ENLINK MIDSTREAM, LLC (NYSE:ENLC) 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 December30, 2018, GIP III Stetson II, L.P., as the holder of a majority of the outstanding common units of EnLink Midstream, LLC (the “Company”), approved by written consent (the “Approval”) an increase in the number of common units (the “Unit Increase”) authorized for issuance under the EnLink Midstream, LLC 2014 Long-Term Incentive Plan (the “Current Plan”), together with an amendment and restatement of the Current Plan to effect such Unit Increase (the Current Plan, as so amended and restated, the “Amended Company Plan”). The Unit Increase and the Amended Company Plan were previously approved, on December13, 2018, by the Board of Directors (the “Board”) of EnLink Midstream Manager, LLC, the managing member of the Company.
to rulesadopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, on December31, 2018, a Schedule 14C Information Statement (“Information Statement”) was first sent or given to the unitholders of the Company other than GIP III Stetson II, L.P. The Unit Increase and the Amended Company Plan will become effective on January20, 2019, which is the date that is 20 calendar days after the date the Information Statement was first sent or given to such unitholders.
The Amended Company Plan permits the grant of cash and equity-based awards, which may be awarded in the form of options, restricted unit awards, restricted incentive units, unit appreciation rights, distribution equivalent rights, unit awards, cash awards, and performance awards to the employees, consultants, and independent contractors of the Company and its affiliates, as well as outside directors serving on the Board. The Amended Company Plan will (i)increase the number of common units authorized for issuance from 11,000,000 common units to 17,700,000 common units and (ii)amend the term of the Current Plan so that it expires on December30, 2028. In general, the Amended Company Plan will be administered by the Governance and Compensation Committee of the Board. This description of the Amended Company Plan does not purport to be complete and is qualified in its entirety by reference to the Amended Company Plan, a copy of which is filed with this Current Reporton Form8-K as Exhibit10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
EnLink Midstream, LLC Exhibit
EX-10.1 2 a18-42096_1ex10d1.htm EX-10.1 Exhibit 10.1 ENLINK MIDSTREAM,…
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About ENLINK MIDSTREAM, LLC (NYSE:ENLC)
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers. TOM Holdings and its subsidiaries are controlled by the Partnership and have similar operations to the Partnership. The Partnership has five reportable segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The Partnership’s assets consist of gathering systems, transmission pipelines, processing facilities, fractionation facilities, stabilization facilities, storage facilities and ancillary assets.
