Company: PED
Filing Date: 2025-08-29
Form Type: 8-K
Source: 0001654954-25-010215
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Company: PEDEVCO CORP
Filing Date: 2025-08-29
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Restricted Stock and Option Awards

On August 28, 2025, PEDEVCO Corp. (the “ Company”, “we” and “us”) granted (i) 200,000 shares of restricted Company common stock under the Company’s 2021 Equity Incentive Plan (the “ Plan”) to Mr. John Scelfo, a member of the Board of Directors, which shares vest on July 12, 2026, (ii) 200,000 shares of restricted Company common stock under the Plan to Dr. Simon G. Kukes, our Chairman, which shares vest on January 1, 2026, and (iii) 140,000 shares of restricted Company common stock under the Plan to Mr. H. Douglas Evans, a member of the Board of Directors, which shares vest on September 27, 2026, in each case subject to the recipient of the shares being a member of the Company’s Board of Directors on such vesting date, 100% vesting acceleration if the member is removed from the Board of Directors in connection with a Change of Control (as defined in the Plan), and further subject to the terms and conditions of a Restricted Shares Grant Agreement entered into by and between the Company and each recipient. These restricted stock awards were issued and granted in consideration for Messrs. Scelfo, and Evans and Dr. Kukes, serving as non-employee directors of the Company.

The foregoing description of the Restricted Shares Grant Agreements set forth herein does not purport to be complete and is qualified in its entirety by reference to the full text thereof. A copy of the form of Restricted Shares Grant Agreement for the awards granted on August 29, 2024, is attached asExhibit 99.3to the Company’s Registration Statement on Form S-8 filed with the U. S. Securities and Exchange Commission (“ SEC”) on September 1, 2021 and is incorporated by reference into thisItem 5.02.