PITTSBURGH--(BUSINESS WIRE)--EQT Corporation (NYSE:EQT) and the Rice Team jointly announced that, based on preliminary voting results at the EQT Annual Meeting today, shareholders have elected all seven Rice Team-nominated directors as well as the five nominees supported by both EQT and the Rice Team. All 12 elected directors received more than 80% of the votes cast at the Annual Meeting.
After voting results are certified by the independent inspector of elections, expected later today, EQT’s reconstituted Board will be comprised of Lydia Beebe, Dr. Philip Behrman, Lee Canaan, Janet Carrig, Dr. Kathryn Jackson, John McCartney, James McManus II, Anita Powers, Daniel Rice IV, Toby Rice, Stephen Thorington, and Hallie Vanderhider.
Following certification, the newly constituted Board will meet later today and is expected to name Toby Z. Rice as President and CEO, succeeding Robert McNally.
Toby Rice said, “We are deeply gratified by the shareholder support for the Rice Team and our plan for EQT. The Company has a world class asset base which provides abundant opportunities for value-creation. Now is the time to put this proxy contest behind us and come together as one team to transform EQT into a technology-enabled, sustainable energy producer. There is a lot of work to be done, and we look forward to rolling up our sleeves and working closely with EQT’s talented employees to execute our plan. We are committed to a smooth transition and to realizing EQT’s full potential to create significant value for shareholders.”
Robert McNally said, “I’d like to thank employees across the organization for their outstanding work and dedication to EQT as well as our directors for their counsel and dedication. EQT is a unique company with terrific assets, and I wish EQT and the Rice Team great success in the future.”
The Board of EQT thanks Rob McNally for his service.
Once certified by the independent inspector of elections, the Company will file voting results with the Securities and Exchange Commission on a Form 8-K.
The preliminary results indicate that shareholders have approved the other proposals considered at the Annual Meeting, including, on an advisory basis, the compensation of EQT’s named executive officers, the 2019 Long-Term Incentive Plan, and Ernst & Young, LLP as EQT’s independent auditor.
About EQT Corporation:
EQT Corporation is a natural gas production company with emphasis in the Appalachian Basin and operations throughout Pennsylvania, West Virginia and Ohio. With 130 years of experience and a longstanding history of good corporate citizenship, EQT is the largest producer of natural gas in the United States. As a leader in the use of advanced horizontal drilling technology, EQT is committed to minimizing the impact of drilling-related activities and reducing its overall environmental footprint. Through safe and responsible operations, EQT is helping to meet our nation’s demand for clean-burning energy, while continuing to provide a rewarding workplace and support for activities that enrich the communities where its employees live and work. Visit EQT Corporation at www.EQT.com; and to learn more about EQT’s sustainability efforts, please visit https://csr.eqt.com.
EQT Management speaks to investors from time to time and the analyst presentation for these discussions, which is updated periodically, is available via the Company’s investor relationship website at ir.eqt.com.
This communication contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this communication specifically include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Company and its subsidiaries. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Company has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently available to the Company. While the Company considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond the Company’s control. The risks and uncertainties that may affect the operations, performance and results of the Company’s business and forward-looking statements include, but are not limited to, those set forth under Item 1A, “Risk Factors,” of the Company’s Form 10-K for the year ended December 31, 2018, as filed with the SEC and as updated by subsequent Form 10-Qs filed by the Company, and those set forth in the other documents the Company files from time to time with the SEC.
Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.