Kevin R. Reeves
About Kevin R. Reeves
Kevin R. Reeves (age 58) has served as an independent director of Peoples Bancorp Inc. (PEBO) since 2022. He is Managing Director and Head of US Power Origination (since Jan 2025) and previously Head of US Markets in Zero Carbon Energy within BP’s Gas & Low Carbon Energy Group (since Jan 2022), bringing 30+ years of commodity risk management experience in the regulated energy industry. Prior roles include senior origination and marketing positions at American Electric Power Energy Partners, Reliant Energy, and Enron; he also served as a PATRIOT missile battery launcher platoon leader during the First Gulf War (1988–1993) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BP PLC – Gas & Low Carbon Energy | Managing Director & Head of US Power Origination | Jan 2025–present | Senior leadership in US power origination; energy markets expertise |
| BP PLC – Gas & Low Carbon Energy | Head of US Markets, Zero Carbon Energy | Jan 2022–Dec 2024 | Led US zero carbon energy markets |
| American Electric Power Energy Partners | Energy marketing roles | Aug 2002–May 2014 | Commodity origination and risk management |
| Reliant Energy – Wholesale Group | Director, wholesale energy sales (SW US) | Oct 1999–Jun 2002 | Commercial leadership |
| Enron North America | Manager, industrial and energy marketing | Aug 1995–Oct 1999 | Energy marketing |
| U.S. Army | PATRIOT missile launcher platoon leader | May 1988–May 1993 | Leadership; Gulf War service |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Non-profit boards (unspecified) | Director/Committee member | Not disclosed | Held leadership positions and served on audit and finance committees |
Board Governance
- Independence: The Board determined Reeves is independent under Nasdaq rules; Board is 91% independent (as of Feb 24, 2025) with an independent Board Chair (Susan D. Rector) .
- Attendance: Each incumbent director attended ≥85% of Board and committee meetings in 2024; all then-incumbent directors attended the 2024 annual meeting .
- Executive sessions: Independent directors met in executive session during each Board meeting, chaired by the independent Board Chair .
| Committee | 2024-2025 Status for Reeves | Chair? | Notes/Other Chairs |
|---|---|---|---|
| Audit | Member through Apr 25, 2024; not current | No | Current chair: David F. Dierker |
| Compensation | Member (appointed Apr 25, 2024); current | No | Current chair: S. Craig Beam |
| Governance & Nominating | Member; current | No | Current chair: Brooke W. James |
| Risk | Member; current | No | Current chair: Dwight E. Smith |
| Executive | Not a member | — | Chair: Susan D. Rector |
Fixed Compensation
| Year | Component | Amount | Form/Structure |
|---|---|---|---|
| 2024 | Annual retainer | $92,500 | Paid quarterly; 50% cash, 50% unrestricted common shares |
| 2024 | Committee chair fees | N/A (not chair) | Chairs received: Audit $12,500; Comp/Gov/Risk $7,500 (cash) |
| 2024 | Board Chair premium | N/A | Board Chair received $50,000 (cash) |
| 2024 | Reeves total fees (cash) | $46,250 | Director Compensation table |
| 2024 | Reeves stock awards (value) | $46,250 | Unrestricted common shares per quarterly retainer |
| 2025 (effective Apr 1) | Annual retainer | $105,000 | For non-employee directors |
| 2025 (effective Apr 1) | Committee chair fees | Audit: $20,000; Comp/Gov/Risk: $10,000 | Cash |
| 2025 (effective Apr 1) | Board Chair premium | $60,000 | Cash |
Other: Directors traveling ≥50 miles receive a $150 travel fee or reimbursement for longer travel; eligible (at own cost) for health plans; group term life premiums paid by the company; BOLI benefits apply only to directors serving in 2016 (Reeves joined 2022; not included) .
