FORESIGHT ENERGY LP (NYSE:FELP) 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
FORESIGHT ENERGY LP (NYSE:FELP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Long-Term Incentive Plan
On December 10, 2019, the board of directors of the Foresight Energy GP LLC, the general partner of Foresight Energy LP (“the Partnership”) terminated the Foresight Energy LP Long-Term Incentive Plan (the “LTIP”). The unvested awards of the Chief Executive Officer of the Partnership under the LTIP were cancelled without payment.
About FORESIGHT ENERGY LP (NYSE:FELP)
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. The Company controls over three billion tons of coal in the state of Illinois. Its reserves consist principally of over three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations. Thermal coal is used by power plants and industrial steam boilers to produce electricity or process steam. The Company operates over four underground mining complexes in the Illinois Basin, including Williamson, which is located in southern Illinois near the town of Marion; Sugar Camp, which is located in southern Illinois approximately 10 miles north of Williamson; Hillsboro, which is located in central Illinois near the town of Hillsboro, and Macoupin, which is located in central Illinois near the town of Carlinville. Williamson, Sugar Camp and Hillsboro are longwall operations, and Macoupin is a continuous miner operation.
