8-KLeadership ChangesExhibits & Filings

Targa Resources Corp. 8-K Report, Executive Changes (Jul 24, 2015)

Filed July 24, 2015For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) has filed an 8-K report on July 24, 2015, primarily to announce a change in its Board of Directors. Effective July 21, 2015, Waters S. Davis, IV was elected to the Board, filling a vacancy previously held by Peter R. Kagan. Mr. Davis's appointment is for a Class III Director term ending in 2016, and he has also been appointed to the Nominating and Governance Committee. This filing also details the compensation and agreements associated with Mr. Davis's directorship. He will receive compensation in line with other non-employee directors, including a bonus stock award of 567 shares and an indemnification agreement. The indemnification agreement, dated July 23, 2015, ensures Mr. Davis is protected against liabilities arising from his service to the company, consistent with Delaware law.

Key Highlights

  • 1Election of Waters S. Davis, IV to the Board of Directors, effective July 21, 2015.
  • 2Mr. Davis fills the vacancy left by Peter R. Kagan's resignation.
  • 3Mr. Davis appointed as a Class III Director with a term expiring in 2016.
  • 4Appointment of Mr. Davis to the Nominating and Governance Committee.
  • 5Mr. Davis will receive compensation as a non-employee director, including a stock award.
  • 6A bonus stock award of 567 shares was granted to Mr. Davis on July 23, 2015.
  • 7An indemnification agreement was entered into with Mr. Davis to protect him against potential liabilities.

Frequently Asked Questions

Waters S. Davis, IV has been elected to the Board of Directors of Targa Resources Corp., effective July 21, 2015.

Mr. Davis was appointed to fill the vacancy on the Board that was created by the resignation of Peter R. Kagan in May 2015.

Mr. Davis will serve as a Class III Director, with his term expiring in 2016. He has also been appointed as a member of the Company's Nominating and Governance Committee.

As a non-employee director, Mr. Davis will be compensated according to the company's standard policies, which includes a bonus stock award of 567 shares granted on July 23, 2015. Additionally, an indemnification agreement was executed to protect him against liabilities arising from his service to the company.