Business Context and Reporting Period
This Form 8-K Current Report was filed by Energy Transfer LP on January 3, 2020, covering events occurring on January 1, 2020. The filing pertains to corporate governance changes within the Partnership's general partner, LE GP, LLC.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to a specific corporate event and does not contain financial performance data.
Material Changes
The primary material change reported is the appointment of James R. (Rick) Perry as a director of LE GP, LLC, the general partner of Energy Transfer LP. This appointment was made by the members of LE GP pursuant to the Second Amended and Restated Limited Liability Company Agreement.
Guidance, Outlook, and Management Commentary
- Committee Assignments: Mr. Perry is not currently expected to be named to any committees of the board of directors of LE GP.
- Compensation: Consistent with other non-employee board members, Mr. Perry will receive cash compensation and equity compensation under the Partnership's existing plans detailed in the 2018 Form 10-K.
- Related Party Transactions: The Partnership is not aware of any transactions since the beginning of the last fiscal year, or any proposed transactions, exceeding $120,000 in which Mr. Perry has a direct or indirect material interest.
- Arrangements: There are no arrangements or understandings with the Partnership or other persons pursuant to which Mr. Perry was appointed.
Investor Verification Checklist
- Verify the specific terms of the equity compensation plans referenced in the 2018 Form 10-K applicable to new directors.
- Confirm the absence of undisclosed related party transactions involving the new director exceeding the $120,000 threshold.
- Monitor future filings for any committee assignments or changes in board composition for Mr. Perry.