8-KLeadership ChangesExhibits & Filings

Targa Resources Corp. 8-K Report, Executive Changes (Sep 11, 2018)

Filed September 11, 2018For Securities:TRGP

Summary

Targa Resources Corp. (TRGP) announced a change to its Board of Directors on September 11, 2018, via an 8-K filing. The company expanded its board from ten to eleven members, appointing Ms. Beth A. Bowman as a Class II Director with a term expiring in 2021. Ms. Bowman has also been appointed to the Risk Management Committee, indicating a focus on governance and oversight. Ms. Bowman's appointment is part of the company's standard director compensation practices. She will receive a restricted stock award of 771 shares, vesting in one year, contingent on continued service. Additionally, an indemnification agreement has been entered into with Ms. Bowman to cover potential liabilities arising from her service. This filing primarily concerns corporate governance and does not appear to involve significant financial transactions or operational updates.

Key Highlights

  • 1Targa Resources Corp. expanded its Board of Directors from ten to eleven members.
  • 2Ms. Beth A. Bowman was appointed as a new Class II Director.
  • 3Ms. Bowman's term as a director will expire at the Company's 2021 annual meeting of stockholders.
  • 4Ms. Bowman has been appointed to the Board's Risk Management Committee.
  • 5Ms. Bowman received a restricted stock award of 771 shares, vesting on September 7, 2019.
  • 6The Company entered into an indemnification agreement with Ms. Bowman.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the appointment of a new director, Ms. Beth A. Bowman, to Targa Resources Corp.'s Board of Directors and to disclose the related compensation and indemnification arrangements.

Ms. Bowman has been appointed as a Class II Director and to the Risk Management Committee. As a non-employee director, she will receive compensation in line with the company's policies, including a restricted stock award of 771 shares that vests in one year, contingent on continued service.

Based on the provided content, this 8-K filing primarily addresses changes in corporate governance related to the Board of Directors. It does not appear to contain information about significant operational, strategic, or financial performance changes for Targa Resources.

An indemnification agreement is standard practice for public company directors. It protects Ms. Bowman by requiring Targa Resources to indemnify her to the fullest extent permitted by Delaware law against liabilities that may arise from her service as a director, and to advance related expenses.