UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 5, 2009
Hiland Partners, LP
(Exact name of registrant as specified in its charter)
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| DELAWARE
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000-51120
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71-0972724 |
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(Commission File Number)
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(IRS Employer Identification |
| incorporation)
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No.) |
205 West Maple, Suite 1100
Enid, Oklahoma 73701
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (580) 242-6040
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02.
Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers; Compensatory
Arrangements of Certain Officers.
Increase in Base Salary of Joseph L. Griffin, Matthew S. Harrison and Kent C. Christopherson
On March 5, 2009, the compensation committee of the board of directors of the general partner
of Hiland Partners, LP increased the annual base salary of Joseph L. Griffin, the Chief Executive
Officer, President and Director of both the general partner of Hiland Partners, LP and the general
partner of Hiland Holdings GP, LP from $290,000 per year to $340,000 per year, increased the annual
base salary of Matthew S. Harrison, the Chief Financial Officer, Vice President-Finance, Secretary
and Director of both the general partner of Hiland Partners, LP and the general partner of Hiland
Holdings GP, LP from $200,000 per year to $230,000 per year and increased the annual base salary of
Kent C. Christopherson, the Vice President-Chief Operations Officer of both the general partner of
Hiland Partners, LP and the general partner of Hiland Holdings GP, LP from $205,000 per year to
$215,000 per year.
The general partner of Hiland Holdings GP, LP allocates a portion of the cost of the annual
salaries of Messrs. Griffin and Harrison to Hiland Holdings GP, LP based on the percentage of their
time allocated to Hiland Holdings GP, LP’s business and allocates the remainder to Hiland Partners,
LP. Currently, approximately 5% of Messrs. Griffin and
Harrison’s salaries are allocated to the business
of Hiland Holdings GP, LP.
Determination of 2009 Incentive Cash Bonuses
On March 5, 2009, the compensation committee of the board of directors of the general partner
of Hiland Partners, LP approved the 2009 Incentive Cash Bonus of $175,000 to Joseph L. Griffin, the
Chief Executive Officer, President and Director of both the general partner of Hiland Partners, LP
and the general partner of Hiland Holdings GP, LP, approved the 2009 Incentive Cash Bonus of
$100,000 to Matthew S. Harrison, the Chief Financial Officer, Vice President-Finance, Secretary and
Director of both the general partner of Hiland Partners, LP and the general partner of Hiland
Holdings GP, LP, approved the 2009 Incentive Cash Bonus of $25,000 to Kent C. Christopherson, the
Vice President-Chief Operations Officer of both the general partner of Hiland Partners, LP and the
general partner of Hiland Holdings GP, LP. and approved the 2009 Incentive Cash Bonus of $75,000 to
Robert W. Shain, the Vice President-Chief Commercial Officer of both the general partner of Hiland
Partners, LP and the general partner of Hiland Holdings GP, LP.
For a description of the Incentive Cash Bonuses and how the compensation committee determines
the amounts of the Incentive Cash Bonuses, please read “Item 11. Executive Compensation” of Hiland
Partners, LP’s Annual Report on Form 10-K for the year ended December 31, 2008.