SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 10, 2020
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MPLX LP
(Exact name of registrant as specified in its charter)
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| Delaware | | 001-35714 | | 27-0005456
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(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
200 E. Hardin Street, Findlay, Ohio 45840
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (419) 421-2414
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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) |
| ☐ | 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)) |
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| 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 Representing Limited Partnership Interests | MPLX | 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 (§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 ☐
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| 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. |
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 10, 2020, John S. Swearingen, Executive Vice President, Logistics and Storage of the general partner of MPLX LP ("MPLX"), announced his plan to retire effective August 28, 2020, following more than 39 years of service. Upon his retirement, Mr. Swearingen will also retire from all positions he holds with any MPLX affiliate, including Marathon Petroleum Corporation ("MPC"). The company thanks Mr. Swearingen for his many years of loyal service and his contributions to the company's success. Mr. Swearingen's responsibilities will be assumed by existing executives of the general partner of MPLX, Timothy J. Aydt and Gregory S. Floerke.
In connection with his departure, and in exchange for certain waivers and releases for the benefit of MPLX and MPC, Mr. Swearingen will be entitled to a lump sum severance payment in the amount of $929,026. Additionally in connection with his departure, Mr. Swearingen will fully vest in certain of the MPLX and MPC long-term incentive awards he received in 2018, 2019 and 2020, and he will also be entitled to all retirement and welfare benefit plans, policies and arrangements generally applicable to MPLX’s other similarly situated executive officers.
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.
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| | MPLX LP | | |
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| | By: | | MPLX GP LLC, its General Partner |
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| Date: August 10, 2020 | By: | | /s/ Molly R. Benson |
| | | | Name: Molly R. Benson |
| | | | Title: Vice President, Chief Securities, Governance & Compliance Officer and Corporate Secretary |
