ONE Gas revealed ina filing with the Securities and Exchange Commission that two new members to the Board of Directors will be paid an annual retainer of $95,000.
It was earlier in July when ONE Gas announced the expansion of its board to nine members with the naming of Sanjay D. Meshri and Yves C. Siegel to the board. All of the other members will remain on the board.
In addition to the $95,000 retainer payment, Meshri and Siegel will receive a stock retainer of shares of common stock with a value of $130,000. They will be non-management directors and will also be entitled to take part in the company’s Deferred Compensation Plan and be reimbursed for expenses related to their attendance at Board and committee meetings.
Meshri, 54, is the former chairman of Advance Research Chemicals, Inc. where he worked for 29 years before his retirement in 2021.
Siegel, 64, is the founder and principal of Siegel Asset Management Partners, a New york-based investment advisory firm. He has more than 40 years experience in managing energy portfolios and launching new investment strategies in energy infrastructure.