Business Context and Reporting Period
This Form 8-K filing by NGL Energy Partners LP (the "Partnership") reports a corporate governance event dated January 21, 2016. The Partnership is a Delaware entity with its principal executive offices in Tulsa, Oklahoma. The filing specifically addresses the appointment of a new principal accounting officer for NGL Energy Holdings LLC, the general partner of the Partnership.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Lawrence Thuillier as the Chief Accounting Officer of NGL Energy Holdings LLC, effective January 21, 2016. Mr. Thuillier brings prior experience from Eagle Rock Energy Partners, L.P., Exterran Holdings, Inc., and Deloitte & Touche LLP.
Guidance, Outlook, and Compensation
There is no guidance, outlook, or management commentary regarding future financial performance in this filing. Regarding compensation, Mr. Thuillier will receive standard compensation and benefits consistent with his position. Additionally, he was granted restricted common units vesting in three tranches of 10,000 units each on July 1, 2016, July 1, 2017, and July 1, 2018. The filing confirms no other material compensatory contracts exist and no family relationships with directors or officers.
Key Facts for Investor Verification
- Lawrence Thuillier was appointed Chief Accounting Officer on January 21, 2016.
- Mr. Thuillier received a grant of 30,000 restricted common units vesting over three years.
- The filing contains no financial results or forward-looking guidance.
- No undisclosed transactions or family relationships involving the new appointee were reported.