PEDEVCO Corp. Elects New Directors
Ticker: PED · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1141197
| Field | Detail |
|---|---|
| Company | Pedevco Corp (PED) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-of-directors, governance
TL;DR
PEDEVCO added 2 new directors to the board, effective Aug 29.
AI Summary
PEDEVCO Corp. announced on August 29, 2024, a change in its board of directors. Specifically, the company elected two new directors, Mr. David M. Van Arsdale and Mr. Robert L. Luth, to its Board of Directors, effective immediately. This action was taken in conjunction with the company's annual meeting of stockholders.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes, such as director elections, which typically carry low inherent risk.
Key Players & Entities
- PEDEVCO Corp. (company) — Registrant
- David M. Van Arsdale (person) — Newly Elected Director
- Robert L. Luth (person) — Newly Elected Director
- August 29, 2024 (date) — Effective date of director election
FAQ
Who were the newly elected directors to PEDEVCO Corp.'s Board?
Mr. David M. Van Arsdale and Mr. Robert L. Luth were elected as new directors.
When were the new directors elected?
The election of the new directors was effective August 29, 2024.
What event coincided with the election of new directors?
The election of new directors was in conjunction with the company's annual meeting of stockholders.
What is PEDEVCO Corp.'s state of incorporation?
PEDEVCO Corp. is incorporated in Texas.
What is PEDEVCO Corp.'s Standard Industrial Classification code?
PEDEVCO Corp.'s SIC code is 1311 for Crude Petroleum & Natural Gas.
Filing Stats: 1,427 words · 6 min read · ~5 pages · Grade level 10.7 · Accepted 2024-08-30 16:31:00
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share PED NYSE Americ
Filing Documents
- ped_8k.htm (8-K) — 50KB
- ped_ex101.htm (EX-10.1) — 8KB
- 0001654954-24-011344.txt ( ) — 184KB
- ped-20240829.xsd (EX-101.SCH) — 6KB
- ped-20240829_lab.xml (EX-101.LAB) — 14KB
- ped-20240829_cal.xml (EX-101.CAL) — 1KB
- ped-20240829_pre.xml (EX-101.PRE) — 9KB
- ped-20240829_def.xml (EX-101.DEF) — 2KB
- ped_8k_htm.xml (XML) — 4KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the Annual Meeting, the stockholders (i) elected three director nominees, (ii) approved the appointment of Marcum LLP, as the Company's independent registered public accounting firm for the 2024 fiscal year, and (iii) approved the First Amendment (discussed above). A total of 68,459,764 shares of common stock were present in person or by proxy and represented at the Annual Meeting, which shares constituted a quorum (a majority of the outstanding shares of the Company entitled to vote) based on 89,285,267 shares entitled to vote at the Annual Meeting as of the July 1, 2024 record date for the Annual Meeting. At the Annual Meeting, the Company's shareholders voted on the following proposals described in greater detail in the Proxy Statement and summarized below. This Form 8K should be read in connection with the Proxy Statement. There was no solicitation in opposition to management's nominees as listed in its proxy statement and all such nominees were elected as directors. 2 The results of the voting for each of the proposals were as follows: 1. Election of Directors: For Withhold Broker Non-Votes John J. Scelfo 67,641,842 57,581 760,341 Dr. Simon G. Kukes 67,447,542 221,881 760,341 H. Douglas Evans 65,996,288 1,703,135 760,341 2. Ratification of the appointment of Marcum LLP, as the Company's independent auditors for the fiscal year ending December 31, 2024: For: 68,279,226 Against: 178,149 Abstain: 2,389 Broker Non-Votes: -0- 3. To approve and adopt the First Amendment to the Company's 2021 Equity Incentive Plan: For: 66,871,063 Against: 786,552 Abstain: 41,808 Broker Non-Votes: 760,341 As such, each of the three (3) director nominees were duly appointed to the Board of Directors by a plurality of the votes cast (there was no solicitation in opposition to management's nominees as listed in its proxy statement), each to serve a term of one
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 First Amendment to PEDEVCO Corp. 2021 Equity Incentive Plan (1) 10.2 PEDEVCO Corp. 2021 Equity Incentive Plan Form of Restricted Shares Grant Agreement (2) 104 Inline XBRL for the cover page of this Current Report on Form 8-K (1) Filed herewith. (2) Filed on September 1, 2021, as Exhibit 99.3 to the Company's Registration on Form S-8 and incorporated herein by reference (File No. 333-259248). 3
SIGNATURES
SIGNATURES 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. PEDEVCO CORP. Date: August 30, 2024 By: /s/ Dr. Simon G. Kukes Dr. Simon G. Kukes Chief Executive Officer 4