Prairie Operating Co. Reports Officer Changes and Financials
Ticker: PROP · Form: 8-K · Filed: Aug 15, 2025 · CIK: 1162896
Sentiment: neutral
Topics: corporate-governance, officer-changes, financial-reporting
TL;DR
Prairie Operating Co. filed an 8-K detailing leadership changes and financial updates.
AI Summary
Prairie Operating Co. filed an 8-K on August 15, 2025, reporting on the departure of directors or certain officers, the election of directors, and the appointment of certain officers. The filing also covers compensatory arrangements for certain officers and includes financial statements and exhibits. The report date for the earliest event is August 13, 2025.
Why It Matters
This filing indicates potential shifts in the company's leadership and executive compensation structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance and financial information, not indicating immediate financial distress or significant operational changes.
Key Players & Entities
- Prairie Operating Co. (company) — Registrant
- August 13, 2025 (date) — Earliest event reported
- August 15, 2025 (date) — Date of report
- Delaware (jurisdiction) — State of Incorporation
- 55 Waugh Drive Suite 400 Houston, Texas 77007 (address) — Principal Executive Offices
FAQ
What specific changes occurred regarding directors or officers?
The 8-K filing indicates events related to the departure of directors or certain officers, the election of directors, and the appointment of certain officers.
What is the earliest date for events reported in this filing?
The earliest event reported is dated August 13, 2025.
When was this 8-K report filed?
This 8-K report was filed on August 15, 2025.
What is the principal executive office address for Prairie Operating Co.?
The principal executive offices are located at 55 Waugh Drive, Suite 400, Houston, Texas 77007.
Does this filing include information on executive compensation?
Yes, the filing covers compensatory arrangements of certain officers.
Filing Stats: 898 words · 4 min read · ~3 pages · Grade level 12.1 · Accepted 2025-08-15 16:55:47
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share PROP The Nasdaq Stock Mar
- $750,000 — ses Mr. Kovalik's annual base salary to $750,000 (from $550,000), retroactive to January
- $550,000 — 's annual base salary to $750,000 (from $550,000), retroactive to January 1, 2025, and (
- $675,000 — eases Mr. Hanna's annual base salary to $675,000 (from $550,000), retroactive to January
Filing Documents
- ef20053548_8k.htm (8-K) — 36KB
- ef20053548_ex10-1.htm (EX-10.1) — 86KB
- ef20053548_ex10-2.htm (EX-10.2) — 93KB
- ef20053548_ex10-3.htm (EX-10.3) — 92KB
- 0001140361-25-031548.txt ( ) — 497KB
- prop-20250813.xsd (EX-101.SCH) — 4KB
- prop-20250813_lab.xml (EX-101.LAB) — 21KB
- prop-20250813_pre.xml (EX-101.PRE) — 16KB
- ef20053548_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Amended and Restated Employment Agreements On August 13, 2025, the Compensation Committee of the Board of Directors approved the Company's entry into amended and restated employment agreements with each of Ed Kovalik (Chief Executive Officer), Gary C. Hanna (President), and Gregory S. Patton (Executive Vice President and Chief Financial Officer), each of which became effective as of August 13, 2025. Edward Kovalik Second Amended and Restated Employment Agreement ("Kovalik Employment Agreement") The Kovalik Employment Agreement (a) increases Mr. Kovalik's annual base salary to $750,000 (from $550,000), retroactive to January 1, 2025, and (b) reduces his target annual incentive bonus opportunity to 125% of annual base salary (from 250%), effective as of January 1, 2025. These changes are intended to more closely align Mr. Kovalik's target annual cash compensation with competitive market practices, based on guidance and data provided by the Compensation Committee's independent compensation consultant, Zayla (a Gallagher company) (the "Compensation Consultant"). The Kovalik Employment Agreement also eliminates certain outdated or obsoleted provisions from his prior employment agreement. The foregoing summary is qualified in its entirety by reference to the full text of the agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. Gary C. Hanna Second Amended and Restated Employment Agreement ("Hanna Employment Agreement") The Hanna Employment Agreement (a) increases Mr. Hanna's annual base salary to $675,000 (from $550,000), retroactive to January 1, 2025, and (b) reduces his target annual incentive bonus opportunity to 125% of annual base salary (from 250%), effective as of January 1, 2025. These modifications are intended to more closely align Mr. Ha
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 10.1 Second Amended and Restated Kovalik Employment Agreement 10.2 Second Amended and Restated Hanna Employment Agreement 10.3 Amended and Restated Patton Employment Agreement 104 Cover Page Interactive Data File-formatted as Inline XBRL.
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. Date: August 15, 2025 Prairie Operating Co. By: /s/ Daniel T. Sweeney Name: Daniel T. Sweeney Title: Executive Vice President, General Counsel and Corporate Secretary