ONE Gas Names New CFO, Sets Compensation
Ticker: OGS · Form: 8-K · Filed: May 29, 2024 · CIK: 1587732
| Field | Detail |
|---|---|
| Company | One Gas, INC. (OGS) |
| Form Type | 8-K |
| Filed Date | May 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
ONE Gas just hired a new CFO, Kevin Burke, starting June 3rd. He's getting $450k base + stock.
AI Summary
On May 23, 2024, ONE Gas, Inc. announced the appointment of Kevin P. Burke as Senior Vice President and Chief Financial Officer, effective June 3, 2024. Burke will receive an annual base salary of $450,000 and will be eligible for annual incentive compensation. He will also receive a one-time grant of restricted stock units valued at $1,000,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $450,000 — CFO Base Salary (Annual compensation for Kevin P. Burke)
- $1,000,000 — CFO Stock Grant (One-time restricted stock unit award for Kevin P. Burke)
Key Players & Entities
- ONE Gas, Inc. (company) — Registrant
- Kevin P. Burke (person) — Appointed Senior Vice President and Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- $1,000,000 (dollar_amount) — Value of one-time restricted stock unit grant for new CFO
- June 3, 2024 (date) — Effective date for new CFO
- May 23, 2024 (date) — Date of the earliest event reported
FAQ
What is Kevin P. Burke's prior experience relevant to his new role?
The filing does not provide details on Kevin P. Burke's prior experience.
What are the performance metrics for the annual incentive compensation?
The filing states he will be eligible for annual incentive compensation but does not specify the performance metrics.
Are there any clawback provisions associated with the stock grant?
The filing does not mention any specific clawback provisions for the stock grant.
What is the vesting schedule for the restricted stock units?
The filing does not specify the vesting schedule for the $1,000,000 restricted stock unit grant.
Who previously held the CFO position at ONE Gas, Inc.?
The filing does not state who previously held the CFO position.
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 7.9 · Accepted 2024-05-29 16:38:47
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share OGS New York Stock Exchange
Filing Documents
- ogs-20240529.htm (8-K) — 43KB
- 0001587732-24-000035.txt ( ) — 164KB
- ogs-20240529.xsd (EX-101.SCH) — 2KB
- ogs-20240529_lab.xml (EX-101.LAB) — 21KB
- ogs-20240529_pre.xml (EX-101.PRE) — 12KB
- ogs-20240529_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. In accordance with the ONE Gas, Inc. (the "Company") director retirement policy as set forth our By-Laws and Corporate Governance Guidelines, Robert B. Evans and Douglas H. Yaeger retired from the Board of Directors effective May 23, 2024, immediately prior to the annual meeting of shareholders. Upon the retirements of Messrs. Evans and Yaeger, the number of members of the Board of Directors was reduced from nine to seven.
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders The Company held its annual meeting of shareholders on May 23, 2024. The matters voted upon at the meeting and the results of such voting are set forth below: 1. Election of Directors . The individuals set forth below were elected to the Board of Directors of the Company to serve one-year terms expiring at our 2025 annual meeting of shareholders by a majority of the votes cast by the shareholders present in person or by proxy and entitled to vote as follows: Director Votes For Votes Against Abstain Broker Non-Votes John W. Gibson 47,647,368.022 712,919.049 71,608.207 4,527,827.000 Tracy E. Hart 47,967,739.863 381,322.863 82,832.552 4,527,827.000 Deborah A. P. Hersman 48,063,585.622 289,370.198 78,939.458 4,527,827.000 Michael G. Hutchinson 47,755,072.091 595,273.989 81,549.198 4,527,827.000 Robert S. McAnnally 47,962,728.542 392,878.022 76,288.714 4,527,827.000 Pattye L. Moore 47,733,601.339 624,097.554 74,196.385 4,527,827.000 Eduardo A. Rodriguez 47,577,231.691 775,511.498 79,152.089 4,527,827.000 2. Ratification of our Independent Auditor . The appointment of PricewaterhouseCoopers LLP as independent auditor for the Company for the fiscal year ending December 31, 2024, was ratified by a majority of the voting power of the shareholders present in person or by proxy and entitled to vote as follows: Votes For Votes Against Abstain 52,432,025.132 415,374.951 112,322.195 3. Advisory vote on Executive Compensation . The advisory vote on compensation paid to our named executive officers as disclosed in our Proxy Statement for the 2024 annual meeting, including the Compensation Discussion and Analysis, compensation tables and narrative discussion, was approved by a majority of the voting power of the shareholders present in person or by proxy and entitled to vote as follows: Votes For Votes Against Abstain Broker Non-Votes 46,394,396.023 1,865,717.881 171,781.374 4,527,827.000 2 SIGN