Business Context and Reporting Period
This Form 8-K Current Report was filed by Matador Resources Company on October 30, 2020. The filing addresses a corporate governance event involving the Board of Directors.
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 changes and does not contain financial performance data.
Material Changes
The material change reported is the resignation of Matthew P. Clifton from the Board of Directors, effective October 30, 2020. Mr. Clifton previously served on the Audit and Nominating Committees and chaired the Marketing and Midstream Committee.
Management Commentary and Risks
Management stated that Mr. Clifton's resignation was due to travel restrictions caused by the novel coronavirus, which prevented him from traveling from Philadelphia to Dallas to fulfill his Board duties effectively. The Company explicitly noted that the resignation was not the result of any disagreement regarding the Company's operations, policies, or practices. No other risks, contingencies, or unusual items were disclosed in this filing.
Key Facts for Investors
- Matthew P. Clifton resigned from the Board of Directors on October 30, 2020.
- The resignation was driven by pandemic-related travel restrictions, not corporate disputes.
- Mr. Clifton was the Chair of the Marketing and Midstream Committee.
- The Company expressed appreciation for his service, particularly regarding San Mateo Midstream, LLC.