Mark L. Plaumann
MAMMOTH ENERGY SERVICESAbout Mark L. Plaumann
Independent director appointed June 11, 2025; serves as Audit Committee Chair and member of Compensation and Nominating & Corporate Governance Committees, with the Board determining he is independent under Nasdaq and SEC rules . Managing Member and co‑founder of Greyhawke Capital Advisors LLC (since 1998); previously Senior Vice President at Wexford Capital LP, Managing Director at Alvarez & Marsal, President of American Healthcare Management, and Senior Manager at Ernst & Young . Holds MBA and BA in Business Administration from University of Central Florida; sits on its Foundation Board and College of Business Dean’s Advisory Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Greyhawke Capital Advisors LLC | Managing Member & Co‑Founder | 1998–present | Investment and governance leadership |
| Wexford Capital LP | Senior Vice President | Pre‑1998 (prior to Greyhawke) | Private equity and investment oversight |
| Alvarez & Marsal, Inc. | Managing Director | Historical | Restructuring and operational turnarounds |
| American Healthcare Management, Inc. | President | Historical | Executive leadership |
| Ernst & Young LLP | Senior Manager | Historical | Audit/assurance technical experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Diamondback Energy, Inc. | Director | Current | Audit Committee member |
| Republic Airways Holdings, Inc. | Director | 2002–2017 | Audit and Compensation Committees |
| ICx Technologies, Inc. | Director | 2006–2010 | Audit Committee Chair |
| Rhino Resource Partners LP (GP) | Director | 2010–2016 | Audit Committee Chair; Conflicts Committee member |
Board Governance
- Committee assignments: Audit Chair; member of Compensation and Nominating & Corporate Governance; Board affirmed independence under Nasdaq/SEC rules .
- Board/committee structure and fees (non‑employee directors): $60,000 annual retainer; Audit Chair $20,000 and members $15,000; Compensation and Nominating Chairs $15,000 and members $10,000; annual equity grant of $100,000 vesting at next annual meeting or first anniversary .
- Attendance and engagement: In 2024, Board held 1 in‑person and 8 virtual meetings; each director attended all Board and committee meetings; non‑management directors met in 5 executive sessions .
| Committees (2024) | Members | Functions | Meetings (2024) |
|---|---|---|---|
| Audit | Arthur Smith (Chair), James Palm, Corey Booker | Financial reporting, internal controls, compliance, auditor oversight, related party review | Four |
| Compensation | Paul Jacobi (Chair), James Palm, Arthur Smith | Executive/Director pay oversight, equity plans, clawback administration | Two |
| Nominating & Corporate Governance | James Palm (Chair), Arthur Smith, Paul Jacobi | Board composition, evaluations, governance policies | One |
Fixed Compensation
| Component | Amount/Terms | Vesting/Timing |
|---|---|---|
| Annual cash retainer | $60,000 | Paid quarterly |
| Audit Committee | Chair $20,000; Member $15,000 | Paid quarterly |
| Compensation Committee | Chair $15,000; Member $10,000 | Paid quarterly |
| Nominating & Corporate Governance Committee | Chair $15,000; Member $10,000 | Paid quarterly |
| Equity grant (RSUs) | $100,000 grant value each annual meeting | Vest on earlier of first anniversary or next annual meeting |
| 2024 actual director pay | See table below | 2024 RSUs unvested 27,856 per director, vest 6/11/2025 |
| Director (2024) | Board & Committee Fees ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Arthur Amron | 60,000 | 100,000 | 160,000 |
| Corey Booker | 75,000 | 100,000 | 175,000 |
| Paul Jacobi | 85,000 | 100,000 | 185,000 |
| James Palm | 95,000 | 100,000 | 195,000 |
| Arthur Smith | 100,000 | 100,000 | 200,000 |
Note: Plaumann is entitled to standard non‑employee director compensation on a prorated basis from his appointment date .
Performance Compensation
| Element | Metrics | Vesting/Notes |
|---|---|---|
| Director RSUs | None (time‑based only) | Vest at next annual meeting or first anniversary; no dividends/dividend equivalents on unvested awards under 2024 Plan |
| Clawback policy | Applies to incentive‑based compensation pursuant to Nasdaq Rule 10D‑1; directors subject to plan terms on awards | Company adopted a Dodd‑Frank compliant clawback effective Dec 1, 2023 |
Other Directorships & Interlocks
- External public board: Diamondback Energy (audit committee), creates industry knowledge and potential information flow across energy services/E&P ecosystems .
