Rommel M. Oates
About Rommel M. Oates
Rommel M. Oates (age 45) is an independent Class III director of Summit Midstream Corporation; he joined the Company’s board in August 2024 after serving on the general partner’s board since February 2022. He is Founder, Chairman and CEO of Oates Energy Solutions LLC and Refinery Calculator Inc., holds 18 patents in hydrogen storage, and brings clean energy technology expertise; his education includes an MBA and Master of Finance from Tulane University and BS/MS Mechanical Engineering (Pi Tau Sigma honors) from the University of Miami .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Oates Energy Solutions LLC | Founder, Chairman & CEO | Current (noted at time of proxy) | Hydrogen storage patents and commercialization focus |
| Refinery Calculator Inc. | Founder, Chairman & CEO | Current | Energy analytics leadership |
| Aquahydrex Pty Ltd (TNVP portfolio) | Executive leadership roles in sales, marketing, commercial development | 2016–2018 | Commercial scaling in hydrogen electrolyzers |
| True North Venture Partners | Senior Director, Commercial Development (Management Partners team) | 2015–2016 | Portfolio commercialization strategy |
| Praxair Inc. (now Linde) | Director Hydrogen & CO Product Mgmt; Sr. Account Dir (Pipeline/On-sites); General Business Manager (Electronics Houston) and Operations/Engineering roles | 2003–2015 | Hydrogen/carbon monoxide product management; operations excellence |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Suburban Propane Partners, L.P. | Board of Supervisors member | Since May 2023 | Audit Committee; Nominating & Governance Committee |
| International Association of Hydrogen Energy | Board Member | Since 2014 | Industry advocacy and technical leadership in hydrogen |
Board Governance
- Board class and term: Class III; current term expires at the 2027 Annual Meeting .
- Independence: Determined independent by the Board and NYSE standards; all members of the Nominating, Governance & Sustainability (NGS) Committee are independent .
- Committee assignments: Member, Nominating, Governance & Sustainability Committee .
- Attendance and engagement: Board held 10 meetings in 2024; NGS held 5; each director attended all quarterly Board and committee meetings during their service period in 2024; no director attended fewer than 75% of combined Board and committee meetings .
- Board leadership context: Lead Director is James J. Cleary, who presides over executive sessions of independent directors; CEO is also Chair, with Lead Director providing independent oversight .
Fixed Compensation (Director – 2024)
| Component | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 100,000 | Standard for independent directors |
| Lead Director fee | 0 | Not applicable (Oates is not Lead Director) |
| Committee chair fee | 0 | Not applicable (Oates is not a chair) |
| Total cash | 100,000 | Sum of cash components |
Performance Compensation (Director Equity – 2024)
| Grant Type | Grant Date | Units/Shares | Grant Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| Common units (SMLP) | Jan 18, 2024 | 6,581 | 105,954 | Fully vested at grant; no outstanding director awards at 12/31/2024 |
- Director equity holding guidelines: Non-employee directors must hold SMC equity valued at 3x annual cash retainer; as of Dec 31, 2024, all covered directors exceeded guideline thresholds (alignment positive signal) .
- Options policy: Company does not currently grant stock options or option-like instruments; no timing policy applicable (reduces risk of option repricing) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock Notes |
|---|---|---|---|
| Suburban Propane Partners, L.P. | Board of Supervisors | Audit; Nominating & Governance | Energy sector overlap; no related-party transactions disclosed with SMC |
Expertise & Qualifications
- Clean energy/hydrogen specialist with 18 patents and leadership in hydrogen storage; board member of IAHE since 2014 .
- Founder-operator background in energy technology and analytics (Oates Energy Solutions; Refinery Calculator Inc.) .
- Technical and financial credentials: MBA and Master of Finance (Tulane); BS/MS Mechanical Engineering (University of Miami; Pi Tau Sigma honors) .
Equity Ownership (SMC)
| Holder | Security | Shares/Units | % of Class | Notes |
|---|---|---|---|---|
| Rommel M. Oates | Common Stock | 22,437 | <1% | Beneficial ownership; combined voting power <1% |
| Unvested Director Awards | N/A | 0 | N/A | No outstanding director equity awards at 12/31/2024 |
| Ownership Guidelines | Requirement | 3x annual cash retainer | Compliance | Exceeded as of 12/31/2024 |
| Pledged/Hedging | — | — | — | Insider Trading Policy discourages speculative trading; no pledging disclosed for Oates in Security Ownership section |
Governance Assessment
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Strengths
- Independent director with strong attendance; member of the NGS Committee overseeing director nominations, governance practices, and ESG strategy/reporting .
- Clean energy and hydrogen expertise adds technology and sustainability perspective aligned with NGS mandate and Company’s ESG disclosures .
- Compensation alignment: balanced cash/equity mix (~$100k cash vs ~$106k equity in 2024) and compliance with 3x retainer ownership guideline enhances “skin-in-the-game” .
- No related-party transactions involving Oates disclosed since Jan 1, 2024 (low conflict signal); Compensation Committee reported no interlocks during 2024 .
-
Watch items
- Multiple external roles (Suburban Propane board; private company leadership) require ongoing monitoring of time commitments; the Board’s candidate criteria explicitly assess willingness to commit adequate time to Board matters .
- Board composition includes Class B Directors designated by Tailwater under governance agreements; while not specific to Oates, investor-designated directors can influence dynamics—relevant context for governance oversight by independent directors .
-
Policies supporting investor confidence
- Lead Director structure ensures independent oversight when CEO is Chair .
- Insider Trading Policy discourages speculative trading (e.g., options) and requires preclearance, reducing alignment risks .
Overall: Oates appears to enhance Board effectiveness through ESG/clean energy expertise and independent committee service, with satisfactory attendance and ownership alignment. No conflicts or related-party exposures involving Oates are disclosed; continued monitoring of external commitments and investor-designated director dynamics is prudent for governance quality .