Form 8-K · Current report
ConocoPhillips 8-K, filed Aug 11, 2026
- Filed
- CIK
- 0001163165
- Accession no.
- 0001104659-26-094062
Summary
ConocoPhillips' board elected Andy O'Brien, currently executive vice president of Strategy, Commercial and chief financial officer, as president and CEO and a board member effective September 1, 2026, with Ryan Lance retiring as president and CEO and becoming executive chair in a transitional role. Konnie Haynes-Welsh was appointed senior vice president and chief financial officer, and Greig Patterson vice president, Finance and Controller, effective the same date.
Key points
- O'Brien will receive a base salary of $1.7 million, a Variable Cash Incentive Plan target of 160% of base salary, and a long-term incentive target of $13.08 million.
- Lance's base salary as executive chair will be reduced to $1.1 million, he will keep long-term incentive participation but drop out of the annual Variable Cash Incentive Plan, and his 2027 long-term incentive target will be $12.4 million.
- Haynes-Welsh's annual base salary will be $742,972, with VCIP, restricted stock unit, and performance share targets of 83%, 110%, and 205% of base salary.
- Kirk L. Johnson will receive a restricted stock unit award with a $5 million target value vesting on the fifth anniversary of grant, and Nicholas G. Olds one with a $3 million target value vesting on the third anniversary.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
- 9.01Financial Statements and Exhibits
From the filing
Item 5.02 Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On August 6, 2026, the Board of Directors (the “Board”) of ConocoPhillips (the “Company”) elected Andrew (Andy) M. O’Brien, the Company’s current Executive Vice President, Strategy, Commercial and Chief Financial Officer, as the Company’s President and Chief Executive Officer and member of the Board, effective September 1, 2026. At such time, the Company’s current Chairman, President and Chief Executive Officer, Ryan M. Lance, will retire as President and Chief Executive Officer and become Executive Chair of the Board. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.