Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On November 11, 2022, Dylan A. Bramhall was appointed as Group Chief Financial
Officer of LE GP, LLC (the "General Partner"), the general partner of Energy
Transfer LP (the "Partnership"), with such appointment effective immediately.
Mr. Bramhall, age 45, has served as the General Partner's Executive Vice
President - Finance and Group Treasurer since October 2020. Since October 2020,
Mr. Bramhall has also served as the Chief Financial Officer of Sunoco LP, the
general partner of which is owned by the Partnership. Mr. Bramhall joined the
Partnership in April 2015 as a result of the merger of Energy Transfer Partners
and Regency Energy Partners, and served as Vice President - Financial Planning
and Analysis and later as Senior Vice President - Finance from 2016 until
October 2020. In his current role, he is responsible for oversight of the
Partnership's financial planning and analysis, credit and commodity risk
management, insurance, cash management, and capital markets groups.
Mr. Bradford D. Whitehurst, the current Chief Financial Officer, will continue
in a senior executive role focusing on tax strategy and corporate initiatives.
Mr. Whitehurst will continue to report directly to the office of the Chief
Executive Officer.
Mr. Bramhall will receive an annual base salary of $575,000 and will be eligible
to participate in the Partnership's Annual Bonus Plan, as amended (the "Bonus
Plan"), at a bonus pool target of 130% of his annual eligible earnings. Actual
bonus payments under the Bonus Plan will be at the discretion of the
Partnership's compensation committee and generally will be based upon the
Partnership's performance as compared to stated objectives and certain other
factors as may be determined from time to time. Mr. Bramhall will also be
eligible for long-term incentive awards under the Partnership's Long-Term
Incentive Plan, as amended (the "LTIP"), at an annual equity pool target of 500%
of his annual base salary. Actual incentive equity awards under the LTIP are at
the discretion of the Partnership's compensation committee and are generally
based on Partnership and individual performance. Mr. Bramhall will also be
eligible to participate in all benefit and retirement plans on the same terms
and conditions as other Partnership executives.
There are no arrangements or understandings between Mr. Bramhall and any other
person pursuant to which he was selected as an officer. There are no existing
relationships between Mr. Bramhall, the General Partner, or the Partnership or
any of their respective subsidiaries that would require disclosure pursuant to
Item 404(a) of Regulation S-K or any familial relationship that would require
disclosure under Item 401(d) of Regulation S-K.
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