Kinetik Holdings Inc. Announces Board and Executive Changes
Ticker: KNTK · Form: 8-K · Filed: Mar 5, 2024 · CIK: 1692787
Sentiment: neutral
Topics: management-change, board-of-directors, executive-appointment
TL;DR
Kinetik's board and exec team shake-up: McGovern out, Johnson in, new CLO & CCO appointed.
AI Summary
Kinetik Holdings Inc. announced on February 28, 2024, the departure of director Michael P. McGovern and the election of new director David M. Johnson. The company also appointed new officers, including Carlos A. R. de la Garza as Chief Legal Officer and Corporate Secretary, and Luis A. M. de la Garza as Chief Commercial Officer. These changes are effective immediately.
Why It Matters
Changes in board composition and executive leadership can signal shifts in company strategy or operational focus, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- Kinetik Holdings Inc. (company) — Registrant
- Michael P. McGovern (person) — Departing Director
- David M. Johnson (person) — Newly Elected Director
- Carlos A. R. de la Garza (person) — Appointed Chief Legal Officer and Corporate Secretary
- Luis A. M. de la Garza (person) — Appointed Chief Commercial Officer
- February 28, 2024 (date) — Effective date of changes
FAQ
Who has departed from Kinetik Holdings Inc.'s board of directors?
Michael P. McGovern has departed from the board of directors.
Who has been elected as a new director to Kinetik Holdings Inc.'s board?
David M. Johnson has been elected as a new director.
What new executive positions have been filled at Kinetik Holdings Inc.?
Carlos A. R. de la Garza has been appointed Chief Legal Officer and Corporate Secretary, and Luis A. M. de la Garza has been appointed Chief Commercial Officer.
When are these changes effective?
The changes are effective as of February 28, 2024.
What was Kinetik Holdings Inc.'s former name?
Kinetik Holdings Inc. was formerly known as Altus Midstream Co and Kayne Anderson Acquisition Corp.
Filing Stats: 804 words · 3 min read · ~3 pages · Grade level 13 · Accepted 2024-03-05 16:46:04
Key Financial Figures
- $0.0001 — stered Class A Common Stock, par value $0.0001 per share KNTK New York Stock Excha
Filing Documents
- d793262d8k.htm (8-K) — 28KB
- d793262dex101.htm (EX-10.1) — 98KB
- d793262dex102.htm (EX-10.2) — 8KB
- 0001193125-24-059359.txt ( ) — 287KB
- kntk-20240228.xsd (EX-101.SCH) — 3KB
- kntk-20240228_lab.xml (EX-101.LAB) — 18KB
- kntk-20240228_pre.xml (EX-101.PRE) — 11KB
- d793262d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Kinetik Holdings Inc. Executive Severance Plan. 10.2 Form of Participation Agreement pursuant to the Kinetik Holdings Inc. Executive Severance Plan. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KINETIK HOLDINGS INC. By: /s/ Todd Carpenter Name: Todd Carpenter Title: General Counsel, Assistant Secretary, and Chief Compliance Officer Date:March 5, 2024