Business Context and Reporting Period
This Form 8-K was filed by Alpha Metallurgical Resources, Inc. on January 25, 2022. The report discloses a change in executive leadership and associated compensatory arrangements.
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 personnel and compensation matters.
Material Changes
On January 25, 2022, the Board of Directors promoted Dan Horn to Executive Vice President and Chief Commercial Officer. In connection with this appointment, the following compensation changes were implemented:
- Base Salary: Increased to $500,000 annually.
- Annual Bonus: Target opportunity increased to 100% of base salary; maximum opportunity increased to 200% of base salary.
- Long-Term Incentive: Target award increased to 200% of base salary.
- Key Employee Separation Plan (KESP): Benefit Factor set at 1.5, or 2.0 in the event of a Covered Change in Control Termination.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items.
Investor Verification Checklist
- Confirm the effective date of Dan Horn's promotion and new title.
- Verify the specific performance criteria attached to the increased bonus and long-term incentive targets.
- Review the full terms of the Key Employee Separation Plan (KESP) regarding the defined Benefit Factors.