EXTERRAN CORPORATION (NYSE:EXTN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 17, 2018, Girish K. Saligram, age 46, has been appointed as Chief Operating Officer of Exterran Corporation (the “Company”) effective as of August 20, 2018. Mr. Saligram has served as the Company’s Senior Vice President, Global Services since August 2016. Prior to joining the Company, Mr. Saligram spent approximately 20 years in various positions with General Electric Company, the last of which was General Manager, Downstream Products & Services with GE Oil & Gas. Mr. Saligram holds a Masters Degree in Computer Science from Virginia Tech and a Masters in Business Administration from Northwestern University.
In connection with his appointment as Chief Operating Officer, Mr. Saligram will receive an increase in annual base salary to $625,000 and an increase in his annual short-term target incentive compensation target to 85% to the Company’s short-term incentive plan. Mr. Saligram has an existing Severance Benefit Agreement and Change in Control Agreement with the Company, which will not change. The material terms of Mr. Saligram’s Severance Benefit Agreement and Change in Control Agreement with the Company have been previously disclosed in the Company’s Definitive Proxy Statement for the Company’s 2018 Annual Meeting of Stockholders filed on March 16, 2018.
Item 7.01.Regulation FD Disclosure.
On August 22, 2018, the Company issued a press release announcing the promotion of Mr. Saligram, which is attached hereto as Exhibit 99.1 and incorporated herein by reference. This exhibit is furnished to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Sectionor Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall it be deemed incorporated by reference into any of the Company’s reports or filings with the SEC, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing.
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Item 9.01. |
Financial Statements and Exhibits. |
(d)Exhibits.
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Exhibit Number |
Description |
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99.1 |
Press Release dated August 22, 2018
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Exterran Corp ExhibitEX-99.1 2 a8-kexhibit991coogsaligram.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Exterran Corporation Appoints Girish K. Saligram as Chief Operating OfficerHOUSTON,…To view the full exhibit click here
About EXTERRAN CORPORATION (NYSE:EXTN)
Exterran Corporation is engaged in the provision of compression, production and processing products and services that support the production and transportation of oil and natural gas around the world. The Company operates through three segments: contract operations, aftermarket services and product sales. The contract operations segment provides natural gas compression services, production and processing equipment services, and maintenance services to meet specific customer requirements on assets owned by it. The aftermarket services segment provides a range of services to support the surface production, compression and processing needs of customers, from parts sales and normal maintenance services to full operation of a customer’s owned assets. The product sales segment provides design, engineering, manufacturing, installation and sale of natural gas compression units, and accessories and equipment used in the production, treating and processing of crude oil and natural gas.
