Business Context and Reporting Period
This Form 8-K is a current report filed by Alliance Resource Partners, L.P. on July 24, 2024. The filing primarily serves to announce the Partnership's quarterly earnings for the period ended June 30, 2024, and to disclose significant changes in corporate governance and officer appointments.
Key Financial Metrics
The filing references the announcement of quarterly earnings and operating results for the quarter ended June 30, 2024, but does not contain specific numerical data regarding revenue, profit, cash flow, margins, debt, or liquidity within the text of this report. These details are contained in the attached press release (Exhibit 99.1).
Cash Distribution: The Board of Directors approved a cash distribution of $0.70 per unit for the quarter ended June 30, 2024.
- Record Date: August 7, 2024
- Payment Date: August 14, 2024
Material Changes
The filing details significant changes to the Board of Directors and executive management:
- Director Retirement: John H. Robinson notified the General Partner on July 24, 2024, that he will retire from the Board of Directors at the end of the year. This decision is not the result of any disagreement with the Partnership.
- New Director Election: Paul H. Vining was elected to the Board of Directors and will serve as Lead Director. He will not serve on any committees but will assist with planning initiatives.
- Compensation Arrangement Change: Prior to his election, Mr. Vining received $30,000 per month as a consultant. Following his election, he will no longer provide consulting services.
- Committee Leadership Changes:
- Mr. Robinson stepped down as Chairman of the Compensation Committee but remains a member of the Audit, Compensation, and Conflicts Committees until his retirement.
- Nick Carter was appointed Chairman of the Compensation Committee.
- Wilson M. Torrence was appointed as a member of the Conflicts Committee.
- Executive Promotion: Mark A. Watson was promoted to Senior Vice President – Operations and Technology of the General Partner.
Guidance, Outlook, and Risks
The filing text does not provide specific guidance, outlook, or management commentary regarding future financial performance, as these items are referenced in the attached press releases. The filing explicitly states that the information furnished in Items 2.02 and 8.01, including the exhibits, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act and is not subject to the liabilities of that section.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated July 29, 2024) for specific revenue, profit, and operational metrics for the quarter ended June 30, 2024.
- Confirm the record date (August 7, 2024) and payment date (August 14, 2024) for the $0.70 per unit distribution.
- Verify the transition of duties for the Compensation Committee following Mr. Robinson's retirement.
- Monitor future filings for the formal departure of John H. Robinson at the end of the year.