In a large saucepan cook and stir the pecans over medium heat for 5 minutes or until toasted. Remove from pan. Cool slightly and coarsely chop; set aside. In the same pan heat 1 tablespoon of the oil. Add mushrooms; cook until mushrooms are tender. Meanwhile, in a medium saucepan bring chicken broth to boiling; reduce heat and simmer. Remove mushrooms from pan; set aside. Wipe pan clean.
In the large saucepan heat remaining oil over medium heat; add rice, shallot, and garlic. Cook just until rice is lightly golden, about 5 minutes. Slowly add 1 cup of the broth to the rice mixture, stirring constantly. Continue to cook and stir over medium heat until liquid is absorbed. Add another 1/2 cup of the broth to the rice mixture, stirring constantly. Continue to cook and stir until liquid is absorbed. Add remaining broth, 1/2 cup at a time, stirring constantly until broth has been absorbed and rice is slightly creamy and tender. (This should take about 15 minutes.)
Stir in spinach, cheese, pepper, mushrooms, and pecans until combined. Serve immediately. Makes 4 main-dish or 6 to 8 side-dish servings.