Canada

2 Kinder Morgan Canada executives each get $1.5M bonus as part of Trans Mountain deal

A pair of executives at Kinder Morgan Canada have each been awarded $1.5-million retention bonuses in connection with the sale of the Trans Mountain pipeline to the Canadian government.

Awarding of the bonuses came one day before the public announcement by Finance Minister Bill Morneau that the government was buying the Trans Mountain pipeline and related infrastructure. (CBC)

A pair of executives at Kinder Morgan Canada have each been awarded $1.5-million retention bonuses in connection with the $4.5-billion sale of the Trans Mountain pipeline to the Canadian government.

The company's board of directors approved the bonuses, which will be paid to Ian Anderson, president of the company, and David Safari, who is vice-president of the Trans Mountain Pipeline system and expansion project.

The information is contained in a regulatory document filed with the U.S. Securities and Exchange Commission. The report is dated May 28.

It was filed on June 1 and is signed by Kinder Morgan Canada Ltd.'s chief financial officer, Dax Sanders.

The document states that the retention bonus for Anderson and Safari "will be payable in equal parts on July 2019 and July 2020, provided that the applicable officer remains employed" by the company through those dates.

The company says the arrangements are "consistent with industry practice" for the size of the project and transaction.

Anderson has been with Kinder Morgan and its Canadian predecessors for more than 38 years. He became president of the Kinder Morgan Canada Ltd. in 2017.

Safari joined Kinder Morgan Canada in 2015, after working for Laricina Energy Ltd. and Statoil Canada.

The awarding of the bonuses came one day before the public announcement by federal Finance Minister Bill Morneau that the Canadian government was buying the Trans Mountain pipeline and related infrastructure.

Ottawa stepped in as the Trans Mountain project faced opposition from the B.C. government, environmental activists and some Indigenous groups.

With files from The Canadian Press

Football news:

Coach of Orenburg Pro 0:1 with Rubin: Morally devastated, could have drawn
Kike Setien: Griezmann played a great match, understood Messi well, scored a great goal. We changed something
Barca President on the Real Madrid match: VAR always favours one team. I have an unpleasant feeling
Faty scored the 9,000 th goal in the history of Barcelona
Griezmann scored in La Liga for the first time since February with a pass from Messi
Suarez came out on the 3rd place in the list of the best Barca Goalscorers in history
Guardiola lost 3 away games in a row in the League for the first time in his career