Summary
Targa Resources Corp. (TRGP) announced on June 3, 2020, an expansion of its Board of Directors from eleven to twelve members with the appointment of Ms. Lindsey M. Cooksen. Ms. Cooksen has been designated as a Class II Director, with her term set to expire at the 2021 annual stockholder meeting. Her appointment fills a newly created position, demonstrating a strategic expansion of the board's oversight capabilities. In conjunction with her directorship, Ms. Cooksen will receive compensation in line with the company's established policies for non-employee directors. This includes a restricted stock award of 2,149 shares, vesting in one year, and she has entered into an indemnification agreement with the company, aligning with standard corporate governance practices to protect directors against potential liabilities. This filing provides transparency regarding board composition changes and director compensation arrangements.
Key Highlights
- 1Targa Resources Corp. appointed Ms. Lindsey M. Cooksen to its Board of Directors, increasing board size to twelve members.
- 2Ms. Cooksen has been appointed as a Class II Director, with her term ending at the 2021 annual stockholder meeting.
- 3The new director position is a newly created role, suggesting potential strategic growth or governance adjustments.
- 4Ms. Cooksen will receive compensation as a non-employee director, including a restricted stock award under the company's 2010 Stock Incentive Plan.
- 5A restricted stock award of 2,149 shares was granted to Ms. Cooksen, vesting one year from the grant date, contingent on continued service.
- 6An indemnification agreement has been entered into with Ms. Cooksen to protect her against liabilities arising from her service to the company, consistent with Delaware law.
- 7There are no undisclosed arrangements or relationships requiring disclosure under Item 404(a) of Regulation S-K between Ms. Cooksen and the company.