David J. Tudor
NABORS INDUSTRIESAbout David J. Tudor
David J. Tudor (age 66) was appointed to the Nabors Industries (NBR) Board on July 24, 2025, when the Board was expanded to eight members; he serves on the Audit Committee and the Risk Oversight Committee . He is CEO and General Manager of Associated Electric Cooperative Inc. (AECI) and has held that position since 2016; previously he was President & CEO of Champion Energy Services, where he negotiated and led its sale to Calpine in 2015 . His background spans power markets and energy trading with leadership positions at ACES Power Marketing, PG&E Energy Trading, and Edisto Resources, and he is a graduate of Lipscomb University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Associated Electric Cooperative Inc. (AECI) | Chief Executive Officer & General Manager | Since 2016 | Leads generation for >2 million member-consumers across MO/OK/IA |
| Champion Energy Services | President & CEO | To 2015 (sale to Calpine) | Negotiated and led sale to Calpine in 2015 |
| ACES Power Marketing | Leadership positions | Not disclosed | Power markets expertise |
| PG&E Energy Trading | Leadership positions | Not disclosed | Energy trading expertise |
| Edisto Resources | Leadership positions | Not disclosed | Upstream/energy experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Western Midstream Partners, LP | Director | Not disclosed | Public midstream MLP directorship |
| Electric Power Research Institute (EPRI) | Director | Not disclosed | Industry research non‑profit board |
| America’s Power | Director | Not disclosed | Industry advocacy board |
| National Renewables Cooperative Organization | Director | Since 2016 | Renewables cooperative governance |
| Woodway Energy Infrastructure | Director | Since 2021 | Energy infrastructure board |
| Cox Health Foundation | Director | Current | Non‑profit board service |
Board Governance
- Committee assignments: Audit Committee member; Risk Oversight Committee member .
- Board size: Expanded to eight with his appointment .
- Indemnification: Entitled to indemnity under company Bye‑Laws for board service .
- Related-party review: Company disclosed no transactions since last fiscal year in which Mr. Tudor had a material interest requiring Item 404(a) disclosure; no family relationships with directors/executives were reported .
- Related-party policy oversight (context): ESG Committee of the Board reviews/approves related‑party transactions involving directors and officers .
Fixed Compensation
| Component | Policy/Amount | Mr. Tudor’s 2025 Treatment | Vesting/Notes |
|---|---|---|---|
| Board cash retainer | $100,000 annual cash retainer (policy) | Pro‑rated from 7/24/2025; paid quarterly in arrears | May elect immediately vested stock options in lieu of cash |
| Audit Committee member retainer | $15,000 annual (member) (policy) | Pro‑rated from 7/24/2025 | Paid quarterly in arrears |
| Risk Oversight Committee member retainer | $10,000 annual (non‑Audit committees) (policy) | Pro‑rated from 7/24/2025 | Paid quarterly in arrears |
| Annual director equity | $250,000 restricted stock award (policy) | Pro‑rata portion granted 7/24/2025 | Vests 100% on 7/24/2026 |
| Director stock ownership guideline | 5x annual cash retainer; 3 years to comply | Applicable from appointment date | Each director has three years from first election to meet guideline |
Performance Compensation
| Metric | Applicability | Detail |
|---|---|---|
| Performance‑based metrics for directors | Not applicable | Nabors’ non‑employee director equity is granted as restricted shares; 2025 pro‑rata award vests time‑based on 7/24/2026 (no performance conditions) |
Other Directorships & Interlocks
- Current/Recent boards include Western Midstream Partners, LP; EPRI; America’s Power; National Renewables Cooperative Organization; Woodway Energy Infrastructure; Cox Health Foundation .
- No Nabors‑disclosed related‑party transactions with entities associated with Mr. Tudor as of his appointment (Item 404(a) statement) .
Expertise & Qualifications
- Utility and power market leadership (CEO/GM of AECI since 2016) with operational responsibility across multi‑state generation and delivery footprint .
- Retail power and commercialization track record (led Champion Energy Services sale to Calpine in 2015) .
- Energy trading and risk background (ACES Power Marketing, PG&E Energy Trading) aligned with Audit and Risk Oversight committee work .
- Governance experience across industry boards (Western Midstream Partners, EPRI, America’s Power) .
- Education: Lipscomb University .
Equity Ownership
| Security | Amount/Terms | Status/Date |
|---|---|---|
| Common shares | 700 shares beneficially owned (Form 3) | As of event date 7/24/2025; Form 3 filed 7/25/2025 |
| Restricted stock (director award) | Pro‑rata portion of $250,000 annual award granted 7/24/2025 | Vests 100% on 7/24/2026 |
| Cash retainers in options (optional) | May elect immediately vested stock options in lieu of quarterly cash | Election permitted under policy |
| Ownership guideline | 5x cash retainer; 3 years to comply from first election | Applies from appointment |
Insider filings
| Form | Filing/Event Date | Key Details |
|---|---|---|
| Form 3 | Filed 7/25/2025; event 7/24/2025 | Initial statement of beneficial ownership; 700 common shares; signed via POA by Mark D. Andrews |
Governance Assessment
- Strengths: Adds independent utility/power market perspective to Audit and Risk Oversight, complementing Nabors’ international drilling and technology strategy; appointment increased Board capacity and refreshment . Clear compensation structure with pro‑rated cash and equity; time‑based equity avoids misaligned incentives for directors; stock ownership guideline promotes alignment over time .
- Independence/Conflicts: Company disclosed no related‑party transactions or family relationships upon his appointment; Audit and Risk Oversight roles align with governance best practices; ESG Committee retains oversight of any future related‑party transactions .
- Watch items: Compliance with ownership guideline over the three‑year window will be important for alignment; monitor for any future interlocks or commercial ties between Nabors and entities where Mr. Tudor serves, though none are disclosed as of appointment .