Business Context and Reporting Period
This Form 8-K is a current report filed by Halcón Resources Corporation (not Battalion Oil Corp) on August 14, 2019. The filing addresses a material change in executive leadership, specifically the appointment of a new Chief Financial Officer.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity figures. This report focuses exclusively on personnel changes and compensation terms.
Material Changes
- Executive Departure: Quentin R. Hicks resigned as Chief Financial Officer effective August 13, 2019.
- Executive Appointment: Ragan T. Altizer was appointed Chief Financial Officer effective August 14, 2019.
- Compensation Package: Mr. Altizer's approved compensation includes:
- Annual base salary of $350,000.
- Target annual bonus of 100% of base salary.
- Guaranteed fixed monthly bonus through December 2019 (pro-rated annual salary) in lieu of a 2019 bonus.
- Eligibility for annual equity awards.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of operational risks. It notes that there are no reportable related party transactions involving Mr. Altizer under Item 404(a) of Regulation S-K and no family relationships with other directors or officers.
Investor Verification Checklist
- Verify the resignation date of the former CFO, Quentin R. Hicks (August 13, 2019).
- Confirm the effective date of the new CFO, Ragan T. Altizer (August 14, 2019).
- Review the specific terms of the guaranteed bonus through December 2019.
- Check subsequent filings for any changes to the equity compensation plan mentioned.