UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: June 30, 2017
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Delaware | | 001-35049 | | 84-0592823 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
1400 Woodloch Forest Drive, Suite 300
The Woodlands, Texas 77380
(Address of principal executive offices) (Zip Code)
(281) 298-4246
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 30, 2017, the Board of Directors of Earthstone Energy, Inc. (the “Company”) increased the annual base salaries for its named executive officers (“NEOs”) effective July 1, 2017. Due to low commodity prices prevailing in the oil and gas industry in recent years, no salary increases were granted to the NEOs in 2015 and 2016. The following table shows the base salaries for the NEOs:
Name | | Title | | Annual Base Salary Through June 30, 2017 | | | Annual Base
Salary effective
July 1, 2017 |
Frank A. Lodzinski | | President and Chief Executive Officer | | | $ 229,500 | | | | $ 320,000 |
Robert J. Anderson | | Executive Vice President, Corporate Development and Engineering | | | $ 235,000 | | | | $ 320,000 |
Timothy D. Merrifield | | Executive Vice President, Geological and Geophysical | | | $ 211,500 | | | | $ 270,000 |
Tony Oviedo | | Executive Vice President, Accounting and Administration (Principal Accounting Officer) | | | $ 220,000 | | | | $ 250,000 |
Ray Singleton | | Executive Vice President, Northern Region | | | $ 207,900 | | | | $ 240,000 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EARTHSTONE ENERGY, INC. |
| | |
Date: June 30, 2017 | By: | /s/ Tony Oviedo |
| | Tony Oviedo |
| | Executive Vice President - Accounting and Administration |
