Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On June 4, 2021, Huntsman Corporation (the "Company") announced that Phil
Lister, 48, has been appointed Executive Vice President and Chief Financial
Officer, to be effective on July 1, 2021. Mr. Lister has spent his entire career
with the Company or its predecessors, starting in the polyurethanes division of
Imperial Chemical Industries, which Huntsman acquired in 1999. He has served in
various roles, most recently as Vice President, Corporate Development, and prior
to that as Vice President, Global Finance and Strategic Planning for the
polyurethanes division. Mr. Lister holds a bachelor's degree in Business and
German from the University of Birmingham, U.K., and is a member of the Chartered
Institute of Management Accountants.
There was no arrangement or understanding between Mr. Lister and any other
person pursuant to which Mr. Lister was appointed Executive Vice President and
Chief Financial Officer of the Company. There are no transactions in which
Mr. Lister has an interest requiring disclosure under Item 404(a) of Regulation
S-K. The Board of Directors of the Company approved an initial equity award to
Mr. Lister to be valued at $610,000, 50% of which will be granted in restricted
stock and 50% of which will be granted in performance share units. The award
will be valued based on the closing price of the Company's common stock on
July 1, 2021, will be awarded upon the effectiveness of Mr. Lister's appointment
and will vest in three equal annual installments beginning on the first
anniversary of the date of grant.
As Executive Vice President and Chief Financial Officer, Mr. Lister will receive
salary, cash performance awards and stock-based equity compensation and will be
eligible to participate in the Company's benefit plans and receive payments and
benefits upon certain severance events through the Company's Executive Severance
Plan. A description of the Executive Severance Plan is contained in the
Company's Definitive Proxy Statement filed with the Securities and Exchange
Commission on March 18, 2021.
A press release announcing Mr. Lister's appointment is attached to this report
as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
The following exhibit is furnished as part of this Current Report on Form 8-K.
(d) Exhibits
Number Description of Exhibits
99.1 Press Release dated June 4, 2021.
104 Cover Page Interactive Data File (formatted in Inline XBRL and
contained in Exhibit 101)
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