secwatch.observer — SEC 8-K summary
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Issuer:     Coterra Energy Inc. (CTRA)
CIK:        0000858470
Form:       8-K
Filed at:   2022-12-29T23:59:59+00:00
Accession:  0001104659-22-130932
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

On Dec 27, Coterra Energy removed tax gross-up from Dinges change-in-control pact
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- On December 27, 2022, Coterra Energy and Executive Chairman Dan O. Dinges amended his change-in-control and employment agreements.
- The amendment eliminates the excise tax gross-up provision, responding to a proxy advisory firm's recommendation and 2022 shareholder vote.
- As consideration, the severance payment due upon Dinges' termination as Executive Chairman on Dec 31, 2022 will accrue interest at the 6-month Treasury Bill rate until paid around July 24, 2023.
- The change followed a 2022 say-on-pay vote where a proxy advisor recommended against the proposal and subsequent shareholder outreach.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858470/000110465922130932/0001104659-22-130932-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858470/000110465922130932/tm2233532d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-130932

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