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 23, 2020
TARGA RESOURCES PARTNERS LP
(Exact name of registrant as specified in its charter)
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Delaware |
001-33303 |
65-1295427 |
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(State or other jurisdiction |
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(IRS Employer |
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of incorporation or organization) |
File Number) |
Identification No.) |
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811 Louisiana, Suite 2100 |
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Houston, TX 77002 |
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(Address of principal executive office and Zip Code) |
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(713) 584-1000 |
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(Registrants’ telephone number, including area code) |
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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)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading symbol(s) |
Name of each exchange on which registered |
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9.0% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
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NGLS/PA
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New York Stock Exchange
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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. ☐
On March 23, 2020, 160,000 shares of common stock of Targa Resources Corp. (the “Company”), par value $0.001 per share (“common stock”), owned by Rene R. Joyce, a director of the Company and of the general partner of Targa Resources Partners LP (the “Partnership”), were sold pursuant to an involuntary margin call effected by Mr. Joyce’s broker. Following the sale, Mr. Joyce continues to beneficially own approximately 906,871 shares of common stock, including previously granted unvested stock-based compensation, 795,642 of which remain pledged. Given the recent volatility in the capital markets, it is possible that additional involuntary sales effected by Mr. Joyce’s broker could occur. No other directors or executive officers of the Company or the general partner of the Partnership have any common stock pledged against margin loans.
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 thereunto duly authorized.
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TARGA RESOURCES PARTNERS LP |
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By: Targa Resources GP LLC, |
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its general partner |
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Dated: March 25, 2020 |
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/s/ Jennifer R. Kneale |
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Jennifer R. Kneale |
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Chief Financial Officer |
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