Business Context and Reporting Period
This Form 8-K Current Report was filed by Amplify Energy Corp. on October 5, 2023, covering events occurring on October 3, 2023. The filing addresses changes to the composition of the Board of Directors.
Key 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 corporate governance changes and does not contain financial performance data.
Material Changes
- Board Appointment: The Board appointed Vidisha Prasad as a director, effective immediately. She has also been appointed to the Audit Committee.
- Board Departure: Randal T. Klein informed the Board of his decision not to seek reelection at the 2024 Annual Meeting of Stockholders. He will continue to serve until that meeting.
- Reason for Departure: Mr. Klein's decision was not due to any disagreements with the Company regarding operations, policies, or practices.
Guidance, Outlook, and Management Commentary
- Compensation: Ms. Prasad will receive the standard annual cash and equity compensation paid to non-employee directors, along with reimbursement for out-of-pocket expenses.
- Indemnification: Ms. Prasad entered into an indemnification agreement substantially similar to those held by other executive officers and directors.
- Disclosure: The Company issued a press release on October 5, 2023, announcing these events (Item 7.01).
Investor Verification Checklist
- Verify the effective date of Vidisha Prasad's appointment to the Board and Audit Committee.
- Confirm Randal T. Klein's status as a director through the 2024 Annual Meeting.
- Review the attached press release (Exhibit 99.1) for additional context on the Board changes.
- Check subsequent filings for the outcome of the 2024 Annual Meeting regarding director elections.