Summary
Quanta Services, Inc. (PWR) filed an 8-K on June 1, 2021, announcing significant changes in its accounting leadership and reporting on the outcomes of its 2021 Annual Meeting of Stockholders. The most notable event is the appointment of Paul M. Nobel as the new Chief Accounting Officer, effective May 27, 2021. Mr. Nobel brings extensive experience from previous roles at Lilis Energy, Kosmos Energy, and World Fuel Services, including a background in public accounting with Deloitte & Touche LLP. His compensation package includes a base salary of $420,000, annual and long-term incentive targets, and a restricted stock unit award valued at $100,000, vesting over three years.
Key Highlights
- 1Paul M. Nobel appointed as Chief Accounting Officer, effective May 27, 2021, taking over from interim principal accounting officer Derrick A. Jensen.
- 2Mr. Nobel has a strong background in financial reporting, accounting, tax, FP&A, and risk management from prior roles at Lilis Energy, Kosmos Energy, and World Fuel Services.
- 3Mr. Nobel's compensation includes an annual base salary of $420,000, annual incentive target of 60% of base salary, and long-term target incentive of 80% of base salary.
- 4A restricted stock unit award of $100,000, vesting over three years, was granted to Mr. Nobel.
- 5All nine director nominees were re-elected at the 2021 Annual Meeting of Stockholders.
- 6The advisory resolution on executive compensation was approved by stockholders.
- 7The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2021 was ratified by stockholders.