Peabody Energy Corp 8-K, filed Aug 13, 2021
Peabody Energy Corp (BTU)
About this 8-K
Peabody Energy Corp filed this 8-K on August 13, 2021, reporting on events of August 11, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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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:
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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).
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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 August 11, 2021, Peabody Energy Australia Coal Pty Ltd, a wholly-owned subsidiary of Peabody Energy Corporation (the “Company”), entered into an Variation of Employment Contract (the “Amendment”) to the Employment Agreement dated October 22, 2020 (the “Employment Agreement”), with Darren R. Yeates, the Company’s Executive Vice President and Chief Operating Officer. The Employment Agreement limited the Company’s contribution to the Australia superannuation fund to 10% of the statutory maximum covered base salary, currently AU$235,680 per year. The Company’s standard practice is to contribute the superannuation percentage on full base salary, including the amount above the statutory maximum. The Amendment modifies the Employment Agreement to be consistent with treatment for other of the Company’s Australian employees effective as of August 1, 2021. Pursuant to the Amendment, the Company’s additional superannuation contribution per year, using Mr. Yeates’ current salary and the Company’s superannuation amounts, would be AU$74,570.
The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, a copy of which is attached as Exhibit 10.1 hereto and incorporated by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 99.1 | Variation of Employment Contract, dated August 11, 2021, between Peabody Energy Australia Coal Pty Ltd and Darren R. Yeates. | |
| 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.
| PEABODY ENERGY CORPORATION | ||||||
| August 13, 2021 | By: | /s/ Scott T. Jarboe | ||||
| Name: | Scott T. Jarboe | |||||
| Title: | Chief Legal Officer | |||||
Exhibit 99.1
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Peabody | |||
| Peabody Plaza | ||||
| 701 Market Street | ||||
| St. Louis, MO 63101-1826 | ||||
| 314.342.4383 | ||||
| JAMES GRECH | jimgrech@peabodyenergy.com | |||
| President and Chief Executive Officer |
August 11, 2021
PRIVATE & CONFIDENTIAL
Mr. Darren Yeates
c/- 100 Melbourne Street
South Brisbane QLD 4101
Dear Darren:
Variation of Employment Contract
This letter serves to confirm the recent discussion regarding variations to the terms and conditions of your employment contract (Contract). The details of the varied terms are outlined below and will be effective from August 1, 2021:
| 1. | All references to the words ‘plus superannuation up to the maximum contribution base’ in the remuneration table on page 1 of the Contract, are deleted in its entirety and replaced with the wording: ‘plus superannuation in accordance with this Contract’. |
| 2. | The clause titled ‘Superannuation’ is deleted in its entirety and replaced with the following: |
“The Company will make monthly contributions in accordance with legislative requirements and Peabody policies, currently at 10% of your base salary. Salary sacrifice options are available to you should you wish to make additional contributions, and if so, those will be in accordance with the applicable Company policy as amended from time to time and Australian taxation legislation.”
All other benefits and conditions of your original employment contract will remain unchanged.
Please sign and return the acknowledgement below to signify your acceptance of these changes.
Yours sincerely,
James Grech
President & Chief Executive Officer
I acknowledge and accept the terms and conditions contained in this letter
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| Darren Yeates | Peabody Energy Australia Coal PTY LTD | |||
| Executive Vice President & COO | by: Ferdinand Kruger, VP - Operations HR |
