USA Compression Partners, LP - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by USA Compression Partners, LP (the "Partnership") on April 30, 2021. The Partnership is a master limited partnership engaged in the natural gas compression business, with its general partner being USA Compression GP, LLC, which is wholly owned by Energy Transfer LP.
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 changes and does not contain financial performance data.
Material Changes
On April 30, 2021, the Board of Directors of the General Partner increased in size with the appointment of W. Brett Smith as a new director. Mr. Smith was also appointed to serve on the Audit and Compensation Committees in addition to the current members.
Management Commentary and Compensation
As an outside director, Mr. Smith will receive compensation pursuant to the General Partner's Amended and Restated Outside Director Compensation Policy. This includes an award of 2,500 phantom units upon his appointment. The filing states there are no arrangements or understandings between Mr. Smith and other persons regarding his service, and no relationships requiring disclosure under Item 404(a) of Regulation S-K.
Key Facts for Investor Verification
- W. Brett Smith was appointed as a director and member of the Audit and Compensation Committees on April 30, 2021.
- Mr. Smith received an initial compensation award of 2,500 phantom units.
- The filing contains no financial results or operational metrics for the period.
- Energy Transfer LP remains the sole member of the General Partner.