4/A: PEDEVCO CORP Executive Jody Crook Receives Restricted Stock Award

Jody Crook, Chief Commercial Officer of PEDEVCO CORP, acquired 294,118 shares of restricted common stock on January 23, 2025, as compensation for services.

Summary

• Jody Crook, Chief Commercial Officer of PEDEVCO CORP, received 294,118 shares of restricted common stock on January 23, 2025.
• The shares were issued under the company's 2021 Equity Incentive Plan and are subject to forfeiture.
• The shares vest in three tranches: 1/3 on the ten-month anniversary of the grant date (January 23, 2025), 1/3 on the twenty-two-month anniversary, and 1/3 on the thirty-four-month anniversary, contingent upon continued service.
• The shares were issued as consideration for services rendered and to be rendered to the Issuer as the Chief Commercial Officer of the Issuer.
• This Form 4/A amends a previous filing to correct the number of shares acquired from 350,000 to 294,118.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The correction of the initial filing suggests attention to detail.

Positives

• The equity grant aligns the executive's interests with those of the shareholders.
• The vesting schedule incentivizes continued service and contribution to the company.

Risks

• The shares are subject to forfeiture if the Reporting Person's service to the Company is terminated.

Future Outlook

The vesting of the restricted stock is contingent upon the Reporting Person's continued service to the Company.

Industry Context

Equity compensation is a common practice in the energy industry to attract and retain key executives.

Comparison to Industry Standards

• Equity grants are a standard component of executive compensation packages across various industries, including oil and gas.
• Companies like ExxonMobil, Chevron, and ConocoPhillips also utilize restricted stock units (RSUs) and stock options to incentivize their executives.
• The vesting schedules and grant sizes are typically benchmarked against peer companies to ensure competitiveness.

Stakeholder Impact

• The equity grant aligns management's interests with those of shareholders, potentially leading to increased shareholder value.
• The vesting schedule incentivizes the executive to remain with the company, providing stability.

Key Dates