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AI brief of an SEC Form 8-K · Targa Resources (TRGP)

Targa Resources names Benjamin Branstetter CFO as Byers retires effective September 1

Neutral Impact 4 of 5 leadership Written later

Targa Resources said its board appointed Benjamin J. Branstetter, currently President of Logistics and Transportation, as Chief Financial Officer effective September 1, 2026, succeeding William A. Byers, who is retiring from the role. The company also named Brent B. Secrest as President of Logistics and Transportation effective the same day, and Byers' separation terms forfeit some of his unvested 2025 and 2026 equity awards.

Key points

  • Branstetter becomes CFO effective September 1, 2026, with a base salary increase to $600,000 and an annual long-term incentive award of 400% of base salary, first applying to the 2027 award.
  • Byers retires as CFO effective September 1, 2026, and stays as a non-executive employee through December 31, 2026.
  • Byers' separation agreement forfeits his 2025 PSU awards and all 2026 RSU and PSU awards, while his 2024 and 2025 RSU and 2024 PSU awards remain outstanding.
  • Brent B. Secrest, formerly Executive Vice President and Chief Commercial Officer at Enterprise Products Holdings LLC until May 2025, takes the President – Logistics and Transportation role effective September 1, 2026.

The filing

CompanyTarga Resources (TRGP)
Form8-K, current report
Filed with the SECAug 25, 2026, 7:00 AM ET
Accession number0001193125-26-364099

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 25, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.