Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
OnJune 24, 2021 , the Board of Directors (the "Board") ofPioneer Natural Resources Company (the "Company") appointedLori George Billingsley to the Board with a term expiring at the 2022 annual meeting of stockholders. Ms.George Billingsley will serve on the Board'sCompensation and Leadership Development Committee andHealth, Safety and Environment Committee . Ms.George Billingsley will receive the standard non-employee director compensation for serving on the Board, including a grant of 1,411 restricted stock units in respect of the annual grant for non-employee directors for the 2021-2022 director year, which will vest in equal quarterly increments through the 2022 annual meeting of stockholders, as well as a grant of 941 restricted stock units that will vest in one-third increments each year over the next three years. In addition, effectiveJune 24, 2021 , the Company and Ms.George Billingsley will enter into the Company's standard form of indemnification agreement for its non-employee directors, which requires the Company to indemnify each indemnitee to the fullest extent permitted by theDelaware General Corporation Law. For a description of the compensation program for the Company's non-employee directors and the Company's indemnification agreements, please see the Company's Proxy Statement for its 2021 annual meeting of stockholders, filed with theSecurities and Exchange Commission onApril 15, 2021 . In connection with her appointment to the Board, the Board determined that Ms.George Billingsley is independent under the independence standards of theNew York Stock Exchange (the "NYSE"). There are no arrangements or understandings between Ms.George Billingsley and any other person pursuant to which she was selected as a director, and there are no relationships or transactions to which Ms.George Billingsley is a party that would require disclosure under Item 404(a) of Regulation S-K.
A copy of the news release announcing the appointment of the new directors to the Board is furnished as Exhibit 99.1 to this Report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description 99.1(a) News Release, dated June 24, 2021, titled "
Announces the Addition ofLori George Billingsley
to the Company ' s Board
of Directors " . 104 Cover Page Interactive Data File (formatted as
Inline XBRL and contained in
Exhibit 101).
______________________
(a) Furnished herewith.
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