Business Context and Reporting Period
This Form 8-K Current Report was filed by Cheniere Energy Partners, L.P. on September 21, 2022. The filing primarily addresses corporate governance changes, specifically the appointment of a new senior executive officer effective January 2, 2023.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel appointments and related disclosures.
Material Changes
The material change reported is the appointment of Corey Grindal as Executive Vice President and Chief Operating Officer of Cheniere Energy Partners GP, LLC (the General Partner). Key details include:
- Effective Date: January 2, 2023.
- Current Role: Executive Vice President, Worldwide Trading of Cheniere GP and Cheniere Energy, Inc.
- Experience: Over 20 years in pipeline construction, operations, project management, and natural gas/power trading. Previously held roles at Deutsche Bank, Louis Dreyfus, and Tenneco/El Paso.
- Education: B.S. in Mechanical Engineering with Honors from the University of Texas at Austin.
Management Commentary, Risks, and Unusual Items
Family Relationship Disclosure: The filing discloses a family relationship between the newly appointed officer and an existing employee:
- Employee: Christian Grindal (son of Corey Grindal), a non-executive employee.
- 2021 Compensation: Approximately $108,000 in cash compensation plus RSU awards with a grant date fair value of $10,899.
- 2022 Expected Compensation: Approximately $130,000–$140,000 in cash compensation plus RSU awards with a grant date fair value of $11,584.
- Process: Compensation was established based on standard practices for comparable roles without the involvement of Corey Grindal. The Partnership reimburses Cheniere for a portion of this compensation based on service allocation agreements.
Regulatory Disclosure: The press release regarding this appointment is furnished under Item 7.01 (Regulation FD) and is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Key Facts for Investor Verification
- Verify the effective start date of Corey Grindal's new role (January 2, 2023) against internal succession planning timelines.
- Confirm the specific allocation of services and reimbursement terms between the Partnership and Cheniere Energy, Inc. regarding Christian Grindal's compensation.
- Review the attached Exhibit 99.1 (Press Release) for additional strategic context regarding the leadership transition.
- Note that this filing contains no financial results; refer to the most recent Form 10-Q or 10-K for financial performance data.