CHESAPEAKE ENERGY CORPORATION (NYSE:CHK) 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>
Chesapeake Energy Corporation (the Company) appointed Luke R.
Corbett to the Board. Mr. Corbett will serve on the Audit and
Nominating, Governance Social Responsibility Committees of the
Board.
Corbett will receive the standard annual retainer paid to each
non-employee director, including: (i) an annual retainer of
$100,000, paid quarterly in installments; and (ii) an annual
grant of restricted stock units with an aggregate value of
approximately $250,000, issued to the Companys 2014 Long Term
Incentive Plan. Mr. Corbett will receive prorated cash and
restricted stock unit awards for the remainder of 2016.
will enter into the Company’s standard indemnity agreement for
officers and directors.
and the Company or any other person to which Mr. Corbett was
appointed as a director of the Company. Mr. Corbett is not
related to any officer or director of the Company. There are no
transactions or relationships between Mr. Corbett and the Company
that would be required to be reported under Item 404(a) of
Regulation S-K, other than the following: Grant Loxton, the
son-in-law of Mr. Corbett, has been an employee of the Company
since May 2011. Mr. Loxtons total cash and equity compensation
for 2015 was $342,124. Mr. Loxtons compensation for 2016 will be
disclosed in the Companys proxy statement for the 2017 Annual
Meeting of Shareholders, if required. The Company is a
significant employer in Oklahoma City. We seek to fill positions
with qualified employees, whether or not they are related to our
executive officers or directors. We compensate employees who have
such relationships within what we believe to be the current
market rate for their position and provide benefits consistent
with our policies that apply to similarly situated employees.
Compensation arrangements for family members of related parties
are approved by the Compensation Committee.
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Incorporated by Reference
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Exhibit Number
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Exhibit Description
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Exhibit
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10.1
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Form of Indemnity Agreement for officers and directors of
Chesapeake and its subsidiaries |
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8-K
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001-13726
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10.3
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6/27/2012
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About CHESAPEAKE ENERGY CORPORATION (NYSE:CHK)
Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL. The marketing, gathering and compression segment is responsible for marketing, gathering and compression of oil, natural gas and NGL. It has positions in resource plays of the Eagle Ford Shale in South Texas; the Utica Shale in Ohio and Pennsylvania; the Anadarko Basin in northwestern Oklahoma and the Texas Panhandle, and the Niobrara Shale in the Powder River Basin in Wyoming. Its natural gas resource plays are the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania, and the Barnett Shale in the Fort Worth Basin of north-central Texas. CHESAPEAKE ENERGY CORPORATION (NYSE:CHK) Recent Trading Information
CHESAPEAKE ENERGY CORPORATION (NYSE:CHK) closed its last trading session up +0.13 at 7.31 with 40,455,865 shares trading hands.