Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 1638

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 1638
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 Directors

We compensate our Board members with stock-based compensation from time to time, as consideration for their services to the Board. Our executive officers are not paid any consideration for their service to the Board 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  $-  $109,500 H. Douglas Evans $-  $74,460  $-  $74,460 

* The table above does not include the amount of any expense reimbursements paid to the above directors. No directors received any Non-Equity Incentive Plan Compensation or Nonqualified Deferred Compensation. Does not include perquisites and other personal benefits, or property, unless the aggregate amount of such compensation is more than $10,000.

(1)Amounts in this column represent the aggregate grant date fair value of awards computed in accordance with Financial Accounting Standards Board Accounting Standard Codification Topic 718. For additional information on the valuation assumptions with respect to the restricted stock grants, refer to “Part II” - “Item 8. Financial Statements and Supplementary Data” - “Note 12 – Share-Based Compensation”. These amounts do not correspond to the actual value that will be recognized by the named individuals from these awards. As of December 31, 2024, the following outstanding and unvested shares of restricted stock were held by each of the above non-executive directors: John J. Scelfo – 125,000 shares; and H. Douglas Evans – 85,000 shares. (2)Mr. Scelfo and Mr. Evans received grants of 125,000 and 85,000 shares of restricted stock, respectively, on August 29, 2024, with an aggregate grant date fair value of $109,500 and $74,460, respectively, which will vest in full on July 12, 2025 and September 27, 2025, respectively, subject to such person’s continued service on the Board. For the year ended December 31, 2024, there was a compensation expense of $64