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Star Group raises CEO salary to $750,000

Star Group, L.P. reported that, effective August 1, 2026, the Board of Directors of Kestrel Heat, LLC, its general partner, approved a base salary increase for President and Chief Executive Officer Jeffrey M. Woosnam from $531,742 to $750,000 per year.

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Star Group, L.P. reported that, effective August 1, 2026, the Board of Directors of Kestrel Heat, LLC, its general partner, approved a base salary increase for President and Chief Executive Officer Jeffrey M. Woosnam from $531,742 to $750,000 per year.

The Board, acting in its capacity overseeing executive compensation, approved this change in executive session without Mr. Woosnam’s presence or participation. The increase is described as aligning his compensation with market-competitive levels and reflecting his continued leadership and performance in executing the partnership’s strategic objectives.

Positive

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Negative

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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.
Prior CEO base salary $531,742 per annum Base salary for President and CEO Jeffrey M. Woosnam before the increase
New CEO base salary $750,000 per annum Approved base salary for Jeffrey M. Woosnam effective August 1, 2026
Effective date of salary change August 1, 2026 Date on which the CEO’s increased base salary becomes effective
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
executive session regulatory
"The Board approved this action in executive session without the presence"
general partner financial
"Kestrel Heat, LLC, the general partner of Star Group, L.P."
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
executive compensation financial
"acts in the capacity of a compensation committee to review and establish the executive compensation"
Payments and benefits given to a company's top leaders — including base salary, cash bonuses, stock awards, options and retirement or perquisites — designed to compensate and motivate them. Investors care because these packages affect a company’s costs, influence executives’ decisions and signal how well management’s interests line up with shareholders’; like a captain’s contract, the structure of pay can encourage safe navigation toward long-term gains or risky short-term moves that hurt returns.

FAQ

What executive pay change did Star Group (SGU) disclose?
Star Group disclosed that CEO Jeffrey M. Woosnam’s base salary will increase from $531,742 to $750,000 per year. The change reflects market-competitive compensation and recognition of his leadership and performance in advancing the partnership’s strategic objectives.

When does the new CEO salary at Star Group (SGU) take effect?
The new base salary for CEO Jeffrey M. Woosnam becomes effective on August 1, 2026. This effective date was approved by the Board of Directors of Kestrel Heat, LLC, Star Group’s general partner, acting in its executive compensation oversight role.

Who approved the CEO salary increase at Star Group (SGU)?
The Board of Directors of Kestrel Heat, LLC, the general partner of Star Group, approved the salary increase. The Board acted in executive session and functions as the body that reviews and establishes executive compensation for the partnership’s executive officers.

Was CEO Jeffrey M. Woosnam involved in approving his own raise at Star Group (SGU)?
No. The Board approved the salary increase in an executive session held without Mr. Woosnam’s presence or participation. This approach is described as part of the Board’s process for reviewing and establishing executive compensation for senior leadership.

Why did Star Group (SGU) increase its CEO’s salary?
The Board stated it raised Jeffrey M. Woosnam’s salary to align his compensation with market competitive levels and to reflect his continued leadership and performance in executing Star Group’s strategic objectives as President and Chief Executive Officer.

Which entity serves as general partner for Star Group (SGU)?
Kestrel Heat, LLC serves as the general partner of Star Group, L.P. Its Board of Directors acts as the body that reviews and sets executive compensation, including the recently approved salary increase for President and Chief Executive Officer Jeffrey M. Woosnam.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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) July 16, 2026

STAR GROUP, L.P.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

Delaware

 

001-14129

 

06-1437793

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

9 West Broad Street Suite 310, Stamford, CT 06902

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (203) 328-7310

Not Applicable

(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 (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Units

 

SGU

 

New York Stock Exchange

Common Unit Purchase Rights

 

N/A

 

New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Effective August 1, 2026, the Board of Directors (the “Board”) of Kestrel Heat, LLC, the general partner of Star Group, L.P. (the “Company”), which acts in the capacity of a compensation committee to review and establish the executive compensation of the Company’s executive officers, approved of a salary increase for the President and Chief Executive Officer and Director Kestrel Heat, LLC, Jeffrey M. Woosnam from $531,742 to $750,000 per annum. The Board approved this action in executive session without the presence or participation of Mr. Woosnam. The Board approved this increase to align Mr. Woosnam’s compensation with market competitive levels and to reflect his continued leadership and performance in executing the Company’s strategic objectives.

 

 

Item 9.01

Financial Statements and Exhibits.

Exhibit 104

Cover Page Interactive Data File (embedded within the inline XBRL document).

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

STAR GROUP, L.P.

By: Kestrel Heat, LLC (General Partner)

By:

/s/ Richard F. Ambury

Name:

Richard F. Ambury

Title:

Chief Financial Officer

 

Date: July 17, 2026

 

 

Source: View Original Filing on SEC EDGAR

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