SEC Filings

Expand Energy Hires Sarah Grose As Chief Accounting Officer, Ending CFO's Interim Stint

Grose gets a $325,000 base salary and a 50% cash bonus target as the finance chief hands off accounting duties he held temporarily.

Expand Energy named Sarah Grose its Vice President – Chief Accounting Officer on October 8, according to an 8-K filing made public Tuesday. She takes over principal accounting officer duties effective immediately, replacing CFO Marcel Teunissen, who had held them on an interim basis.

What the 8-K says

The filing, made under Item 5.02, which covers officer appointments and pay, says Grose assumes the principal accounting role at once. Marcel Teunissen, Expand Energy's Executive Vice President and Chief Financial Officer, had been performing those duties temporarily until now.

Grose is 40 and joined the company in 2019. The filing says she has held accounting leadership roles of increasing responsibility, most recently as Director – Corporate Accounting from 2021 to 2026.

She holds a B.B.A. in Accounting and Finance and an M.S. in Accounting from the University of Oklahoma, and she is a certified public accountant.

Pay and terms

Her annual base salary will be $325,000. Her annual cash bonus target is 50% of base salary, earned on performance goals set by the Board or its Compensation Committee, and prorated for 2026.

She will also join the company's 2021 Long-Term Incentive Program, with an annual target of $500,000.

The filing says no arrangement or understanding with any other person led to her appointment. It also says she has no family ties to any director or executive officer and no material interest in a transaction requiring disclosure under Item 404(a) of Regulation S-K.

What it changes

The principal accounting officer role now sits with a dedicated executive rather than the CFO, who no longer carries it on top of his own job. The promotion comes from inside the company.

In Tuesday after-hours trading, Expand Energy shares were at $92.50, up 0.14% from the $92.37 regular close. That reading was taken before the filing became public.

The filing was signed October 13 by Chris Lacy, Executive Vice President, General Counsel and Corporate Secretary, five days after the appointment date.