CALUMET SPECIALTY PRODUCTS PARTNERS, L.P. (NASDAQ:CLMT) 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.
Officer
David West Griffin as Executive Vice President and Chief
Financial Officer of Calumet GP, LLC (the Company), the general
partner of Calumet Specialty Products Partners, L.P. (the
Partnership), effective January 5, 2017. Prior to joining the
Company, Mr. Griffin, 55, served as President of Renovar
Resources LLC since 2015. Mr. Griffin served as the Chief
Financial Officer of Energy XXI (Bermuda) Limited (also known as
Energy XXI Ltd.) from 2005 to 2014. Mr. Griffin graduated Magna
Cum Laude from Dartmouth College in 1983 and received his Masters
in Business Administration from Dartmouth Colleges Amos Tuck
School of Business in 1985.
entered into an Offer Letter of Employment dated December 26,
2016 (the Offer Letter). to the Offer Letter, Mr. Griffin will
receive a base salary of $400,000 per annum and will be eligible
to earn an annual performance bonus of 150% of his then current
base salary based on the Partnership achieving certain financial
goals and Mr. Griffin accomplishing certain individual
performance goals established by the Board of Directors of the
Company (the Board). Mr. Griffin will also be eligible to receive
a restricted unit award of up to 500,000 phantom units that will
be eligible to vest over a four-year period and will be issued
the Partnerships long-term incentive plan.
directors or officers of the Company. There have been no
transactions nor are there any proposed transactions between the
Company and Mr. Griffin that would require disclosure to Item
404(a) of Regulation S-K.
a change in title for R. Patrick Murray, II from Executive Vice
President, Chief Financial Officer and Secretary to Vice
President, Chief Accounting Officer and Secretary. The
Compensation Committee did not make any changes to Mr. Murrays
compensation in connection with this change.
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Exhibit Number
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Description
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99.1
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Press release, dated January 5, 2017.
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About CALUMET SPECIALTY PRODUCTS PARTNERS, L.P.> (NASDAQ:CLMT)
Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products. The Company operates through three segments. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes. Its specialty products are sold to domestic and international customers using its products as raw material components. It also blends and market specialty products through its Royal Purple, Bel-Ray, TruFuel and Quantum brands. In its fuel products segment, the Company processes crude oil into a range of fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt and heavy fuel oils, and resells purchased crude oil to third-party customers. Its oilfield services segment manufactures and markets products and provides oilfield services, including drilling fluids, completion fluids and solids control services to the oil and gas exploration industry. CALUMET SPECIALTY PRODUCTS PARTNERS, L.P.> (NASDAQ:CLMT) Recent Trading Information
CALUMET SPECIALTY PRODUCTS PARTNERS, L.P.> (NASDAQ:CLMT) closed its last trading session up +0.10 at 4.60 with 323,860 shares trading hands.
