USA Compression Partners, LP - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by USA Compression Partners, LP on September 20, 2016. The report addresses corporate governance changes involving the departure of a senior financial officer and the appointment of a successor.
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 personnel changes and does not contain financial performance data.
Material Changes
- Resignation: Michael D. Lenox, Vice President-Finance and Chief Accounting Officer of the General Partner, notified the company of his intent to resign effective October 11, 2016, to pursue another business opportunity.
- Appointment: On September 23, 2016, the Board of Directors designated Matthew C. Liuzzi to serve as the principal accounting officer upon Mr. Lenox's resignation.
- Successor Profile: Mr. Liuzzi currently serves as Vice President, Chief Financial Officer, and Treasurer. He has held these roles since January 2015 and previously served as Senior Vice President - Strategic Development since April 2013. He holds a B.A. and M.B.A. from the University of Virginia and has nine years of prior investment banking experience, most recently at Barclays.
Guidance, Outlook, and Risks
The filing does not provide guidance, outlook, or management commentary regarding future financial performance. There are no changes to Mr. Liuzzi's compensation in connection with his new designation. The filing notes no material relationships between Mr. Liuzzi and other directors or executive officers.
Key Facts for Investor Verification
- Verify the effective date of Michael D. Lenox's resignation (October 11, 2016).
- Confirm Matthew C. Liuzzi's new role as principal accounting officer.
- Note that no compensation changes were made to Mr. Liuzzi for this appointment.
- Review subsequent filings for any financial impact related to this leadership transition.