Icahn Enterprises L.P. Files 8-K on Leadership Changes
Ticker: IEP · Form: 8-K · Filed: Sep 27, 2024 · CIK: 813762
| Field | Detail |
|---|---|
| Company | Icahn Enterprises L.P. (IEP) |
| Form Type | 8-K |
| Filed Date | Sep 27, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $2,200,000, $295,082, $17,075,616 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-compensation, board-of-directors
TL;DR
IEP board shakeup and comp changes filed. Watch this space.
AI Summary
On September 26, 2024, Icahn Enterprises L.P. filed an 8-K report detailing changes in its board of directors and executive compensation arrangements. The filing indicates a shift in leadership and potential adjustments to how key personnel are compensated.
Why It Matters
Changes in a company's board and executive compensation can signal strategic shifts or impact investor confidence.
Risk Assessment
Risk Level: medium — Changes in directorship and executive compensation can introduce uncertainty regarding future strategy and financial performance.
Key Players & Entities
- ICAHN ENTERPRISES L.P. (company) — Registrant
- September 26, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to the board of directors?
The filing indicates 'Departure of Directors or Certain Officers; Election of Directors' as an item information, suggesting changes to the board composition.
What are the details of the new compensatory arrangements?
The filing lists 'Compensatory Arrangements of Certain Officers' as an item information, implying new or revised compensation plans for executives.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on September 26, 2024.
What is the principal executive office address for Icahn Enterprises L.P.?
The principal executive offices are located at 16690 Collins Ave, PH-1, Sunny Isles Beach, FL 33160.
What is the SIC code for Icahn Enterprises L.P.?
The Standard Industrial Classification (SIC) code is 3714, which corresponds to MOTOR VEHICLE PARTS & ACCESSORIES.
Filing Stats: 1,310 words · 5 min read · ~4 pages · Grade level 12.2 · Accepted 2024-09-27 16:27:53
Key Financial Figures
- $2,200,000 — yments equal to an annualized amount of $2,200,000, payable in accordance with the Company
- $295,082 — pay Mr. Papapostolou an amount equal to $295,082, representing a prorated portion of Mr.
- $17,075,616 — mount of the NAV Incentive is capped at $17,075,616, and will be reduced by the value of th
Filing Documents
- tm2425070d1_8k.htm (8-K) — 31KB
- tm2425070d1_ex10-1.htm (EX-10.1) — 82KB
- tm2425070d1_ex10-1img001.jpg (GRAPHIC) — 2KB
- 0001104659-24-103732.txt ( ) — 310KB
- iep-20240926.xsd (EX-101.SCH) — 3KB
- iep-20240926_lab.xml (EX-101.LAB) — 33KB
- iep-20240926_pre.xml (EX-101.PRE) — 22KB
- tm2425070d1_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 26, 2024 (the "Effective Date"), Icahn Enterprises L.P., a Delaware limited partnership (the "Company"), entered into an employment letter agreement with Ted Papapostolou, the Company's Chief Financial Officer (the "Employment Letter"). The Employment Letter supersedes and replaces in its entirety that certain offer letter agreement by and between the Company and Mr. Papapostolou dated December 9, 2021. Pursuant to the Employment Letter, Mr. Papapostolou will continue to serve as Chief Financial Officer of the Company and certain of its subsidiaries, for a term through June 30, 2028, unless earlier terminated in accordance with the terms of the Employment Letter (the "Term"). If Mr. Papapostolou's employment with the Company continues past the Term, his compensation will be determined by the Company's general partner's board of directors. During the Term, Mr. Papapostolou will be entitled to participate in all benefit programs and plans generally made available to other executives of the Company. As of the Effective Date, and continuing during the Term, Mr. Papapostolou will be eligible to receive payments equal to an annualized amount of $2,200,000, payable in accordance with the Company's general payroll practices, that are in the form of a salary "draw" against the NAV Incentive (as defined and described below). In addition, the Company will pay Mr. Papapostolou an amount equal to $295,082, representing a prorated portion of Mr. Papapostolou's annual discretionary bonus as in effect immediately prior to the Effective Date. Following the Effective Date, rather than Mr. Papapostolou's incentive compensation being determined through a discretionary program, Mr. Papapostolou will be eligible for the NAV Incentive. With respect to the "Deferred Units" previously granted to Mr. Papapostolou pursuant
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ICAHN ENTERPRISES L.P. (Registrant) By: Icahn Enterprises G.P. Inc. its general partner By: /s/ Andrew Teno Date: September 27, 2024 Andrew Teno President and Chief Executive Officer