8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): December 14, 2020

CONTURA ENERGY, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

001-38735	81-3015061
(Commission File Number)	(IRS Employer Identification No.)
340 Martin Luther King Jr. Blvd.<br><br>Bristol, Tennessee 37620
---
(Address of Principal Executive Offices, zip code)

(423) 573-0300

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

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:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	CTRA	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. ¨

TABLE OF CONTENTS
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Item 9.01 Financial Statements and Exhibits
Signatures
Exhibit Index

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 14, 2020, the Board of Directors (the “Board”) of Contura Energy, Inc. (the “Company”) appointed Andy Eidson as the Company’s President and Chief Financial Officer, effective immediately.

Prior to his appointment as the Company’s President, Mr. Eidson (45) had served as Contura’s executive vice president and chief financial officer since July 2016. From May 2019 until July 2019 he also served as interim co-chief executive officer of Contura. He previously served as executive vice president and chief financial officer of Alpha Natural Resources, Inc. prior to its emergence from bankruptcy proceedings in 2016 (“Predecessor Alpha”), a position he held from March 2016. Predecessor Alpha filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code on August 3, 2015. Before that Mr. Eidson was Predecessor Alpha’s senior vice president for strategy and business development from 2015 and vice president for mergers and acquisitions from 2014. Prior to joining Predecessor Alpha in July 2010, he held several financial positions across industry sectors, including at PricewaterhouseCoopers LLP, Eastman Chemical Company and Penn Virginia Resource Partners, where he led mergers and acquisitions projects for the coal segment and managed the budgeting and planning process. Mr. Eidson holds a bachelor of science degree, cum laude, in commerce and business administration from the University of Alabama and a master of business administration degree from Milligan College.

In connection with this appointment, the compensation committee of the Board has increased Mr. Eidson’s annual base salary to $600,000, which amount is temporarily reduced to $570,000 in accordance with a voluntary 5% salary reduction taken by the Company’s executive officers earlier in 2020. Mr. Eidson’s annual target and maximum bonus opportunities under the annual Contura Incentive Bonus Plan remain 100% and 200% of his base salary, respectively, subject to applicable performance criteria and plan terms. He remains eligible to receive an annual incentive award under the Company’s Long Term Incentive Plan, with his target award increased to 225% of his base salary, and he will continue to participate in the Company’s Key Employee Separation Plan (“KESP”) with a Benefit Factor (as defined in the KESP) of 1.5, or a Benefit Factor of 2 in the event of a Covered Change in Control Termination (as defined in the KESP), in each case subject to the terms of the plan.

There are no arrangements or understandings between Mr. Eidson and any other persons pursuant to which he was named as a director of the Company. Neither does he have any family relationship with any of the Company’s directors or executive officers or any person nominated or chosen by the Company to be a director or executive officer, nor does he have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.

Also on December 14, 2020 and effective immediately, the Board appointed Roger L. Nicholson as the Company’s Chief Administrative Officer in addition to his existing roles as Executive Vice President, General Counsel and Secretary. In addition, the Board appointed Daniel E. Horn as Executive Vice President – Sales.

A copy of the Company’s press release announcing these changes, dated December 17, 2020, is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1	Press Release issued by Contura Energy, Inc. on December 17, 2020
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

	Contura Energy, Inc.
Date: December 18, 2020	By:	/s/ C. Andrew Eidson
		Name: C. Andrew Eidson
		Title: President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release issued by Contura Energy, Inc. on December 17, 2020
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contura Appoints Andy Eidson as President and Chief Financial Officer

Roger Nicholson and Dan Horn Also Receive Promotions

BRISTOL, Tenn., December 17, 2020 - Contura Energy, Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical products for the steel-making industry, today announced promotions within its executive leadership team as part of the company’s long-term succession planning process.

Contura’s board of directors voted unanimously to promote Andy Eidson to president and chief financial officer, effective December 14, 2020. Eidson will continue his existing duties as chief financial officer along with new responsibilities as president. Additionally, the board voted unanimously to promote Roger Nicholson to executive vice president, chief administrative officer, general counsel and secretary, and Dan Horn to executive vice president of sales, both effective on December 14, 2020. In addition to his promotion, Horn will become a Section 16 officer of the company.

Contura’s chairman and chief executive officer David Stetson praised the decisions of the board. “As we look at our long-range planning to solidify the sustainability and future success of the company, I am pleased to announce these promotions among our executive team,” Stetson said. “Both Roger and Dan deserve additional recognition for the excellent jobs they have done within their current roles, and promoting Andy to serve as president is both an accurate reflection of the value he currently brings to the organization and a vote of confidence in his ability to continue enhancing his leadership capabilities. Along with chief operating officer Jason Whitehead, these individuals make up an outstanding executive management team. I look forward to continuing to work alongside them as we execute the company’s strategy well into the future.”

Eidson has served as executive vice president and chief financial officer for Contura since its July 2016 inception, and he previously held the same role at Alpha Natural Resources. Prior to joining the executive leadership team at Alpha, Eidson served in a number of management roles for the company in strategy, business development, and mergers and acquisitions.

“I’ve been blessed with some incredible opportunities over the course of my career, and I am excited for this chance to dig into the broader business of this great company,” Eidson said of his new role. “I believe the men and women who make up the Contura workforce are the best in the business, and I consider it an honor to serve alongside such a talented group of professionals. I welcome the opportunity to continue partnering with our top-notch executive team to achieve our strategic initiatives and keep moving the company forward.”

Nicholson has served as executive vice president, general counsel and secretary of Contura since December 2019. Prior to joining Contura, he practiced law as a member of Steptoe & Johnson PLLC’s Charleston office and served in various senior executive legal roles in private practice.

Horn has served as president of Contura Coal Sales, LLC since December 2019 and has led metallurgical coal sales for the company. He previously served in a similar role for Alpha Natural Resources, where he led North American and export sales for more than a decade.

ABOUT CONTURA ENERGY

Contura Energy (NYSE: CTRA) is a Tennessee-based coal supplier with affiliate mining operations across Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Contura Energy reliably supplies metallurgical coal to produce steel. For more information, visit www.conturaenergy.com.

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements. These forward-looking statements are based on Contura's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Contura’s control. Forward-looking statements in this news release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Contura to predict these events or how they may affect Contura. Except as required by law, Contura has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur.

INVESTOR CONTACT

investorrelations@conturaenergy.com

Alex Rotonen, CFA

423.956.6882

MEDIA CONTACT

corporatecommunications@conturaenergy.com

Emily O’Quinn

423.573.0369

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