Business Context and Reporting Period
This Form 8-K Current Report was filed by Matador Resources Company on July 13, 2017. The filing addresses corporate governance changes, specifically the departure of a director and the appointment of a new director to the Board.
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
- Director Resignation: Gregory E. Mitchell resigned from the Board of Directors effective July 13, 2017. He previously served on the Nominating Committee and assisted with the Company's initial public offering.
- Director Appointment: David M. Posner was appointed as a new director on July 18, 2017. He is the President of EnVent Energy LLC and brings expertise in oil and natural gas marketing and commercial negotiations.
- Committee Assignments: Mr. Posner was appointed to the Audit, Corporate Governance, and Operations and Engineering Committees.
Guidance, Outlook, and Risks
The filing does not contain guidance, outlook, management commentary on operations, or specific risk factors. Mr. Mitchell's resignation is attributed to his desire to focus on civic, charitable, and other business interests. Mr. Posner's appointment is intended to leverage his background as a trusted advisor and consultant to the Company.
Key Facts for Investor Verification
- Verify the effective date of Gregory E. Mitchell's resignation (July 13, 2017).
- Confirm David M. Posner's tenure, which lasts until the 2018 Annual Meeting of Shareholders or earlier removal.
- Review the Director Compensation section of the Proxy Statement filed on April 21, 2017, for details on Mr. Posner's compensation.
- Note that Mr. Posner has no direct or indirect interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.