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PDH > SEC Filings for PDH > Form 8-K on 30-Apr-2013All Recent SEC Filings

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Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 26, 2013, the board of directors (the "Board") of PetroLogistics GP LLC (the "General Partner"), the general partner of PetroLogistics LP (the "Partnership"), elected Hallie A. Vanderhider to serve as a member of the Board. Ms. Vanderhider was also elected to serve as a member of the Audit Committee of the Board and takes the place of Andrew S. Weinberg, who is and will remain a member of the Board. As a result of Ms. Vanderhider's appointment, the size of the Board increased to eleven members; the size of the Audit Committee remains at three members.

In connection with her election to the Board, Ms. Vanderhider was granted an award under the Partnership's long-term incentive plan of a number of phantom units equaling $100,000 divided by the closing price of the Partnership's common units on the New York Stock Exchange on May 9, 2013 ("Phantom Units"). The Phantom Units will vest on May 9, 2014. Ms. Vanderhider will also receive a $50,000 annual retainer for her service on the Board. In addition, Ms. Vanderhider will be reimbursed for certain expenses associated with her attendance of Board meetings.

There are no understandings or arrangements between Ms. Vanderhider and any other person pursuant to which Ms. Vanderhider was elected to serve as a member of the Board. Ms. Vanderhider has had no direct or indirect interest in any transaction or series of similar transactions contemplated by Item 404(a) of Regulation S-K.

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