Document
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): July 31, 2018
Southcross Energy Partners, L.P.
(Exact name of registrant as specified in its charter)
|
| | | | |
Delaware | | 001-35719 | | 45-5045230 |
(State or other jurisdiction of incorporation or organization) | | (Commission File Number) | | (IRS Employer Identification No.) |
1717 Main Street
Suite 5200
Dallas, Texas 75201
(Address of principal executive office) (Zip Code)
(214) 979-3700
(Registrant's telephone number, including area code)
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company o
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. o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, on May 10, 2018, the Board of Directors (the “Board”) of Southcross Energy Partners GP, LLC, the general partner (the “General Partner”) of Southcross Energy Partners, L.P. (the “Partnership”), upon recommendation of the Compensation Committee, determined that David Biegler, acting Chairman, President and Chief Executive Officer of the General Partner, would be entitled to receive a cash payment in the amount of $150,000 as compensation for his service as acting Chairman, President and Chief Executive Officer of the General Partner. On July 31, 2018, the Board, upon recommendation of the Compensation Committee, determined that Mr. Biegler shall be entitled to receive $50,000 per month as compensation for his continued service as acting Chairman, President and Chief Executive Officer beginning as of July 1, 2018.
Mr. Biegler is entitled to participate in SXE’s standard complement of health and retirement benefits under the same plans as all other employees, including medical, dental and vision benefits, disability and life insurance coverage, and a defined contribution plan that is tax-qualified under Section 401(k) of the Internal Revenue Code. Mr. Biegler will continue to participate in the General Partner’s non-employee director compensation arrangements as disclosed in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2017 and will be reimbursed for certain expenses including those incurred in attending Board and committee meetings.
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.
|
| | | | |
| | Southcross Energy Partners, L.P. |
| | | |
| | | |
| | By: | Southcross Energy Partners GP, LLC, |
| | | its general partner |
| | | |
| | | |
Dated: August 2, 2018 | | By: | /s/ Bret M. Allan |
| | | Name: | Bret M. Allan |
| | | Title: | Senior Vice President and Chief Financial Officer |