Company: PED
Filing Date: 2025-07-11
Form Type: DEF 14A
Source: 0001654954-25-007979
Chunk: 37

Company: PEDEVCO CORP
Filing Date: 2025-07-11
Form: DEF 14A
Chunk 37
---
 |                           | - |     |                        | - |     |                                                             | 250,000 | -3 |     | $                                                                    | 194,500 |

| (1)    | Stock award vested on January 25, 2025, and was subject to the holder remaining an employee of or consultant to the Company on such vesting dates.                                                                                                                                                         |
| (2)    | Stock award vests 50% on January 23, 2025 (vested), and January 23, 2026, subject to the holder remaining an employee of or consultant to the Company on such vesting dates.                                                                                                                               |
| (3)    | Stock award vests 33.3% on January 26, 2025 (vested), 33.3% on January 26, 2026, and 33.4% on January 26, 2027, subject to the holder remaining an employee of or consultant to the Company on such vesting dates.                                                                                         |
| (4)(5) | There were no unearned shares, units or other rights that have not vested as of December 31, 2024.Calculated by multiplying the closing market price of the Company’s common stock at the end of the last completed fiscal year (December 31, 2024 and $0.778 per share) by the number of shares of stock. |

| 23 |

Issuances of Equity to Executive Officers, Directors and Greater than 5% Stockholders

On January 23, 2023, the Company issued, after recommendation by the Compensation Committee of the Company’s Board of Directors and approval by the Board of Directors, and in connection with the Company’s 2022 year annual compensation review, an aggregate of 1,250,000 shares of restricted Company common stock and options to purchase an aggregate of 540,000 shares of restricted Company common stock under the Company’s Plan, in consideration for services rendered, and to be rendered, by various officers and employees of the Company. The Plan has been registered on a Form S-8 Registration Statement previously filed by the Company.

Included as part of the issuances was the issuance of:

| (A) | 200,000 shares to Mr. Paul Pinkston, the Company’s Chief Accounting Officer, which shares vest at the rate of (i) 1/3 of such shares on the one (1) year anniversary of the January 23, 2023 grant date (the “Grant