Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Resignation of Chief Executive Officer and Director
On July 9, 2021, Carl F. Giesler, Jr. submitted his resignation from his
positions as Chief Executive Officer, President and as a member of the Board of
Directors (the "Board") of Sandridge Energy, Inc. (the "Company"), effective
July 16, 2021 (the "CEO Resignation"), in order to pursue another career
opportunity. Mr. Giesler did not resign as a result of any disagreement with the
Company on any matter relating to the Company's operations, policies or
practices.
Appointment of Chief Executive Officer
In connection with the CEO Resignation, the Board appointed Greyson Pranin as
President and Chief Executive Officer effective July 16, 2021 (the "CEO
Appointment"), and in addition will maintain his role as Chief Operating
Officer. Mr. Pranin's compensation will be determined at a later time.
Mr. Pranin, age 41, has held the role of Senior Vice President and Chief
Operating Officer since March 3, 2021. Prior to that Mr. Pranin most recently
served as the Company's Vice President of Engineering and Reservoir beginning
June 1, 2020, and has served in various engineering, operational and leadership
roles with the Company since December 2011. Prior to joining the Company, Mr.
Pranin served in various engineering and operational roles for Pioneer Natural
Resources from June 2010 to November 2011. Mr. Pranin has served his country as
a non-commissioned and commissioned officer in the U.S. Army Engineering Corps.
Mr. Pranin received his Bachelor of Science from the University of Nevada at
Reno.
There is no arrangement or understanding between Mr. Pranin and any other
persons pursuant to which Mr. Pranin was selected as an officer. There are no
family relationships between Mr. Pranin and any director, executive officer or
person nominated or chosen by the Company to become an executive officer of the
Company within the meaning of Item 401(d) of Regulation S-K under the U.S.
Securities Act of 1933 ("Regulation S-K"). Since the beginning of the Company's
last fiscal year, the Company has not engaged in any transaction in which Mr.
Pranin had a direct or indirect material interest within the meaning of Item
404(a) of Regulation S-K.
Item 8.01 Other Events.
On July 13, 2021, the Company issued a press release announcing the resignation
of Mr. Giesler and CEO Appointment (the "Press Release"). A copy of the Press
Release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number Description
Press release issued July 13, 2021 announcing Officer Resignation and
99.1 Officer Appointment
Cover Page Interactive Data File (embedded within the Inline XBRL
104 document)
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