8-KLeadership ChangesShareholder Matters

EQT Corp 8-K Report, Executive Changes (Apr 21, 2010)

Filed April 21, 2010For Securities:EQT

Summary

This 8-K filing by EQT Corporation, dated April 21, 2010, announces a significant leadership transition and reports on the outcomes of its Annual Shareholder Meeting. The most crucial update for investors is the appointment of David L. Porges as the new President and Chief Executive Officer, effective immediately. Mr. Porges, with extensive experience within EQT since 1998, including his prior roles as CFO and COO, succeeds Murry S. Gerber, who will transition to Executive Chairman until the 2011 Annual Meeting. The filing also provides detailed results from the Annual Meeting, where shareholders voted on several key proposals. These included the election of four directors, the ratification of Ernst & Young LLP as the independent auditor for 2010, and two shareholder proposals concerning majority vote standards for director elections and sustainability/climate change disclosures. The results indicate strong shareholder support for the incumbent directors and the auditor, though a shareholder proposal for a majority vote standard received notable support.

Key Highlights

  • 1David L. Porges has been appointed President and Chief Executive Officer of EQT Corporation, effective April 21, 2010.
  • 2Murry S. Gerber will transition from CEO to Executive Chairman, serving in this role until the 2011 Annual Meeting of Shareholders.
  • 3Mr. Porges has a long tenure with EQT, having held various senior financial and operational roles since 1998.
  • 4The Annual Meeting saw the election of four directors: Vicky A. Bailey, Murry S. Gerber, George L. Miles, Jr., and James W. Whalen, all to three-year terms expiring in 2013.
  • 5Shareholders ratified the appointment of Ernst & Young, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2010.
  • 6A shareholder proposal for a majority vote standard in director elections received a significant number of votes in favor, though it did not pass.
  • 7A shareholder proposal regarding sustainability/climate change disclosure did not receive majority support.

Frequently Asked Questions

David L. Porges has been appointed as the new President and Chief Executive Officer of EQT Corporation, effective April 21, 2010.

Murry S. Gerber will continue to serve as Executive Chairman of EQT Corporation through the company's 2011 Annual Meeting of Shareholders.

Four directors were elected to serve three-year terms expiring in 2013: Vicky A. Bailey, Murry S. Gerber, George L. Miles, Jr., and James W. Whalen. All were elected with substantial support from shareholders.

Yes, shareholders ratified the appointment of Ernst & Young, LLP as the independent registered public accounting firm for the year ended December 31, 2010, with a strong majority vote in favor.