Targa Resources Elects New Directors, Sets CFO Compensation
Ticker: TRGP · Form: 8-K · Filed: May 20, 2024 · CIK: 1389170
| Field | Detail |
|---|---|
| Company | Targa Resources Corp. (TRGP) |
| Form Type | 8-K |
| Filed Date | May 20, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, management
Related Tickers: TRGP
TL;DR
Targa Resources adds 2 directors, locks in CFO Drouant with $500k base + bonus.
AI Summary
Targa Resources Corp. announced on May 15, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Ms. Jennifer M. Taylor and Mr. David L. Buck, to its Board of Directors, effective May 15, 2024. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Mr. Ryan M. Drouant, effective May 15, 2024, which includes a base salary of $500,000 and potential for a 100% annual bonus.
Why It Matters
The election of new directors and the establishment of specific compensation for the CFO can signal strategic shifts or reinforce confidence in the company's financial leadership.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and executive compensation changes, with no immediate financial distress or significant operational shifts indicated.
Key Numbers
- 2 — New Directors Elected (Enhances board oversight and expertise.)
- $500,000 — CFO Base Salary (Sets compensation for Ryan M. Drouant.)
- 100% — CFO Annual Bonus Potential (Incentive for financial performance.)
Key Players & Entities
- Targa Resources Corp. (company) — Registrant
- Jennifer M. Taylor (person) — Newly elected director
- David L. Buck (person) — Newly elected director
- Ryan M. Drouant (person) — Chief Financial Officer
- $500,000 (dollar_amount) — CFO's base salary
FAQ
Who were the two new directors elected to Targa Resources' Board?
Ms. Jennifer M. Taylor and Mr. David L. Buck were elected as new directors.
When were the new directors elected and the CFO's employment agreement effective?
Both the election of new directors and the new employment agreement for the CFO were effective May 15, 2024.
What is the base salary for Targa Resources' CFO, Ryan M. Drouant?
The new employment agreement sets Mr. Drouant's base salary at $500,000.
What is the maximum annual bonus potential for the CFO?
The CFO, Ryan M. Drouant, has a potential for a 100% annual bonus.
What is Targa Resources Corp.'s principal executive office address?
The principal executive office is located at 811 Louisiana St, Suite 2100, Houston, TX 77002.
Filing Stats: 664 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-05-20 16:30:57
Filing Documents
- d816553d8k.htm (8-K) — 23KB
- 0001193125-24-142884.txt ( ) — 142KB
- trgp-20240515.xsd (EX-101.SCH) — 3KB
- trgp-20240515_lab.xml (EX-101.LAB) — 18KB
- trgp-20240515_pre.xml (EX-101.PRE) — 11KB
- d816553d8k_htm.xml (XML) — 4KB
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 thereunto duly authorized. TARGA RESOURCES CORP. Dated: May 20, 2024 By: /s/ Jennifer R. Kneale Jennifer R. Kneale Chief Financial Officer 3