Cheniere Energy Appoints New COO, Details Compensation
Ticker: LNG · Form: 8-K · Filed: Oct 3, 2024 · CIK: 3570
| Field | Detail |
|---|---|
| Company | Cheniere Energy, INC. (LNG) |
| Form Type | 8-K |
| Filed Date | Oct 3, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.003, $24,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, management-change
Related Tickers: CHX
TL;DR
Cheniere names new COO, Weckenbrock gets $550k salary + $3M stock.
AI Summary
Cheniere Energy, Inc. announced on October 2, 2024, the appointment of Michael J. Weckenbrock as Executive Vice President and Chief Operating Officer, effective October 7, 2024. Weckenbrock will receive an annual base salary of $550,000 and will be eligible for a discretionary annual bonus with a target of 100% of his base salary. He will also receive a restricted stock unit award valued at $3,000,000, vesting over three years.
Why It Matters
The appointment of a new COO and the associated compensation package can signal strategic shifts or confidence in operational leadership, impacting investor perception of the company's future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns executive appointments and compensation, which are routine corporate actions with limited immediate financial risk.
Key Numbers
- $550,000 — COO Base Salary (Annual compensation for Michael J. Weckenbrock)
- $3,000,000 — COO Stock Award (Restricted stock unit award value for Michael J. Weckenbrock)
Key Players & Entities
- Cheniere Energy, Inc. (company) — Registrant
- Michael J. Weckenbrock (person) — Appointed Executive Vice President and Chief Operating Officer
- $550,000 (dollar_amount) — Annual base salary for new COO
- 100% (dollar_amount) — Target annual bonus percentage for new COO
- $3,000,000 (dollar_amount) — Value of restricted stock unit award for new COO
- October 2, 2024 (date) — Date of report
- October 7, 2024 (date) — Effective date of new COO appointment
FAQ
What is the effective date of Michael J. Weckenbrock's appointment as COO?
Michael J. Weckenbrock's appointment as Executive Vice President and Chief Operating Officer is effective October 7, 2024.
What is Michael J. Weckenbrock's annual base salary?
Michael J. Weckenbrock's annual base salary is $550,000.
What is the target annual bonus for the new COO?
The target annual bonus for Michael J. Weckenbrock is 100% of his base salary.
What is the value of the restricted stock unit award granted to the new COO?
The restricted stock unit award granted to Michael J. Weckenbrock is valued at $3,000,000.
How long will the restricted stock unit award vest?
The restricted stock unit award valued at $3,000,000 will vest over three years.
Filing Stats: 581 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-10-03 08:00:19
Key Financial Figures
- $0.003 — ange on which registered Common Stock, $0.003 par value LNG NYSE Indicate by check
- $24,000 — r 12 months and an additional amount of $24,000 for the costs associated with benefits.
Filing Documents
- lng-20241002.htm (8-K) — 28KB
- exhibit-jcgletteragreement.htm (EX-10.1) — 19KB
- image_0.jpg (GRAPHIC) — 2KB
- lng-20241002_g1.gif (GRAPHIC) — 25KB
- 0000003570-24-000113.txt ( ) — 249KB
- lng-20241002.xsd (EX-101.SCH) — 2KB
- lng-20241002_lab.xml (EX-101.LAB) — 22KB
- lng-20241002_pre.xml (EX-101.PRE) — 13KB
- lng-20241002_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits d) Exhibits Exhibit No. Description 10.1 Letter Agreement, dated October 2, 2024, between the Company and Corey Grindal 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. CHENIERE ENERGY, INC. Date: October 3, 2024 By: /s/ Zach Davis Name: Zach Davis Title: Executive Vice President and Chief Financial Officer