Business Context and Reporting Period
This Form 8-K Current Report was filed by Energy Transfer LP on April 22, 2019, covering events that occurred on April 16, 2019. The filing pertains to corporate governance changes within LE GP, LLC, the general partner of the Partnership.
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 appointments and does not contain financial performance data.
Material Changes
The material change reported is the appointment of two new directors to the Board of Directors of LE GP, LLC:
- Thomas E. Long: Appointed as a director. He currently serves as the Chief Financial Officer of LE GP and will not receive additional compensation for his director services.
- Ray W. Washburne: Appointed as a director. He will receive compensation consistent with other non-employee directors as previously disclosed in the 2018 Form 10-K.
The filing states there are no arrangements or understandings with the Partnership or other persons regarding these appointments.
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
- Verify the compensation structure for Ray W. Washburne by reviewing the Partnership's Annual Report on Form 10-K for the year ended December 31, 2018.
- Confirm that Thomas E. Long's existing compensation as CFO remains unchanged and that no new director fees are being added.
- Review the Second Amended and Restated Limited Liability Company Agreement of LE GP to understand the appointment provisions.