Anthony R. Chase
NABORS INDUSTRIESAbout Anthony R. Chase
Anthony R. “Tony” Chase, age 70, is an independent director of Nabors Industries Ltd., serving since 2019 (board tenure 6 years). He is Chair and CEO of ChaseSource, LP and holds degrees from Harvard College, Harvard Law School, and Harvard Business School. He currently chairs Nabors’ Risk Oversight Committee and serves on the Compensation and ESG Committees; the Board has determined he is independent. Each director, including Mr. Chase, attended 100% of Board and applicable committee meetings in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ChaseSource, LP | Chairman & CEO | Not disclosed | Leads staffing, facilities management, and real estate platform |
| Chase Radio Partners | Founder; sold to Clear Channel Communications | 1992–1998 | Built and exited multi-station radio platform |
| Cricket Wireless (with Qualcomm) | Co-founder of initial markets | Founded 1993 | Opened Chattanooga and Nashville markets |
| ChaseCom | Founder; sold to AT&T | Sold in 2007 | Built and operated U.S./India call centers |
| Marriott Hotel at IAH; Principle Auto Toyota (Memphis) | Principal owner | Not disclosed | Hospitality and auto retail operations |
| University of Houston Law Center | Professor of Law Emeritus | Not disclosed | Academic credentials; legal expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| LyondellBasell Industries N.V. (NYSE: LYB) | Director | Current | Public company board |
| Cullen/Frost Bankers, Inc. (NYSE: CFR) | Director | Current | Public company board |
| National Energy Services Reunited (NASDAQ: NESR) | Director | Current | Public company board |
| Par Pacific Holdings, Inc. (NYSE: PARR) | Director | Until 2024 | Prior public company board |
| Heritage-Crystal Clean, Inc. | Director | Until 2022 | Prior public company board |
| SANAD (Saudi Aramco Nabors Drilling JV) | Director | Current | Received cash compensation for SANAD board service |
Board Governance
- Committee assignments and roles:
- Risk Oversight Committee: Chair
- Compensation Committee: Member
- ESG Committee: Member
- Independence: Board determined all directors except the CEO are independent; Mr. Chase meets NYSE/SEC committee independence standards .
- Attendance: 100% attendance at Board and served committees in 2024; Board/committees held 24 meetings across 2024 .
- Engagement: Independent Lead Director and committee chairs led shareholder engagement; Chair of Risk Oversight (Tony Chase) joined some discussions .
- Director commitments policy: Non-employee directors capped at four public company boards; ESG Committee annually reviews commitments; current compliance affirmed .
Fixed Compensation
| Component (2024) | Amount (USD) | Detail |
|---|---|---|
| Board cash retainer | $150,000 | Cash fees earned |
| Stock awards | $62,471 | 951 restricted shares granted 6/4/2024; $62,500 divided by $65.69 to determine share count |
| Option awards | $0 | No new option grants; see equity ownership for outstanding options |
| All other compensation | $491,500 | Deferred cash award $187,500; Special Committee fees $154,000; SANAD board cash $150,000 |
| Total (2024) | $703,971 | Sum of components |
Current director compensation policy (effective 2024–2025):
- Annual limits: Up to $750,000 per director per calendar year under Limitation Policy .
- Standard retainers: Board cash $100,000; Board restricted stock $250,000; Committee member (non-Audit) cash $10,000; Committee Chair (non-Audit) cash $30,000; Audit Chair $60,000; Audit member $15,000; Independent Lead Director $35,000 .
- Directors may elect immediately vested stock options in lieu of quarterly cash retainers (none elected in 2024) .
- Ownership guidelines: 5x annual cash retainer; compliance affirmed for all directors .
Performance Compensation
| Equity Award | Grant Date | Shares/Units | Grant-date Fair Value | Vesting/Status |
|---|---|---|---|---|
| Restricted shares (annual grant) | June 4, 2024 | 951 shares | $62,500; share price $65.69 used for share count | Unvested shares outstanding: 951 as of 12/31/2024 |
Note: Director equity grants are time-based restricted shares; no director-specific performance metrics disclosed for equity vesting. Director awards can be deferred or adjusted to preserve share availability (2024 deferred cash election) .
Other Directorships & Interlocks
| Company | Sector | Potential Interlock/Notes |
|---|---|---|
| LYB (chemicals) | Chemicals | No specific Nabors-related transactions disclosed |
| CFR (banking) | Financials | No specific Nabors-related transactions disclosed |
| NESR (oilfield services) | Energy services | No conflict disclosed; service noted |
| SANAD (JV with Saudi Aramco) | Drilling JV | Cash compensation received for SANAD board service; SANAD is material to Nabors strategy; JV governance in Board oversight |
No related-party transactions involving Mr. Chase are disclosed in the “Certain Relationships and Related Transactions” section; 2024 related-party analysis focuses on Mr. Crane’s CCG transactions determined immaterial and at arm’s length .
Expertise & Qualifications
- Executive/board experience across oil and gas, risk oversight, environmental law, real estate, and human capital management; public and private boards experience .
- Academic: Professor of Law Emeritus (UH Law Center); Harvard College, Harvard Law School, Harvard Business School .
- Board skills matrix identifies Chase with public company director, governance, oil and gas/drilling, CEO/business head, international, finance, financial literacy, investment banking, technology, legal, strategy, risk management, HSE expertise .
Equity Ownership
| Beneficial Owner | Shares Owned | Ownership % | Components/Notes |
|---|---|---|---|
| Anthony R. Chase | 11,335 | <1% | Includes 1,829 fully vested stock options and 1,699 warrants eligible to vest within 60 days; restricted shares counted as outstanding; as of April 4, 2025 |
Outstanding equity instruments (as of 4/4/2025):
- Options: 1,829 (fully vested) .
- Warrants: 1,699 (vest within 60 days) .
- Restricted shares: 951 unvested (granted 6/4/2024) .
- Ownership guidelines compliance: Yes (company-wide affirmation) .
Governance Assessment
- Strengths:
- Independent director with 100% attendance and active committee leadership (Risk Oversight Chair), indicating strong engagement and oversight .
- Broad executive/operator and legal background relevant to risk, compliance, and human capital; complementary to Nabors’ international and technology-forward strategy .
- Clear independence determination by Board; committee independence standards met .
- Direct participation in shareholder engagement alongside Lead Independent Director and Compensation Chair, signaling responsiveness to investor concerns .
- Alignment:
- Mix of cash and equity compensation; equity grants and ownership guidelines promote alignment; confirmed guideline compliance .
- Potential red flags and monitoring items:
- Additional compensation tied to Special Committee service (NETC/VSTE; NETD/e2 transactions) and SANAD board compensation—appropriate disclosures provided; monitor time commitments and JV oversight rigor .
- Broader governance sentiment risk: 2024 Say-on-Pay approval 55.15% suggests investor scrutiny of compensation practices; continued engagement and program refinements underway .
Overall, Anthony R. Chase exhibits strong board effectiveness through leadership of risk oversight, full attendance, and meaningful external experience. Disclosures show no related-party transactions involving Mr. Chase; equity ownership and director compensation structure indicate alignment with shareholders, with additional monitoring warranted on JV board service and special committee workload .