Spark Energy Announces Management Changes, Resignation Of VP

Spark Energy, Inc. ("Spark" or the "Company") announced the resignation of Gil Melman, Spark’s Vice President, General Counsel, and Corporate Secretary.

Spark said that Melman is resigning to pursue other opportunities, effective December 31, 2018.

C. Alexis Keene, currently Spark’s Deputy General Counsel, will be Spark’s Interim General Counsel and Corporate Secretary. Spark has begun a process to appoint a permanent successor for Melman.

Spark said in an 8-K that, subject to the terms and conditions of a Transition Agreement, Melman will receive total separation payments in the amount of $525,000 (the 'Separation Payment'), less ordinary withholding for taxes. The Separation Payment will be paid in twenty-six substantially equal bi-weekly installments in accordance with the Company’s normal payroll practices. The Transition Agreement also provides for the accelerated vesting of 103,930 restricted stock units granted to Melman under the Company’s Amended and Restated Long-Term Incentive Plan, subject to the conditions of the Transition Agreement and withholding of shares to satisfy tax obligations.