Vivakor Inc. Announces 2024 Annual Meeting of Stockholders

TL;DR

Vivakor's 2024 shareholder meeting is Dec 5th. Vote your shares!

AI Summary

Vivakor, Inc. is holding its 2024 Annual Meeting of Stockholders on December 5, 2024. The proxy statement details the company's operations and governance, inviting shareholders to participate in key decisions. The company is incorporated in Nevada and its fiscal year ends on December 31st.

Why It Matters

This filing is important for Vivakor shareholders as it outlines the agenda and proposals for the annual meeting, allowing them to exercise their voting rights on company matters.

Risk Assessment

Risk Level: low — This is a standard annual proxy statement with no immediate financial or operational risks indicated.

Key Players & Entities

• Vivakor, Inc. (company) — Registrant
• 2024 Annual Meeting of Stockholders (event) — Meeting subject
• December 5, 2024 (date) — Meeting date

FAQ

Key Financial Figures

• $0.001 — Company’s common stock, par value $0.001 per share (the “Common Stock&rdqu
• $120 million — e price for the Membership Interests is $120 million (the “Purchase Price”), sub
• $1,000 — k at any time using the stated value of $1,000 per share of Preferred Stock and the co
• $1.00 — and the conversion price of one dollar ($1.00) per share of Common Stock. The Sellers
• $200,000 — the Endeavor Entities, he will be paid $200,000, with $100,000 to be paid in cash and t
• $100,000 — ntities, he will be paid $200,000, with $100,000 to be paid in cash and the remaining $1
• $1.89 — s common stock, valued at approximately $1.89 per share. The MIPA, including the ex
• $337,000 — receive (i) base salary compensation of $337,000 USD annually (the “Base Compensat
• $808,000 b — equity incentive compensation of up to $808,000 based upon certain performance criteria a
• $150,000 — any common stock equivalent in value to $150,000, which are priced per share based on th
• $375,000 b — Mr. Shelton’s current salary and $375,000 by January 1, 2025, should the Company no
• $100,000.00 — d (ii) a one-time special cash bonus of $100,000.00 USD upon completion of an equity capita
• $350,000 — versary the Base Salary may increase to $350,000 contingent upon the Company achieving n
• $500,000 — Company achieving net profitability of $500,000 of all commodity trades by the Vice Pre
• $440,000 b — e cash and equity compensation of up to $440,000 based on certain performance goals as fur

Filing Documents

• vivakor_def14a.htm (DEF 14A) — 467KB
• proxy_001.jpg (GRAPHIC) — 489KB
• proxy_002.jpg (GRAPHIC) — 348KB
• 0001829126-24-008066.txt ( ) — 1529KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 19 PROPOSAL NO. 2: RATIFICATION OF THE SELECTION OF URISH POPECK & CO, LLC AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 20234 26 PROPOSAL NO. 3: NON-BINDING ADVISORY VOTE APPROVING EXECUTIVE COMPENSATION 27

SECURITY OWNERSHIP

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 28 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 30 OTHER MATTERS 35 HOUSEHOLDING 36 i ABOUT VIVAKOR, INC. Vivakor, Inc. (“Vivakor” or the “Company”) is a socially responsible operator, acquirer and developer of technologies and assets in the oil and gas industry, as well as related environmental solutions. Currently, our efforts are primarily focused on operating crude oil gathering, storage and transportation facilities, as well as contaminated soil remediation services. One of our facilities in Delhi, Louisiana sells crude under agreements with a large energy company. A different facility owns crude oil storage tanks near Colorado City, Texas. The storage tank is presently connected to the Lotus pipeline system and an extension to a major pipeline system is being constructed. Our soil remediation services specialize in the remediation of soil and the extraction of hydrocarbons, such as oil, from properties contaminated by or laden with heavy crude oil and other hydrocarbon-based substances utilizing our Remediation Processing Centers (RPCs). Our patented process allows us to successfully recover the hydrocarbons which we believe could then be used to produce asphaltic cement and/or other petroleum-based products. We are currently focusing our soil remediation efforts on our project in Kuwait and our upcoming project in the Houston, Texas area. Recent Developments Acquisition of Endeavor Entities On October 1, 2024, the Company, Jorgan Development, LLC, a Louisiana limited liability company (“Jorgan”) and JBAH Holdings, LLC, a Texas limited liability company (“JBAH” and, together with Jorgan, the “Sellers”), as the equity holders of Endeavor Crude, LLC, a Texas limited liability company, Equipment Transport, LLC, a Pennsylvania limited liability company, Meridian Equipment Leasing, LLC, a Texas limited liabi

View Full Filing

View this DEF 14A filing on SEC EDGAR