Cheniere Energy Appoints New COO, Details Compensation

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

From the Filing

0000003570-24-000113.txt : 20241003 0000003570-24-000113.hdr.sgml : 20241003 20241003080019 ACCESSION NUMBER: 0000003570-24-000113 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241002 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241003 DATE AS OF CHANGE: 20241003 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Cheniere Energy, Inc. CENTRAL INDEX KEY: 0000003570 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 954352386 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16383 FILM NUMBER: 241349929 BUSINESS ADDRESS: STREET 1: 845 TEXAS AVENUE STREET 2: SUITE 1250 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7133755000 MAIL ADDRESS: STREET 1: 845 TEXAS AVENUE STREET 2: SUITE 1250 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: CHENIERE ENERGY INC DATE OF NAME CHANGE: 19960827 FORMER COMPANY: FORMER CONFORMED NAME: BEXY COMMUNICATIONS INC DATE OF NAME CHANGE: 19940314 FORMER COMPANY: FORMER CONFORMED NAME: ALL AMERICAN GROUP OF DELAWARE INC DATE OF NAME CHANGE: 19931004 8-K 1 lng-20241002.htm 8-K lng-20241002 0000003570 false 0000003570 2024-10-02 2024-10-02 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): October 2, 2024 CHENIERE ENERGY, INC. (Exact name of registrant as specified in its charter) Delaware 001-16383 95-4352386 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 845 Texas Avenue , Suite 1250 Houston , Texas 77002 (Address of principal executive offices) (Zip Code) ( 713 )  375-5000 (Registrant’s telephone number, including area code) 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: ☐     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 Name of each exchange on which registered Common Stock, $0.003 par value LNG NYSE 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 October 2, 2024, Cheniere Energy, Inc. (the “Company”) and Corey Grindal, the Company’s Executive Vice President and Chief Operating Officer, entered into a letter agreement (the “Letter Agreement”) setting forth the terms of Mr. Grindal’s transition to Ex