M&A: PEABODY ENERGY CORP

Form Type: 8-K

Filing Date: 2024-12-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000119312524286862

Comments: On December 27, 2024, Peabody Energy Corporation filed a Form 8-K to announce an Amendment and Restatement of the Contract of Employment with Darren R. Yeates, the Executive Vice President and Chief Operating Officer. This agreement replaces the prior contract dated October 22, 2020. The new agreement is set to expire on January 31, 2027, unless mutually extended. Mr. Yeates will maintain his responsibilities until either the acquisition of certain Australian mines from Anglo American plc is finalized or October 31, 2025. Post this date, the company may alter his job responsibilities regarding Global Sales and Marketing and Global Supply Chain Management. Compensation details include an annual base salary along with short-term and long-term incentive opportunities. In the event of a qualifying termination or expiration of the agreement, Mr. Yeates is entitled to a lump sum payment based on 1.5 times his salary and bonuses, which may increase to 2 times following a Change in Control. This agreement is referenced and detailed in Exhibit 10.1 attached to the filing.

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