Business Context and Reporting Period
This Form 8-K filing by NextDecade Corp (NEXT) was dated February 22, 2022, reporting events occurring on February 15 and February 19, 2022. The filing addresses corporate governance changes under Item 5.02 regarding the departure of a director and the appointment of a successor.
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 changes and does not contain financial performance data.
Material Changes
- Director Departure: Taewon Jun resigned from the Board of Directors effective February 19, 2022. The resignation was due to his acceptance of a new position within the parent company of HGC NEXT INV LLC ("HGC") and was not caused by any disagreement with the Company.
- Director Appointment: On February 19, 2022, the Board appointed Seokwon Ha as a Class B director to fill the vacancy created by Mr. Jun's resignation. Mr. Ha was nominated by HGC.
- Term Details: Mr. Ha will serve until the Company's 2022 annual meeting of stockholders, at which point he will be on the slate of directors for a vote by stockholders.
Guidance, Outlook, and Management Commentary
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. It notes that Mr. Ha, President of Hanwha Impact Partners, brings expertise in cross-border M&A and investment portfolio management in sectors including clean energy, data science, and life science. Mr. Ha is entitled to reimbursement of reasonable out-of-pocket expenses for Board meetings and has no material interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of Taewon Jun's resignation (February 19, 2022).
- Confirm Seokwon Ha's appointment as a Class B director and his nomination by HGC.
- Review the Company's 2022 Annual Meeting proxy statement for the upcoming vote on Mr. Ha's directorship.
- Check for any subsequent filings regarding the relationship between NextDecade Corp and HGC NEXT INV LLC.