0001193125-20-172636.txt : 20200618 0001193125-20-172636.hdr.sgml : 20200618 20200618171559 ACCESSION NUMBER: 0001193125-20-172636 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200615 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20200618 DATE AS OF CHANGE: 20200618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONSOL Coal Resources LP CENTRAL INDEX KEY: 0001637558 STANDARD INDUSTRIAL CLASSIFICATION: BITUMINOUS COAL & LIGNITE MINING [1220] IRS NUMBER: 473445032 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37456 FILM NUMBER: 20973526 BUSINESS ADDRESS: STREET 1: 1000 CONSOL ENERGY DRIVE STREET 2: SUITE 100 CITY: CANONSBURG STATE: PA ZIP: 15317 BUSINESS PHONE: 724-485-3300 MAIL ADDRESS: STREET 1: 1000 CONSOL ENERGY DRIVE STREET 2: SUITE 100 CITY: CANONSBURG STATE: PA ZIP: 15317 FORMER COMPANY: FORMER CONFORMED NAME: CNX Coal Resources LP DATE OF NAME CHANGE: 20150324 8-K 1 d942452d8k.htm FORM 8-K Form 8-K

 

 

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): June 15, 2020

 

 

CONSOL Coal Resources LP

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-37456   47-3445032

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

1000 CONSOL Energy Drive, Suite 100

Canonsburg, Pennsylvania 15317

(Address of principal executive offices)

(Zip code)

Registrant’s telephone number, including area code:

(724) 416-8300

Not applicable

(Former name or former address, if changed since last report)

 

 

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(s)

   

Name of each exchange

on which registered

Common Units representing limited partner interests    CCR    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.

Appointment of Chief Financial Officer

On June 15, 2020, the Board of Directors (the “Board”) of CONSOL Coal Resources GP LLC (the “General Partner”), the general partner of CONSOL Coal Resources LP (“CCR”), appointed Mitesh Thakkar, age 41, to the role of Chief Financial Officer of the General Partner. Mr. Thakkar has served as the General Partner’s interim Chief Financial Officer since January 1, 2020, as reported on CCR’s Form 8-K filed with the Securities and Exchange Commission on January 3, 2020. The information set forth in such 8-K under the headings “Appointment of Interim Chief Financial Officer” and “Severance and Change in Control Agreement with Mr. Thakkar” is incorporated herein by reference. Mr. Thakkar has also served as the interim Chief Financial Officer of the General Partner’s parent, CONSOL Energy Inc. (“CEIX”), since January 1, 2020.

At the same time of Mr. Thakkar’s appointment as Chief Financial Officer of the General Partner, Mr. Thakkar was also appointed to serve as the Chief Financial Officer of CEIX. CCR is a party to an omnibus agreement with CEIX under which CCR reimburses CEIX on a monthly basis for compensation-related expenses (including salary, bonus, incentive compensation and other amounts) attributable to the portion of an executive’s compensation that is allocable to the General Partner. As a result of our 25% undivided interest in the Pennsylvania Mining Complex, we reimburse CEIX for approximately 25% of the total compensation-related expenses (including salary, bonus, incentive compensation and other amounts) incurred by CEIX and attributable to our executive officers’ compensation.

In connection with Mr. Thakkar’s appointment to the role of Chief Financial Officer of CEIX, the Compensation Committee of the Board of Directors of CEIX approved the following compensation for Mr. Thakkar: (i) an annual base salary of $325,000; (ii) a short-term incentive compensation target equal to $162,500, subject to proration for the 2020 calendar year in accordance with CEIX’s short-term incentive plan; and (iii) a long-term incentive compensation target equal to $350,000 effective for CEIX’s 2021 grant cycle for long-term incentive compensation.

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.

 

CONSOL COAL RESOURCES LP

 

By: CONSOL Coal Resources GP, LLC, its general partner

By:  

/s/ Martha A. Wiegand

  Martha A. Wiegand
  General Counsel and Secretary

Dated: June 18, 2020