Joseph Wright
OIL STATES INTERNATIONALAbout E. Joseph Wright
Independent director (age 65) serving on the Oil States International, Inc. board since May 2018; currently a member of the Compensation Committee and the Nominating, Governance & Sustainability (NG&S) Committee and determined independent under NYSE standards . He is an independent partner at Geneses Capital Management (since February 2021) and retired as EVP & COO of Concho Resources in January 2019; prior roles include VP Operations and Engineering at Concho Oil & Gas Corp and operational/engineering roles at Mewbourne Oil Company . Wright holds a B.S. in Petroleum Engineering from Texas A&M University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Concho Resources Inc. | Executive Vice President & Chief Operating Officer; earlier Senior VP & COO; VP Engineering & Operations | 2004–Jan 2019 | Oversaw drilling/completions, regulatory affairs, HR; extensive operations leadership |
| Concho Oil & Gas Corp | Vice President, Operations & Engineering | 2001–2004 | Operations leadership during company formation and sale |
| Mewbourne Oil Company | Operations, engineering, and capital markets roles | Not specified | Diverse technical and financial experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CES Energy Solutions Corp. | Director (current) | Not disclosed | Not disclosed |
| Concho Resources Inc. | Director (former) | May 2017–Jan 2021 | Not disclosed |
| Geneses Capital Management, LLC | Independent Partner | Since Feb 2021 | Investment/partner role |
Board Governance
- Independence: Board has affirmatively determined Wright is independent; only CEO is non-independent .
- Committee memberships: Compensation Committee (member) and NG&S Committee (member) .
- Committee meeting cadence 2024: Audit (5), Compensation (4), NG&S (3) .
- Attendance: Each director attended at least 90% of Board/committee meetings in 2024, and all attended the 2024 Annual Meeting; independent directors held 4 executive sessions, chaired by the independent Board Chair .
- Structure: Separate independent Chair and CEO; annual Board and committee self-evaluations; ERM oversight allocated across committees .
| Committee | Wright’s Role | Meetings in 2024 |
|---|---|---|
| Compensation | Member | 4 |
| Nominating, Governance & Sustainability | Member | 3 |
Fixed Compensation
- Program structure (2024): Annual cash retainer $60,000; $2,000 per meeting; committee chair/member retainers (Comp Chair $15,000; Comp member $5,000; NG&S Chair $15,000; NG&S member $5,000); Board Chair retainer $100,000 (50% cash/50% stock); annual equity grant ~$150,000 .
- Change in 2024: No changes to director compensation program in 2024 .
- Stock ownership guidelines: Directors must retain shares valued at 5x annual board retainer; achieve within 5 years; all directors in compliance as of 12/31/2024 .
| Year | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 92,000 | 149,998 | 241,998 |
| Grant Date | Shares Granted | Grant Date Fair Value ($) | Vesting |
|---|---|---|---|
| May 7, 2024 | 33,259 | 149,998 | Vest on earlier of 1 year or next Annual Meeting; fully vest on change of control |
Performance Compensation
- Directors receive time-based equity (restricted stock or deferred stock units); no performance conditions for director equity awards .
- Vesting & acceleration: Minimum one-year vesting for performance-based awards and three-year for tenure-based under the plan; director awards vest earlier only within 5% plan exception or upon death, disability, retirement, or change of control; director equity accelerates on change of control .
| Element | Metric/Condition | Weight | Outcome |
|---|---|---|---|
| Annual equity grant | Time-based vesting (RS/DSU); no performance metrics | 100% | Granted 5/7/2024; 33,259 shares; vests as noted |
Other Directorships & Interlocks
| Company | Relationship to OIS | Potential Interlock/Exposure |
|---|---|---|
| CES Energy Solutions Corp. (current director) | Oilfield services company | Industry adjacency noted; no related-party transactions disclosed by OIS involving Wright |
| Concho Resources Inc. (former director) | E&P company | Historical role; no current OIS transactions disclosed |
Expertise & Qualifications
- Executive leadership; energy/oilfield services; financial experience; outside board experience .
- Technical credential: B.S. Petroleum Engineering (Texas A&M) .
Equity Ownership
| Holding Category | Amount | % of Shares Outstanding |
|---|---|---|
| Total beneficial ownership (as of 3/19/2025) | 115,359 shares | <1% |
| Unvested restricted/deferred awards (as of 12/31/2024) | 33,259 shares | N/A |
| Vested deferred stock units | 0 | N/A |
| Pledged or margined shares | Prohibited by policy | N/A |
| Hedging transactions | Prohibited by policy | N/A |
| Ownership guideline compliance | In compliance (all directors) | N/A |
Governance Assessment
-
Strengths
- Independence and dual committee service (Compensation; NG&S) support board effectiveness and oversight of pay practices and ESG/sustainability policies .
- Strong attendance and engagement; all directors ≥90% attendance and present at the Annual Meeting; independent executive sessions conducted four times in 2024 .
- Alignment: Significant equity-based director pay; annual RS/DSU grants and 5x retainer ownership guideline; change-of-control vesting clarifies treatment; anti-hedging/pledging improves alignment and risk control .
- Compensation governance: Compensation Committee is fully independent; uses an independent consultant (Meridian); peer group reviewed/updated; no repricing of options; no guaranteed bonuses; robust recoupment/clawback for NEOs indicative of committee oversight quality .
-
Watch items
- External board at CES Energy Solutions creates industry network ties; while not a related-party exposure per OIS’s disclosures, continued monitoring for potential competitive/conflict intersections is prudent .
- As a member of the Compensation Committee, Wright participates in pay decisions; 2024 Say-on-Pay support of 85% indicates investor acceptance but bears ongoing monitoring in cyclical environments .
No related-party transactions involving Wright were disclosed; conflict-of-interest policies and annual independence assessments are in place through the NG&S and Audit Committees .