UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On March 23, 2020, 160,000 shares of common stock of Targa Resources Corp. (the “Company”), par value $0.001 per share (“common stock”), owned by Rene R. Joyce, a director of the Company, were sold pursuant to an involuntary margin call effected by Mr. Joyce’s broker. Following the sale, Mr. Joyce continues to beneficially own approximately 906,871 shares of common stock, including previously granted unvested stock-based compensation, 795,642 of which remain pledged. Given the recent volatility in the capital markets, it is possible that additional involuntary sales effected by Mr. Joyce’s broker could occur. No other directors or executive officers of the Company have any common stock pledged against margin loans.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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TARGA RESOURCES CORP. |
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Dated: March 25, 2020 |
By: |
/s/ Jennifer R. Kneale |
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Jennifer R. Kneale |
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Chief Financial Officer |