Stacy Hardin
About Stacy Hardin
Stacy D. Hardin (age 60) serves as Corporate Secretary and Assistant Treasurer at Mexco Energy Corporation (MXC). She joined the company in 2006, was Assistant Secretary from 2006–2021, elected Corporate Secretary in September 2021, and has been Assistant Treasurer since 2010; prior to those roles she served as Assistant Controller . The company’s compensation program emphasizes a mix of cash salary, discretionary annual bonus, and stock options to align executives with shareholder value, but specific quantitative performance metrics (e.g., TSR, revenue/EBITDA growth weighting/targets) are not disclosed in the proxies .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mexco Energy Corporation | Assistant Controller | Prior to 2006 | Finance support role; precursor to corporate officer positions |
| Mexco Energy Corporation | Assistant Secretary | 2006–2021 | Corporate governance administration and documentation |
| Mexco Energy Corporation | Assistant Treasurer | 2010–present | Treasury and cash management support |
| Mexco Energy Corporation | Corporate Secretary | Sep 2021–present | Corporate governance, disclosures, and board/meeting administration |
External Roles
No external directorships or public-company board roles were disclosed for Hardin in MXC’s recent proxy statements .
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Base Salary ($) | $68,824 | $72,621 | $76,800 | $76,800 |
| Notes | Includes $1,318 of accrued vacation sold back (Hardin) | — | Salary includes accrued vacation sold back to company for other NEOs; Hardin not noted for FY24 | — |
Performance Compensation
Annual Cash Bonus Outcomes
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Annual Bonus ($) | $10,000 | $11,000 | $12,000 | $12,000 |
| Bonus Determination | Discretionary; committee reviews a mix of financial and non-financial measures (specific targets/weightings not disclosed) | Discretionary; metrics not disclosed | Discretionary; metrics not disclosed | Discretionary; metrics not disclosed |
Equity Awards (Options) – Grants
| Grant Date | Instrument | Shares | Exercise Price | Vesting | Term | Grant-date Fair Value ($) |
|---|---|---|---|---|---|---|
| 07/25/2021 | Stock Options | 5,000 | $8.51 | Equal over 4 years, starting first anniversary | 10 years | $30,250 |
| 04/12/2023 | Stock Options | 5,500 | $12.68 | Equal over 4 years, starting first anniversary | 10 years | $48,015 |
Option Exercises
| Fiscal Year | Options Exercised (Shares) | Value Realized ($) |
|---|---|---|
| FY 2022 | 16,250 | $145,084 |
Outstanding Equity Awards at Fiscal Year-End (Hardin)
FY 2023 (as of 3/31/2023)
| Option Series | Vested | Unvested | Strike ($/sh) | Expiration |
|---|---|---|---|---|
| 09/11/2028 | 1,250 | — | 4.84 | 09/11/2028 |
| 03/04/2030 | 1,250 | 1,250 | 3.34 | 03/04/2030 |
| 07/25/2031 | 1,250 | 3,750 | 8.51 | 07/25/2031 |
| 08/22/2032 | — | 5,000 | 18.05 | 08/22/2032 |
FY 2024 (as of 3/31/2024)
| Option Series | Vested | Unvested | Strike ($/sh) | Expiration |
|---|---|---|---|---|
| 09/11/2028 | 1,250 | — | 4.84 | 09/11/2028 |
| 03/04/2030 | 2,500 | — | 3.34 | 03/04/2030 |
| 07/25/2031 | 2,500 | 2,500 | 8.51 | 07/25/2031 |
| 08/22/2032 | 1,250 | 3,750 | 18.05 | 08/22/2032 |
| 04/12/2033 | — | 5,500 | 12.68 | 04/12/2033 |
FY 2025 (as of 3/31/2025)
| Option Series | Vested | Unvested | Strike ($/sh) | Expiration |
|---|---|---|---|---|
| 03/04/2030 | 2,149 | — | 3.34 | 03/04/2030 |
| 07/25/2031 | 3,603 | 1,250 | 8.51 | 07/25/2031 |
| 08/22/2032 | 2,500 | 2,500 | 18.05 | 08/22/2032 |
| 04/12/2033 | 1,375 | 4,125 | 12.68 | 04/12/2033 |
Equity Ownership & Alignment
| Metric | 2022 (as of 7/21/2022) | 2023 (as of 7/20/2023) | 2024 (as of 7/22/2024) | 2025 (as of 7/23/2025) |
|---|---|---|---|---|
| Beneficially Owned Shares | 3,349 | 7,099 | 10,827 | 14,702 |
| % of Class | <1% (“*”) | <1% (“*”) | <1% (“*”) | <1% (“*”) |
| Options exercisable within 60 days | 2,500 | 6,250 | 9,627 | 13,502 |
| Stock Ownership Guidelines | Not disclosed in proxies | Not disclosed | Not disclosed | Not disclosed |
| Pledging/Hedging Disclosure | No pledging disclosed in proxy narrative; hedging policy not detailed for executives in excerpts reviewed |
Employment Terms
- No individual employment contracts or change‑of‑control agreements are in place for executives, including Hardin .
- Equity awards under the Stock Plan accelerate and become fully vested upon a change in control or certain terminations; options remain exercisable through their original term (or up to 2 years post‑death), with potential discretionary acceleration upon termination determined by the Compensation Committee .
- Severance multiples (salary+bonus), clawback policy specifics, tax gross‑ups, and ownership guidelines are not disclosed in the proxies reviewed .
Compensation Committee and Governance Notes
- Compensation Committee members (2023/2022) included Kenneth L. Clayton (Chair), Michael J. Banschbach, Thomas H. Decker, and Christopher M. Schroeder; the committee reviewed and recommended inclusion of CD&A .
- The Compensation Committee has not retained a compensation consultant to advise on pay matters or peer practices .
Multi‑Year Compensation Summary (Hardin)
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Salary ($) | 68,824 | 72,621 | 76,800 | 76,800 |
| Bonus ($) | 10,000 | 11,000 | 12,000 | 12,000 |
| Option Awards – Grant-date FV ($) | 30,250 | 62,200 | 48,015 | — |
| Total ($) | 109,074 | 145,821 | 136,815 | 88,800 |
Investment Implications
- Alignment improving: Hardin’s beneficial share ownership increased materially from 3,349 (2022) to 14,702 (2025), and her options exercisable within 60 days rose from 2,500 to 13,502, signaling growing skin‑in‑the‑game and potential sensitivity to share price .
- Near‑term supply dynamics: A 16,250‑share option exercise in FY 2022 indicates willingness to monetize awards; however, subsequent increases in beneficial ownership through 2025 mitigate ongoing selling pressure concerns .
- Retention risk modest but present: Absence of employment contracts and modest cash compensation (salary ~$76.8K; bonus ~$12K in FY24–FY25) suggest limited contractual retention levers; equity acceleration on change‑of‑control could incentivize continuity until vest dates, but lacks robust severance economics .
- Pay‑for‑performance transparency low: Bonuses are discretionary with no disclosed quantitative targets or weightings; options remain the primary at‑risk component, with multi‑year vesting schedules that align tenure with value realization .