Helima Croft
About Helima Croft
Helima Croft (age 53) has served as an independent director of Reservoir Media, Inc. since 2021. She is a Managing Director and Head of Global Commodity Strategy and MENA Research at RBC Capital Markets (since 2014), previously led North American Commodities Research at Barclays (2008–2014), worked at Lehman Brothers’ Business Intelligence Group (2005–2008), and served as a senior economic analyst at the CIA (2001–2005). She holds a Ph.D. in Economic History from Princeton University (2001) and an undergraduate degree from the University of Edinburgh (1993), with recognized affiliations including Life Member of the Council on Foreign Relations and member of the Trilateral Commission .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Barclays | Managing Director; Head of North American Commodities Research | 2008–2014 | Led commodities research |
| Lehman Brothers | Business Intelligence Group | 2005–2008 | Strategic analysis |
| Central Intelligence Agency | Senior Economic Analyst | 2001–2005 | Economic intelligence |
| Council on Foreign Relations | National Intelligence Fellow | 2003–2004 | Fellowship role |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| RBC Capital Markets | Managing Director; Head of Global Commodity Strategy and MENA Research | 2014–present | Senior commodities strategist |
| CNBC | Contributor | 2016–present | Media contributor |
| Atlantic Council | Board Director; Executive Committee Member | Since 2018 | Policy think tank governance |
| National Petroleum Council | Member | Since 2016 | Energy advisory body |
| Council on Foreign Relations | Life Member | N/A | Lifelong membership |
| Trilateral Commission | Member | N/A | Policy forum membership |
Board Governance
- Committee assignments: Member, Nominating and Corporate Governance Committee; not a chair .
- Independence: Board determined Croft is an Independent Director under Nasdaq rules .
- Attendance and engagement: In FY2025, the Board held 8 meetings; Nominating & Corporate Governance met 4; Audit met 5. All nine directors attended at least 75% of Board and relevant committee meetings; directors are encouraged and expected to attend the Annual Meeting .
- Board leadership: Independent Chair (Ezra S. Field); independent chairs for Audit, Compensation, and Nominating committees .
- Stock ownership guidelines: Non-Employee Directors must hold company stock/DSUs equal to 5× the annual cash retainer ($20,000); 5-year compliance window; all Non-Employee Directors are in compliance as of the proxy date .
- Hedging policy: Long-term hedging (≥12 months) permitted with pre-clearance; speculative hedging discouraged .
- Clawback: Incentive Compensation Clawback Policy adopted effective Oct 2, 2023, compliant with Exchange Act §10D and Nasdaq listing standards .
Fixed Compensation
| Metric (USD) | FY 2024 | FY 2025 |
|---|---|---|
| Annual cash retainer | $20,000 | $20,000 |
| Committee chair fees | None (not a chair) | None (not a chair) |
| Meeting fees | Not disclosed (none indicated) | Not disclosed (none indicated) |
| Total cash paid | $20,000 | $20,000 |
Performance Compensation
| Equity Component | FY 2024 | FY 2025 |
|---|---|---|
| Annual RSU grant value | $80,000 | $80,000 |
| Grant date | Sep 8, 2023 (Croft’s prior-year grant timing) | Aug 27, 2024 |
| Vesting schedule | Vests on Jul 28, 2024 (time-based) | Vests on Jul 28, 2025 (time-based) |
| Performance metrics tied to director equity | None disclosed (time-based RSUs) |
Director equity is time-based; no performance conditions are specified for Non-Employee Director RSUs, distinguishing director compensation from executive performance-based awards .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed in RSVR proxy (Croft’s roles listed are RBC, media contributor, and non-profit/industry bodies) |
| Shared directorships with RSVR counterparties | None disclosed for Croft; company has a related party review process overseen by the Audit Committee |
| Related party transactions involving Croft | Not identified among disclosed related party transactions in proxy sections |
Expertise & Qualifications
- Commodities strategy and geopolitical risk expertise (RBC Head of Global Commodity Strategy and MENA Research) .
- Prior intelligence and finance experience (CIA, Lehman, Barclays) .
- Recognitions include Breaking Energy’s Top Ten New York Women in Energy and Oil and Gas Investor’s Top 25 Most Influential Women in Energy (2019) .
- Education: Ph.D. Princeton (2001); University of Edinburgh (1993) .
Equity Ownership
| As of date | Shares beneficially owned | Ownership % |
|---|---|---|
| June 2, 2025 | — (not reported as beneficial ownership) | — |
- Director RSU holdings: Croft received $80,000 of RSUs on Aug 27, 2024 scheduled to vest on Jul 28, 2025, aligning equity with service-based vesting .
- Ownership guidelines compliance: All Non-Employee Directors (including Croft) are in compliance with the 5× cash retainer stock/DSU guideline as of the proxy date .
Governance Assessment
- Alignment signals: Independent director; active Nominating & Governance Committee member; attended at least 75% of meetings; equity-heavy director pay ($80k RSUs vs $20k cash) supports long-term alignment .
- Skin-in-the-game: No beneficial ownership reported as of June 2, 2025, though RSUs are outstanding and scheduled to vest, partially offsetting low reported ownership .
- Conflicts and overboarding: Company policy limits simultaneous service (≤3 other public company boards; ≤2 other audit committees), and Croft’s disclosed external roles are primarily non-public/non-profit; related-party transactions are reviewed by the Audit Committee under a formal policy .
- Risk controls: Insider trading policies with pre-clearance; permitted long-term hedging; clawback policy in place; independent board leadership structure .
Red flags:
- None disclosed specific to Croft (no related-party transactions; no attendance issues; no chair fee modifications). Note that permitted long-term hedging requires monitoring for potential misalignment, though pre-clearance mitigates risk .