Terri King
OvintivAbout Terri G. King
Terri G. King (age 63) is an independent director of Ovintiv Inc. since 2025, serving on the Environment, Health & Safety (EH&S) and Reserves Committees. She brings 30+ years of global energy leadership across strategy, portfolio management, technology/digital, A&D, trading/marketing, and midstream; prior roles include Vice President & Chief Commercial Officer and multiple business-unit presidencies at ConocoPhillips. Education: MBA (University of Houston), BSc Engineering Science (Trinity University); Licensed Professional Engineer. Ms. King was identified by a third-party search firm and interviewed by the board prior to appointment.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ConocoPhillips | Vice President & Chief Commercial Officer | Not disclosed | Led global supply chain, product marketing and trading, Lower 48 midstream; built global LNG trading; served on corporate council for IT investment decisions including cybersecurity/digital strategy |
| ConocoPhillips | President, Lower 48 | Not disclosed | Technology adoption and optimization to drive safe execution, reliability, environmental performance, and profitability |
| ConocoPhillips | President, Europe & North Africa | Not disclosed | Led operations and strategy in EMEA; advanced HSE management systems tied to quantitative milestones |
| ConocoPhillips | President, United Kingdom | Not disclosed | Designed and implemented new HSE management system reducing emissions |
| ConocoPhillips | Upstream Portfolio Manager | Not disclosed | Led corporate strategy update post Conoco–Phillips merger; led creation of technology strategy |
| ConocoPhillips | Various leadership roles | Not disclosed | Led Upstream Global Talent Management; Upstream Technology Development; Upstream Global Portfolio Management |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Society of Petroleum Engineers | Member | Not disclosed | Professional engagement in industry best practices |
| University of Houston | Energy Advisory Board Member (prior) | Not disclosed | Advisory input on energy curriculum/industry engagement |
| Boys and Girls Clubs of Greater Houston | Board Member (prior) | Not disclosed | Community leadership |
| UK Net Zero Technology Center | Board Member (prior) | Not disclosed | Strategy contributions to net-zero technologies |
| UK Government | Decommissioning Task Force Lead | Not disclosed | Led national task force; board service setting sector strategy |
| City of Farmington, NM | Citizen of the Year (recognition) | United Way sponsorship; Big Brothers & Big Sisters and economic development board service |
Board Governance
- Committee assignments: EH&S Committee member; Reserves Committee member. EH&S Chair: Steven W. Nance; Reserves Chair: Howard J. Mayson.
- Independence: All directors except the CEO are independent; each Audit and HRC committee member meets SEC/NYSÉ independence standards.
- Board refreshment: Added three new independent directors in the past three years; Ms. King added in January 2025.
- Attendance: Board and committee meeting attendance in 2024 was 100% (Ms. King joined in 2025).
- Shareholder support (2025 Annual Meeting): Ms. King received 203,977,847 “For” votes (99.81%); 386,536 “Against”; 172,034 abstain; 14,704,463 broker non-votes.
- Governance policies: Prohibition on hedging/short-selling and pledging/margin accounts for directors; overboarding policy (max three other public boards); change-in-circumstance resignation policy; integrity hotline and majority voting in uncontested elections.
Fixed Compensation
- Independent director compensation program (structure and 2024 levels): 69% equity via Director RSUs; 31% cash or DSUs (director election). Annual retainer: $305,000 for directors; Chair of the Board: $480,000. 2024 chair retainers: Audit $20k; HRC $15k; CRG $15k; other committee chairs $10k.
- 2025 chair retainer increases approved: Audit $25k; HRC $20k; CRG $20k; EH&S $15k; Reserves $15k (cash or DSUs at chair’s election).
| Element | Amount / Mix | Notes |
|---|---|---|
| Annual Director Retainer (cash/DSUs) | $305,000 | Paid/granted quarterly; pro-rated for partial service |
| Chair of the Board Retainer | $480,000 | Independent chair structure |
| Equity (Director RSUs) | 69% of total | Settled immediately under Omnibus Plan (since 2022) |
| Cash or DSUs | 31% of total | Director election; DSUs vest immediately but settle post-board service |
| 2025 Committee Chair Retainers | Audit $25k; HRC $20k; CRG $20k; EH&S $15k; Reserves $15k | Effective beginning 2025 |
Performance Compensation
- Independent directors do not receive performance-based compensation from Ovintiv.
| Performance-linked elements for directors | Status |
|---|---|
| Annual/long-term performance metrics | None for independent directors |
Other Directorships & Interlocks
- Current public company boards: None disclosed in Ms. King’s proxy biography beyond Ovintiv.
- Interlocks/conflicts: No interlocking directorships with other reporting issuers; no reportable related person transactions since Jan 1, 2024.
Expertise & Qualifications
- Strategic/operator: Led major E&P businesses across Lower 48, Europe & North Africa, and UK; technology/digital/cyber investment governance; creation of technology strategy post-merger.
- Commercial: Trading/marketing, midstream modernization, LNG trading; supply chain leadership.
- HSE/ESG: Designed/implemented new HSE management system with quantitative milestones to reduce emissions; EH&S committee member.
- Education: MBA (University of Houston); BSc Engineering Science (Trinity University); Licensed Professional Engineer.
Equity Ownership
| Holder | Beneficial Shares | RSUs/PSUs/Options (unvested post-May 10, 2025) | Total Ownership | % of Outstanding Shares |
|---|---|---|---|---|
| Terri G. King | 0 | 0 | 0 | <1% (“*”) |
- Pledging/hedging: Prohibited for directors; no shares pledged as security by named persons in the ownership table.
- Director ownership guidelines: Minimum ownership equal to 5× annual cash compensation within five years of appointment; all directors meet or are on track per annual evaluation.
Governance Assessment
- Board effectiveness: Strong shareholder support for Ms. King’s election (99.81%) signals confidence in board refreshment and her energy/technology/HSE credentials.
- Alignment: Director ownership guidelines (5× cash retainer) and prohibition on hedging/pledging promote alignment and risk discipline.
- Compensation governance: Directors don’t receive performance-based pay; director equity settles immediately but ownership guidelines and DSU deferral support longer-term alignment.
- Conflicts risk: Prior senior roles at ConocoPhillips (industry competitor) are historical; independence standards applied and no related person transactions reported in 2024–2025.
- Shareholder oversight signals: Majority voting and robust policies (integrity hotline, clawback, overboarding, change-in-circumstance) reduce governance risk; 2025 say-on-pay support at 93.96% indicates investor affirmation of overall pay practices.
Appendix: Election Detail (Terri G. King)
| Measure | Value |
|---|---|
| Votes For | 203,977,847 |
| Votes Against | 386,536 |
| Abstain | 172,034 |
| Broker Non-votes | 14,704,463 |
| For (%) | 99.81% |
RED FLAGS: None observed specific to Ms. King in Ovintiv’s filings. No related-party transactions; no hedging/pledging; attendance was 100% for 2024 board/committees (Ms. King appointed in 2025) and director support was very high. Continue monitoring for overboarding (policy cap = 3 other public boards) and any future related-party disclosures.