Heat a medium saucepan over medium-high heat. Coat pan with cooking spray. Add shallots to pan; sauté for 1 minute or until tender. Add carrot; sauté 1 minute. Stir in rice; sauté 2 minutes. Add 1 1/2 cups hot water, thyme, and salt; bring to a boil. Cover, reduce heat, and simmer for 23 minutes or until rice is tender and liquid is absorbed. Remove from heat; stir in peas and Shrimp Butter. Let stand for 5 minutes or until peas are thoroughly heated and Shrimp Butter melts.