8-K
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 25, 2023

 

 

CRESTWOOD EQUITY PARTNERS LP

(Exact name of Registrant as specified in its charter)

 

 

 

DELAWARE   001-34664   43-1918951

(State of incorporation

or organization)

 

(Commission

file number)

 

(I.R.S. employer

identification number)

811 Main St., Suite 3400

Houston, TX 77002

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (832) 519-2200

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered pursuant to Section 12(b) of the Act

 

Tile of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common units representing limited partner interests   CEQP   New York Stock Exchange
Preferred Units representing limited partner interests   CEQP-P   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 25, 2023, Crestwood Equity Partners LP (“Crestwood” or the “Company”) issued a press release announcing Steven Dougherty, Executive Vice President and Chief Accounting Officer, will be leaving the Company to pursue other opportunities. Mr. Dougherty will continue to serve in his current role through the end of the second quarter 2023 to ensure an orderly transition of his responsibilities.

This termination is a mutual separation without cause, and Mr. Dougherty will receive severance compensation pursuant to the terms of his existing employment agreement, subject to Mr. Dougherty signing a customary release.

 

Item 9.01

Financial Statements and Exhibits

(d) Exhibits.

 

Exhibit
Number

  

Description

99.1    Press Release dated April 25, 2023
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1


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.

 

    CRESTWOOD EQITY PARTNERS LP
    By:   Crestwood Equity GP LLC, its General Partner,
Date: April 25, 2023     By:  

/s/ Michael K. Post

      Michael K. Post
      Vice President, Associate General Counsel & Corporate Secretary

 

2

EX-99.1

Exhibit 99.1

 

LOGO

  

News Release

CRESTWOOD EQUITY PARTNERS LP

811 Main Street, Suite 3400

Houston, TX 77002

www.crestwoodlp.com

Crestwood Announces Executive Team Changes

HOUSTON, TEXAS, April 25, 2023 – Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood” or the “Company”) announced today that Steven Dougherty, Executive Vice President and Chief Accounting Officer, will be leaving the Company to pursue other opportunities. Mr. Dougherty will continue to serve in his current role through the end of the second quarter 2023 to ensure an orderly transition of his responsibilities.

“I would like to personally thank Steven, or “Doc” as we fondly refer to him within the Company, for his many years of service and leadership at Crestwood. Doc has played a key role in building Crestwood from its infancy to what it is today, and his contributions have been fundamental to the Company’s success,” commented Robert G. Phillips, Founder, Chairman, and Chief Executive Officer of Crestwood. “Doc has been a core member of the Crestwood management team since 2012 and has developed a tremendous team of professionals within our accounting, financial reporting, tax, internal audit, IT, and risk management functions. We are excited for the opportunity for many of these highly talented leaders to advance their careers and are confident they are well prepared to ensure a seamless transition. While we are sad to see Doc move on from Crestwood, we wish him all the best in his future endeavors and the next chapter in his life.”

Steven Dougherty commented, “I am so proud of what we have built at Crestwood over the past 11 years. It has been an incredible privilege to work with an extraordinary group of executives and an extremely talented group of accounting, IT, audit, tax and risk management professionals that will continue to advance Crestwood as a leader in the midstream industry. I am very excited about Crestwood’s transformation over the past several years and look forward to seeing what the future holds for the organization.”

Mr. Dougherty will continue to serve as Executive Vice President and Chief Accounting Officer through the end of the second quarter 2023. Upon his departure, Jeff Cathey, Senior Vice President and Controller, will oversee the accounting department. Deana Werkowitch, Senior Vice President of Audit, Technology and Implementation Services will oversee the internal audit and technology functions. Donna Schmidt, Vice President of Tax will oversee the tax department. Casey Rosengarten, Vice President of Risk Management will oversee the risk management function.

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. To learn more about Crestwood Equity Partners LP, visit www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.

Source: Crestwood Equity Partners LP

 

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NEWS RELEASE

2 of 2

 

Crestwood Equity Partners LP

 

Investor Contact

 

Andrew Thorington, 713-380-3028

andrew.thorington@crestwoodlp.com

Vice President, Finance & Investor Relations

  

Sustainability and Media Contact

 

Joanne Howard, 832-519-2211

joanne.howard@crestwoodlp.com

Senior Vice President, Sustainability and Corporate Communications

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