A. James Teague
About A. James Teague
A. James Teague (age 80) has served on SEI’s Board since May 2017 and is currently an independent Class III director and a member of the Compensation Committee. He is Co‑Chief Executive Officer of Enterprise Products Holdings LLC and has deep operating experience across midstream, hydrocarbons, and energy trading from prior senior roles at Enterprise, Tejas Natural Gas Liquids, MAPCO, and Dow Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Enterprise Products Holdings LLC (“Enterprise”) | Co‑Chief Executive Officer | Jan 2020 – present | Co‑Chairman, Capital Projects Committee since Nov 2016 |
| Enterprise | Chief Executive Officer | Jan 2016 – Jan 2020 | Senior leadership across strategy and operations |
| Enterprise | Chief Operating Officer | Nov 2010 – Dec 2015 | Operational oversight |
| Enterprise | Executive Vice President | Nov 2010 – Feb 2013 | Executive leadership |
| Tejas Natural Gas Liquids, LLC (Shell affiliate) | President | 1998 – 1999 | Commercial leadership |
| MAPCO, Inc. | President, Marketing & Trading | 1997 – 1998 | Commercial/market-facing leadership |
| Dow Inc. | Various roles incl. Vice President, Hydrocarbon Feedstocks | ~22 years prior to 1997 | Feedstocks, operations expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Enterprise Products Holdings LLC | Director | Since July 2008 | General partner to Enterprise Products Partners L.P.; governance and capital projects oversight |
| Enterprise | Co‑Chairman, Capital Projects Committee | Since Nov 2016 | Capital allocation and project governance |
Board Governance
- Independence: The Board determined Teague is independent under NYSE listing standards.
- Committee service: Member, Compensation Committee (the committee is fully independent).
- Attendance: Each director attended at least 75% of Board and committee meetings in 2024; all directors attended the 2024 Annual Meeting.
- Tenure/class: Director since 2017; Class III.
- Compensation Committee structure: Chair is F. Gardner Parker; members Ray N. Walker, Jr. and A. James Teague; met twice and acted by unanimous written consent once in 2024.
- Lead Independent Director: F. Gardner Parker serves as Lead Independent Director for executive sessions since March 2019.
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non‑employee director) | $65,000 | Paid quarterly in arrears; Teague received $65,000 in 2024. |
| Committee chair retainers | $75,000 (Comp/Nom Gov chairs); $90,000 (Audit chair) | Not applicable to Teague (not a chair). |
| Lead Independent Director retainer | $20,000 | Not applicable to Teague. |
| Meeting fees | $0 | None; reasonable travel expenses reimbursed. |
2024 Director Compensation (Teague):
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | $65,000 | $151,310 | $216,310 |
Performance Compensation
| Equity Award Type | Grant Date | Unvested Shares at 12/31/2024 | Vesting | Grant Date Fair Value |
|---|---|---|---|---|
| Restricted Stock (Director RSAs) | Aug 2024 | 12,372 | Time‑based (director program) | Included in $151,310 2024 stock awards |
- Director equity program: Annual equity grant FV $140,000 for all non‑employee directors, plus $5,000 for Compensation Committee members (non‑chair). Actual grant values reflect ASC 718 valuations at grant. Teague’s 2024 stock award totaled $151,310.
- No options and no performance‑based metrics are used for director awards; the program favors RSAs to align interests and limit dilution.
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|
| Enterprise Products Holdings LLC | Co‑CEO; Director | Co‑Chair, Capital Projects Committee | No SEI‑disclosed related party transactions with Enterprise in 2024. |
- Compensation Committee interlocks: None; no SEI executive served on another entity’s board/comp committee with reciprocal ties in 2024.
Expertise & Qualifications
- 45+ years energy and operations experience across midstream, hydrocarbons, trading, and feedstocks; senior leadership at Enterprise, MAPCO, and Dow.
- Capital projects governance experience as Co‑Chair of Enterprise’s Capital Projects Committee.
- Brings operating rigor and commercial acumen relevant to SEI’s logistics and power solutions strategy.
Equity Ownership
| Holder | Class A Shares | Class B Shares | Combined Voting Power | Notes |
|---|---|---|---|---|
| A. James Teague | 100,459 (<1%) | — | 100,459 | Includes 12,372 unvested RSAs; includes 4,000 Class A held by family member; Teague disclaims beneficial ownership beyond pecuniary interest; no pledges. |
- No current director/officer has pledged SEI shares; hedging and pledging prohibited by Insider Trading Policy absent Audit Committee waiver.
Governance Assessment
- Independence and committee role: Independent director with Compensation Committee oversight; positive for board balance and pay governance.
- Attendance: Met or exceeded minimum attendance standards; attended 2024 Annual Meeting, signaling engagement.
- Pay structure: Director pay balanced between modest cash retainer and equity RSAs; no meeting fees; aligns incentives with shareholders.
- Ownership alignment: Direct Class A holdings (including unvested RSAs) and no pledging support alignment; however, ownership remains <1% given dual‑class structure.
- Conflicts/related parties: No related party transactions disclosed involving Teague; SEI’s related party items in 2024 principally involved CEO‑affiliated entities and MER sellers (KTR/J Turbines).
- Compensation governance: Compensation Committee is fully independent and empowered to retain advisers; Pearl Meyer engaged to review director compensation; no interlocks noted.
- Shareholder feedback: Strong say‑on‑pay support (~96% in 2024) indicates investor confidence in compensation practices.
- Policies: Robust anti‑hedging/pledging and clawback policies; positive governance signals.
RED FLAGS: None disclosed specific to Teague (no related party transactions, no Section 16(a) delinquencies, no pledging). Monitoring recommended for potential industry overlap given Enterprise leadership, but no SEI‑disclosed conflicts in 2024.