secwatch.observer — SEC 8-K summary
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Issuer:     VALERO ENERGY CORP/TX (VLO)
CIK:        0001035002
Form:       8-K
Filed at:   2023-05-12T23:59:59+00:00
Accession:  0001193125-23-142878
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valero CEO Gorder to retire, Riggs promoted to CEO effective June 30, 2023
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- CEO Joseph W. Gorder retires effective June 30, 2023, becomes Executive Chairman.
- President/COO R. Lane Riggs promoted to CEO and President; joins Board of Directors.
- Riggs gets $1.425M salary, 160% bonus target for H2 2023, 700% LTI target.
- Transitional LTI grant of $2,031,250 in 50% restricted shares and 50% performance shares to Riggs.
- Director Philip J. Pfeiffer retired May 9, 2023; all directors re-elected at annual meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035002/000119312523142878/0001193125-23-142878-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035002/000119312523142878/d476944d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-142878

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer