Patricia K. Collawn
Cheniere EnergyAbout Patricia K. Collawn
Patricia K. Collawn, age 66, has served on Cheniere Energy, Inc.’s Board since 2021. She is Chairman and CEO of TXNM Energy, Inc. (formerly PNM Resources, Inc.), with prior senior roles in regulated utilities, and holds a B.A. from Drake University and an MBA from Harvard Business School. Her board skills emphasize corporate governance, regulatory expertise, cybersecurity, operations, and sustainability oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PNM Resources, Inc. (now TXNM Energy, Inc.) | Chairman & CEO; President (2010–May 2022); President, Utilities; President & COO | Chairman since 2012; CEO since 2010; President to May 2022; joined 2007; promoted 2008 | Led regulated utility operations; governance and ESG emphasis |
| Public Service Company of Colorado (Xcel Energy subsidiary) | President & CEO | 2005–2007 | Regulated utility leadership; regulatory navigation |
| Electric Power Research Institute (EPRI) | Chairman (prior) | Not disclosed | Industry research leadership on sustainability/carbon topics |
| Edison Electric Institute (EEI) | Chairman (prior); Volunteer interim CEO (current) | Not disclosed | Industry association leadership; policy and governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| TXNM Energy, Inc. (formerly PNM Resources, Inc.) | Chairman & CEO | Chairman since 2012; CEO since 2010 | Publicly traded energy holding company |
| Edison Electric Institute (EEI) | Volunteer interim CEO | Current | Industry association role |
| Equitrans Midstream Corporation | Director | Apr 2020–Apr 2023 | Public natural gas midstream |
| EVgo Services, LLC | Director | Jul 2021–Mar 2022 | Public EV charging operator |
| CTS Corporation | Director | 2003–May 2021 | Public sensors/actuators manufacturer |
Board Governance
- Committee Memberships (as of Apr 8, 2025): Governance & Nominating; Compensation; not a chair .
- Independence: Determined independent under NYSE and SEC standards; no relationships interfering with independent judgment .
- Attendance (FY2024): Board 100%; Governance & Nominating 100%; Compensation 100% .
- Board structure: Independent Non-Executive Chair; all committees chaired by independent directors; regular executive sessions; robust risk oversight .
Fixed Compensation
| Component | Structure | Amount/Detail | 2024 Activity (Collawn) |
|---|---|---|---|
| Annual Director Compensation | Total annual compensation set at $315,000 effective post-2024 meeting; payable either 100% restricted stock or $120,000 cash + $195,000 restricted stock | Program increased from $295,000 to $315,000 in May 2024 | $10,000 cash; $295,210 stock awards; total $305,210 |
| Equity Grant | Restricted stock or DSUs; standard director equity retainer $195,000; vesting at next annual meeting or first anniversary | Grant-date price $157.11 (May 23, 2024) | 1,879 restricted stock or DSUs granted (grant-date fair value $295,210) |
| Committee Chair Fees | Audit $30,000; Compensation $25,000; Governance $20,000; Non-Exec Chair $200,000 | Paid in stock or 50/50 cash/stock; vesting as above | Not applicable (not a chair) |
| Compensation Cap | Non-employee director total annual comp capped at $750,000 | Governance safeguard to limit director pay | Applies board-wide |
| Deferral | Directors may elect to defer 100% of annual equity into DSUs | DSUs follow same vesting schedule as equity retainer | DSUs used by some directors |
Performance Compensation
| Element | Design | Metrics | Notes |
|---|---|---|---|
| Performance-based Director Pay | None disclosed | N/A | Director pay consists of cash retainers and equity (restricted stock/DSUs); no options currently granted by the Company . |
| Options for Directors | Not granted | N/A | The Company currently does not grant stock options . |
The Company’s robust pay-governance framework includes clawbacks for Section 16 officers and prohibitions on hedging/pledging, but these provisions are not structured as director performance metrics .
Other Directorships & Interlocks
- Current public company roles: Chairman & CEO of TXNM Energy (PNM Resources). Prior public boards include Equitrans Midstream (midstream), EVgo (EV charging), and CTS Corporation (industrial electronics) .
- Interlocks/Conflicts: No compensation committee interlocks disclosed; 2024 Compensation Committee members (including Collawn) were independent and none were Company employees .
Expertise & Qualifications
- Utility regulatory and operations leadership; governance, cybersecurity, sustainability oversight; executive leadership across large organizations .
- Public company directorship experience across energy and industrials .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Class | RS/DSU Detail |
|---|---|---|---|
| Patricia K. Collawn | 9,060 | <1% | 0 restricted stock; 6,123 DSUs outstanding as of Dec 31, 2024 |
| Shares Outstanding (reference) | 222,814,436 | — | — |
- Ownership Guidelines: Minimum of 3x annual equity retainer; all non-employee directors in compliance; hedging and pledging of Company stock prohibited .
Governance Assessment
- Board Effectiveness: High attendance and dual-committee service signal engagement; independence affirmed; governance framework features independent leadership and regular executive sessions, supporting investor confidence .
- Alignment: Equity-based retainer and ownership guidelines foster director-shareholder alignment; DSU use indicates long-term orientation .
- Compensation Practices: Market-benchmarked director pay with caps; no performance pay for directors; strong risk controls (no options, clawbacks for officers, hedging/pledging bans) .
- Potential Conflicts/Related Party Exposure: None disclosed regarding Collawn; independence review considers outside affiliations; no interlocks flagged; service on other boards evaluated annually for time commitments .
- Shareholder Signals: Say-on-pay support >90% in 2024 indicates broad investor approval of compensation governance; ongoing shareholder outreach covers governance and ESG topics .
RED FLAGS: None disclosed for Collawn. Company-wide policies prohibit hedging/pledging and cap director compensation; no related-party transactions or attendance issues noted for her .