Business Context and Reporting Period
This Form 8-K Current Report was filed by Amplify Energy Corp. on March 9, 2022, covering events occurring on March 7, 2022. The company is incorporated in Delaware and its common stock trades on the New York Stock Exchange under the symbol AMPY.
Key Financial Metrics
This filing is a current report regarding corporate governance changes and does not contain financial statements. Consequently, data regarding revenue, profit, cash flow, margins, debt, and liquidity are not provided in this document.
Material Changes
The primary material change reported is the departure of two directors from the Board of Directors:
- David Proman resigned effective March 7, 2022.
- Evan Lederman resigned effective March 7, 2022.
Both directors stated they are stepping down to focus on other professional ventures.
Outlook and Management Commentary
Management indicated that the Board of Directors is actively working with a nationally recognized search firm to identify and evaluate new independent director candidates. Additionally, the company is engaging with shareholders to gather input on relevant qualifications and potential candidates.
Investor Verification Checklist
- Verify the timeline for the appointment of new independent directors to replace Mr. Proman and Mr. Lederman.
- Review subsequent filings for the names and backgrounds of the new director candidates.
- Check for any related party transactions or compensation arrangements associated with the departing directors, though none were detailed in this specific filing.