Business Context and Reporting Period
This Form 8-K filing by Matador Resources Company (Texas) was submitted on October 28, 2016. The report addresses corporate governance changes, specifically the expansion of the Board of Directors and the appointment of a new director.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters rather than financial performance.
Material Changes
The primary material change reported is the increase in the size of the Board of Directors. R. Gaines Baty was appointed as a new director effective October 28, 2016. Mr. Baty, an executive search consultant with over 30 years of experience and a 20-year association with the Company, will serve until the 2017 Annual Meeting of Shareholders. He has been assigned to the Corporate Governance Committee and will join the Compensation Committee effective January 1, 2017.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding operational risks. The only disclosed contingency relates to Mr. Baty's term, which may end earlier due to death, retirement, resignation, or removal. Mr. Baty will be compensated according to the existing director compensation program and will enter into a standard indemnification agreement.
Key Facts for Investor Verification
- Verify the total number of directors on the Board following this appointment.
- Review the Director Compensation section of the Proxy Statement filed on April 28, 2016, to confirm Mr. Baty's compensation structure.
- Confirm the effective date of Mr. Baty's service on the Compensation Committee (January 1, 2017).
- Note that no financial data or operational metrics are included in this specific filing.