Company: PED
Filing Date: 2025-07-11
Form Type: DEF 14A
Source: 0001654954-25-007979
Chunk: 63

Company: PEDEVCO CORP
Filing Date: 2025-07-11
Form: DEF 14A
Chunk 63
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 of Chief Commercial Officer of the Company, effective January 1, 2025. The Company and Mr. Crook entered into an Offer Letter, dated December 8, 2024 (the “Crook Offer Letter”), which provides for the appointment of Mr. Crook to the office of Chief Commercial Officer, effective January 1, 2025, at an annual salary of $280,000, with a discretionary annual cash bonus of up to 40% of his then-current salary, a guaranteed cash bonus of $100,000 payable in January 2025, and, subject to board of directors approval and the Company’s 2021 Plan, the grant of a number of shares of restricted Company Common Stock equal to (x) $250,000 divided by (y) the then-current fair market value of the Company Common Stock as determined under the 2021 Plan, vesting 1/3 per year over three years following the date of grant, subject to Mr. Crook’s continued employment with the Company. Mr. Crook is also eligible to receive additional bonuses from time to time, in cash or equity, in the discretion of the board of directors. The Crook Offer Letter includes customary confidentiality requirements and conflict of interest provisions. The agreement can be terminated at any time, for any reason, by either party, with thirty days prior written notice.

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2024 Bonuses

On January 23, 2025, after recommendation by the Compensation 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.

<div align='center'>CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</div>

Except as disclosed above under “Executive Compensation” — “Issuances