Performance Compensation
Directors do not receive performance-based incentives. Compensation consists of cash retainers and unrestricted common shares; no options or performance metrics are used for director pay.
| Performance Metric | Applies to Directors? | Notes |
|---|---|---|
| Revenue/EBITDA/TSR/ESG targets | No | Director compensation is retainers (cash + unrestricted stock); no performance-based pay components |
Other Directorships & Interlocks
| Category | Entity | Role | Notes |
|---|---|---|---|
| Public company boards | None disclosed | — | 2025 proxy lists no public company directorships for Reeves |
| Private/non-profit | Various (unspecified) | Director/Committee member | Leadership and audit/finance committee service on non-profit boards |
| Interlocks/Conflicts | None disclosed | — | Board’s independence review found no interfering relationships beyond ordinary-course banking |
Expertise & Qualifications
- 30+ years in commodity risk management in highly regulated energy markets; senior origination roles across BP, AEP, Reliant, Enron .
- Board and committee experience, including audit and finance committees on nonprofit boards .
- Board structure emphasizes independent oversight; risk oversight distributed across Audit, Compensation (risk in pay), and Risk Committees on which Reeves serves (Compensation, Risk) .
Equity Ownership
| Metric | Value | As-of | Notes |
|---|---|---|---|
| Total beneficial ownership (shares) | 10,089 | Feb 24, 2025 | Includes 5,000 shares held in an investment account |
| Ownership as % of outstanding | <1% | Feb 24, 2025 | Per proxy table (PEBO had 35,670,704 shares outstanding) |
| Vested vs. unvested shares | Not applicable | — | Directors receive unrestricted shares for retainers; no director options reported |
| Shares pledged as collateral | Prohibited by policy | Policy-level | Insider Trading Policy prohibits pledging, hedging, short sales, options |
| Stock ownership guideline | 3x annual base director retainer within 5 years of Board entry | Policy-level | Applies to all directors; Reeves joined in 2022 |
Insider Trades (Form 4/5)
Signal: Since mid-2025, Reeves made net open-market purchases (6,000 shares on May 16, 2025 and 1,250 on Nov 11, 2025) offset by a 5,478-share sale on May 15, 2025, increasing net holdings alongside quarterly stock awards [SEC URLs above].
Related Party Transactions and Conflicts
- Ordinary-course banking: Peoples Bank engaged in deposit and loan transactions with certain directors and related parties during 2024 on market terms, within Regulation O, and without unfavorable features; loans were performing and made under standard underwriting and Board approval where required .
- Policy oversight: Related Person Transaction Policy requires Audit Committee review/approval with considerations of independence, dollar values, ordinary course, and third-party comparability .
- Independence review: Board found no financial or personal ties that interfere with independent judgment for Reeves during 2024 .
Director Compensation Details (Reeves)
| Component (2024) | Amount |
|---|---|
| Fees earned or paid in cash | $46,250 |
| Stock awards (unrestricted common shares) | $46,250 |
| Options | — (none) |
| All other compensation | — (none reported) |
| Total | $92,500 |
Compensation framework: Quarterly retainers paid 50% in cash and 50% in unrestricted common shares; director pay designed to align with long-term shareholder interests and set near market median; deferred compensation plan available to directors (cash and stock accounts) .
Say-on-Pay/Consultant Independence (Context)
- The Compensation Committee retains Pay Governance LLC; determined independent with no conflicts in 2024 after considering SEC factors .
Governance Assessment
Strengths
- Independent director with strong risk management background; active on Compensation, Governance & Nominating, and Risk Committees; prior Audit Committee service supports financial oversight continuum .
- Attendance and engagement meet Board standards; independent Board leadership and regular executive sessions provide robust oversight .
- Compensation is balanced between cash and unrestricted stock; ownership guidelines (3x retainer within 5 years) and strict prohibitions on pledging/hedging enhance alignment; insider trading policy and Section 16 compliance noted .
- Recent net open-market purchases are a modest positive alignment signal [SEC URLs table].
Watch items
- External employment at BP (large energy company) introduces potential counterparty/customer relationships; however, the Board’s independence determination and Related Person Transaction Policy framework mitigate conflict risk; no specific related-party transactions disclosed for Reeves –.
- Ownership level is <1% of outstanding shares; compliance with director ownership guideline is policy-driven and not individually disclosed (monitor over five-year window from 2022) .