UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of Executive Vice President and Chief Operating Officer
On September 21, 2022, Corey Grindal, Executive Vice President, Worldwide Trading of Cheniere Energy Partners GP, LLC (“Cheniere GP”), the general partner of Cheniere Energy Partners, L.P. (the “Partnership”), was appointed as Executive Vice President and Chief Operating Officer of Cheniere GP, effective as of January 2, 2023.
Mr. Grindal, 51, currently serves as Executive Vice President, Worldwide Trading of Cheniere GP and Cheniere Energy, Inc. (“Cheniere”). Mr. Grindal previously served as Senior Vice President, Gas Supply of Cheniere and Cheniere GP from September 2016 to September 2020, after joining Cheniere in June of 2013 as Vice President of Supply. Mr. Grindal has over 20 years of experience in pipeline construction and operations, project management, and natural gas and power trading. Prior to joining Cheniere, Mr. Grindal was with Deutsche Bank and was responsible for physical and financial trading. Prior to Deutsche Bank, Mr. Grindal held positions with Louis Dreyfus and the Tenneco/ El Paso companies. Mr. Grindal holds a B.S. degree in Mechanical Engineering with Honors from the University of Texas at Austin.
In connection with the appointment to his new position, Mr. Grindal will enter into Cheniere GP’s standard form of indemnification agreement, as described in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2021, filed on February 24, 2022.
There are no arrangements or understanding between Mr. Grindal and any other persons pursuant to which he was appointed as Executive Vice President and Chief Operating Officer and no family relationship among any of Cheniere GP’s directors or executive officers and Mr. Grindal.
Mr. Grindal’s son, Christian Grindal, is a non-executive employee of Cheniere who earned aggregate cash compensation of approximately $108,000 for fiscal year 2021, consisting of base salary and cash bonus, and equity compensation consisting of restricted stock unit (“RSU”) awards with a grant date fair value of $10,899. Christian Grindal is expected to earn aggregate cash compensation of approximately $130,000–$140,000 for fiscal year 2022, consisting of base salary, cash bonus and certain relocation and associated transportation expenses, in addition to receiving equity compensation consisting of time-based RSU awards with a grant date fair value of $11,584. In addition, Christian Grindal received in 2021 and is eligible to receive in 2022 other customary employee benefits. The compensation for Christian Grindal was established in accordance with its compensation practices applicable to employees with comparable qualifications and responsibilities and holding similar positions, without the involvement of Corey Grindal. The Partnership reimburses Cheniere for a portion of Christian Grindal’s annual earned compensation based on an allocation of his services pursuant to several services agreements between certain subsidiaries of the Partnership and certain subsidiaries of Cheniere.
| Item 7.01 | Regulation FD Disclosure. |
The Partnership’s press release announcing the appointment of Mr. Grindal as Executive Vice President and Chief Operating Officer is attached to this report as Exhibit 99.1 and is incorporated by reference into this Item 7.01.
The information included in this Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
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| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
||
| 99.1* | Press Release, dated September 21, 2022 | |
| 104 | Cover Page Interactive Data file (embedded within the Inline XBRL document) | |
| * | Furnished herewith |
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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 hereunto duly authorized.
| CHENIERE ENERGY PARTNERS, L.P. | ||||||
| By: | Cheniere Energy Partners GP, LLC, its general partner | |||||
| Date: September 21, 2022 |
By: | /s/ Zach Davis | ||||
| Name: | Zach Davis | |||||
| Title: | Executive Vice President and Chief Financial Officer | |||||
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