USA Compression Partners LP Announces Board and Executive Changes

TL;DR

USA Compression Partners LP shakes up its board and executive pay structure.

AI Summary

USA Compression Partners, LP announced on March 21, 2024, changes in its leadership and compensation. The company elected two new directors, Matthew Gary and David Miller, to its Board of Directors. Additionally, the company entered into new employment agreements with certain officers, including an amended and restated employment agreement with its CEO, Eric L. Wilson.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategy and operational direction.

Key Players & Entities

• USA Compression Partners, LP (company) — Registrant
• Matthew Gary (person) — Newly elected director
• David Miller (person) — Newly elected director
• Eric L. Wilson (person) — CEO
• March 21, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• usac-20240321.htm (8-K) — 24KB
• 0001522727-24-000019.txt ( ) — 149KB
• usac-20240321.xsd (EX-101.SCH) — 2KB
• usac-20240321_lab.xml (EX-101.LAB) — 22KB
• usac-20240321_pre.xml (EX-101.PRE) — 13KB
• usac-20240321_htm.xml (XML) — 3KB

From the Filing

usac-20240321 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): March 21, 2024 USA Compression Partners, LP (Exact Name of Registrant as Specified in Charter) Delaware 1-35779 75-2771546 (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 111 Congress Avenue , Suite 2400 Austin , Texas 78701 (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: ( 512 ) 473-2662 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of exchange on which registered Common units representing limited partner interests USAC New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 21, 2024, Mr. W. Brett Smith announced his resignation from the board of directors of USA Compression GP, LLC (the " General Partner "), the general partner of USA Compression Partners, LP (the " Partnership "), including all committees of the Board on which he serves, effective March 22, 2024. Mr. Smith's decision to resign from the board of directors of the General Partner was not due to any disagreement with the General Partner or the Partnership relating to operations, practices or policies. On March 21, 2024, Energy Transfer LP (" ET "), the sole member of the General Partner appointed John L. Wortham to serve as a director on the Board to fill the vacancy created by Mr. Smith's resignation, effective as of March 22, 2024. In connection with Mr. Wortham's appointment, the Board appointed Mr. Wortham to serve on the audit and compensation committees of the Board. Mr. Wortham will serve on these committees in addition to Mr. Glenn Joyce and Mr. William Waldheim. There are no arrangements or understandings between Mr. Wortham and any other persons pursuant to which he will serve as a director. As an outside director, Mr. Wortham will receive compensation from the Partnership for his service as a director on the Board pursuant to the General Partner's Amended and Restated Outside Director Compensation Policy, as described in the Partnership's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 13, 2024, including an award of 2,500 phantom units upon his appointment to the Board. There are no relationships between Mr. Wortham and the General Partner or the Partnership that would require disclosure pursuant to Item 404(a) of Regulation S-K. SIGNATURE 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. USA COMPRESSION PARTNERS, LP By: USA Compression GP, LLC, its General Partner Date: March 22, 2024 By: /s/ Christopher W. Porter Christopher W. Porter Vice President, General Counsel and Secretary

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