Company: GPOR
Filing Date: 2025-03-14
Form Type: PRE 14A
Source: 0001213900-25-024139
Chunk: 48

Company: GULFPORT ENERGY CORP
Filing Date: 2025-03-14
Form: PRE 14A
Chunk 48
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 of control. The Compensation Committee believes that these provisions encourage our Covered NEOs to remain in our employment, as applicable, in the event of a change of control of the Company and during circumstances which indicate that a change of control might occur. The Compensation Committee believes termination and change of control benefits are important in maintaining strong leadership and in encouraging retention in these situations and encourages our Covered NEOs to act in the best interests of stockholders without distraction based on uncertainty regarding their employment status, as applicable. Under the Employment Agreements, if a Covered NEO’s employment is terminated without “cause” by the Company or by the applicable Covered NEO for “good reason” during such time that is not within the 24 -monthperiod following a “change of control” (as such terms are defined in the Employment Agreements), such Covered NEO will be entitled to severance compensation equal to: •100% of annual base salary and target annual bonus; •pro -ratatarget annual bonus; •pro -ratedvesting of the Covered NEO’s unvested equity awards (with performance award vesting based on performance through the termination date); however, see “RSU and PSU Grant Agreements” for terms applicable to equity awards; and •a lump sum payment equal to the Covered NEO’s monthly COBRA premium for a 12 -monthperiod. If, however, such Covered NEO’s employment is terminated without cause by the Company or by the Covered NEO for good reason, in each case, within 24 months following a change of control, such Covered NEO will instead be entitled to severance compensation equal to: •200% of sum of annual base salary plus target annual bonus (300% for Mr.Reinhart); •pro -ratedtarget annual bonus; •immediate vesting of the Covered NEO’s unvested equity awards (with performance award vesting based on performance through the termination date); however, see “RSU and PSU Grant Agreements” for terms applicable to equity awards; and •a lump sum payment equal to the Covered NEO’s monthly COBRA premium for an 18 -monthperiod. Under the NEO Employment Agreements: “Good reason” is generally defined as (i) the elimination of the Covered NEO’s position, a material reduction in the duties and/or reassignment of the Covered NEO to a new position of materially less authority; (ii) a material reduction in the Covered NEO’s base salary, in either case, subject to a cure period of 30 days; (iii) the relocation of the