CONE Midstream Partners LP (NYSE:CNNX) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02. Unregistered Sales of Equity Securities.
On October19, 2017, Raymond T. Betler was appointed as a member of the Board. Mr.Betler was also appointed to the Audit Committee of the Board effective as of such date.
The Board has determined that Mr.Betler is independent for Board and Audit Committee purposes under the applicable standards of the New York Stock Exchange and the rules and regulations of the Securities and Exchange Commission.
As a non-employee director, Mr.Betler will receive the standard compensation for service on the Board as described in the Partnership’s most recent Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on February16, 2017 (the “Annual Report”); provided, however, that Mr.Betler’s non-employee director’s annual cash retainer for fiscal year 2017 will be pro-rated to reflect his actual length of service during the year. As a member of the Audit Committee, Mr.Betler will also receive the annual retainer for members of the Audit Committee as described in the Annual Report, pro-rated for fiscal year 2017 to reflect his actual length of service during the year. In connection with his appointment to the Board, Mr.Betler also received a one-time grant of restricted common units under the Partnership’s 2014 Long-Term Incentive Plan with an aggregate value of $80,000, pro-rated for fiscal year 2017 to reflect his actual length of service during the year.
Mr.Betler was not appointed to any arrangement or understanding with any other person, and there are no transactions with Mr.Betler that would be reportable under Item 404(a) of Regulation S-K.
About CONE Midstream Partners LP (NYSE:CNNX)
CONE Midstream Partners LP is a master limited partnership formed between CONSOL Energy Inc. (CONSOL) and Noble Energy, Inc. (Noble Energy). The Company owns, operates, develops and acquires natural gas gathering and other midstream energy assets to service CONSOL’s and Noble Energy’s production in the Marcellus Shale in Pennsylvania and West Virginia. Its segments include anchor systems, growth systems and additional systems. Its anchor systems comprise over three primary midstream systems, which are the McQuay System, the Majorsville System and the Mamont System, and related assets. Its growth systems comprise over three midstream systems, which are the Fink System, the Tygart Valley system and the Tygart Valley West System, and related assets. Its additional systems comprise various midstream systems and related assets located in the wet gas regions of its acreage. Its assets include natural gas gathering pipelines, and compression and dehydration facilities.
