Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Stockholders for Tengasco, Inc. (not Riley Exploration Permian, Inc., as noted in the metadata request) held on December 13, 2019. The company is a smaller reporting company incorporated in Delaware, with common stock (TGC) trading on the NYSE American. As of the report date, there were 10,658,775 shares of common stock outstanding.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and shareholder voting results.
Material Changes and Voting Results
The Annual Meeting resulted in the following outcomes based on votes cast by holders of 9,787,758 shares (representing a quorum):
- Election of Directors: Matthew K. Behrent, Peter E. Salas, and Richard M. Thon were all elected to the Board of Directors.
- Independent Auditors: Shareholders ratified the appointment of Moss Adams LLP as the independent certified public accountants.
- Executive Compensation (Say-on-Pay): The non-binding advisory vote on executive compensation was approved.
- Compensation Vote Frequency: Shareholders voted to approve executive compensation every two years (5,483,400 votes for "Every Two Years" vs. 337,561 for "Every Year").
- Other Business: A proposal to authorize proxies to vote on other business was approved.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, or specific risk factors. The document includes a standard disclaimer stating that the information is not deemed "filed" for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings except as expressly set forth.
Key Facts for Investor Verification
- Verify the correct registrant name is Tengasco, Inc., not Riley Exploration Permian, Inc.
- Confirm the new two-year frequency for executive compensation votes.
- Note the significant number of broker non-votes (3,798,520) on director elections and compensation proposals.
- Review the attached Exhibit 99.1 for the presentation made at the meeting, as financial details were not included in the 8-K text itself.