Cloud Peak Energy Inc. (NYSE:CLD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January18, 2018, Cloud Peak Energy Inc. (“Cloud Peak Energy”) announced the departure of its Executive Vice President and Chief Operating Officer, Mr.Gary Rivenes. Mr.Rivenes’ last day as an employee of Cloud Peak Energy will be April17, 2018. However, effective immediately, Mr.Colin Marshall, Cloud Peak Energy’s President and Chief Executive Officer, assumed the responsibilities of Chief Operating Officer, in addition to his current role as President and Chief Executive Officer. Biographical and other information about Mr.Marshall can be found in Cloud Peak Energy’s most recent Proxy Statement filed with the U.S. Securities and Exchange Commission on March27, 2017, which information regarding Mr.Marshall is incorporated by reference in this Form8-K.
In connection with Mr.Rivenes’ departure, he will be entitled to receive benefits provided under existing company benefit plans and agreements, which include cash payments based on his base salary and target annual bonus, a pro rata portion of his 2018 bonus, pro rata vesting of unvested restricted stock units and potential pro rata vesting of performance share units at the end of each applicable three-year performance period, depending on actual performance during such periods.
About Cloud Peak Energy Inc. (NYSE:CLD)
Cloud Peak Energy Inc. is a producer of coal in the United States of America and the Powder River basin (PRB). The Company owns and operates three surface coal mines: the Antelope Mine, the Cordero Rojo Mine, and the Spring Creek Mine. The Company operates through two segments: Owned and Operated Mines segment, and Logistics and Related Activities. The Company’s Owned and Operated Mines segment is characterized by the focus on thermal coal production. Its segment includes the Company’s Antelope Mine, Cordero Rojo Mine, and Spring Creek Mine. The Company’s Logistics and Related Activities segment is characterized by the services the Company provides to its international and domestic customers. The services provided by it include the purchase of coal from third parties or from its owned and operated mines, at market prices, as well as the contracting and coordination of the transportation and other handling services from third-party operators, which are rail and terminal companies.
