Curtis Anastasio
About Curtis Anastasio
Curtis Anastasio, 68, is an independent director of Par Pacific Holdings, Inc. and has served on the Board since 2014; he currently chairs the Audit Committee and is designated an audit committee financial expert. He holds a JD from Harvard Law School (1981) and a BA, magna cum laude, from Cornell University (1978), and brings 30+ years of upstream/downstream oil and gas leadership including CEO tenure at NuStar Energy L.P. . The Board has affirmatively determined his independence under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NuStar Energy L.P. | President & CEO | IPO in Apr 2001 to retirement Dec 31, 2013 | Led IPO; roles across supply, trading, transportation, marketing, development, legal |
| GasLog Partners LP | Executive Chairman; Chairman | Appointed Feb 2014; IPO May 2014; taken private Jul 2023 | Led successful IPO; chaired Board until take-private |
| Federal Reserve Bank – Dallas | Director; Audit & Executive Committee member | Jan 2014 – Dec 2019 | Served on Audit and Executive Committees |
| Corporate Law Practice (NYC) | Corporate Lawyer | Post-1981 law school | Corporate law practice after graduation |
External Roles
| Organization | Role | Since | Committees/Impact |
|---|---|---|---|
| The Chemours Company | Founding Director; Audit Committee Chairman | Spin-off effective Jul 1, 2015 | Current Audit Chair; governance and financial oversight |
| Core Laboratories (NYSE: CLB) | Director | Elected Jun 2023 | Board service at reservoir description and production enhancement firm |
Board Governance
- Committee assignments: Audit Committee Chair and financial expert; Audit Committee met five times in 2024 .
- Independence: Board determined Anastasio is independent under NYSE and SEC rules .
- Attendance: The Board held six meetings in 2024; all directors attended at least 75% of Board and committee meetings; directors are encouraged to attend the annual meeting and all but one attended in 2024 .
- Cybersecurity oversight: Audit Committee receives quarterly cybersecurity/IT risk updates; the Audit Chair reports to the full Board .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-employee director) | $90,000 | Standard cash retainer for 2024 |
| Annual equity retainer (RS/RSUs) | $100,000 | Paid quarterly; one-year vesting; directors may elect to increase stock with corresponding cash reduction |
| Audit Committee Chair retainer | $20,000 | Additional cash for Audit Chair |
| Total 2024 director compensation (Anastasio) | $210,000 | Fees earned or paid in cash $110,000; RS/RSU awards $100,000 (grant-date fair value) |
Notes:
- No meeting fees; quarterly cash payment cadence; director equity grants vest over one year .
- Deferred compensation plan available to non-employee directors; no amounts deferred in 2024 .
- 2025 director compensation unchanged after Meridian review; next review expected in 2026 .
Performance Compensation
| Element | Performance Linkage | Vesting/Terms |
|---|---|---|
| Director equity (RS/RSUs) | None (time-based) | Quarterly grants; one-year vesting; grant-date fair value recognized per ASC 718 |
The company does not disclose performance-based metrics for non-employee director compensation; equity awards to directors are time-vested RS/RSUs with one-year schedules .
Other Directorships & Interlocks
| Company | Sector | Potential Interlock/Consideration |
|---|---|---|
| Chemours | Chemicals | Audit chair role may broaden governance load; no related-party tie to Par Pacific disclosed |
| Core Laboratories | Oilfield services | Industry adjacency could inform technical oversight; no conflicts disclosed |
| GasLog Partners LP (historical) | LNG shipping | Prior leadership role concluded at take-private in Jul 2023 |
The proxy discloses certain director relationships among other directors (Silberman, Yeaman, Zell) and affirms their independence; no such relationship is noted for Anastasio .
Expertise & Qualifications
- Financial expert (Audit Committee): Designated audit committee financial expert under SEC rules .
- Legal and industry credentials: JD (Harvard), BA (Cornell); extensive upstream/downstream oil and gas leadership including IPO execution and operations .
- Governance depth: Prior chair roles (GasLog Partners), current audit chair at Chemours, service on Federal Reserve Bank – Dallas Audit and Executive Committees .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Curtis Anastasio | 107,372 | <1% | Based on 54,350,924 shares outstanding as of Mar 5, 2025 |
| RSUs outstanding (12/31/2024) | 4,973 | n/a | RSUs held as of year-end 2024 |
| RSUs issuable if departing within 60 days after Mar 5, 2025 | 4,612 | n/a | Contingent issuable upon departure within specified period |
Policies:
- Insider Trading Policy prohibits short sales, options/derivatives, and hedging or monetization strategies by directors and officers .
- Section 16(a) compliance: 2024 late filing notices list multiple officers; Anastasio is not listed among late filers .
Governance Assessment
-
Strengths:
- Independent director with deep sector experience and legal training; audit committee leadership and SEC “financial expert” designation bolster oversight of financial reporting and cybersecurity .
- Solid engagement indicators: Board and committee meeting attendance thresholds met across 2024; audit committee met five times .
- Ownership alignment: Holds >100K shares; regular equity retainer with one-year vesting; hedging/derivative transactions prohibited for directors .
-
Watch items:
- Multi-board commitments (Chemours Audit Chair, Core Labs Director) increase governance workload; investors should monitor bandwidth during periods of heightened audit/cyber activity .
- Director compensation is largely fixed/time-based rather than performance-linked; while common for directors, it provides limited performance alignment beyond ownership .
-
Compensation and pay practices context:
- Director pay mix stable year-over-year; Meridian review led to no changes for 2025, indicating measured approach to board compensation inflation risk .
-
Related-party/conflict controls:
- Audit Committee reviews related-party transactions; policy requires recusal for interested directors; no Anastasio-specific related party transactions are disclosed in the proxy .
-
Signals affecting investor confidence:
- Clear audit oversight process and quarterly cyber reporting with Chair summaries to the Board strengthen risk oversight .
- Affirmed independence and compliance posture (hedging restrictions, clawback policy for executives) support governance quality .