David L. Porges is the former CEO and Executive Chairman of EQT Corporation, a leader in natural gas production. He has a strong finance background and has been with EQT since 1998, moving up the ranks rapidly. Notably, he transitioned from CEO to Executive Chairman in 2017, showing his commitment to the company long after stepping down from the top executive role. Porges was pivotal during a significant acquisition and later assisted with shareholder engagement activities. His compensation included substantial bonuses, especially a $2.5 million bonus in 2013 for successfully navigating key business transactions. Interestingly, Porges had an impressive ownership record, at one point holding shares worth over $29 million, significantly surpassing the required equity ownership guidelines. His strategic decisions helped EQT adapt to changing market conditions. Despite stepping down in early 2017, he remains involved as a non-executive Chairman, ensuring a smooth transition for the company. The insider trading data reveals Porges actively engaged with EQT stock, peaking at monthly valued trades over $18 million, signaling confidence in the company's potential and his commitment to shareholder value.

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David L. Porges

Ex-CEO of EQT Corporation

Education

Bachelor's degree in economics from Harvard University and an MBA from Stanford University

Field of Expertise

Other - Economics

Sector of Economy

Energy

Born

June 15, 1957 - 67 years ago

CEO of EQT Corporation for

0 years 4 months (Mar 2018 - Aug 2018)

Previous Experience

Chairman of the Board at EQT

Rivals

Competitors/colleagues of David L. Porges

Paul M. Rady

Founder and CEO of Antero Midstream Corporation

2023 Compensation

Stock

$0.00

Salary

$1.07M

Bonus

$0.00

Other

$14.75K

Total Holdings

$682.48M

Jack A. Fusco

CEO of Cheniere Energy

2023 Compensation

Stock

$0.00

Salary

$1.58M

Bonus

$4.01M

Other

$20.77K

Total Holdings

$167.07M

Nicholas J. DeIuliis

CEO of CNX Resources

2023 Compensation

Stock

$0.00

Salary

$800.00K

Bonus

$960.00K

Other

$45.91K

Total Holdings

$74.84M

Thomas E. Jorden

CEO of Coterra Energy

2023 Compensation

Stock

$18.02M

Salary

$1.13M

Bonus

$2.00M

Other

$351.13K

Total Holdings

$94.55M

Brendan McCracken

CEO of Ovintiv

2023 Compensation

Stock

$3.86M

Salary

$1.10M

Bonus

$2.54M

Other

$407.55K

Total Holdings

$7.62M

John Reinhart

CEO of Gulfport Energy

2023 Compensation

Stock

$2.74M

Salary

$706.13K

Bonus

$1.55M

Other

$25.27K

Total Holdings

$6.03M

Holdings

See how much did David L. Porges make over time.

David L. Porges had a remarkable record of holdings while at EQT Corporation. Over years, his stock ownership saw substantial growth, with peaks reflecting his confidence in the company. At one point, his holdings were valued at over $29 million, far exceeding the ownership guidelines set for executives. His proactive trading was evident as he consistently engaged with the stock, making trades that reached as high as $28 million in a single month. Such activity illustrated Porges' belief in EQT's future, and his financial engagement showcased a deep alignment with the company's success.

Total Stock Sold

$12.66M

EQT

$12.66M

542,748.998 EQT shares

What if they kept their stock?

If David L. Porges didn't sell their stock, today they would have:
Extra EQT542,748.998 shares worth $5.87M.
This is -53.62% and $6.79M less than what they got when they sold the stock.

Charitable Transactions

EQT

365,011.9 shares

EQT

Recent Charitable Transactions

EQT

10,000 shares

EQT

Dec 30, 2016

Charity

EQT

29,700 shares

EQT

Feb 25, 2016

Charity

EQT

56,000 shares

EQT

Feb 19, 2015

Charity

EQT

34,000 shares

EQT

Feb 21, 2014

Charity

EQT

9,000 shares

EQT

Feb 6, 2013

Charity

EQT

50,000 shares

EQT

Dec 31, 2012

Charity

Insider Trading

See recent insider trades of David L. Porges.

NEE

3,240 shares

NEE

Feb 15, 2024

Received

NEE

2,450 shares

NEE

Feb 16, 2023

Received

NEE

$512.86K

NEE at $73.27/share

Feb 9, 2023

Purchase

NEE

2,460 shares

NEE

Feb 17, 2022

Received

NEE

2,150 shares

NEE

Feb 11, 2021

Received

NEE

$880.00K

NEE at $220.00/share

Mar 13, 2020

Purchase

NEE

$826.50K

NEE at $275.50/share

Feb 19, 2020

Purchase

EQT

98,676 shares

EQT

Feb 22, 2018

Received

EQT

$3.18M

EQT at $59.14/share

Nov 16, 2017

Sale

EQT

55,396 shares

EQT

Feb 16, 2017

Received

Compensation History

See how much did David L. Porges make over time.

During his time at EQT Corporation, David L. Porges received substantial compensation. In 2017, his total compensation was about $1.75 million, including an $850,000 salary and a notable bonus of $500,000 for his leadership during the Rice acquisition. His structure typically leaned heavily on performance, with bonuses tied to the company's success. For instance, in 2015, he was awarded a $1 million bonus for his efforts in securing an IPO for EQGP, reflecting the performance-driven culture at EQT. Although stock options and additional grants were limited during his tenure, his financial decisions and leadership were closely monitored under a robust compensation philosophy that focused on aligning executive performance with shareholder interests.

Year

2017

Total Compensation

$1.75M

Salary

$850.00K

Board Justification

The compensation philosophy is designed to attract and retain high-quality executives, aligning their interests with those of shareholders by linking pay to performance and ensuring competitive compensation packages.

Bonus

$500.00K

Board Justification

The bonus was awarded in recognition of Mr. Porges' leadership and assistance in shareholder engagement activity resulting from the Rice acquisition.

Other

$402.35K

Board Justification

This includes life insurance premiums, 401(k) contributions, and other perquisites.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock was vested in 2017 as Mr. Porges did not receive new stock grants during his tenure as Executive Chairman.

Performance Metrics

The performance metrics for 2017 included adjusted EBITDA compared to the business plan.

Other EQT Corporation CEOs

Here are other CEOs of EQT Corporation

Steven T. Schlotterbeck

Ex-CEO of EQT Corporation

March 2017 - March 2018

Robert J. McNally

CEO of EQT Corporation

August 2018 - Present