Company: CRK
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056747
Chunk: 2

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 2
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 Year-End                                                                      | 40 |
| Stock Vested                                                                                                           | 40 |
| Non-qualified Deferred Compensation                                                                                    | 41 |
| Potential Payments upon Termination or Change in Control                                                               | 41 |
| Employment Agreements                                                                                                  | 41 |
| Potential Payments Upon Termination                                                                                    | 41 |
| Involuntary Termination Without Cause or Termination With Good Reason                                                  | 42 |
| Involuntary Termination Following a Change in Control                                                                  | 42 |
| Ratio of Annual Compensation for the CEO to our Median Employee                                                        | 43 |
| Pay Versus Performance                                                                                                 | 44 |
| OTHER BUSINESS                                                                                                         | 47 |
| ADDITIONAL INFORMATION                                                                                                 | 47 |
| Stockholder Proposals and Nominations for the 2026 Annual Meeting                                                      | 47 |
| Electronic Delivery of Proxy Statement and Annual Report                                                               | 47 |
| Householding of Annual Meeting Materials                                                                               | 48 |
| Stockholder List                                                                                                       | 48 |
| APPENDIX                                                                                                               | 49 |
| Appendix A - Proposed Comstock Resources, Inc. 2019 Long-term Incentive Plan, Amended and Restated as of April 7, 2025 | 49 |

Proxy Summary

This summary is included to provide an introduction and overview of the information contained in the proxy statement and may not contain all the information important to you. This is a summary only and does not contain all of the information we have included in the proxy statement. You should refer to the entire proxy statement that follows for more information about Comstock Resources, Inc. ("Comstock" or the "Company", "our", "we", or "us") and the proposals you are being asked to consider.

2024Overview and Performance

Our 2024 accomplishments included the following:

Successfully navigated the 2024 low gas price environment by:

Substantially reducing capital spending in 2024 by releasing two operated rigs and one frac spread;

Suspending quarterly dividend to conserve cash flow;

Increasing hedging program to realize a 20% increase in our 2024 natural gas price and to safeguard 50% of our 2025 and 2026 expected production;

Raising $100.5 million through an equity private placement; and

Enhancing liquidity with $400 million senior notes offering.

More than doubled our Western Haynesville footprint by adding 265,000 net acres at a cost of $401 per acre.

Continued to prove up the Western Haynesville: