Vivakor Reports Material Agreements and Officer Changes
Ticker: VIVK · Form: 8-K · Filed: Aug 18, 2025 · CIK: 1450704
Sentiment: neutral
Topics: material-agreement, officer-changes, director-changes, compensatory-arrangements
TL;DR
Vivakor filed an 8-K detailing new deals and exec changes on Aug 12.
AI Summary
Vivakor, Inc. filed an 8-K on August 18, 2025, reporting on several key events that occurred on August 12, 2025. These include entering into a material definitive agreement, changes in directors and officers, and the adoption of new compensatory arrangements. The filing also covers Regulation FD disclosures and financial statements/exhibits.
Why It Matters
This filing signals significant corporate actions, including new agreements and potential changes in leadership or compensation, which could impact the company's strategic direction and financial performance.
Risk Assessment
Risk Level: medium — The filing indicates material definitive agreements and changes in officers, which can introduce uncertainty and potential shifts in company strategy.
Key Players & Entities
- Vivakor, Inc. (company) — Registrant
- August 12, 2025 (date) — Earliest event reported
- August 18, 2025 (date) — Date of report
- Nevada (jurisdiction) — State of incorporation
- 001-41286 (commission_file_number) — SEC File Number
- 26-2178141 (ein) — IRS Employer Identification No.
- 5220 Spring Valley Rd. Suite 500 Dallas , TX 75254 (address) — Principal executive offices
- (949) 281-260 (phone_number) — Business phone
FAQ
What specific material definitive agreement did Vivakor, Inc. enter into on August 12, 2025?
The filing states that Vivakor, Inc. entered into a material definitive agreement on August 12, 2025, but the specific details of this agreement are not provided in the provided text.
What were the key changes in directors or officers reported by Vivakor, Inc. on August 12, 2025?
The filing indicates a departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements, but does not name the individuals involved or the specifics of the changes.
What is the primary business of Vivakor, Inc. according to its SIC code?
Vivakor, Inc.'s Standard Industrial Classification (SIC) code is 4953, which corresponds to Refuse Systems.
When was Vivakor, Inc. incorporated and in which state?
Vivakor, Inc. was incorporated in Nevada.
What is the fiscal year end for Vivakor, Inc.?
Vivakor, Inc.'s fiscal year ends on December 31.
Filing Stats: 1,458 words · 6 min read · ~5 pages · Grade level 12.2 · Accepted 2025-08-18 16:55:44
Key Financial Figures
- $375,000 — in exchange for a base annual salary of $375,000 and annual equity compensation of share
- $125,000 — r's common stock equal to not less than $125,000, paid to Mr. Patterson in four equal qu
- $250,000.00 — to Two Hundred Fifty Thousand Dollars ($250,000.00) of Vivakor common stock, which shall b
Filing Documents
- vivakor_8k.htm (8-K) — 50KB
- vivakor_ex10-1.htm (EX-10.1) — 55KB
- vivakor_ex99-1.htm (EX-99.1) — 15KB
- 0001829126-25-006459.txt ( ) — 304KB
- vivk-20250812.xsd (EX-101.SCH) — 3KB
- vivk-20250812_lab.xml (EX-101.LAB) — 33KB
- vivk-20250812_pre.xml (EX-101.PRE) — 22KB
- vivakor_8k_htm.xml (XML) — 4KB
01 Entry into a Material Agreement
Item 1.01 Entry into a Material Agreement. Amended Employment Agreement On August 12, 2025, Vivakor, Inc. ("Vivakor") and Vivakor Administration, LLC (together with Vivakor, the "Company") entered into a Second Amendment to the Employment Agreement with Les Patterson (the "Amended Agreement"), which amended that certain Employment Agreement dated July 1, 2025, as amended. Under the Amended Agreement, Mr. Patterson accepted the position of Executive Vice President and Chief Operating Officer of Vivakor, Inc. in exchange for a base annual salary of $375,000 and annual equity compensation of shares of Vivakor's common stock equal to not less than $125,000, paid to Mr. Patterson in four equal quarterly installments priced per share based on the volume-weighted average price for the preceding five (5) NASDAQ trading days prior to the Effective Date or annual anniversary of the Amended Agreement, as applicable, with the shares issued as registered common stock under a registered equity compensation plan. The Employment Agreement may be terminated by either party for any or no reason, by providing five business days' notice of termination, but a termination without cause will trigger certain severance provisions, including a lump sum payment equal to six (6) months pay. Mr. Patterson will also receive a one-time signing bonus within seven (7) days from signing the Amended Agreement equal to Two Hundred Fifty Thousand Dollars ($250,000.00) of Vivakor common stock, which shall be issued pursuant to Vivakor's Form S-8 Registration Statement filed with the U.S. Securities and Exchange Commission and shall be priced per share based on the volume-weighted average price for the preceding five (5) NASDAQ trading days prior to the date of this Second Amendment
01 of this Current Report on Form 8-K contains
Item 1.01 of this Current Report on Form 8-K contains only a brief description of the material terms of the Amended Agreement and does not purport to be a complete description of the rights and obligations of the parties to the Amended Agreement, and such description is qualified in its entirety by reference to the full text of the Amended Agreement, a copy of which is filed herewith as Exhibit 10.1.
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 5.02. Mr. Patterson's hiring was a result of our prior Chief Operating Officer's resignation, as discussed in a Current Report on Form 8-K filed with the Commission on August 6, 2025. Leslie D. Patterson, Executive Vice President and Chief Operating Officer Leslie D. Patterson joined Vivakor as Vice President of Operations & Construction in 2023 and was promoted to Executive Vice President and Chief Operating Officer in August 2025. Mr. Patterson has over three decades of construction and management experience in the domestic and international oil and gas industries. His experience spans operations, construction, business development, corporate strategy, and health, safety, and environmental concerns in onshore and offshore projects. Mr. Patterson has managed the development, construction, and commencement of operations of major capital projects for BP, ExxonMobil, Chevron, Shell, Tesoro, Sinclair, Kennecott, and Williams Gas, among others. He previously worked as Senior Vice President of Pipelines & Terminals for Bridger Logistics from 2012 to 2017, the midstream division of Ferrellgas Partners, LP (NYSE: FGP), where he independently led, developed and managed three of the company's seven business units (pipelines, terminals, and saltwater disposal) to consistent profitability through multiple management teams and large-scale M&A transactions. Prior to Bridger, Mr. Patterson was a division operations manager at EMS, an oilfield services firm, from 2008 to 2012. Prior to EMS, he worked as the head of business development for STARCON International, an industrial projects and turn-around firm, as a division business development manager for TEPSCO, and as Vice President of Business Development
01
Item 7.01 Regulation FD Disclosure. On August 13, 2025, Vivakor issued a press release announcing the hiring of Mr. Patterson as Executive Vice President and Chief Operating Officer as described in Item 1.01 of this Form 8-K. The full text of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference in this Item 7.01.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. In reviewing the agreements included or incorporated by reference as exhibits to this Current Report on Form 8-K, please remember that they are included to provide investors with information regarding their terms and are not intended to provide any other factual or disclosure information about Vivakor or the other parties to the agreements. The agreements may contain representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the parties to the applicable agreement and: should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate; have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement; may apply standards of materiality in a way that is different from what may be viewed as material to other investors; and were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments. Accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. Additional information about Vivakor may be found elsewhere in this Current Report on Form 8-K and in Vivakor's other periodic filings which are available without charge through the SEC's website at http://www.sec.gov. 2 Exhibit No. Exhibit 10.1 Second Amended Employment Agreement, by and between Vivakor, Inc., Vivakor Administration, LLC and Les Patterson, dated August 12, 2025 99.1 Press Release Announcing Hiring of Les Patterson as COO, issued August 13, 2025 1 104 Cover Page Interactive Data File (formatted
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. VIVAKOR, INC. Dated: August 18, 2025 By: /s/ James Ballengee Name: James Ballengee Title: Chief Executive Officer 4