GREEN PLAINS PARTNERS LP (NASDAQ:GPP) 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;
CompensatoryArrangements of Certain Officers.
(f) On February 22, 2017, Green Plains Partners LPfiled its 2016
Annual Report Form 10-K and indicated in the 2016 Executive
Compensation Summary of Item 11that amounts related to our
parents Umbrella Short-Term Incentive Plan had not been
finalized. These amounts have since been finalized and an updated
2016 Executive Compensation Summary is shown below:
2016 Executive Compensation Summary
The following table provides certain compensation information for
our Named Executive Officers (NEOs) for the years ended December
31, 2016 and 2015:
|
Name and principal position |
Year |
Salary (1) |
Stock awards (1)(2) |
Non-equity incentive plan comp.(3) |
Total |
||||
|
Todd Becker, President and Chief Executive Officer |
2016 |
$ |
22,916 |
$ |
135,312 |
$ |
79,118 |
$ |
237,346 |
|
2015 |
11,350 |
– |
32,428 | 43,778 | |||||
|
Jerry Peters, Chief Financial Officer |
2016 |
15,004 | 26,189 | 14,186 | 55,379 | ||||
|
2015 |
6,486 |
– |
5,188 | 11,674 | |||||
|
Jeffrey Briggs, Chief Operating Officer(4) |
2016 |
15,004 | 26,189 | 16,226 | 57,419 | ||||
|
2015 |
– |
– |
– |
– |
|||||
(1) The amounts shown reflect compensation allocated to us from
our parent for the periods presented. Per our omnibus agreement,
a percentage allocation of 4.36% was applied to compensation for
the full year of 2016, and a percentage allocation of 4.32% was
applied to compensation for the period subsequent to the IPO for
the 2015 year, or July 1, 2015, to December 31, 2015.
(2) A column for Bonus, which relates to discretionary cash
bonuses that are not part of a short-term incentive plan has been
omitted from this table because no compensation is reportable
thereunder. Stock awards were awarded to our parents 2009 Equity
Incentive Plan, as amended, and included as part of the
compensation allocation in 2016; stock awards were not allocated
in 2015.
(3)Non-equity incentive plan compensation amountsarepaid to our
parents UmbrellaShort-Term Incentive Planand included as part of
the compensation allocation.
(4) Mr. Briggs was not a NEO in 2015; therefore, no compensation
is provided for the 2015 year.
2
About GREEN PLAINS PARTNERS LP (NASDAQ:GPP)
Green Plains Partners LP provides fee-based fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The Company’s parent company is Green Plains Inc. (Green Plains). The Company was formed by Green Plains, a vertically integrated ethanol producer, to support its marketing and distribution activities as its primary downstream logistics provider. The Company’s ethanol storage assets are the principal method of storing the ethanol produced at its parent’s ethanol production plants. The Company owns approximately 30 ethanol storage facilities and approximately 50 acres of land. The Company’s storage tanks are located at its parent’s ethanol production plants. The Company’s ethanol storage tanks have combined storage capacity of approximately 31.8 million gallons (mmg) and an aggregate throughput capacity of approximately 1,670 million gallons per year. GREEN PLAINS PARTNERS LP (NASDAQ:GPP) Recent Trading Information
GREEN PLAINS PARTNERS LP (NASDAQ:GPP) closed its last trading session down -0.60 at 19.40 with 46,358 shares trading hands.