CNX Resources Corp Files Definitive Proxy Statement (DEF 14A)

Ticker: CNX · Form: DEF 14A · Filed: Mar 21, 2024 · CIK: 1070412

Cnx Resources Corp DEF 14A Filing Summary
FieldDetail
CompanyCnx Resources Corp (CNX)
Form TypeDEF 14A
Filed DateMar 21, 2024
Risk Level
Pages15
Reading Time18 min
Key Dollar Amounts$815 million, $305 million, $3.8 billion, $1.9 billion, $1.2 billion
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, CNX Resources, Executive Compensation, Corporate Governance

TL;DR

<b>CNX Resources Corp has filed its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 31, 2023.</b>

AI Summary

CNX Resources Corp (CNX) filed a Proxy Statement (DEF 14A) with the SEC on March 21, 2024. CNX Resources Corp filed a Definitive Proxy Statement (DEF 14A) on March 21, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at CNX Center, 1000 Consol Energy Drive, Canonsburg, PA 15317. CNX Resources Corp was formerly known as CONSOL Energy Inc. The filing includes data related to pension benefits and equity awards for the years 2020-2023.

Why It Matters

For investors and stakeholders tracking CNX Resources Corp, this filing contains several important signals. This DEF 14A filing is crucial for shareholders as it details executive compensation, board nominations, and other corporate governance matters, allowing them to make informed voting decisions. The inclusion of historical data on pension benefits and equity awards provides context for executive compensation trends and potential future payouts.

Risk Assessment

Risk Level: — CNX Resources Corp shows moderate risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures without immediate significant financial or operational news.

Analyst Insight

Shareholders should review the executive compensation and governance proposals detailed in this filing to prepare for the upcoming shareholder meeting.

Key Numbers

  • 2024-03-21 — Filing Date (DEF 14A filing date)
  • 2023-12-31 — Fiscal Year End (Reporting period)
  • 2020-2023 — Data Range (Years for which pension and equity award data is provided)

Key Players & Entities

  • CNX Resources Corp (company) — Filer
  • CONSOL Energy Inc (company) — Former company name
  • Canonsburg, PA (location) — Business address

FAQ

When did CNX Resources Corp file this DEF 14A?

CNX Resources Corp filed this Proxy Statement (DEF 14A) with the SEC on March 21, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by CNX Resources Corp (CNX).

Where can I read the original DEF 14A filing from CNX Resources Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CNX Resources Corp.

What are the key takeaways from CNX Resources Corp's DEF 14A?

CNX Resources Corp filed this DEF 14A on March 21, 2024. Key takeaways: CNX Resources Corp filed a Definitive Proxy Statement (DEF 14A) on March 21, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at CNX Center, 1000 Consol Energy Drive, Canonsburg, PA 15317..

Is CNX Resources Corp a risky investment based on this filing?

Based on this DEF 14A, CNX Resources Corp presents a moderate-risk profile. The filing is a routine DEF 14A, providing standard disclosures without immediate significant financial or operational news.

What should investors do after reading CNX Resources Corp's DEF 14A?

Shareholders should review the executive compensation and governance proposals detailed in this filing to prepare for the upcoming shareholder meeting. The overall sentiment from this filing is neutral.

How does CNX Resources Corp compare to its industry peers?

CNX Resources Corp operates in the crude petroleum and natural gas industry.

Are there regulatory concerns for CNX Resources Corp?

The filing is a DEF 14A, a standard disclosure document required under the Securities Exchange Act of 1934 for companies soliciting proxies from shareholders.

Industry Context

CNX Resources Corp operates in the crude petroleum and natural gas industry.

Regulatory Implications

The filing is a DEF 14A, a standard disclosure document required under the Securities Exchange Act of 1934 for companies soliciting proxies from shareholders.

What Investors Should Do

  1. Review the detailed executive compensation tables and narratives.
  2. Analyze the proposals being put forth for shareholder vote.
  3. Compare executive compensation and equity awards to industry benchmarks if available.

Key Dates

  • 2024-03-21: Filing of DEF 14A — Official submission of the proxy statement to the SEC.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a routine disclosure. No direct comparison to a prior filing's financial performance is available within this document.

Filing Stats: 4,433 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-03-21 16:16:18

Key Financial Figures

  • $815 million — 23, the company generated approximately $815 million of net cash provided by operating activ
  • $305 million — free cash flow ("FCF") of approximately $305 million. (1) Through the fourth quarter of 2023
  • $3.8 billion — For 2020-2023, the company generated $3.8 billion of net cash provided by operating activ
  • $1.9 billion — operating activities, which resulted in $1.9 billion of FCF. Across that same time period, t
  • $1.2 billion — period, the company used FCF to return $1.2 billion in capital to shareholders and another
  • $650 million — in capital to shareholders and another $650 million to further strengthen the balance sheet
  • $320 million — any repurchased 17.7 million shares for $320 million at an average price of $18.10 per share
  • $18.10 — for $320 million at an average price of $18.10 per share. The company has retired 33 p
  • $1.8 billion — ed approximately 119 million shares for $1.8 billion at an average price of $14.95 per share
  • $14.95 — for $1.8 billion at an average price of $14.95 per share. We believe these shares were
  • $2.2 billion — urth quarter of 2023 with approximately $2.2 billion in net debt. Our weighted average senio
  • $331 million — ding adjusted net debt by approximately $331 million and we continue to evaluate the timing
  • $34 million — 3, the New Technologies group generated $34 million in FCF primarily through the monetizati
  • $75 million — in. We expect to generate approximately $75 million (1) in FCF from environmental attribute

Filing Documents

Executive Compensation Information

Executive Compensation Information 37 Compensation Discussion and Analysis 37 Compensation Committee Report 51 Compensation Policies and Practices as They Relate to CNX's Risk Management 51 Summary Compensation Table — 2023, 2022, and 2021 52 Grants of Plan-Based Awards — 2023 54 Outstanding Equity Awards at Fiscal Year-End — 2023 56 Option Exercises and Stock Vested Table — 2023 59 Pension Benefits Table — 2023 59 Understanding Our Pension Benefits Table 60 Potential Payments Upon Termination or Change in Control Tables 61 Understanding Our Change in Control and Employment Termination Tables and Information 65 2023 Pay Ratio Information 71 Pay Versus Performance 72 Pay Versus Performance Table — 2023, 2022, 2021 and 2020 72 Pay Versus Performance Relationship Descriptions 75 List of Performance Measurements for Compensation Actually Paid 78 Proposal No. 3: Advisory Approval of CNX's 2023 Named Executive Officer Compensation 79 Securities Authorized for Issuance under the CNX Equity and Incentive Compensation Plan 80 Back to Contents Information about the Annual Meeting 81 Virtual Format 81 Voting and Proposals 82 Record Date and Vote Required for Approval 83 Revocation of Proxy 84 Proxy Solicitation 84 Additional Matters 85 Shareholder Proposals for Inclusion in Next Year's Proxy Statement or Presentation at Next Year's Annual Meeting 85 Additional Requirements for Shareholder Nominations of Directors 85 Householding of Proxy Materials 86 Other 86 Appendix A Reconciliation of Non-GAAP Measures* 87 Free Cash Flow 87 Net Debt 87 Adjusted FCF per Share for STIC and Pay Versus Performance 88 Back to Contents Forward–Looking Statements This Proxy Statement contains forward-looking statements, estimates and projections within the meaning of the federal securities laws. Statements that are not historical are forward-looking statements that involve risks and uncertai

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