Rhys J. Best
Texas Pacific LandAbout Rhys J. Best
Independent non‑executive Chair of Texas Pacific Land Corporation; age 79; director since April 15, 2022. Former Chairman, President and CEO of Lone Star Technologies (retired after its 2007 merger with U.S. Steel); named NACD Director of the Year in 2014. Core credentials include energy industry leadership, financial oversight, governance expertise, and broad public company board experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lone Star Technologies, Inc. | Chairman, President & CEO | Retired post-2007 merger | Led company to successful merger with U.S. Steel |
| Crosstex Energy, LP (NASDAQ: XTEX) | Director; Chairman of the Board | 2004–2014; Chair 2009–2014 | Board leadership in midstream enterprise |
| MRC Global, Inc. (NYSE: MRC) | Director; Chairman of the Board | 2008–2022; Chair 2016–2022 | Board leadership in PVF distribution |
| Cabot Oil & Gas Corp. (now Coterra Energy) | Director; Lead Director | 2008–2021; Lead Director 2021 | Tenure ended after 2021 merger forming Coterra |
| Commercial Metals Company (NYSE: CMC) | Director | 2010–2022 | Public company board experience |
| Trinity Industries, Inc. (NYSE: TRN) | Director | 2005–2018 | Public company board experience |
| Austin Industries | Director; Chairman of the Board | 2007–2018; Chair 2013–2018 | Board leadership at employee‑owned contractor |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Arcosa Inc. (NYSE: ACA) | Non‑Executive Chairman | Since 2018 | Current public company chair |
Board Governance
- Role: Non‑executive Chair; duties include chairing board and stockholder meetings, setting agendas, leading executive sessions, approving schedules and materials, and consulting on board performance and membership .
- Independence: 9 of 10 directors were independent in 2024; Best is independent .
- Committee assignments: Best is not currently seated on standing committees (serves as Board Chair) .
- Attendance and engagement: The Board met 14 times in 2024 plus 4 written consents; each director attended at least 86% of Board and committee meetings and attended the 2024 annual meeting; independent directors hold executive sessions after regularly scheduled Board meetings .
- Majority vote policy and declassification: Board is declassified beginning 2025; majority vote resignation policy applies to uncontested elections .
Committee Assignment Summary (Best)
| Committee | Role |
|---|---|
| Board of Directors | Chair |
| Audit | Not a member |
| Compensation | Not a member |
| Nominating & Corporate Governance | Not a member |
| Strategic Acquisitions | Not a member |
Skills and Qualifications (as disclosed)
| Skill Area | Best |
|---|---|
| Public Company CEO/COO Experience | Yes |
| Financial Oversight/Accounting | Yes |
| Industry Experience (Oil & Gas) | Yes |
| Public Policy/Regulatory | Yes |
| HES/ESG Experience | Yes |
| Risk Management | Yes |
| Independence | Yes |
| Public Company Board Experience | Yes |
Fixed Compensation
| Component | 2024 Amount | 2025 Amount | Notes |
|---|---|---|---|
| Annual base retainer (cash) | $105,000 | $105,000 | All non‑employee directors |
| Annual base retainer (stock) | $125,000 | $145,000 | Granted Jan 1, vests immediately unless otherwise determined |
| Board Chair fee | $125,000 | $130,000 | Paid to Chair (Best) |
| Committee membership fee (per committee) | $10,000 | $10,000 | Not applicable to Best (no committees) |
| Meeting fees | None expected for regular meetings | None expected | |
| Best’s 2024 cash fees (actual) | $243,000 | — | Includes base cash and Chair fee; ad hoc committee pay if any is included in cash column |
| Best’s 2024 stock award (fair value) | $125,796 | — | Equity grant under Director Plan |
| Best’s 2024 total director compensation | $368,796 | — |
Performance Compensation
| Element | Grant Date | Units/Value | Vesting | Performance Metrics |
|---|---|---|---|---|
| Annual stock grant (Director Plan) | Jan 1, 2024 | $125,796 fair value | Fully vested on grant unless otherwise determined | None (not performance‑conditioned) |
Other Directorships & Interlocks
| Company | Type | Current/Prior | Potential Interlock with TPL |
|---|---|---|---|
| Arcosa Inc. (ACA) | Public company | Current | No TPL‑disclosed related party transactions with Arcosa |
| Cabot Oil & Gas (now Coterra) | Public company | Prior | No TPL‑disclosed related party transactions |
| MRC Global; Crosstex; CMC; Trinity; Austin Industries | Public/private | Prior | No TPL‑disclosed related party transactions |
Related party transaction noted with another director (Robert Roosa) regarding Culberson County mineral interests; approved by Audit Committee and Board with Roosa abstaining; no fees to Roosa or Brigham; no other related person transactions disclosed since start of 2024 fiscal year .
Expertise & Qualifications
- Recognized governance leader (NACD Director of the Year 2014) .
- Extensive energy, industrial, and infrastructure board leadership; multiple chair roles; financial oversight and risk management competencies per board skills matrix .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership (shares) | 915 shares (less than 1% of class) |
| Shares outstanding (reference) | 22,979,410 as of Sept 11, 2025 |
| Director stock ownership guidelines | 5x base cash retainer to be acquired within 5 years; unvested time‑based restricted shares count; directors may sell to cover taxes on vesting |
| Hedging/short sales | Prohibited for directors under Insider Trading Policy |
| Pledging/margin | Requires pre‑approval by General Counsel |
| Clawback policy | Applies to incentive compensation upon restatement per Section 10D |
| Officers & directors ownership (group) | 6.9% of outstanding shares (12 persons) |
Governance Assessment
- Board effectiveness: Independent non‑executive Chair with robust governance responsibilities; majority‑vote resignation policy and declassification completed; regular executive sessions and strong attendance support effective oversight .
- Alignment and compensation: Director pay mix includes immediate‑vesting equity plus cash; 2025 increases lift equity retainer from $125k to $145k, marginally increasing equity alignment; Best’s 2024 director comp totaled $368,796 (cash $243k; stock $125,796) .
- Independence and conflicts: No related‑party transactions disclosed involving Best; related transaction with another director underwent Audit Committee review and full Board approval with the interested director abstaining, indicating functioning conflicts oversight .
- Shareholder signals: 2024 Say‑on‑Pay passed with ~88% approval; Company expanded proxy access and formalized special‑meeting rights at 25%; active investor outreach underscores responsiveness .
RED FLAGS
- None disclosed specific to Rhys J. Best (no legal proceedings; no related‑party transactions; subject to anti‑hedging/pledging controls) .