8-KLeadership ChangesRegulation FDExhibits & Filings

EQT Corp 8-K Report, Executive Changes (Jan 3, 2020)

Filed January 3, 2020For Securities:EQT

Summary

EQT Corporation (EQT) has announced the appointment of David M. Khani as its new Chief Financial Officer (CFO), effective January 3, 2020. Mr. Khani brings extensive experience to EQT, having previously served as CFO for CONSOL Energy Inc. and holding various financial leadership roles within the energy sector, including at CONE Midstream Partners. His appointment is a key leadership change, and the company has provided details on his compensation package and the transition plan for the interim CFO. Mr. Khani's compensation includes a base salary of $540,000, eligibility for short-term and long-term incentive plans, and a significant $2,000,000 signing bonus, which is subject to repayment under certain conditions within the first year of employment. The company is also finalizing a confidentiality, non-solicitation, and non-competition agreement with Mr. Khani. This move signifies EQT's commitment to strengthening its financial leadership team as it pursues its strategic objectives.

Key Highlights

  • 1David M. Khani appointed as Chief Financial Officer (CFO) effective January 3, 2020.
  • 2Mr. Khani has a strong background in financial leadership within the energy sector, notably as CFO of CONSOL Energy Inc.
  • 3Kyle Derham, the interim CFO, will transition to an executive advisory role to ensure a smooth handover.
  • 4Mr. Khani's compensation package includes an annual base salary of $540,000.
  • 5He is eligible for short-term and long-term incentive plans, with a 2020 long-term incentive award valued at $2,500,000.
  • 6A signing bonus of $2,000,000 in cash is provided, with repayment conditions for early termination within one year.
  • 7EQT Corporation will finalize a confidentiality, non-solicitation, and non-competition agreement with the new CFO.

Frequently Asked Questions

David M. Khani has been appointed as the new Chief Financial Officer (CFO) of EQT Corporation, effective January 3, 2020.

Mr. Khani has a robust financial background in the energy industry. He previously served as Executive Vice President and CFO for CONSOL Energy Inc. and held financial leadership roles at CONE Midstream Partners, LP. He also holds a Chartered Financial Analyst (CFA) designation.

Mr. Khani's compensation includes an annual base salary of $540,000, eligibility for the company's Short-Term Incentive Plan, a 2020 long-term incentive award valued at $2,500,000, and a $2,000,000 signing bonus. The signing bonus has a repayment clause if employment is terminated within one year under specific circumstances.

Kyle Derham, who was serving as the Interim Chief Financial Officer, will continue with EQT in an executive advisory role to facilitate a smooth transition and support the company's strategic initiatives.