Rene R. Joyce served as the Chief Executive Officer of Targa Resources from 2005 until the end of 2011, marking a significant era for the company. During his tenure, he received substantial compensation, including a total of nearly $1.62 million...

Rene R. Joyce served as the Chief Executive Officer of Targa Resources from 2005 until the end of 2011, marking a significant era for the company. During his tenure, he received substantial compensation, including a total of nearly $1.62 million in 2011, with the bulk of that coming from a $1.09 million bonus reflecting outstanding company performance that year. Joyce stepped down from his CEO role to become Executive Chairman but continued to influence the company's direction. Intriguingly, his insider trading activity shows considerable fluctuations, peaking at about $126 million in August 2024. Prior notification of his resignation was given in 2014, and he had maintained a long-term connection to Targa Resources since joining its board in 2005. Under his leadership, the company enhanced its midstream operations, aligning well with growth trends in energy. While Joyce’s background before Targa isn’t detailed in the data, his decisions have evidently impacted investor confidence and Targa’s operational strategies significantly.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Targa Resources CEOs

T

Rene R. Joyce

Ex-CEO of Targa Resources

Sector of Economy

Energy

Born

July 30, 2024 - 0 years ago

CEO of Targa Resources for

6 years 2 months (Oct 2005 - Dec 2011)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Rene R. Joyce

H

Jeffrey A. Miller

CEO of Halliburton

2023 Compensation

Stock

$27.46M

Salary

$1.60M

Bonus

$0.00

Other

$659.12K

Total Holdings

$29.98M

A

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

W

Alan S. Armstrong

CEO of Williams Companies

2023 Compensation

Stock

$27.11M

Salary

$1.39M

Bonus

$0.00

Other

$54.82K

Total Holdings

$152.08M

O

Pierce H. Norton II

CEO of Oneok

2023 Compensation

Stock

$813.39K

Salary

$835.00K

Bonus

$2.10M

Other

$336.99K

Total Holdings

$19.65M

O

Brendan McCracken

CEO of Ovintiv

2023 Compensation

Stock

$3.86M

Salary

$1.10M

Bonus

$2.54M

Other

$407.55K

Total Holdings

$7.62M

Holdings

See how much did Rene R. Joyce make over time.

Rene R. Joyce's investment in Targa Resources has seen its ups and downs. His holdings peaked at around $126 million in August 2024. This significant value reflects both his confidence in the company's future and the market's perception of Targa’s...

Rene R. Joyce's investment in Targa Resources has seen its ups and downs. His holdings peaked at around $126 million in August 2024. This significant value reflects both his confidence in the company's future and the market's perception of Targa’s growth potential. Notably, from September 2019 to 2023, the value of his holdings fluctuated quite a bit, demonstrating the volatility often present in the energy sector. At his peak, he had substantial shares well above the initial reported values, showing a strong belief in the company's direction and operations. However, the gradual increases and slight decreases in value highlight the challenges that even seasoned CEOs can face in a fluctuating market.

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Total Stock Sold

$16.00M

CLB

$4.39M

41,994 CLB shares

TRGP

$11.61M

389,123 TRGP shares

What if they kept their stock?

If Rene R. Joyce didn't sell their stock, today they would have:
Extra CLB41,994 shares worth $432.96K and TRGP389,123 shares worth $2.81M.
This is -79.76% and $12.76M less than what they got when they sold the stock.

Charitable Transactions

TRGP

48,239 shares

TRGP

Recent Charitable Transactions

TRGP

5,000 shares

TRGP

Aug 8, 2024

Charity

TRGP

8,000 shares

TRGP

Nov 10, 2023

Charity

TRGP

4,039 shares

TRGP

Nov 8, 2022

Charity

TRGP

3,500 shares

TRGP

Mar 12, 2015

Charity

TRGP

3,700 shares

TRGP

Apr 11, 2014

Charity

TRGP

20,000 shares

TRGP

Feb 14, 2014

Charity

Insider Trading

See recent insider trades of Rene R. Joyce.

TRGP

5,000 shares

TRGP

Aug 8, 2024

Charity

TRGP

1,947 shares

TRGP

Jan 18, 2024

Received

TRGP

8,000 shares

TRGP

Nov 10, 2023

Charity

TRGP

$377.85K

TRGP at $75.57/share

Feb 27, 2023

Sale

TRGP

2,243 shares

TRGP

Jan 19, 2023

Received

TRGP

4,039 shares

TRGP

Nov 8, 2022

Charity

TRGP

$1.02M

TRGP at $67.86/share

Mar 3, 2022

Sale

TRGP

2,698 shares

TRGP

Jan 20, 2022

Received

TRGP

$1.15M

TRGP at $57.33/share

Nov 9, 2021

Sale

TRGP

$1.52M

TRGP at $36.69/share

May 11, 2021

Sale

Compensation History

See how much did Rene R. Joyce make over time.

Rene R. Joyce's compensation was notable, especially in 2011 when he received almost $1.62 million, comprising a $529,000 salary and a hefty $1.09 million bonus for strong company performance. The bonus was significant, as it was funded at 200% of the target due to the company's success against key business priorities. This reflects not only his leadership but also the effective performance metrics he helped establish. The bonus and the focus on cash compensation over stock options during his tenure suggest a strategy aligned with immediate results, putting pressure on company performance to meet those targets. Joyce did not participate in stock grants during his final years as CEO, instead opting for a compensation structure that prioritized cash-based incentives. This approach is telling of his pragmatic leadership style, emphasizing tangible results.

Year

2011

Total Compensation

$1.65M

Salary

$529.00K

Board Justification

The compensation philosophy aims to provide competitive total compensation to attract and retain key executives, aligning their interests with those of shareholders and ensuring performance-based rewards.

Bonus

$1.09M

Board Justification

The bonus for 2011 was determined based on the company's performance against key business priorities, with the total cash bonus pool funded at 200% of the target level due to outstanding performance.

Other

$23.39K

Board Justification

Other compensation includes contributions to the 401(k) plan and the dollar value of life insurance coverage provided by the Company.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock was vested in 2011 as the focus is on cash compensation and performance metrics for the year.

Performance Metrics

The performance metrics for determining the CEO's compensation in 2011 included financial and operational business priorities set by the Compensation Committee.

Other Targa Resources CEOs

Here are other CEOs of Targa Resources

Joe Bob Perkins

Ex-CEO of Targa Resources

January 2012 - March 2020