John E. Jackson
Main Street CapitalAbout John E. Jackson
John E. Jackson (age 66) has served on Main Street Capital Corporation’s board since 2013 and is classified as an independent director under the 1940 Act and NYSE standards . He is the Board’s Lead Independent Director, presiding over executive sessions and liaising between independent directors and management, and is designated an “audit committee financial expert” by the Board . Jackson is the former President & CEO of CSI Compressco LP (served 2021–April 2024) and previously led Spartan Energy Partners, with a long track record in energy services, midstream, and industrial services leadership roles .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CSI Compressco LP (NASDAQ: CCLP) | President & CEO | 2021–Apr 2024 | Led the business through post-2021 restructuring; energy compression services/equipment |
| Spartan Energy Partners | President & CEO | Prior to Jan 2021 (acquired GP of CSI Compressco) | Executive leadership prior to CSI Compressco restructuring into CCLP (Nov 2021) |
| Seitel, Inc. (private) | Director | Aug 2007–present | Onshore seismic data provider; board service ongoing |
| Basic Energy Services, Inc. (NYSE: BAS) | Director | Dec 2016–Dec 2021 | Audit Committee Chair; member of Compensation Committee |
| CNX Midstream Partners (NYSE: CNXM/CNNX) | Director | Jan 2015–Sep 2020 (sale) | Audit Committee member |
| Price Gregory Services, Inc. | Chairman, CEO & President | Feb 2008–Oct 2009 (sale) | Led pipeline infrastructure firm to sale |
| Hanover Compressor (now Exterran/Archrock) | Director; President & CEO; CFO | Director Jul 2004–May 2010; CEO Oct 2004–Aug 2007; CFO Jan 2002–Oct 2004 | Executive and director leadership across finance/operations |
External Roles
| Company/Institution | Role | Status/Start | Notes |
|---|---|---|---|
| Seitel, Inc. (private) | Director | Since Aug 2007 | Private onshore seismic data provider in North America |
| Public company boards | — | Current | None disclosed currently (prior roles at BAS, CNX Midstream) |
Board Governance
| Attribute | Details |
|---|---|
| Independence | Board determined Jackson independent under 1940 Act and NYSE standards |
| Lead Independent Director | Presides over executive sessions; sets agendas with management; liaison to Chairman/CEO; contact listed for stockholders |
| Committees | Audit Committee (member); Compensation Committee (member) |
| Audit Committee Financial Expert | Board determined Jackson is an “Audit Committee financial expert” |
| Attendance | All incumbent directors attended ≥75% of Board/committee meetings in 2024; all then‑serving directors attended 2024 annual meeting in person |
| Board activity | Board met 5 times; acted by unanimous written consent 28 times in 2024 |
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual director cash retainer | $200,000 | Standard non‑employee director retainer |
| Lead Independent Director retainer | $45,000 | Additional annual retainer for Lead Independent Director |
| Audit Committee member fee | $17,500 | Annual committee member retainer (non‑chair) |
| Compensation Committee member fee | $12,500 | Annual committee member retainer (non‑chair) |
| Total Cash Fees (reported) | $275,000 | Sum aligns with reported “Fees Earned or Paid in Cash” for Jackson in 2024 |
| Meeting fees | None (generally) | No per‑meeting fees absent exceptionally high meeting volume |
Director compensation earned in 2024:
| Name | Fees Earned or Paid in Cash | Stock Awards (Grant‑Date FV) | Total |
|---|---|---|---|
| John E. Jackson | $275,000 | $30,019 (590 restricted shares) | $305,019 |
Deferred Compensation Plan activity (2024):
| Name | 2024 Director Contributions | 2024 Aggregate Earnings | Aggregate Balance at 12/31/2024 |
|---|---|---|---|
| John E. Jackson | $90,000 | $771,598 | $2,455,019 |
Performance Compensation
| Equity Award | Grant Date | Shares | Grant‑Date Fair Value | Vesting |
|---|---|---|---|---|
| Annual Director Restricted Stock | May 6, 2024 | 590 | $30,019 | Vests 100% on May 5, 2025 (day of Annual Meeting) if in continuous service |
- No performance metrics are tied to non‑employee director pay; equity is a fixed‑value annual grant under the 2022 Non‑Employee Director Plan .
- Hedging and pledging by directors are prohibited under the insider trading policy (pledging only in limited pre‑approved cases), supporting alignment .
Other Directorships & Interlocks
| Aspect | Detail |
|---|---|
| Other public company directorships (current) | None disclosed currently; prior service at Basic Energy Services and CNX Midstream |
| Committee interlocks | Company disclosed no Compensation Committee interlocks or insider participation for 2024 |
| Independence vs transactions | Board reviewed relevant transactions and determined no impact on independence of directors, including Jackson |
Expertise & Qualifications
- Designated Audit Committee “financial expert”; deep finance background including CFO and CEO roles in energy services/midstream, plus audit chair experience at Basic Energy Services .
- Extensive M&A, corporate finance, and operational leadership across multiple public/private companies; long sector experience in energy and industrial services .
Equity Ownership
| Holder | Beneficially Owned Shares | Notes |
|---|---|---|
| John E. Jackson | 74,661 | Includes 1,904 shares held by spouse and 42,257 phantom stock units in the Deferred Compensation Plan; less than 1% of outstanding shares |
| Director RSUs (unvested at 12/31/2024) | 590 | 2024 grant scheduled to vest May 5, 2025 |
| Ownership guidelines | Directors must hold a multiple of annual cash retainer within 5 years; applies to non‑employee directors | |
| Hedging/pledging | Prohibited (pledging only in limited pre‑approved cases) under insider trading policy |
Governance Assessment
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Strengths and positive signals
- Lead Independent Director with clear authority and responsibilities; strong independence posture .
- Audit Committee financial expert and member of both Audit and Compensation Committees; Board confirms independent status .
- Strong engagement: Board/committee attendance thresholds met in 2024; full annual meeting attendance .
- Director pay structure balanced toward fixed retainers plus modest annual equity; ability to defer cash into phantom units further aligns with shareholders .
- Company-wide guardrails: robust hedging/pledging prohibitions; ownership guidelines; clawback policy (NEOs) .
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Potential watch items
- Long tenure (since 2013) can raise refreshment considerations for some investors, though balanced by committee roles and leadership as Lead Independent Director .
- Company manages external advisory/affiliated fund relationships with co‑investment and valuation oversight; Board noted no impact on director independence and maintains policies to manage conflicts .
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Shareholder feedback and Say‑on‑Pay context
- 2024 Say‑on‑Pay (covering 2023 compensation) received 87% support, indicating generally favorable investor views on compensation/governance framework .
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Compliance and disclosure hygiene
- Company reported directors and officers complied with Section 16(a) reporting requirements in 2024 (no delinquencies) .