UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of Chief Financial Officer
On June 15, 2020, the Board of Directors (the “Board”) of CONSOL Energy Inc. (the “Company”) appointed Mitesh Thakkar, age 41, to the role of Chief Financial Officer. Mr. Thakkar has served as the Company’s interim Chief Financial Officer since January 1, 2020, as reported on the Company’s Form 8-K filed with the Securities and Exchange Commission on January 3, 2020. The information set forth in such 8-K under the headings “Appointment of Interim Chief Financial Officer” and “Severance and Change in Control Agreement with Mr. Thakkar” is incorporated herein by reference. Mr. Thakkar has also served as the interim Chief Financial Officer of the Company’s subsidiary, CONSOL Coal Resources GP LLC (the “General Partner”) since January 1, 2020, and was appointed by the Board of Directors of the General Partner to be its Chief Financial Officer on June 15, 2020.
In connection with Mr. Thakkar’s appointment to the role of Chief Financial Officer of the Company, the Compensation Committee of the Board approved the following compensation for Mr. Thakkar: (i) an annual base salary of $325,000; (ii) a short-term incentive compensation target equal to $162,500, subject to proration for the 2020 calendar year in accordance with the Company’s short-term incentive plan; and (iii) a long-term incentive compensation target equal to $350,000 effective for the Company’s 2021 grant cycle for long-term incentive compensation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CONSOL ENERGY INC. | ||
By: |
/s/ Martha A. Wiegand | |
Martha A. Wiegand | ||
General Counsel and Secretary |
Dated: June 18, 2020