Suncoke Energy, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Suncoke Energy, Inc. on March 7, 2022. The filing reports the appointment of a new Senior Vice President and Chief Financial Officer effective on the date of the report.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change reported is the appointment of Mr. Mark W. Marinko as Senior Vice President and Chief Financial Officer, effective March 7, 2022.
Management Commentary and Compensation Details
The Board of Directors approved the following material terms of compensation for Mr. Marinko:
- Base Salary: $470,000 per year.
- Annual Incentive: Target cash bonus of 75% of base salary.
- Long-Term Incentives: Total value of $470,000, comprised of:
- $352,500 in equity awards (two-thirds Restricted Stock Units, one-third Performance Share Units).
- $117,500 under the Long-Term Cash Incentive Plan.
- Other Benefits: Eligibility for executive severance plans and comprehensive benefit plans, including 401(k).
Mr. Marinko has no family relationship with directors or officers and no material interest in transactions requiring disclosure under Item 404(a) or Item 5.02(d).
Investor Verification Checklist
- Verify the press release (Exhibit 99.1) for full biographical details of Mr. Mark W. Marinko.
- Confirm the specific vesting schedules and performance metrics for the Restricted Stock Units and Performance Share Units.
- Review the terms of the executive severance plans referenced in the compensation package.