- New General Counsel/SVP coming on board 8/1/20. He is a veteran of David Barry’s old firm, Kelley Drye & Warren LLP though I’m sure a nationwide search was conducted.
- “On June 30, 2020, the Trust entered into an Indemnification Agreement with each of its Trustees, John R. Norris III and David E. Barry (each, an “Indemnification Agreement”). The Indemnification Agreements are identical in form and each provides that, subject to certain limitations set forth therein, the Trust will indemnify the Trustee to the fullest extent permitted by applicable law, against losses or expenses incurred in relation to the Trustee’s service to the Trust. The indemnification agreements also provide that the Trust will advance expenses, subject to certain limitations, to each Trustee in connection with proceedings covered by the indemnification agreement.” What are we indemnifying ourselves from?
- “Sameer Parasnis, Chief Commercial Officer of the Trust, is no longer employed by the Trust effective June 24, 2020.” Recall that Mr. Parasnis was formerly an energy banker employed by Stifel and Credit Suisse. What happened to cause this separation?
Seems like a big information dump. The optimist in me hopes the conversion isn’t going south but I don’t have a great feeling about this. Tell me I’m wrong!