8-KLeadership ChangesRegulation FDExhibits & Filings

Cheniere Energy, Inc. 8-K Report, Executive Changes (Jun 11, 2019)

Filed June 11, 2019For Securities:LNG

Summary

Cheniere Energy, Inc. (LNG) has announced the appointment of Michele A. Evans as an independent member of its Board of Directors, effective June 7, 2019. Ms. Evans brings extensive executive experience from Lockheed Martin Corporation, where she held senior leadership roles in the Aeronautics business area. Her appointment to the Board and its Audit Committee and Governance and Nominating Committee is expected to enhance the company's governance and strategic oversight. Ms. Evans will receive compensation consistent with other non-employee directors, including an annual retainer of $295,000 comprised of an equity retainer and additional compensation options. Her appointment is a positive development for investors, signaling a commitment to strengthening the Board's expertise with an individual possessing a strong background in complex industrial operations and financial oversight, as evidenced by her roles and committee appointments.

Key Highlights

  • 1Appointment of Michele A. Evans as an independent director to the Board of Directors.
  • 2Ms. Evans has been appointed to the Audit Committee and the Governance and Nominating Committee.
  • 3Ms. Evans possesses significant executive experience from Lockheed Martin Corporation, including her role as Executive Vice President of Aeronautics.
  • 4She is considered an independent director and meets NYSE American listing standards for the Audit Committee.
  • 5Ms. Evans will receive standard compensation for non-employee directors, totaling $295,000 annually (pro-rated).
  • 6Compensation includes an equity retainer and a choice between restricted stock or cash for additional compensation.
  • 7The company has filed a press release as Exhibit 99.1 announcing this appointment.

Frequently Asked Questions

Michele A. Evans is a new independent director appointed to Cheniere Energy's Board of Directors. She has a strong background in complex industrial operations, having served as Executive Vice President of the Aeronautics business area for Lockheed Martin Corporation since 2018. Prior to that, she held various senior leadership roles at Lockheed Martin, demonstrating extensive experience in program management and executive leadership.

Ms. Evans' appointment strengthens the Board's expertise, particularly with her experience in operational oversight and governance, as indicated by her appointment to the Audit Committee. Her independent status and significant executive background are positive signals for corporate governance and strategic decision-making, which are crucial for investor confidence in a company like Cheniere Energy.

Ms. Evans will receive the same compensation as other non-employee directors, which is pro-rated from her appointment date. This includes an annual retainer of $295,000, consisting of a $195,000 equity retainer and $100,000 in additional compensation, which she can elect to receive as restricted stock or cash. Her Equity Retainer will vest prior to the 2020 annual shareholder meeting.