Benjamin J. Broussard
About Benjamin J. Broussard
Benjamin J. Broussard (age 46) has served on the Stabilis Solutions, Inc. (SLNG) Board since July 26, 2019. He is Chief Financial Officer of The Modern Group, Ltd. (since March 2021), with prior roles as Director of Finance at The Modern Group (2013–2021), commercial banker at Washington Mutual (2001–2008), and roles at T‑Mobile (2008–2011) and as a consultant to Microsoft’s Global Procurement Group (2011–2013). He holds a B.A. from the University of Notre Dame and a J.D. from South Texas College of Law Houston .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Stabilis Solutions, Inc. | Director | Appointed July 26, 2019; continuing | Finance background valued by Board for guidance on Company business |
| The Modern Group, Ltd. | Chief Financial Officer | Mar 2021–present | Senior finance leadership; related-party to SLNG (see Related Transactions) |
| The Modern Group, Ltd. | Director of Finance | 2013–Mar 2021 | Financial oversight prior to CFO role |
| Washington Mutual Bank | Commercial Banker | 2001–2008 | Early finance career |
| T‑Mobile | Various roles | 2008–2011 | Operations/commercial experience |
| Microsoft (Consultant to Global Procurement Group) | Consultant | 2011–2013 | Procurement advisory experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| The Modern Group, Ltd. | CFO | Mar 2021–present | The Modern Group is a related party to SLNG; SLNG leases office space from The Modern Group and purchases supplies/services; J. Casey Crenshaw is President of The Modern Group |
| MG Finance Co., Ltd. (subsidiary of The Modern Group) | CFO | Not specified | Leadership role noted in related‑party disclosure |
Board Governance
- Independence: The Board determined Peter C. Mitchell, Matthew W. Morris, and Edward L. Kuntz are independent; Broussard is not listed as independent .
- Committees: SLNG has standing Audit and Compensation Committees. Current Audit Committee members: Peter C. Mitchell (Chair), Matthew W. Morris, Edward L. Kuntz; Compensation Committee members: J. Casey Crenshaw (Chair), Peter C. Mitchell, Matthew W. Morris, Edward L. Kuntz. Broussard is not a member of either committee .
- Lead Independent Director: The Company does not currently have a lead independent board member .
- Controlled Company: SLNG is a NASDAQ “Controlled Company” (Crenshaw family controls >50% voting power) and avails itself of certain governance exemptions, including committee composition requirements .
- Attendance: The Board held four meetings in 2024; no director attended fewer than 75% of Board and applicable committee meetings. All directors attended the 2024 Annual Meeting .
Fixed Compensation
| Component | Amount/Terms | Year | Notes |
|---|---|---|---|
| Director Cash Retainer (Independent Directors) | $100,000 per annum, payable quarterly | 2024 | Board may elect to pay 50% in common stock with one‑year vesting; in 2024 independent directors received cash only . Broussard is not independent and directors who are not independent receive no separate compensation for director service . |
Performance Compensation
| Component | Grant Details | Year | Performance Metrics |
|---|---|---|---|
| Equity grants (Directors) | Not disclosed for Broussard; independent directors showed no stock awards in 2024 | 2024 | No director‑level performance metrics disclosed; policy permits stock grants but none shown for independent directors in 2024 . |
Other Directorships & Interlocks
| Company | Role Type | Interlock/Conflict Notes |
|---|---|---|
| The Modern Group, Ltd. | Executive (CFO) | Related party to SLNG; SLNG leases office space and purchases supplies/services from The Modern Group; J. Casey Crenshaw (SLNG Executive Chairman/Interim CEO) is President of The Modern Group. Broussard is CFO of both The Modern Group and MG Finance Co., Ltd., creating related‑party exposure on SLNG’s Board . |
| Public Company Boards | Director | None disclosed for Broussard . |
Expertise & Qualifications
- Finance leadership (CFO and Director of Finance tenure at The Modern Group); commercial banking background; procurement consulting experience .
- Legal training (J.D.), adds compliance/governance literacy .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Benjamin J. Broussard | 3,000 | <1% | Based on 18,596,301 shares outstanding as of June 2, 2025 . No options or RSUs disclosed for Broussard; no pledging disclosed . |
Insider Trades and Policies
- Section 16(a) compliance: Company believes all officers/directors complied with ownership reporting requirements in 2024 .
- Hedging/short sales: Prohibited for directors, officers, employees, agents, and advisors; includes puts, calls, short sales, and derivatives .
Related-Party Transactions (Conflict Risk)
| Counterparty | Transaction | Amount/Terms | Period |
|---|---|---|---|
| The Modern Group, Ltd. | Office lease | Rent increased to $28,000 per month effective Mar 1, 2025; lease term extended to Jun 30, 2026 | 2025–2026 |
| The Modern Group, Ltd. (subsidiary) | Supplies/services purchases | $0.2 million (2024); $0.4 million (2023); amounts due at year‑end immaterial | 2024–2023 |
| Chart Energy & Chemicals, Inc. (7.9% holder) | Services purchases | $0.6 million (2024); $0.7 million (2023); amounts due at year‑end immaterial | 2024–2023 |
Note: Related‑party oversight is performed by an independent body of the Board composed solely of independent directors .
Governance Assessment
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Independence and Committee Influence: Broussard is not independent and does not serve on Audit or Compensation Committees, limiting direct oversight influence but reducing committee‑level conflict risks tied to his external roles .
-
Ownership Alignment: De minimis personal stake (3,000 shares, <1%) suggests limited economic alignment versus controlling shareholders; no director equity grants disclosed for him, and policy indicates non‑independent directors receive no separate director pay .
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Conflict Exposure: Significant related‑party ties via The Modern Group—where Broussard is CFO—combined with material transactions (leases and purchases) and Crenshaw family control, elevate perceived conflict risk and may affect investor confidence if oversight is not robust .
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Board Structure and Controls: Controlled Company exemptions are utilized; no lead independent director; Compensation Committee chaired by a non‑independent executive (Crenshaw), which is permissible under exemptions but is a governance quality concern for some investors .
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Attendance/Engagement: 2024 attendance thresholds met; all directors attended the 2024 Annual Meeting, indicating baseline engagement .
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Policies: Strong insider trading restrictions (no hedging/short sales) and independent review of related‑party transactions are positives .
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RED FLAGS:
- Controlled Company governance exemptions (committee composition, majority independent board not required) .
- Non‑independent director with executive role at a significant related party engaging in recurring transactions with SLNG (leases and purchases) .
- Absence of a Lead Independent Director during period when Executive Chairman also serves as Interim CEO .