Company: PED
Filing Date: 2025-07-11
Form Type: DEF 14A
Source: 0001654954-25-007979
Chunk: 41

Company: PEDEVCO CORP
Filing Date: 2025-07-11
Form: DEF 14A
Chunk 41
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Stock-based compensation expense recorded related to restricted stock during the years ended December 31, 2024 and 2023 was $1,581,000 and $1,621,000, respectively. The remaining amount of unamortized stock-based compensation expense related to restricted stock at December 31, 2024 and 2023 was $807,000 and $819,000, respectively.

On July 7, 2025, the Company granted 150,000 shares of restricted Company common stock under the Plan to Mr. John K. Howie (who was appointed to the Board of Directors on the same date), a non-employee director, which shares vest on July 7, 2026, subject to Mr. Howie continuing to serve as a member of the Company’s Board of Directors on such vesting date, and subject to the terms and conditions of a Restricted Shares Grant Agreement entered into by and between the Company and Mr. Howie. The restricted stock was issued in consideration for Mr. Howie agreeing to serve as an independent non-employee director of the Company.

Options

During the period ended December 31, 2024, 256,667 options were rescinded due to an employee termination. As a result, these options once again became eligible for future awards under the Company’s equity plans.

During the period ended December 31, 2023, 315,333 options expired unexercised.

Compensation of Directors

We compensate our board of directors members with stock-based compensation from time to time, as consideration for their services to the board of directors. Our executive officers are not paid any consideration for their service to the board of directors separate from the consideration they are paid as executive officers of the Company, as shown above.

The following table sets forth compensation information with respect to our non-executive directors during our fiscal year ended December 31, 2024.

| Name             |     | Fees Earned or Paid in Cash ($)* |   |     | Stock Awards ($) (1) (2) |         |     | All Other Compensation ($) |   |     | Total ($) |         |
|:-----------------|:----|:---------------------------------|:--|:----|:-------------------------|--------:|:----|:---------------------------|:--|:----|:----------|--------:|
| John J. Scelfo   |     | $                                | - |     | $                        | 109,500 |     | $