Summary
Targa Resources Corp. (TRGP) announced on March 14, 2024, a significant addition to its Board of Directors, appointing Ms. Caron A. Lawhorn. Ms. Lawhorn has been appointed as a Class III Director, with her term set to expire at the 2025 annual meeting. Furthermore, she has been named a member of the Board's Audit Committee, a critical oversight function for financial reporting and internal controls. This appointment is a standard governance update and does not indicate any unusual arrangements or relationships requiring further disclosure under SEC regulations. Ms. Lawhorn will receive compensation in line with the company's existing policies for non-employee directors, which includes equity awards under the Amended and Restated Targa Resources Corp. 2010 Stock Incentive Plan. The company also entered into a standard indemnification agreement with Ms. Lawhorn to ensure her protection in connection with her service.
Key Highlights
- 1Appointment of Ms. Caron A. Lawhorn as a Class III Director to the Board of Directors.
- 2Ms. Lawhorn's term as director will expire at the 2025 annual meeting.
- 3Ms. Lawhorn has been appointed as a member of the Board's Audit Committee.
- 4No special arrangements or undisclosed relationships exist between Ms. Lawhorn and the company.
- 5Ms. Lawhorn will receive compensation as a non-employee director, including equity awards.
- 6A pro-rated restricted stock award is expected to be granted to Ms. Lawhorn.
- 7The company entered into a standard indemnification agreement with Ms. Lawhorn.