On April 9, 2021, J. Carney Hawks and Craig Snyder were appointed to the Board of Directors (the “Board”) of Ferrellgas, Inc., the general partner of Ferrellgas Partners, L.P. and Ferrellgas, L.P. (the “General Partner”), as independent directors, effective immediately. The appointment of Mr. Hawks was made in accordance with the terms of the Sixth Amended and Restated Agreement of Limited Partnership of Ferrellgas Partners, L.P. dated as of March 30, 2021, the General Partner’s bylaws, as amended and restated on the Effective Date, and a voting agreement dated as of the Effective Date (the “Class B Director Voting Agreement”) among the General Partner, Ferrell Companies, Inc. (“FCI”), the sole stockholder of the General Partner, and the holders of Class B Units of Ferrellgas Partners, pursuant to which holders of such Class B Units are permitted to designate one independent director to the Board. The appointment of Mr. Snyder was made in accordance with the terms of the Fifth Amended and Restated Agreement of Limited Partnership of Ferrellgas, L.P. dated as of the Effective Date, as amended by the First Amendment thereto dated as of the Effective Date, the General Partner’s bylaws and a voting agreement dated as of the Effective Date (the “Preferred Director Voting Agreement”) among the General Partner, FCI and the purchasers of Senior Preferred Units (the “Senior Preferred Units”) issued by the operating partnership on the Effective Date, pursuant to which holders of the Senior Preferred Units are permitted, subject to certain conditions, to designate one independent director to the Board.
Ferrellgas Partners, L.P. is a holding company. The Company is primarily engaged in the retail distribution of propane and related equipment sales, through its subsidiaries, Ferrellgas Partners Finance Corp. and Ferrellgas, L.P. (operating partnership). Its operations primarily include the distribution and sale of propane and related equipment and supplies in approximately 50 states, the District of Columbia and Puerto Rico. The Company serves residential, industrial/commercial, portable tank exchange, agricultural, wholesale and other customers. The Company delivers propane to its industrial/commercial and portable tank exchange customers using its fleet of portable tank and portable tank exchange delivery trucks, truck tractors and portable tank exchange delivery trailers.