Valero promotes Gary K. Simmons to EVP and COO effective July 20, 2023

VALERO ENERGY CORP/TX

Gary K. Simmons promoted from EVP and Chief Commercial Officer to EVP and Chief Operating Officer.
Promotion effective immediately on July 20, 2023; base salary increased to $900,000 annually.
Long-term incentive target raised to 450% of salary for second half of 2023; transitional LTI award of $802,188 granted.
Transitional award split 50% restricted shares and 50% performance shares with three-year ratable vesting.
No changes to bonus target percentage of 100%, applied on blended salary for 2023.

item 5.02 item 9.01

Executive movements

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Role change

Gary K. Simmons

Executive Vice President and Chief Operating Officer

VLO · VALERO ENERGY CORP/TX

Effective: 2023-07-20
Filed: July 21, 2023, 7:59 PM ET

On July 20, 2023, Valero Energy Corporation (“Valero,” or the “Company”) announced that Gary K. Simmons, Valero’s Executive Vice President and Chief Commercial Officer, was promoted and elected by the Board of Directors of Valero (the “Board”) as Executive Vice President and Chief Operating Officer of Valero, effective July 20, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Gary K. Simmons changed role as Executive Vice President and Chief Operating Officer at VALERO ENERGY CORP/TX.

Action: promoted
Role: Executive Vice President and Chief Operating Officer

Exact text from the filing

On July 20, 2023, Valero Energy Corporation (“Valero,” or the “Company”) announced that Gary K. Simmons, Valero’s Executive Vice President and Chief Commercial Officer, was promoted and elected by the Board of Directors of Valero (the “Board”) as Executive Vice President and Chief Operating Officer of Valero, effective July 20, 2023.

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VALERO ENERGY CORP/TX filing history →

Source: SEC EDGAR

accession 0001193125-23-191449

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