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Get filing alertsValero expands board to 11, elects LPL Financial CFO Matthew Audette as independent director
Filed September 18, 2026 · Period ending September 17, 2026 · ~1 min read
Key Changes
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Board increased to 11 members and elected Matthew Audette, President and CFO of LPL Financial, as an independent director effective immediately, with term expiring at the 2027 annual meeting.
Item 5.02 verify on EDGAR → -
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Audette appointed to the Audit Committee, which oversees financial reporting, internal controls, and the independent auditor.
Item 5.02 verify on EDGAR → -
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Audette received a pro-rata equity grant of 372 stock units vesting in one year and a pro-rata cash retainer of $101,667.
Item 5.02 verify on EDGAR → -
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Non-employee director compensation will increase by $10,000 in both annual cash retainer and equity grant value beginning in 2027.
Item 5.02 verify on EDGAR → -
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Valero furnished a press release announcing Audette's election and related items.
Item 7.01 verify on EDGAR →
Summary
Valero Energy expanded its board from 10 to 11 members and elected Matthew Audette, President and CFO of LPL Financial, as an independent director effective September 17, 2026. Audette will serve on the Audit Committee, bringing over 15 years of public-company CFO experience, including prior roles at E*TRADE Financial and in public accounting. His initial term runs until the 2027 annual meeting, where he is expected to stand for re-election.
As part of the appointment, Audette received a pro-rata equity grant of 372 stock units vesting in one year and a pro-rata cash retainer of $101,667. The board also approved a modest increase of $10,000 to both the annual cash retainer and equity grant components of non-employee director compensation beginning in 2027. The filing contains no red flags or material concerns; the changes are routine governance matters.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Valero expands its board to 11 and elects Matthew Audette as a new director with Audit Committee duties.
Added in current filing · verify on EDGAR →
On September 17, 2026, the board of directors (the “Board”) of Valero Energy Corporation (“Valero”) increased its size to 11 members and elected Matthew Audette as a member of the Board, with an initial term beginning immediately and expiring at Valero’s 2027 annual meeting of stockholders (the “2027 Annual Meeting”).
Valero's board grew from 10 to 11 members and added Matthew Audette as a new director. His initial term runs until the 2027 annual meeting, where he is expected to stand for re-election.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Accordingly, Valero granted Mr. Audette a pro-rata equity grant of 372 stock units upon his election to the Board, which are scheduled to vest in full on the first anniversary of the date of grant, and Mr. Audette is also entitled to receive a pro-rata annual cash retainer in the amount of $101,667.
Mr. Audette received 372 stock units that vest one year after grant, plus a pro-rata cash retainer of $101,667 for his partial-year service. The amounts are prorated from his September 17, 2026 election date to the anticipated 2027 annual meeting.
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
announcing Mr. Audette’s election to the Board and disclosing other items related to the disclosure in Item 5.02 above
Valero issued a press release on September 18, 2026, announcing Mr. Audette's election to the Board. The press release is attached as Exhibit 99.01 and incorporated by reference into Item 7.01. The filing also notes expectations that Mr. Audette will stand for re-election at the 2027 Annual Meeting.
Event · Exhibit 99.01
Added in current filing · view on EDGAR →
Matt Audette has been elected as an independent director to Valero’s board of directors (the “Board”) and has joined the Board’s Audit Committee, effective immediately.
Valero added a new independent director to its board. Matt Audette is the President and CFO of LPL Financial and brings over 15 years of public-company CFO experience. He will also serve on the Audit Committee, which oversees financial reporting and controls.
Added in current filing · view on EDGAR →
Mr. Audette is the President and Chief Financial Officer of LPL Financial Holdings Inc. (NASDAQ: LPLA, “LPL”), a publicly traded company that serves the financial advisor-mediated marketplace as the nation’s largest independent broker-dealer, a leading investment advisory firm, and a top custodian.
The new director currently leads finance, risk, compliance, supervision, and client service operations at LPL Financial. His background includes serving as CFO of E*TRADE Financial and starting his career in public accounting, auditing financial services clients.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 20, 2026 · How we verify