Atlas Energy Group, LLC (OTCMKTS:ATLS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Atlas Energy Group, LLC (OTCMKTS:ATLS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 20, 2017, the board of directors (the “Board”) of Atlas Energy Group, LLC (the “Company”) authorized the deferral until March 1, 2018 of the vesting of all phantom units granted to officers and employees under the Company’s 2015 Long-Term Incentive Plan that had previously been scheduled to vest during 2017. The deferral affects unvested phantom units held by Edward E. Cohen, Jonathan Z. Cohen, Daniel C. Herz, Jeffrey M. Slotterback and Mark D. Schumacher. As consideration for the deferral, the Company will make a deferred vesting payment to all employees (including the officers) equal to approximately 25% of the value of affected phantom units.

The Board determined the deferral was in the Company’s best interests as the Company continues to evaluate options regarding changes to its debt or equity capital structure.

Story continues below


About Atlas Energy Group, LLC (OTCMKTS:ATLS)

Atlas Energy Group, LLC is an energy management company, which acquires and develops upstream and midstream oil and gas assets. The Company has ownership interests in the general partner Class A units, and over 23.3% limited partner interest in Atlas Resource Partners, L.P. (ARP), which is an independent developer and producer of natural gas, crude oil and natural gas liquids; over 80% general partner interest and approximately 2.1% limited partner interest in Atlas Growth Partners, L.P. (AGP), which conducts natural gas and oil operations in the mid-continent region of the United States, and owns approximately 15.9% general partner interest and over 12% limited partner interest in Lightfoot Capital Partners, L.P. and Lightfoot Capital Partners GP, LLC, its general partner, which incubates new master limited partnerships (MLPs) and invests in existing MLPs. Its segments include ARP, AGP, and Corporate and other. The Company focuses on the development and growth of energy enterprises.

Atlas Energy Group, LLC (OTCMKTS:ATLS) Recent Trading Information

Atlas Energy Group, LLC (OTCMKTS:ATLS) closed its last trading session down -0.028 at 0.460 with 755,267 shares trading hands.

An ad to help with our costs