Star Group, L.P. Approves CEO Salary Increase to $750K

What Happened
Star Group, L.P. (SGU) filed an 8-K stating that the Board of Directors of Kestrel Heat, LLC (the Company’s general partner), acting as the compensation committee, approved a salary increase for President, CEO and Director Jeffrey M. Woosnam. Effective August 1, 2026, Mr. Woosnam’s annual base salary will increase from $531,742 to $750,000. The Board approved the increase in executive session without Mr. Woosnam’s presence or participation and said the change was to align pay with market-competitive levels and reflect his leadership and performance.

Key Details

• Approved effective date: August 1, 2026.
• New annual base salary: $750,000 (previous: $531,742).
• Increase amount: $218,258 per year.
• Approval by Kestrel Heat, LLC’s board acting as compensation committee; approved in executive session without the CEO’s participation.

Why It Matters
This is a material change to executive compensation disclosed by the company’s general partner. The raise increases annual cash compensation expense for the CEO by $218,258 and signals the board’s support for the CEO’s role in executing the company’s strategy. Investors should note this governance-level decision and monitor future filings for any additional compensation items (bonuses, equity awards) or related disclosures.