Company: PED
Filing Date: 2025-07-11
Form Type: DEF 14A
Source: 0001654954-25-007979
Chunk: 49

Company: PEDEVCO CORP
Filing Date: 2025-07-11
Form: DEF 14A
Chunk 49
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 | $                                  | 313,207 |

| (5) | Assumes $100 invested in our common shares on December 31, 2021, and calculated based on the difference between the share price of our common stock at the end and the beginning of the measurement period, and reinvestment of all dividends. No cash dividends were paid in 2024, 2023 or 2022. |

| (6) | The dollar amounts reported represent the amount of net income reflected in our consolidated audited financial statements for the applicable year. |

Relationship Between “ Compensation Actually Paid” and Performance

We generally seek to incentivize long-term performance, and therefore do not specifically align our performance measures with “compensation actually paid” (as computed in accordance with the Pay Versus Performance Rules) for a particular year. In accordance with the Pay Versus Performance Rules, we are providing the following descriptions of the relationships between information presented in the Pay Versus Performance table.

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Compensation Actually Paid and Net Income (Loss)

Our company has not historically looked to net income (loss) as a performance measure for our executive compensation program. Our net income was $17,789 thousand, $1,699 thousand and $2,844 thousand, in 2024, 2023 and 2022, respectively.

Compensation Actually Paid and Cumulative TSR

As shown in the following graph, the compensation actually paid to Dr. Kukes and the average amount of compensation actually paid to our non-PEO NEOs as a group (excluding Dr. Kukes) during the periods presented do not have some correlation because a significant portion of their compensation is in the form of long-term equity awards. The equity awards values are significantly impacted by changes in our stock price each period. These equity awards strongly align our executive officers’ interests with those of our stockholders by providing a continuing financial incentive to maximize long-term value for our stockholders and by encouraging our executive officers to continue in our employment for the long-term.

All information provided above under the “ Pay Versus Performance” and “ Relationship Between“ Compensation Actually Paid and Performance”, headings will not be deemed to be incorporated by reference in any filing of our company under the Securities Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.

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Equity Compensation Plan Information

2021 Plan

General. On July 10, 2021, our board of directors adopted the PEDEVCO Corp. 2021