Ty Daul
About Ty Daul
Ty Daul (58) is an independent director of LandBridge Company LLC (LB), serving since June 2024. He sits on the Audit Committee and also served on an ad hoc Conflicts Committee. Daul is CEO and a director of Primergy Solar, with 30+ years in power generation and renewables; he holds a B.S. in Mechanical Engineering (University of Washington) and an MBA (Texas A&M). LB classifies Daul as independent under NYSE rules.
Past Roles
| Organization | Role | Tenure (dates as disclosed) | Committees/Impact |
|---|---|---|---|
| Canadian Solar / Recurrent Energy Group | VP, Energy Project Development (Americas); President, Recurrent Energy (U.S. dev arm) | Mar 2017–May 2020 | Led regional development |
| SunPower Corporation | SVP, Americas Power Plants | May 2015–Mar 2017 | Oversaw utility-scale projects |
| Element Power (co‑founder) | Oversaw wind/solar in the Americas | ~2009–~2014 (five years) | Built pipeline and assets |
| Iberdrola Renewables (PPM), Entergy, Newport Generation | Various leadership roles | Not specified (seven years at Iberdrola) | Power generation experience |
| 8point3 Energy Partners LP (public “yieldco”) | Director | Jun 2015–Mar 2017 | Board governance |
External Roles
| Organization | Capacity | Committee/Notes |
|---|---|---|
| Primergy Solar | CEO and Director (current) | Executive role |
| Shoals Technologies Group, Inc. (public) | Director (current) | Audit Committee member |
| Solar Energy Industries Association (SEIA) | Director (current) | Industry association governance |
| Infinigen Renewables | Director (current) | Private clean energy IPP |
Board Governance
- Independence: LB’s Board determined Daul is independent under NYSE and Exchange Act standards.
- Committees: Audit Committee member; Audit Committee is fully independent. Audit Committee currently chaired by Valerie P. Chase.
- Conflicts oversight: Served on an ad hoc Conflicts Committee in 2024 (additional retainer); LB’s LLC Agreement permits independent conflicts committees for related‑party matters; the Powered Land Partners lease was referred to an independent Conflicts Committee.
- Attendance: From Jun 28–Dec 31, 2024, each director attended at least 75% of Board and committee meetings (Daul included).
- Controlled company context: LB is a controlled company under NYSE rules (sponsor majority voting power); Audit Committee remains fully independent.
Fixed Compensation
| Component (2024 program) | Amount/Terms |
|---|---|
| Annual Board retainer (non‑employee directors) | $100,000 cash |
| Audit Committee member retainer | $10,000 cash |
| Audit Committee chair retainer | $10,000 cash (for chair) |
| Ad hoc Conflicts Committee member retainer (when applicable) | $10,000 cash |
| Equity grant (non‑employee directors) | RSUs with fair value ≈ $125,000 at IPO price (2024 grants recorded at actual fair values; see below) |
| 2024 Actual Paid to Ty Daul | Amount |
|---|---|
| Fees earned/paid in cash (pro‑rated for service period; includes $10k Audit Committee and $10k ad hoc Conflicts Committee) | $65,000 |
| Stock awards (RSUs; grant-date fair value) | $229,119 |
| Total | $294,119 |
Notes:
- Cash fees were pro‑rated based on days of service in 2024.
- LB does not pay meeting fees or perquisites to non‑employee directors (reasonable expense reimbursement only).
Performance Compensation
| Equity Award | Grant Date | Quantity | Grant-Date Fair Value | Vesting/Performance Metrics |
|---|---|---|---|---|
| RSUs (annual director grant) | July 2024 | 7,353 RSUs | $229,119 | Proxy describes director RSUs; no performance metrics disclosed for director equity; vesting terms not specified for directors in 2024 proxy |
No option awards or performance-conditioned (PSU) metrics are disclosed for non‑employee directors in 2024; equity is time-based RSUs.
Other Directorships & Interlocks
| Company/Entity | Sector/Relationship to LB | Interlock/Conflict Considerations |
|---|---|---|
| Shoals Technologies Group, Inc. (public) | Solar/electrical balance‑of‑system | No LB‑disclosed transactions with Shoals; Daul serves on Shoals’ Audit Committee. |
| 8point3 Energy Partners LP (past) | Yieldco | Prior public board; no current LB transactions disclosed. |
| Primergy Solar | Solar/BESS developer | Outside operating role; no LB‑disclosed related‑party transactions. |
| SEIA; Infinigen Renewables | Industry association; private IPP | Governance roles; no LB‑disclosed related‑party transactions. |
LB related‑party monitoring: The proxy outlines formal related‑party approval policies and permits use of independent Conflicts Committees. The Powered Land Partners data center lease with a Five Point JV was approved via an independent Conflicts Committee process.
Expertise & Qualifications
- Three decades of power generation experience across utility-scale solar, storage, and wind; involved in >11 GW of operating projects and overseeing a 22 GW development portfolio.
- Public company board and audit committee experience (Shoals; prior 8point3).
- Education: B.S. Mechanical Engineering (UW); MBA (Texas A&M).
Equity Ownership
| Holder | Class A Shares | % Voting Power | Notes |
|---|---|---|---|
| Ty Daul | 16,153 | <1% | Beneficial ownership as of record date; Class B shares held by sponsor; director RSU grant outstanding separately. |
Additional alignment and trading policies:
- Non‑employee directors received RSU grants in 2024 (7,353 RSUs for Daul).
- Anti‑hedging policy prohibits hedging, short sales, and derivative transactions in LB securities by directors.
Governance Assessment
- Strengths: Independent director with deep energy and renewables operating experience; Audit Committee member; participated on an ad hoc Conflicts Committee—useful in a controlled company structure; satisfactory attendance (≥75% in 2H24); pay mix includes equity (RSUs) and meaningful personal share ownership (16,153 Class A).
- Controlled company risks: Sponsor holds majority voting power, limiting minority influence; however, LB employs independent Conflicts Committees for related‑party matters and maintains a fully independent Audit Committee (chaired by Valerie P. Chase).
- Compensation/Alignment: 2024 director pay appropriately split between cash retainers and RSUs; no per‑meeting fees; no disclosed perquisites. Absence of performance‑conditioned equity for directors is typical and not a red flag.
- Conflicts: No related‑party transactions disclosed involving Daul’s outside entities; anti‑hedging policy supports alignment. Continued monitoring is warranted given broader sponsor affiliate dealings (e.g., Five Point JV), but independent review structures are in place.