Business Context and Reporting Period
This Form 8-K Current Report was filed by Delek US Holdings, Inc. and Delek Logistics Partners, LP on June 26, 2026. The filing details executive management changes and amendments to employment agreements effective July 1, 2026.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on personnel changes and associated compensation adjustments.
Material Changes
- Executive Appointments: Robert Wright was appointed Chief Financial Officer of Delek US Holdings, Inc., replacing Mark Hobbs. Mark Hobbs was appointed Executive Vice President, Logistics for both the Company and the Partnership.
- Role Expansion: Mohit Bhardwaj was appointed Executive Vice President, New Energy, Strategy & IR, leading the New Energy Business in addition to existing duties.
- Legal Leadership Transition: Misty Lavender was appointed Executive Vice President, General Counsel and Corporate Secretary, succeeding Denise McWatters.
- Compensation Adjustments: Robert Wright's annual base salary increased from $500,000 to $540,000, and his bonus target increased from 75% to 90% of base salary. Long-term incentive grants of $650,000 (March 2027) and $800,000 (March 2028) were added.
- Consulting Arrangement: Denise McWatters transitioned to a consulting role effective July 1, 2026, with a two-year term and annual compensation of $250,000.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of market risks. The primary contingency noted is the transition of legal leadership and the execution of new employment and consulting agreements.
Investor Verification Checklist
- Verify the full text of the consulting agreement with Denise McWatters, which is expected to be filed as an exhibit to the Form 10-Q for the quarter ending June 30, 2026.
- Confirm the vesting schedules for outstanding equity awards held by Denise McWatters under the new consulting arrangement.
- Review the specific terms of the First Amendment to Robert Wright's employment agreement regarding the new long-term incentive grants.
- Monitor the operational impact of the leadership transition in the General Counsel and Corporate Secretary roles.