Targa Resources Corp. Announces Board and Executive Changes
Ticker: TRGP · Form: 8-K · Filed: Jun 25, 2024 · CIK: 1389170
| Field | Detail |
|---|---|
| Company | Targa Resources Corp. (TRGP) |
| Form Type | 8-K |
| Filed Date | Jun 25, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $680,000, $575,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: TRGP
TL;DR
Targa Resources shakes up board, names new CFO, and adjusts exec pay.
AI Summary
Targa Resources Corp. announced on June 24, 2024, changes in its board of directors and executive compensation. Specifically, Kevin J. McCarthy resigned from the Board of Directors, and the company appointed Jeffrey A. Miller as a new director. Additionally, the company entered into new employment agreements with certain executive officers, including a new employment agreement with Jennifer R. Young as Chief Financial Officer.
Why It Matters
Changes in board composition and executive appointments can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and executive compensation can introduce uncertainty regarding future strategy and operational execution.
Key Players & Entities
- Targa Resources Corp. (company) — Registrant
- Kevin J. McCarthy (person) — Resigned Director
- Jeffrey A. Miller (person) — Appointed Director
- Jennifer R. Young (person) — Appointed Chief Financial Officer
- June 24, 2024 (date) — Date of earliest event reported
FAQ
Who has resigned from Targa Resources Corp.'s Board of Directors?
Kevin J. McCarthy has resigned from the Board of Directors.
Who has been appointed as a new director to Targa Resources Corp.'s Board?
Jeffrey A. Miller has been appointed as a new director.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is June 24, 2024.
What is the new role for Jennifer R. Young mentioned in the filing?
Jennifer R. Young has entered into a new employment agreement as Chief Financial Officer.
What specific items are being reported in this Form 8-K?
This Form 8-K reports on the departure of directors, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Filing Stats: 987 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2024-06-24 18:41:31
Key Financial Figures
- $680,000 — (i) an increased annual base salary of $680,000; and (ii) an annual long term incentive
- $575,000 — r is comprised of: a base salary of (i) $575,000; (ii) an annual cash incentive compensa
Filing Documents
- d608931d8k.htm (8-K) — 30KB
- 0001193125-24-167143.txt ( ) — 150KB
- trgp-20240624.xsd (EX-101.SCH) — 3KB
- trgp-20240624_lab.xml (EX-101.LAB) — 18KB
- trgp-20240624_pre.xml (EX-101.PRE) — 11KB
- d608931d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit Number Description 10.1* Form of Indemnification Agreement between Targa Resources Investments Inc. and each of the directors and officers thereof (incorporated by reference to Exhibit 10.4 to Targa Resources Corp.'s Registration Statement on Form S-1/A filed November 8, 2010 (File No. 333-169277)). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Previously Filed 2
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: June 24, 2024 By: /s/ Jennifer R. Kneale Jennifer R. Kneale Chief Financial Officer 3