- Prior role at Wexford Capital LP (Senior Vice President) is notable given Wexford is Mammoth’s largest shareholder (45.9%) and has had related‑party dealings with the Company; Board nonetheless determined Plaumann’s independence .
Expertise & Qualifications
- Audit leadership: Prior audit committee chair roles (ICx; Rhino GP) and Big Four experience (EY) suit Audit Chair responsibilities at TUSK .
- Restructuring/operations: Alvarez & Marsal MD and president-level operating experience; relevant for risk oversight and complex transactions .
- Capital markets/PE: Greyhawke and Wexford background provide financing acumen—useful given prior PREPA settlement and divestitures .
Equity Ownership
| Major Stockholders (as of Apr 1, 2025) | Shares | % of Class |
|---|---|---|
| Wexford Capital LP (and affiliates) | 22,068,213 | 45.9% |
| Adage Capital Partners GP, L.L.C. | 4,100,000 | 8.5% |
| ValueWorks LLC (and affiliates) | 3,136,371 | 6.5% |
| Officers & Directors (as of Apr 1, 2025) | Shares | % of Class |
|---|---|---|
| Arthur Amron | 19,279 (excludes RSUs) | — |
| Corey Booker | 97,632 (excludes RSUs) | <1% |
| Paul Jacobi | — (comp previously assigned to Wexford) | — |
| James Palm | 212,288 (excludes RSUs) | <1% |
| Arthur Smith | 187,178 (excludes RSUs) | <1% |
| Phil Lancaster | 75,000 (excludes RSUs) | <1% |
| Mark Layton | 418,985 | <1% |
| Group (7 persons) | 1,010,362 | 2.1% |
- Director stock ownership guidelines: Non‑employee directors must own stock equal to 4× annual cash compensation; 5‑year transition period to achieve compliance .
- Insider trades: No Form 4 transactions found for “Plaumann” at TUSK between Jan 1, 2025 and Nov 20, 2025 (suggests no initial open‑market purchases or grants reported beyond standard RSU program timing) [No insider trades found between 2025-01-01 and 2025-11-20].
Governance Assessment
-
Strengths
- Deep audit and restructuring expertise as Audit Chair; expected to strengthen financial reporting oversight in a period of complex settlements (PREPA) and portfolio changes .
- Confirmed independence under Nasdaq/SEC criteria; multi‑industry board experience (E&P; airlines; tech; coal MLP) broadens perspective .
- Standard director pay structure with meaningful equity component and ownership guidelines aligns with shareholders; no dividend equivalents on unvested awards; clawback policy adopted .
-
Risks / RED FLAGS
- Wexford interlock: Former Wexford executive and Wexford is 45.9% holder with multiple related‑party transactions (term credit facility; affiliate leases; JV). As Audit Chair, Plaumann must oversee robust related‑party review to mitigate perceived conflicts .
- Board concentration: Large controlling shareholder may influence governance; independent audit leadership is vital for credibility with minority investors .
- Transition dynamics: Audit Chair change coincides with retirement of prior Audit Chair (Arthur Smith); continuity and handover are key to maintain controls quality .
-
Signals affecting investor confidence
- Independence affirmation and external audit leadership profile are positives .
- Clear committee structures, frequent executive sessions, and full attendance in 2024 reflect board engagement .
- Vigilance needed around related‑party matters and capital allocation post divestiture/settlement .
Notes and Sources
- Appointment, independence, committees, and biography: Mammoth Form 8‑K dated May 30, 2025 .
- Director compensation structure, RSU vesting, ownership guidelines, attendance, executive sessions: 2025 DEF 14A .
- Committee functions and membership (pre‑appointment baseline): 2025 DEF 14A .
- Major holders and related‑party transactions (Wexford): 2025 DEF 14A .
- PREPA settlement and payments: 2025 DEF 14A .
- 2024 director meeting activity: 2025 DEF 14A .
- 2024 director compensation details: 2025 DEF 14A .
- Insider trades retrieval (Plaumann, TUSK): Insider‑Trades skill run output (no records found).