Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 530

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 530
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 Committee of the Company’s Board of Directors, the Board of Directors of the Company, in connection with the Company’s annual compensation review, approved calendar year 2024 cash bonuses (paid in January 2025) for (i) Mr. Paul Pinkston, the Company’s Chief Accounting Officer, in the amount of $50,000, (ii) Mr. J. Douglas Schick, the President and CEO of the Company, in the amount of $130,000, (iii) Mr. Clark R. Moore, the Executive Vice President, General Counsel and Secretary of the Company, in the amount of $120,000 and (iv) Mr. Jody Crook, the Chief Commercial Officer of the Company, in the amount of $100,000, which was contingent on Mr. Crook’s acceptance of the Crook Offer Letter noted above.

Equity Incentive Plans

2021 Plan

General. On July 10, 2021, our Board of Directors adopted the PEDEVCO Corp. 2021 Equity Incentive Plan, which was approved by our stockholders on September 1, 2021. The 2021 Equity Incentive Plan provides for awards of incentive stock options, non-statutory stock options, rights to acquire restricted stock, stock appreciation rights, or SARs, and performance units and performance shares. On June 27, 2024, the Board of Directors adopted an amended and restated 2021 Equity Incentive Plan, to increase by 5,000,000 shares, the number of awards available for issuance under the plan, which was approved by stockholders on August 29, 2024. Subject to the provisions of the 2021 Equity Incentive Plan relating to adjustments upon changes in our common stock, an aggregate of 13,000,000 shares of common stock were reserved for issuance under the 2021 Equity Incentive Plan.

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We refer to the 2021 Equity Incentive Plan as the 2021 Plan.

Purpose. Our Board of Directors adopted the 2021 Plan to provide a means by which our employees, directors and consultants may be given an opportunity to benefit from increases in the value of our common stock, to assist in attracting and retaining the services of such persons, to bind the interests of eligible recipients more closely to our interests by offering them opportunities to acquire shares of our common stock and to afford such persons stock-based compensation opportunities that are competitive with those afforded