Edward Andrew Scoggins, Jr.
NextDecadeAbout Edward Andrew Scoggins, Jr.
Edward Andrew Scoggins, Jr. (age 45) has served as an independent Class C director of NextDecade Corporation since April 2021. He is Founder and Managing Partner of Millennial Energy Partners (since July 2012) and previously held roles at BG Group leading commercial and operations across upstream, midstream and LNG (2008–2012), Marathon Oil (2005–2008), and Bechtel (2004). He holds a B.S. in Economics and History from Vanderbilt University (Phi Beta Kappa, magna cum laude), an M.S. in Foreign Service from Georgetown University, and is currently pursuing a Master of Energy Transition & Sustainability at Rice University . The Board has determined he is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Scope/Impact |
|---|---|---|---|
| Millennial Energy Partners | Founder & Managing Partner | Jul 2012–present | Energy asset management firm leadership and investment management |
| BG Group | Led commercial & operations teams (Upstream, Midstream, LNG) | Jul 2008–Jul 2012 | Investments across US, Canada, Chile, Equatorial Guinea, Trinidad & Tobago |
| Marathon Oil | Strategic Planning Manager; Community & Public Relations Manager | Aug 2005–Jul 2008 | Corporate planning and stakeholder engagement |
| Bechtel | Project Controls Engineer | 2004 | Project execution in Equatorial Guinea, West Africa |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ultra Petroleum Corp. | Director | Oct 2018–Aug 2020 | Board service |
| Amplify Energy Corp. | Director; Audit Committee Chair | Apr 2017–Aug 2019 | Chaired Audit Committee |
| Vanderbilt University | College of Arts & Sciences Campaign Cabinet | Current | Advancement support |
| Georgetown University | MSFS Advisory Board member | Current | Program advisement |
Board Governance
- Committee assignments:
- Audit Committee member (Chair: L. Spencer Wells; 6 meetings in 2024) .
- Finance Committee member (Chair: Brian Belke) .
- Independence: Independent under Nasdaq listing rules .
- Board leadership: Lead Independent Director is William Vrattos .
- Attendance: Board met 15 times in 2024; each director attended or participated in at least 75% of Board and committee meetings held during their service period .
| Governance Metric | 2024 Value |
|---|---|
| Board meetings | 15 |
| Audit Committee meetings | 6 |
| Director attendance | ≥75% of applicable meetings |
| Independence status | Independent |
| Lead Independent Director | William Vrattos |
Fixed Compensation
| Component | 2024 Amount/Detail |
|---|---|
| Fees earned in cash | $75,000 |
| Equity grant (restricted stock) | $149,997 grant-date fair value; 29,469 restricted shares granted 01/31/2024, vested 01/31/2025; grant priced at $5.09 per share |
| Policy benchmarks (At-large Directors) | Annual Board Cash Retainer increased to $100,000 (effective 01/01/2024); Annual Board Grant increased to $125,000; Annual Board Grant vests on first anniversary |
Notes: At-large Directors may elect to receive the Annual Board Cash Retainer in stock; the Director Compensation Policy provides chair fees ($15,000 for most committees; $20,000 for Audit) and equity grants under the 2017 Equity Plan .
Performance Compensation
No performance-based compensation components are disclosed for non-employee directors; director pay consists of cash retainers, chair fees, and time-based restricted stock grants under the Director Compensation Policy .
Other Directorships & Interlocks
| Company | Type | Role/Committee | Notes |
|---|---|---|---|
| Ultra Petroleum Corp. | Public | Director | Former |
| Amplify Energy Corp. | Public | Director; Audit Chair | Former; chaired Audit |
Board interlocks/observers context: NEXT’s Board includes investor-designated directors and non-voting observers linked to BlackRock, GIP, GIC, and Atlantic Park facilities, reflecting significant strategic investor influence on governance processes .
Expertise & Qualifications
- Upstream/Midstream/LNG operations and project management from BG Group; Bechtel project controls experience .
- Investment and financial acumen via Millennial Energy Partners; prior audit chair experience (Amplify) .
- Academic grounding in economics, international business/policy; ongoing study in energy transition .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (Common Stock) | 185,070 shares; <1% of outstanding |
| Ownership guidelines (At-large Directors) | Required holding equal to 5× Annual Board Cash Retainer; window to comply extended from 3 to 5 years; all At-large Directors compliant as of 12/31/2024 |
| Hedging/Pledging policy | Prohibits pledging and hedging transactions in Company stock for directors, officers, employees |
Insider Trades
| Date | Transaction | Shares | Price | Holdings After | Source |
|---|---|---|---|---|---|
| 2025-09-18 | Open-market purchase | 15,000 | $6.4557 (weighted avg) | 200,070 (Direct) |
Governance Assessment
- Strengths:
- Independent director with relevant LNG and upstream experience; sits on Audit and Finance committees, supporting financial oversight and capital planning rigor .
- Attendance standard met; Board maintained active cadence (15 meetings in 2024) .
- Ownership alignment supported by anti-hedging/pledging policy and director ownership guidelines; At-large Directors compliant as of year-end 2024 .
- Potential risks/considerations:
- Structural governance complexity from multiple investor-designees and non-voting observers tied to financing arrangements and SPAs (TotalEnergies, Hanwha, BlackRock, GIP/GIC, Atlantic Park). While standard for capital-intensive LNG projects, this can create perceived influence asymmetries and related-party oversight demands at the Board level .
- No related-person transactions involving Scoggins were disclosed; continued monitoring appropriate given external affiliations (Millennial), though the Company’s Related Person Transaction Policy requires disinterested Board approval and public disclosure for any such matters .
RED FLAGS
- None disclosed specific to Scoggins: no pledging, no related-party transactions, and compliance with ownership guidelines for At-large Directors as of 12/31/2024 .
- Board-level structural risks to monitor: heavy strategic investor presence and observer rights; ensure robust committee-level review and recusals on transactions linked to investor affiliates .