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MarketScreener Homepage  >  Equities  >  Nyse  >  HighPoint Resources Corp    HPR

HIGHPOINT RESOURCES CORP

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HIGHPOINT RESOURCES CORP : Change in Directors or Principal Officers (form 8-K)

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02/11/2019 | 04:54pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 11, 2019, HighPoint Resources Corporation (the "Company") announced that William K. Stenzel, Senior Vice President-Corporate Development and Planning of the Company, will separate from his position with the Company for "Good Reason" as defined in the Change in Control Severance Protection Agreement between Mr. Stenzel and the Company, effective on February 28, 2019 (the "Separation Date"). Mr. Stenzel's separation is not the result of any disagreement with the Company.

Upon Mr. Stenzel entering into a Release and Confidentiality Agreement with the Company, pursuant to the existing employment arrangements:

Mr. Stenzel will receive cash severance in the amount of $987,956.

• On the Separation Date, all unvested restricted stock awards will vest.

Mr. Stenzel will receive twenty-four months of health and welfare benefits.

Mr. Stenzel will release and discharge the Company from any and all claims
       arising or occurring prior to the Separation Date.


•      Mr. Stenzel will hold in strict confidence any confidential information
       related to the Company.

The majority of Mr. Stenzel's duties have been assumed by Paul W. Geiger, the Company's Chief Operating Officer.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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