Peabody Energy (NYSE: BTU) locks in 2027 consulting role and pay for COO
Rhea-AI Filing Summary
Peabody Energy Corporation (BTU) entered into a Consulting Services Agreement with Executive Vice President and Chief Operating Officer Darren R. Yeates, effective after his current employment contract expires. Beginning February 1, 2027, Yeates will provide consulting services through January 31, 2028 for the company and its affiliates.
The agreement provides for up to 40 hours per month of consulting, with a minimum monthly fee of $89,773 and an additional $2,244 per hour for work beyond 40 hours. Peabody may terminate the arrangement at any time; if it does so without cause or upon Yeates’ death or disability, he is entitled to remaining fees for the term, subject to a release of claims.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Consulting term start date: February 1, 2027
Consulting term end date: January 31, 2028
Minimum monthly consulting fee: $89,773 per month
+2 more
5 metrics
Consulting term start date
February 1, 2027
Start of consulting services by Darren R. Yeates
Consulting term end date
January 31, 2028
End of consulting services by Darren R. Yeates
Minimum monthly consulting fee
$89,773 per month
Base consulting compensation for up to 40 hours per month
Standard monthly hours
40 hours per month
Consulting hours covered by minimum monthly fee
Additional hourly fee
$2,244 per hour
Fee for consulting hours above 40 in any month
Key Terms
Consulting Services Agreement, with or without cause, release of claims
3 terms
Consulting Services Agreement financial
"entered into a Consulting Services Agreement with Darren R. Yeates"
with or without cause regulatory
"the Company may terminate the consulting arrangement at any time, with or without cause"
release of claims regulatory
"subject to his execution and non-revocation of a release of claims"
FAQ
What did PEABODY ENERGY CORP (BTU) announce about Darren R. Yeates in this 8-K?
Peabody announced a Consulting Services Agreement with Executive Vice President and COO Darren R. Yeates under which he will provide consulting services from February 1, 2027 to January 31, 2028 following expiration of his current employment contract.
What is Darren R. Yeates’ consulting compensation under the BTU agreement?
Under the Consulting Services Agreement, Darren R. Yeates will receive a minimum monthly consulting fee of $89,773 for up to 40 hours of services per month, plus an additional $2,244 per hour for each hour worked beyond 40 in any month.
How long will the consulting arrangement with Darren R. Yeates at BTU last?
The consulting arrangement runs from February 1, 2027 through January 31, 2028, unless earlier terminated in accordance with the agreement’s terms.
Can Peabody Energy (BTU) terminate the consulting agreement with Darren R. Yeates early?
Yes. Peabody may terminate the consulting arrangement at any time, with or without cause. If terminated without cause, or due to Yeates’ death or disability, he is entitled to unpaid consulting fees for the remainder of the term, subject to a release of claims.
What happens if Darren R. Yeates ends the consulting agreement with BTU early or is terminated for cause?
If the consulting arrangement is terminated for cause or by Darren R. Yeates before January 31, 2028, he will not be entitled to the remaining consulting fees that would otherwise have been payable for the rest of the term.
AI-generated analysis. How Rhea-AI works. Not financial advice.
