Company: PED
Filing Date: 2025-07-08
Form Type: 8-K
Source: 0001654954-25-007857
Chunk: 1

Company: PEDEVCO CORP
Filing Date: 2025-07-08
Form: 8-K
Item: Item 5.02
Chunk 1
---
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d)Appointment of John K. Howie as a member of the Board of Directors

On July 7, 2025, the Board of Directors of the Company, pursuant to the power provided to the Board of Directors by the Company’s Bylaws, as amended, increased the size of the Board of Directors to five (5) members and appointed Mr. John K. Howie as a member of the Board of Directors to fill the one (1) newly created vacancy on the Board of Directors, effective July 7, 2025. The Board of Directors also affirmatively determined that Mr. Howie was “ independent” as defined in Section 803(A) of the NYSE American Company Guide and pursuant to Rule 10A-3(b)(1) under the Securities Exchange Act of 1934, as amended, and appointed Mr. Howie to the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee of the Board of Directors.

Mr. Howie is not a party to any material plan, contract or arrangement (whether or not written) with the Company and there are no arrangements or understandings between Mr. Howie and any other person pursuant to which he was selected to serve as a director of the Company, nor is he a participant in any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K, except in connection with the grant of restricted stock discussed below and the indemnification agreement discussed below.

The Company has entered into its standard form of Indemnification Agreement (the “ Indemnification Agreement”) with Mr. Howie in connection with his appointment to the Board of Directors. The Indemnification Agreement provides, among other things, that the Company will indemnify Mr. Howie under the circumstances and to the extent provided for therein, for certain expenses he may be required to pay in connection with certain claims to which he may be made a party by reason of his position as an officer of the Company, and otherwise to the fullest extent permitted under Texas law and the Company’s governing documents. The foregoing is only a brief description of the Indemnification Agreement, does not purport to be complete, and is qualified in its entirety by the Company’s standard form of indemnification agreement incorporated by reference herein asExhibit 10.4. The Indemnification Agreement is