United States 12 Month Natural Gas Fund LP
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
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Item 11. Executive Compensation
Compensation to USCF and Other Compensation
UNL does not directly compensate any of the executive officers noted above. The executive officers noted above are compensated by USCF for the work they perform on behalf of UNL and other entities controlled by USCF. UNL does not reimburse USCF for, nor does it set the amount or form of any portion of, the compensation paid to the executive officers by USCF. UNL pays fees to USCF pursuant to the LP Agreement under which it is obligated to pay USCF an annualized fee of 0.75% of average daily total net assets. For 2023, UNL accrued aggregate management fees of $131,022.
Director Compensation
The following table sets forth compensation earned during the year ended December 31, 2023, by the directors of USCF. UNL’s portion of the aggregate fees paid for director’s fees and insurance for the year ended December 31, 2023 was $17,277.
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| · · · · · · Change in · · · | ||||||||||||||
| · · · · · · · · · · Pension Value · · · · · · | ||||||||||||||
| · · Fees · · · · · · · · and · · · · · · | ||||||||||||||
| · · Earned · · · · · · · · Nonqualified · · · · · · | ||||||||||||||
| · · or Paid · · · · · · Non-Equity · · Deferred · · · · · · | ||||||||||||||
| · · in · · Stock · · Option · · Incentive Plan · · Compensation · · All Other · · · | ||||||||||||||
| Name · Cash · Awards · Awards · Compensation · Plan · Compensation · Total | ||||||||||||||
| Management Directors · · · · · · · · · · · | ||||||||||||||
| John P. Love | | $— | | NA | | NA | | NA | | $— | | $— | | $— |
| Stuart P. Crumbaugh | | $— | | NA | | NA | | NA | | $— | | $— | | $— |
| Robert L. Nguyen | | $— | NA | NA | NA | | $— | | $— | | $— | |||
| Kathryn D. Rooney | | $— | | NA | NA | NA | | $— | | $— | | $— | ||
| Independent Directors | | | | | ||||||||||
| Peter M. Robinson | | $3,470 | NA | NA | NA | | $— | | $— | | $3,470 | |||
| Gordon L. Ellis | | $3,470 | NA | NA | NA | | $— | | $— | | $3,470 | |||
| Malcolm R. Fobes III(1) | | $4,164 | NA | NA | NA | | $— | | $— | | $4,164 | |||
| (1) | Mr. Fobes serves as chairman of the audit committee of USCF and receives additional compensation from USCF, in recognition of the additional responsibilities he has undertaken in this role. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.