8-KMaterial AgreementsExhibits & Filings

Cheniere Energy, Inc. 8-K Report, Material Agreement (Jun 9, 2006)

Filed June 9, 2006For Securities:LNG

Summary

Cheniere Energy, Inc. filed an 8-K on June 9, 2006, to report a material definitive agreement regarding the hiring of David B. Gorte as Senior Vice President and Chief Risk Officer, effective August 21, 2006. This appointment signifies a strengthening of the company's executive team, particularly in risk management, which is crucial for a company operating in the energy sector with complex projects and market dynamics. Mr. Gorte's compensation package includes an annual base salary of $240,000, a grant of 10,000 restricted shares upon commencement of employment, and eligibility for annual bonuses and other standard employee benefits. The filing also references a more detailed summary of executive compensation, which is attached as an exhibit. Investors should note this move as it indicates management's focus on mitigating operational and financial risks, a key factor for long-term shareholder value.

Key Highlights

  • 1Appointment of David B. Gorte as Senior Vice President and Chief Risk Officer, effective August 21, 2006.
  • 2Annual base salary for Mr. Gorte set at $240,000.
  • 3Mr. Gorte to receive a grant of 10,000 restricted shares.
  • 4Eligibility for Mr. Gorte to participate in the company's annual bonus programs (cash and/or stock).
  • 5Standard participation in other employee benefits.
  • 6Filing incorporates by reference Exhibit 10.1, a Summary of Compensation for Executive Officers.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the entry into a material definitive agreement for the hiring of a new executive officer, David B. Gorte, as Senior Vice President and Chief Risk Officer.

Mr. Gorte's compensation includes an annual base salary of $240,000, a grant of 10,000 restricted shares on his employment start date, and eligibility for annual cash and/or stock bonuses, along with other employee benefits.

Mr. Gorte's employment is expected to commence on August 21, 2006.

Further details regarding the compensation of the company's executive officers, including Mr. Gorte, are provided in Exhibit 10.1, which is attached to this filing and incorporated by reference.