QEP RESOURCES, INC. (NYSE:QEP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

QEP RESOURCES, INC. (NYSE:QEP) 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

Story continues below

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As disclosed in the Current Report on Form 8-K filed on September 14, 2017, by QEP Resources, Inc. (the "Company"), the Company announced that Matthew Thompson, Vice President, Energy, had elected to leave the Company to pursue other opportunities effective September 15, 2017. Subsequent to filing the Form 8-K, in conjunction with Mr. Thompson's departure from the Company, the Company approved compensation to Mr. Thompson as follows: 1) cash severance of $387,900; 2) prorated accelerated vesting of long-term incentive awards resulting in 16,860 shares of restricted stock, options to purchase 15,861 shares of stock, and 19,441 performance share units (to be paid in cash based on actual performance in February 2018, February 2019 and February 2020); and 3) insurance and other benefits.


About QEP RESOURCES, INC. (NYSE:QEP)

QEP Resources, Inc. (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other). The Company operates through QEP Energy segment. QEP Energy Company conducts exploration and production (E&P) activities in several of North America’s hydrocarbon resource plays. The Company’s operations are focused in two geographic regions: the Northern Region (primarily in Wyoming, North Dakota and Utah) and the Southern Region (primarily in Texas and Louisiana) of the United States. The Company’s properties in its Northern Region include Pinedale, Williston Basin, Uinta Basin and Other Northern properties. Its Southern Region includes various properties, such as Permian Basin and Midcontinent operations.

An ad to help with our costs