SEC Filing Summary: Suburban Propane Partners, L.P. (SPH)
Business Context and Reporting Period
This Form 8-K, dated May 18, 2021, reports the results of the Partnership's regular Tri-Annual Meeting of Unitholders. The filing details the election of the Board of Supervisors and the approval of several governance and compensation proposals.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
Unitholders approved the following key items at the meeting:
- Board of Supervisors Election: All eight nominees were re-elected for a three-year term. Voting results included:
- Matthew J. Chanin: 23,046,073 For / 1,775,271 Withheld
- Harold R. Logan, Jr.: 23,208,707 For / 1,612,637 Withheld
- Jane Swift: 23,246,753 For / 1,574,591 Withheld
- Lawrence C. Caldwell: 23,386,968 For / 1,434,376 Withheld
- Terence J. Connors: 23,486,938 For / 1,334,406 Withheld
- William M. Landuyt: 23,481,346 For / 1,339,998 Withheld
- Michael A. Stivala: 23,825,470 For / 995,874 Withheld
- Independent Auditor Ratification: PricewaterhouseCoopers LLP was ratified for the 2021 fiscal year (43,785,286 For / 1,359,496 Against).
- Restricted Unit Plan: The Amended and Restated 2018 Restricted Unit Plan was approved (21,954,231 For / 2,298,434 Against).
- Say-on-Pay: The advisory resolution on executive compensation was approved (22,189,183 For / 2,007,031 Against).
Guidance, Outlook, and Risks
The filing notes that due to the Tri-Annual Meeting structure, no proposal regarding the frequency of Say-on-Pay resolutions was presented. The Partnership will continue to include a Say-on-Pay proposal at each Tri-Annual Meeting as required by applicable law. No specific financial guidance, risks, or contingencies are detailed in this document.
Investor Verification Checklist
- Verify the full composition of the newly elected Board of Supervisors and their tenure terms.
- Review the terms of the approved Amended and Restated 2018 Restricted Unit Plan for potential dilution impacts.
- Confirm the appointment of PricewaterhouseCoopers LLP as the independent auditor for the 2021 fiscal year.
- Check subsequent filings (e.g., 10-Q or 10-K) for the financial performance data not included in this 8-K.