Company: PED
Filing Date: 2025-01-28
Form Type: 8-K
Source: 0001654954-25-000826
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Company: PEDEVCO CORP
Filing Date: 2025-01-28
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 Awards

On January 23, 2025, PEDEVCO Corp. (the “ Company”, “ we” and “ us”) 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 2024 year annual compensation review, an aggregate of 1,844,118 shares of restricted Company common stock and options to purchase an aggregate of 464,000 shares of restricted Company common stock under the Company’s 2021 Equity Incentive Plan, as amended to date (the “ 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)      190,000 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 ten (10) month anniversary of the January 23, 2025 gr...  
  (B)      350,000 shares to Dr. Simon G. Kukes, the Executive Chairman of the Company, all of which are subject to the Vesting Terms, subject to Dr. Kukes’ continued service to the Company on such vestin...  
  (C)      500,000 shares to Mr. J. Douglas Schick, the President and Chief Executive Officer of the Company, all of which are subject to the Vesting Terms, subject to Mr. Schick’s continued service to th...  
  (D)      350,000 shares to Mr. Clark R. Moore, the Executive Vice President, General Counsel and Secretary of the Company, all of which are subject to the Vesting Terms, subject to Mr. Moore’s continued...  
  (F)      294,118 shares to Mr. Jody Crook, the Chief Commercial Officer of the Company, all of which are subject to the Vesting Terms, subject to Mr. Crook’s continued service to the Company on such ves...  
  (G)      160,000 shares to certain other non-executive employees of the Company, all of which are subject to the Vesting Terms