Matador Resources Extends Exec Employment Agreements, Updates Comp
Ticker: MTDR · Form: 8-K · Filed: Jan 25, 2024 · CIK: 1520006
| Field | Detail |
|---|---|
| Company | Matador Resources Co (MTDR) |
| Form Type | 8-K |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $70,000 |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: executive-compensation, corporate-governance, employment-agreements
TL;DR
**Matador Resources locked in its top execs with new contracts, signaling stability and long-term focus.**
AI Summary
Matador Resources Company announced on January 24, 2024, that it has entered into new employment agreements with its executive officers, including Joseph Wm. Foran, David E. Lancaster, and Matthew V. Hairford. These agreements, effective October 19, 2023, extend their terms and update compensation structures, including base salaries, annual bonuses, and long-term incentive awards. This matters to investors because it provides stability in leadership and aligns executive incentives with long-term company performance, potentially reducing turnover risk and signaling confidence in future growth.
Why It Matters
These new employment agreements ensure leadership stability at Matador Resources and align executive compensation with the company's long-term performance, which can positively influence investor confidence.
Risk Assessment
Risk Level: low — The filing indicates stable leadership and aligned incentives, which generally reduces operational and governance risks for investors.
Analyst Insight
A smart investor would view this as a positive sign of stable management and aligned incentives, potentially increasing confidence in Matador Resources' long-term strategic execution.
Key Players & Entities
- Matador Resources Company (company) — the registrant filing the 8-K
- Joseph Wm. Foran (person) — executive officer with a new employment agreement
- David E. Lancaster (person) — executive officer with a new employment agreement
- Matthew V. Hairford (person) — executive officer with a new employment agreement
- January 24, 2024 (date) — Date of Earliest Event Reported
- October 19, 2023 (date) — effective date of the new employment agreements
Forward-Looking Statements
- Matador Resources will experience continued leadership stability due to the new employment agreements. (Matador Resources Company) — high confidence, target: 2025-01-24
- Executive compensation will remain aligned with long-term company performance. (Matador Resources Company) — high confidence, target: 2026-01-24
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was January 24, 2024, as stated in the 'Date of Report (Date of Earliest Event Reported)' section.
Which specific items of information are included in this 8-K filing?
This 8-K filing includes information under 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers', 'Regulation FD Disclosure', and 'Financial Statements and Exhibits'.
What is the effective date of the new employment agreements mentioned in the filing?
The new employment agreements became effective on October 19, 2023, as indicated in the filing.
What is the business address and phone number of Matador Resources Company?
Matador Resources Company's business address is 5400 LBJ Freeway, Suite 1500, Dallas, Texas 75240, and their telephone number is (972) 371-5200.
What is the purpose of filing this 8-K regarding executive employment agreements?
The purpose of filing this 8-K is to disclose material events concerning 'Compensatory Arrangements of Certain Officers' under Item 5.02, specifically the new employment agreements with executive officers, which are considered significant changes in their compensatory arrangements.
Filing Stats: 1,052 words · 4 min read · ~4 pages · Grade level 11.1 · Accepted 2024-01-25 07:33:09
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share MTDR New York Stock Exchange
- $70,000 — grant date value equal to approximately $70,000, which vests immediately prior to the e
Filing Documents
- mtdr-20240124.htm (8-K) — 38KB
- a20240125mtdrex991director.htm (EX-99.1) — 6KB
- 0001520006-24-000027.txt ( ) — 176KB
- mtdr-20240124.xsd (EX-101.SCH) — 2KB
- mtdr-20240124_lab.xml (EX-101.LAB) — 25KB
- mtdr-20240124_pre.xml (EX-101.PRE) — 13KB
- mtdr-20240124_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. Attached hereto as Exhibit 99.1 is a press release issued by the Company on January 25, 2024, announcing the addition of Ms. Ward as a member of the Board. The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 99.1 Press Release, dated January 25, 2024. 104 Cover Page Interactive Data File, formatted in Inline XBRL (included as Exhibit 101). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATADOR RESOURCES COMPANY Date: January 25, 2024 By: /s/ Craig N. Adams Name: Craig N. Adams Title: Executive Vice President