8-KLeadership Changes

ENBRIDGE INC 8-K Report, Executive Changes (May 29, 2020)

Filed May 29, 2020For Securities:ENBENBMFEBBGFEBRGFEBRZFENBGFENBRFENFFFEBGEFENBFFENBHFENBNFENBOFENBSFEBBNFENNPF

Summary

Enbridge Inc. (ENB) filed an 8-K report on May 29, 2020, to announce a key leadership change within its finance department. Effective June 1, 2020, Patrick R. Murray has been appointed as the new Senior Vice President & Chief Accounting Officer. This appointment signifies an internal promotion, with Mr. Murray having a long tenure at Enbridge since 1997 and holding various senior finance roles, including Vice President of Financial Planning, Analysis & Controller. Investors should note that Mr. Murray's compensation package includes a base salary of C$317,000, eligibility for an annual discretionary bonus targeting 50% of his base salary under the Short Term Incentive Plan, and a 2021 incentive target of 150% of his base salary under the Long Term Incentive Plan. There are no disclosed related-party transactions or family relationships that would raise concerns. This change reflects continuity and internal development within the company's financial leadership.

Key Highlights

  • 1Patrick R. Murray appointed Senior Vice President & Chief Accounting Officer, effective June 1, 2020.
  • 2Mr. Murray has been with Enbridge since 1997, demonstrating long-term commitment and internal progression.
  • 3Previous roles include Vice President, Financial Planning, Analysis & Controller (2018-2020).
  • 4Base salary for the new role is set at C$317,000.
  • 5Eligible for an annual discretionary bonus with a target of 50% of base salary.
  • 62021 Long Term Incentive Plan target set at 150% of base salary.
  • 7No disclosed material arrangements, understandings, or family relationships with other officers/directors.

Frequently Asked Questions

Patrick R. Murray has been appointed as the new Senior Vice President & Chief Accounting Officer of Enbridge Inc., effective June 1, 2020.

Mr. Murray has a long history with Enbridge, joining in 1997. He has held various positions of increasing responsibility within the Finance group, including Vice President, Treasury; Vice President, Financial Planning & Analysis; and most recently, Vice President, Financial Planning, Analysis & Controller.

Mr. Murray's compensation includes a base salary of C$317,000, an annual discretionary bonus with a target of 50% of his base salary, and a 2021 Long Term Incentive Plan target of 150% of his base salary.

The filing states there are no arrangements or understandings with other persons for his appointment, no family relationships with directors or executive officers, and no direct or indirect material interest in any transaction requiring disclosure.