Summary
This 10-K/A filing from Cheniere Energy, Inc. (LNG) for the period ending December 31, 2001, provides insights into the company's leadership and compensation structures. The document details the directors and executive officers, highlighting extensive experience in the energy and finance sectors. It also outlines the compensation awarded to key executives, predominantly through stock options, with limited base salaries and bonuses for some. Notably, the filing addresses Section 16(a) reporting compliance, stating that all requirements were met with a minor exception. Furthermore, the report sheds light on the security ownership of major stakeholders and management, revealing significant holdings by BSR Investments, Ltd. (controlled by the mother of Chairman Charif Souki) and by the directors and officers as a group. The filing also discloses certain related party transactions, including consulting fees paid to Charif Souki and placement fees to a company associated with his brother, all of which the company asserts were conducted on arm's length terms and approved by the Board.
Key Highlights
- 1The Board of Directors and Executive Officers possess substantial experience in the energy and finance industries, with backgrounds from companies like Mobil, Shell, Exxon, and major investment firms.
- 2Executive compensation for 2001 was heavily weighted towards stock options, with no cash bonuses for most top executives, indicating a focus on aligning executive interests with long-term shareholder value.
- 3Charles M. Reimer, President and CEO, received a significant increase in annual compensation in 2000 and was granted a substantial number of stock options, reflecting his critical role.
- 4BSR Investments, Ltd., controlled by the mother of Chairman Charif Souki, is a significant shareholder, holding approximately 10.8% of the outstanding common stock and holding warrants for additional shares.
- 5The company states that all Section 16(a) beneficial ownership reporting requirements were met for the fiscal year ended December 31, 2001, with the exception of a late filing by Walter Williams.
- 6Outside directors received no cash compensation in 2001 but were granted stock options as compensation for their services.
- 7Related party transactions include consulting fees paid to Chairman Charif Souki and placement fees to a company associated with his brother, with the company asserting these were on arm's length terms and approved by the Board.