Business Context and Reporting Period
This Form 8-K filing by Suburban Propane Partners, L.P. reports corporate governance changes occurring on January 31, 2007. The report details actions taken by the Board of Supervisors during its regular meeting.
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 governance matters rather than financial performance.
Material Changes
- Board Expansion: The Board of Supervisors increased its size from five (5) to seven (7) members.
- New Appointments: Mr. John D. Collins and Ms. Jane Swift were elected to fill the two new vacancies.
- Effective Date: The new Supervisors' terms are effective with the next regular Board meeting, scheduled for April 25, 2007.
- Term Length: The elected Supervisors serve until the next Tri-Annual Meeting of Unitholders, scheduled for Spring 2009.
Guidance, Outlook, and Compensation
Compensation: Under current policies, Supervisors (excluding the Chairman) receive annual compensation of $75,000 plus reimbursement for reasonable out-of-pocket expenses.
Committee Assignments: Neither Mr. Collins nor Ms. Swift has been assigned to Board committees at this time. Assignments are anticipated at the April 25, 2007 meeting.
Related Party Transactions: The filing states there are no transactions exceeding $120,000 since September 25, 2005, in which the new Supervisors or their immediate family members have a material interest.
Key Facts for Investor Verification
- Verify the professional backgrounds of John D. Collins and Jane Swift as detailed in the attached Press Release (Exhibit 99.1).
- Confirm the date of the next Board meeting (April 25, 2007) for committee assignments.
- Note that this filing contains no financial data or operational guidance.