Eric Yeaman
About Eric Yeaman
Eric Yeaman (57) is an independent director of Par Pacific Holdings, Inc. since 2024, serving on the Audit Committee (financial expert) and Compensation Committee. He is founder and managing partner of Hoku Capital LLC and previously held senior executive roles spanning finance, operations, and M&A; he holds a bachelor’s degree from the University of Hawaii at Moana and began his career at Arthur Andersen LLP. His governance credentials emphasize finance/accounting expertise and operational leadership, with current public board roles at Alexander & Baldwin, Inc. (Chairman) and Alaska Air Group, Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hoku Capital LLC | Founder & Managing Partner | Current | Strategic advisory leadership |
| First Hawaiian Bank (First Hawaiian Inc. subsidiary) | President & COO | Jun 2015–Aug 2019 | Bank operations, finance, M&A |
| Hawaiian Telcom | President & CEO | 2008–2015 | Telecom turnaround/technology operations |
| Hawaiian Electric Company (HECO) | Senior EVP & COO | Prior to 2008 | Utility operations oversight |
| Hawaiian Electric Industries (HEI) | Financial VP, Treasurer & CFO | Joined 2003 | Corporate finance leadership |
| Kamehameha Schools | COO & CFO | 2000–2003 | Endowment operations and finance |
| Arthur Andersen LLP | Staff (early career) | N/A | Audit/accounting foundation |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alexander & Baldwin, Inc. | Chairman of the Board | Current | Board leadership; Hawaii commercial real estate |
| Alaska Air Group, Inc. | Director | Current | Board oversight in aviation |
| DR Fortress LLC; Lanihaua Properties LLC; Palani Ranch Co.; WattIQ; Friends of Hawaii Charities; Harold K.L. Castle Foundation; Hawaii Asia Pacific Association | Director/Trustee roles | Current | Civic/private boards across technology, property, philanthropy |
Board Governance
- Independence: Board affirmatively determined Yeaman is independent under NYSE and SEC standards; Board noted certain inter-director relationships but concluded they do not impair independence.
- Committee assignments: Audit Committee member and financial expert; Compensation Committee member. Audit (5 meetings in 2024); Compensation (4 meetings in 2024).
- Attendance: In 2024 the Board held six meetings; all directors attended at least 75% of Board and committee meetings on which they served. The company encourages annual meeting attendance; except one, all directors attended the 2024 annual meeting.
- Nomination: Recommended by the Nominating & Corporate Governance Committee in 2024; no search firm used.
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Cash fees | $48,750 | Director since May 2024; includes committee member fees paid quarterly |
| Equity grant (restricted stock/RSUs) | $50,000 | Issued quarterly; one-year vesting for director equity |
| Total | $98,750 | Sum of cash and equity |
- Standard director retainer structure (non-employee directors): $90,000 cash + $100,000 common stock annually; option to elect higher stock component with corresponding cash reduction; quarterly payments; RS/RSU vest over one year. Audit Chair $20,000; Audit members $7,500; Compensation Chair $15,000; Ops & Tech Chair $15,000; Nominating & Governance Chair $15,000; Executive Chair $15,000. No meeting fees.
Performance Compensation
- Directors’ pay is not tied to financial or TSR performance metrics; director equity awards are time-based with one-year vesting. No director-specific performance metrics disclosed.
Other Directorships & Interlocks
| Company | Industry | Role | Potential Interlock Considerations |
|---|---|---|---|
| Alexander & Baldwin, Inc. | Commercial real estate | Chairman | Board leadership role outside energy; no related-party transactions disclosed in proxy involving Yeaman. |
| Alaska Air Group, Inc. | Aviation | Director | External public board; Par Pacific’s GICS sub-industry is Oil & Gas Refining & Marketing; Board has a policy for Audit Committee review/approval of related-party transactions; none disclosed involving Yeaman. |
- Compensation Committee interlocks: 2024 members included Anthony Chase, Walter Dods, Katherine Hatcher, Patricia Martinez, and Eric Yeaman; no interlocking relationships with other entities’ compensation committees disclosed.
Expertise & Qualifications
- Audit Committee financial expert; deep finance/accounting background spanning CFO roles and public company governance.
- Executive leadership across banking, telecom, and utilities; experience in business development and M&A.
- ESG oversight: Board committees share sustainability oversight; Audit Committee covers cybersecurity and compliance.
Equity Ownership
| Metric | Mar 5, 2025 | Oct 7, 2025 | Notes |
|---|---|---|---|
| Beneficial ownership (common shares) | 3,830 | 7,288 | Increase reflects director equity awards reported via Form 4 in 2024–2025. |
| % of shares outstanding | <1% | <1% | Based on 54,350,924 shares outstanding as of Mar 5, 2025. |
| RSUs outstanding (12/31/2024) | 0 | N/A | 2024 director equity delivered as restricted stock/RSUs with one-year vest. |
| Hedging/pledging | Prohibited by insider trading policy; hedging/derivatives restricted. |
Insider Trades (Form 4)
| Transaction Date | Filing Date | Type | Shares Transacted | Price | Post-Transaction Ownership | SEC Link |
|---|---|---|---|---|---|---|
| 2024-04-30 | 2024-05-07 | Form 3 (initial) | 0 | — | — | |
| 2024-07-05 | 2024-07-09 | Award (common stock) | 1,015 | $24.62 | 1,015 | |
| 2024-10-05 | 2024-10-08 | Award (common stock) | 1,318 | $18.97 | 2,333 | |
| 2025-01-05 | 2025-01-07 | Award (common stock) | 1,497 | $16.70 | 3,830 | |
| 2025-04-05 | 2025-04-08 | Award (common stock) | 1,935 | $12.92 | 5,765 | |
| 2025-07-05 | 2025-07-08 | Award (common stock) | 795 | $31.45 | 6,560 | |
| 2025-10-05 | 2025-10-07 | Award (common stock) | 728 | $34.32 | 7,288 |
Governance Assessment
- Strengths: Independent director; Audit Committee financial expert; service on key committees (Audit, Compensation); Board reports six meetings in 2024 and ≥75% attendance for all directors, signaling engagement; proxy affirms independence despite inter-director relationships.
- Alignment: Director pay includes meaningful equity with one-year vesting; directors may elect higher stock component, enhancing ownership alignment.
- Committee efficacy: Compensation Committee independence confirmed; no interlocks or insider participation issues; Meridian engaged for director compensation review and executive compensation benchmarking, indicating structured, external validation.
- Risk controls: Robust related-party transaction approval by Audit Committee; prohibition on hedging/derivatives; cybersecurity oversight quarterly to Audit Committee. No Section 16(a) delinquency disclosed for Yeaman in 2024.
- Watch items: Multiple public board commitments (ALEX Chair; ALK Director) may create time demands; continued monitoring of attendance and committee participation is prudent. External roles per proxy; Par Pacific Board notes independence remains intact.
Overall, Yeaman’s finance and operating background, Audit Committee financial expert designation, and equity-linked director pay support board effectiveness and alignment, with no related-party transactions or independence issues disclosed in the latest proxy.