Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 6, 2021, the Company announced that Chad Burkhardt has joined the
Company as its Vice President and General Counsel, effective April 1, 2021. Mr.
Burkhardt, age 47, most recently served as Vice President, General Counsel and
Corporate Secretary at TransAtlantic Petroleum Ltd, a publicly traded energy
exploration and production company, focused on applying North American drilling
and exploration technologies and practices to underdeveloped reserves in Turkey
and Eastern Europe. At TransAtlantic, Mr. Burkhardt oversaw the company's
overall legal function while focusing in particular on capital markets
activities and corporate finance transactions. He was also intimately involved
in matters related to acquisitions and divestitures, crisis management, and
labor and employment. Prior to working at Transatlantic Petroleum, Mr. Burkhardt
was a partner at Baker Botts LLP, a global law firm whose headquarters is
located in Houston, Texas. At Baker Botts, Mr. Burkhardt had a diverse set of
clients ranging from technology start-ups to oil and gas and alternative-energy
companies. Mr. Burkhardt began his legal career as an associate at Thompson
Knight LLP. Mr. Burkhardt received his Juris Doctor from Duke University School
of Law and he has a Bachelor of Arts Degree from Texas A&M University.
In connection with his appointment as General Counsel of the Company, Mr.
Burkhardt will receive a base annual salary of $250,000 and an initial stock
grant of 750,000 common stock options, which will vest over a three-year period.
Mr. Burkhardt will be entitled to participate in the Company's various incentive
compensation programs, payable at the discretion of the Board of Directors of
the Company
There are no arrangements or understandings between Mr. Burkhardt and any other
person pursuant to which Mr. Burkhardt was selected as an officer of the
Company. Mr. Burkhardt has no family relationship with any director or executive
officer of the Company or any person nominated or chosen by the Company to be a
director or executive officer.
Item 7.01 Regulation FD Disclosure.
On April 6, 2021, the Company issued a press release announcing the appointment
of (a) Mr. Burkhardt as Vice President and General Counsel and (b) Ms. Brada
Wilson as Controller, both effective April 1, 2021.
The information furnished pursuant to this Item 7.01 and the accompanying
Exhibit 99.1 shall not be deemed to be "filed" for the purposes of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise subject to the
liability of that section. Further, the information in this Item 7.01 and
Exhibit 99.1(i) will not be deemed an admission as to the materiality of any
information herein (including Exhibit 99.1) and (ii) is not to be incorporated
by reference into any filings of the Company.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description of Exhibit
99.1 Press Release.
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