Delaware (State or other jurisdiction of incorporation) |
001-32740 (Commission File Number) |
30-0108820 (IRS Employer Identification No.) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Change in | ||||||||||||||||||||||||||||||||||||
Pension | ||||||||||||||||||||||||||||||||||||
Non- | Value and | |||||||||||||||||||||||||||||||||||
Equity | Nonqualified | |||||||||||||||||||||||||||||||||||
Incentive | Deferred | |||||||||||||||||||||||||||||||||||
Equity | Option | Plan | Compensation | All Other | ||||||||||||||||||||||||||||||||
Name and Principal | Salary | Bonus | Awards | Awards | Compensation | Earnings | Compensation | |||||||||||||||||||||||||||||
Position | Year | ($) | ($)(1) | ($)(2) | ($) | ($) | ($) | ($)(3) | Total ($) | |||||||||||||||||||||||||||
ETE Officer: |
||||||||||||||||||||||||||||||||||||
John W.
McReynolds |
2007 | $ | 399,228 | $ | 600,000 | | | | | $ | 9,346 | $ | 999,228 | |||||||||||||||||||||||
President
and Chief Financial Officer |
||||||||||||||||||||||||||||||||||||
ETP Officers: |
||||||||||||||||||||||||||||||||||||
Mackie McCrea |
2007 | 380,769 | 600,000 | 150,303 | | | | 14,481 | 1,145,553 | |||||||||||||||||||||||||||
President Midstream |
||||||||||||||||||||||||||||||||||||
R.C. Mills |
2007 | 388,482 | 300,000 | 93,251 | | | | 8,162 | 789,895 | |||||||||||||||||||||||||||
President Propane |
||||||||||||||||||||||||||||||||||||
Brian J.
Jennings (4) |
2007 | 189,231 | 300,000 | | | | | 2,387,910 | 2,877,141 | |||||||||||||||||||||||||||
Chief Financial Officer |
||||||||||||||||||||||||||||||||||||
Jerry J. Langdon (5) |
2007 | 53,846 | 62,500 | | | | | 324,614 | 440,960 | |||||||||||||||||||||||||||
Chief Administrative
and Compliance Officer |
||||||||||||||||||||||||||||||||||||
Thomas P. Mason (6) |
2007 | 238,462 | 291,667 | | | | | 2,478,593 | 3,008,722 | |||||||||||||||||||||||||||
General Counsel
and Secretary |
(1) | The bonus amounts for the persons shown in this table represent the discretionary bonus paid in December 2007 relating to the fiscal year ended August 31, 2007. | |
(2) | The amounts in this column reflect the amount of compensation expense recognized in our consolidated financial statements for the year ended August 31, 2007, determined in accordance with SFAS 123(R). The compensation expense for fiscal year 2007 is net of the impact of the cumulative adjustment of prior period compensation expense resulting from the unit forfeiture in 2007 due to the failure to achieve specified performance conditions. | |
(3) | The amounts in this column include (a) the amount of compensation expense recognized in our consolidated financial statements for the year ended August 31, 2007 related to equity-based awards of units in ETE owned by an affiliate to certain of our named executive officers, as discussed further above and in Note 6 to our consolidated financial statements, and (b) contributions to the 401(k) plan made by ETP on behalf of the named executive officers. | |
(4) | Mr. Jennings began employment on March 6, 2007. | |
(5) | Mr. Langdon began employment on July 1, 2007. | |
(6) | Mr. Mason began employment on February 1, 2007. |
2
ENERGY TRANSFER EQUITY, L.P. | ||||||
By: | LE GP, LLC | |||||
its general partner | ||||||
By: | /s/ John W. McReynolds | |||||
Name: John W. McReynolds | ||||||
Title: President and Chief Financial Officer |