Form: 8-K

Current report filing

May 22, 2023

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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): May 17, 2023

 

CLEAN ENERGY FUELS CORP.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   001-33480   33-0968580

(State or other jurisdiction

of incorporation) 

 

(Commission

File Number) 

 

(IRS Employer

Identification No.) 

 

4675 MacArthur Court, Suite 800

Newport Beach, CA 

  92660
(Address of Principal Executive Offices)   Zip Code

 

(949) 437-1000

(Registrant’s telephone number, including area code)

 

 

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 stock, $0.0001 par value per share CLNE The Nasdaq Stock Market LLC

 

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

 

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.

 

On May 17, 2023, Lorraine Paskett notified the Board of Directors (the “Board”) of Clean Energy Fuels Corp. (the “Company”) of her resignation from the Board, effective on the same day. Ms. Paskett’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.

 

On May 17, 2023, the Board accepted Mitchell W. Pratt’s resignation from his position as Chief Operating Officer and Corporate Secretary of the Company, effective May 17, 2023. Mr. Pratt transitioned to a new role as the Company’s Chief Technology Development Officer on that date. As a result of this transition, Mr. Pratt is no longer an “executive officer” of the Company for purposes of Rule 3b-7 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or an “officer” of the Company for purposes of Rule 16a-1(f) of the Exchange Act.

 

Also on May 17, 2023, the Board approved, and the Company entered into, an amended and restated employment agreement (the “Employment Agreement”) with Mr. Pratt. The Employment Agreement has a two-year term that automatically renews for successive one-year periods unless earlier terminated in accordance with the provisions therein, provides Mr. Pratt with a $550,000 annual base salary, and is otherwise consistent in all material respects with Mr. Pratt’s previous employment agreement dated December 31, 2015.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

 

On May 18, 2023, the Company held its 2023 annual meeting of stockholders (the “Annual Meeting”). The holders of the Company’s common stock considered and voted on four proposals at the Annual Meeting and cast their votes on each such proposal as set forth below.

 

Proposal 1: The holders of the Company’s common stock elected to the Board the ten director nominees set forth in the proxy statement for the Annual Meeting, each to serve for a one-year term until the Company’s next annual meeting of stockholders and until his or her respective successor is duly elected and qualified or until his or her earlier resignation or removal. However, as described above under Item 5.02, Ms. Paskett resigned from the Board on May 17, 2023 and the director position she held was rendered vacant. The results of the voting on Proposal 1 were as follows:

 

Name of Director   Votes
For
    Votes
Withheld
    Broker
Non-Votes
 
Andrew J. Littlefair     124,346,425       6,578,117       42,658,971  
Stephen A. Scully     125,963,950       4,960,592       42,658,971  
Lizabeth Ardisana     121,980,179       8,944,363       42,658,971  
Karine Boissy-Rousseau     118,917,036       12,007,506       42,658,971  
James C. Miller III     124,964,763       5,959,779       42,658,971  
Lorraine Paskett *     116,949,733       13,974,809       42,658,971  
Kenneth M. Socha     119,523,740       11,400,802       42,658,971  
Vincent C. Taormina     123,445,379       7,479,163       42,658,971  
Parker A. Weil     121,383,037       9,541,505       42,658,971  
Laurent Wolffsheim     118,900,828       12,023,714       42,658,971  

 

*Ms. Paskett resigned from the Board on May 17, 2023.

 

Proposal 2: The holders of the Company’s common stock ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023. The results of the voting on Proposal 2 were as follows:

 

Votes For:     164,613,561  
Votes Against:     7,469,918  
Votes Abstained:     1,500,034  
Broker Non-Votes:      

 

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Proposal 3: The holders of the Company’s common stock approved, on an advisory, non-binding basis, the compensation of the Company’s named executive officers. The results of the voting on Proposal 3 were as follows:

 

Votes For:     117,101,863  
Votes Against:     13,381,027  
Votes Abstained:     441,652  
Broker Non-Votes:     42,658,971  

 

Proposal 4: The holders of the Company’s common stock approved, on an advisory, non-binding basis, one year as the frequency with which stockholders will vote on executive compensation. The results of the voting on Proposal 4 were as follows:

 

One Year:     122,815,191  
Two Years:     351,762  
Three Years:     7,181,438  
Votes Abstained:     576,151  
Broker Non-Votes:      

 

Based on the voting results for Proposal 4, the Company will include an advisory proposal regarding the Company’s named executive officer compensation in its proxy materials every year for each annual meeting of stockholders.

 

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SIGNATURE

 

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

 

Date: May 22, 2023 Clean Energy Fuels Corp.
   
  By:  /s/ Andrew J. Littlefair
    Name: Andrew J. Littlefair
    Title: President and Chief Executive Officer

 

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