| 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.
-2-