment and risk control .
- Watch items: Ownership is below 1% (typical for directors, but modest “skin-in-the-game”); no director-specific performance metrics tied to equity (grants are time-based), limiting direct pay-for-performance signaling at the board level .
Appendix: Board & Committee Activity (Context)
| Body | 2024 Meetings | Notes |
|---|---|---|
| Board | 14 | Four executive sessions; all directors ≥75% attendance; all attended 2024 Annual Meeting |
| Audit Committee | 4 | Independent members; Whates as chair; oversight of auditors, controls, cybersecurity |
| Compensation Committee | 6 | Independent; advisor F.W. Cook; no conflicts/interlocks |
| Nominating & Corporate Governance | 5 | Independent; Eliassen as chair; director nominations/governance |
All information above is sourced from KLXE’s 2025 DEF 14A proxy statement filed March 28, 2025 .