EnLink believes in rewarding employees and officers for strong execution that drives business results.

The compensation of our executives is determined and approved by our Governance and Compensation Committee, which includes independent directors, and the overall EnLink Board of Directors (Board). This determination includes an analysis of:

  • The compensation practices of other companies in our industry;
  • The competitive market for executive talent;
  • The evolving demands of the business;
  • The specific challenges that we may face; and
  • Individual and group contributions made by our executives to EnLink

Overall, compensation is targeted at the market median (50th percentile) for each executive role. Our executive compensation program is grounded in a pay-for-performance philosophy, which drives individual performance and rewards contributions in support of our business strategies and achievements. Variable compensation in the form of short- and long-term incentives directly tied to the performance of the company constitutes roughly 80% of the total compensation paid to our leadership team.

Long-Term Incentives

EnLink’s long-term incentives, issued in the form of restricted unit awards, comprise 60% of our executive’s total compensation. These restricted units are subject to a three-year cliff vesting schedule and are typically awarded as 50% time-based awards and 50% performance-based stock awards. Performance-based awards are based on two key variables: EnLink’s achievement of unit price performance (total shareholder return) relative to a defined peer group approved by the Board and cash flow performance goals.

Long-term incentives to our executive officers foster a strong culture of ownership, aligning the interests of our leaders with those of our stakeholders. On December 31, 2022, our executive team leaders who have been in executive leadership positions for more than two years held approximately two times¹ the most commonly reported level of stock unit ownership for executive officers other than the CEO at S&P 100 companies².

Short-Term Incentives (Annual Bonus)

EnLink’s 2022 Short-Term Incentive Program, which is approved by the Board, rewards all EnLink employees for achievement of key metrics directly tied to our strategic initiatives. This bonus program primarily measures our ability to maximize financial performance with additional focus on operational efficiencies, management of capital projects, and an ongoing, proactive commitment to safety and sustainability in all aspects of our business.

The components included in our bonus program are key to driving our success. Tying the compensation of our leaders and employees directly to these targets motivates our teams to focus on delivering results in a way that is consistent with EnLink’s values.

  1. Common unit ownership for our executive leadership team excludes Walter Pinto who was appointed Executive Vice President & COO effective November 1, 2022, and Jesse Arenivas who was appointed Chief Executive Officer effective June 20, 2022.
  2. As reported in the Willis Towers Watson’s study of executive stock ownership guidelines at S&P 100 companies, published November 2022; https://www.wtwco.com/en-CA/Insights/2022/11/2022-11-Stock-ownership-guidelines-retention-requirements-SP-100

The information and data (collectively, “Information”) provided in EnLink’s 2022 Sustainability Report (“Report”) reflects content as of and for the period ending December 31, 2022, unless otherwise indicated. Such Information in this Report is for informational purposes only. EnLink does not make, and hereby expressly disclaims, any representation or warranty as to the accuracy or completeness of the Information contained herein. This Report is being published on August 1, 2023, and EnLink has no obligation or duty to (1) update or correct the Information, (2) provide additional details regarding the Information, or (3) continue to provide the Information, in any form, in the future. EnLink reserves the right, in its sole discretion, to modify, update, change, delete, or supplement the Information from time to time without notice. The Information should not be interpreted as any form of guaranty or assurance of future results or trends. EnLink is not expressly incorporating by reference any of the Information into any filing of EnLink made with the United States Securities and Exchange Commission or in any other filing, report, application, or statement made by EnLink to any federal, state, or local governmental authority. This Report contains information based upon EnLink’s role in the broader economy, environment, and society and for the purpose of responding to issues that are important to a wide range of interested parties. While events, scenarios, and efforts discussed in this report may be significant, any significance should not be read as necessarily rising to the level of materiality of the disclosures required under U.S. federal securities laws, which have distinct and specific concepts of materiality.