Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On January 29, 2021, effective immediately upon consummation of the GP
Sale, (i) each of Brady M. Murphy, Paul D. Coombs, D. Frank Harrison, Elijio V. Serrano and William D. Sullivan resigned from their respective positions as members of the Board and (ii) Messrs. Murphy and Serrano resigned from their
positions as President and Chief Financial Officer, respectively, of the General Partner (collectively, the Resignations). None of the Resignations was the result, in whole or in part, of any disagreement with the General Partner or
the Partnership.
Effective immediately upon the consummation of the GP Sale and the effectiveness of the Resignations, each of
Ted A. Gardner, John E. Jackson, Jonathan W. Byers, Robert W. Price and Stephen R. Gill became members of the Board (collectively, the New Directors). Directors who are also employees of Spartan, or any of its respective
subsidiaries or affiliates, will not receive additional compensation for service on the Board. Mr. Gardner and Mr. Gill will receive compensation in accordance with the Partnerships policies for compensating non-employee directors. Mr. Gill has been appointed to serve as a member of the Audit Committee. There are no arrangements, agreements or understandings between the Partnership and any New Director pursuant to
which such New Director was selected as director. None of Messrs. Gardner, Jackson, Byers, Price and Gill has any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. James R. Larson, a current member of the Board and the chairperson of the Audit Committee, will continue in such roles.
Also on January 29, 2021, effective immediately upon the consummation of the GP Sale, John E. Jackson was appointed as Chief Executive
Officer of the General Partner, Jonathan W. Byers was appointed as Chief Financial Officer of the General Partner and Robert W. Price was appointed as Chief Operating Officer of the General Partner.
John E. Jackson, age 63, has served as the President and Chief Executive Officer of Spartan Energy Partners LP since 2010. Prior to
joining Spartan Energy Partners LP, Mr. Jackson was the Chairman and CEO of Price Gregory Services, a leading energy infrastructure services provider specializing in pipeline construction. Prior to serving in his roles at Price Gregory
Services, Mr. Jackson served as President and Chief Executive Officer of Hanover Compressor. Prior to that, he held several positions at Duke Energy Field Services, including Chief Financial Officer, and Union Pacific Resources.
Mr. Jackson serves as on the board of directors of Basic Energy Services, Inc. (NYSE: BAS) and Main Street Capital Corporation (NYSE: MAIN). Mr. Jackson holds a B.B.A. in Accounting from Baylor University
Jonathan W. Byers, age 42, has served as Head of Corporate Development and Secretary of Spartan Energy Partners LP since 2010. Prior to
joining Spartan Energy Partners, Mr. Byers served as Vice President, Corporate Development for Price Gregory Services. Prior to joining Price Gregory Services, Mr. Byers held positions at SCF Partners (an energy focused investment firm)
and General Atlantic (a global, growth focused private equity firm). Prior to General Atlantic, Mr. Byers was employed with Goldman Sachs Group in the Investment Banking Division. Mr. Byers holds a B.S. in Business Administration from
Georgetown University and an MBA from Harvard Business School.
Robert W. Price, age 53, has served as Chief Operating Officer of
Spartan Energy Partners since 2010. Prior to joining Spartan Energy Partners, Mr. Price held senior management positions with Exterran Corporation (EXTN), Hanover Compressor Company and Ariel Compressor Corporation. Mr. Price has spent
most of his career developing and executing gas treating and processing applications in the U.S. and Latin America. Mr. Price holds a B.S. in Mechanical Engineering from The University of Notre Dame and an MBA from Carnegie Mellon.
None of the aforementioned officers of the General Partner have employment contracts with the Partnership. The Partnership does not directly
employ the officers of the General Partner and does not have control over their compensation. The officers of the General Partner are employed by Spartan and its affiliates and participate in their employee benefit plans and arrangements. Following
the completion of the transactions contemplated by the Purchase Agreement, all decisions as to the compensation of the officers of the General Partner will be determined and approved by Spartan. There is no family relationship between Messrs.
Jackson, Byers and Price, on the one hand, and any director or executive officer of the General Partner or any person nominated or chosen to become a director or executive officer of the General Partner. Additionally, none of Messrs. Jackson, Byers
and Price has any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
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