EQT Corporation (NYSE: EQT) today announced that it intends to include in its proxy statement for the 2013 annual shareholder meeting a proposal to eliminate the Company’s classified board structure. The recommended proposal, which was approved by the Board of Directors, is subject to shareholder approval at the Company’s 2013 annual meeting.
Currently, the Board of Directors is divided into three classes, each of which is elected for a three-year term. If the proposal receives shareholder approval, declassification of the board will be implemented via a phase-in approach beginning with the 2014 annual meeting. The phase-in will allow each class of directors to complete their existing terms; however, future elections will have a one-year term. Any director serving as an interim appointee will serve until the next annual meeting of shareholders. The full text of the proposal will be included in the Company’s proxy statement to be filed with the Securities and Exchange Commission in March 2013.
About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, transmission, and distribution. EQT is the general partner and majority equity owner of EQT Midstream Partners, LP. With more than 120 years of experience, EQT is a technology-driven leader in the integration of air and horizontal drilling. Through safe and responsible operations, the Company is committed to meeting the country’s growing demand for clean-burning energy, while continuing to provide a rewarding workplace and enrich the communities where its employees live and work. Company shares are traded on the New York Stock Exchange as EQT.
Visit EQT Corporation on the Internet at www.EQT.com.