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:
Item 1.01. | Entry into a Material Definitive Agreement. |
As discussed in Item 5.02 of this Form 8-K, on May 18, 2005, James H. Prince announced his resignation as Executive Vice President and Chief Financial Officer of the Company effective August 1, 2005. On May 21, 2005, Kenneth H. Beer accepted the appointment as Senior Vice President and Chief Financial Officer effective August 1, 2005, and we entered into a letter agreement with Mr. Beer on such date.
The letter agreement sets forth Mr. Beer’s salary, grants of restricted stock and stock options and other customary terms and provisions. A copy of the letter agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 1.01.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On May 18, 2005, James H. Prince announced his resignation as Executive Vice President and Chief Financial Officer of the Company effective August 1, 2005. On May 21, 2005, Kenneth H. Beer, 47, accepted the appointment as Senior Vice President and Chief Financial Officer effective August 1, 2005, and we entered into a letter agreement with Mr. Beer on such date. The letter agreement sets forth Mr. Beer’s salary, grants of restricted stock and stock options and other customary terms and provisions. A copy of the letter agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 5.02.
Mr. Beer is currently a partner at the investment banking firm of Johnson Rice & Company, where he has served as director of research and a senior energy analyst for the firm since 1992. Johnson Rice & Company was an initial purchaser of Stone’s 6¾% Senior Subordinated Notes due 2014 in December 2004, for which it received customary fees.
Item 7.01. | Regulation FD Disclosure. |
On May 23, 2005, we issued a press release announcing Mr. Prince’s retirement as Executive Vice President and Chief Financial Officer and Mr. Beer’s appointment as Senior Vice President and Chief Financial Officer. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
In accordance with General Instruction B.2 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
10.1 | Letter Agreement dated May 19, 2005 between the Registrant and Kenneth H. Beer. |
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99.1 | Press release dated May 23, 2005, “Stone Energy Corporation Announces the Retirement of James H. Prince and the Appointment of Kenneth H. Beer as Senior Vice President and CFO.” |
Pursuant to the requirements of the Securities Exchange Act of 1934, Stone Energy Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | STONE ENERGY CORPORATION | |
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Date: May 24, 2005 | | By: | /s/ James H. Prince | |
| | | James H. Prince Executive Vice President and Chief Financial Officer | |
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EXHIBIT INDEX
Exhibit Number | Description |
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10.1 | Letter Agreement dated May 19, 2005 between the Registrant and Kenneth H. Beer. |
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99.1 | Press release dated May 23, 2005, “Stone Energy Corporation Announces the Retirement of James H. Prince and the Appointment of Kenneth H. Beer as Senior Vice President and CFO.” |
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