UNITED STATES
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CURRENT REPORT
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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 7, 2024, UGI Corporation (the “Company”) announced that Robert F. Beard intends to retire from his position as Chief Operations Officer of the Company on December 31, 2024. Mr. Beard’s decision to retire is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. The Company has elected to eliminate the executive position of Chief Operations Officer and Mr. Beard’s responsibilities will be assumed by other officers at the Company. Mr. Beard intends to act as an advisor to the Company following his retirement.
In connection with his departure and the elimination of the Chief Operations Officer position, Mr. Beard’s departure was treated as an involuntary termination for purposes of the Company’s Executive Severance Plan (the “Severance Plan”), a copy of which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 5, 2021. Mr. Beard is entitled to receive severance benefits set forth in the Severance Plan in exchange for timely executing and not revoking a general release of claims in favor of the Company.