Business Context and Reporting Period
This Form 8-K filing by Matador Resources Company (MTDR) was submitted on April 10, 2024. The report addresses a significant change in executive leadership within the company's operations division.
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 personnel changes and does not contain financial performance data.
Material Changes
- Executive Departure: Billy E. Goodwin, President - Operations, announced his retirement effective April 10, 2024, at age 67. He will remain an employee until April 30, 2024.
- Succession Plan: Christopher P. Calvert, Executive Vice President and Chief Operating Officer, will assume Mr. Goodwin's role as the principal operating officer.
- Supporting Leadership: Other executive staff members, including Glenn W. Stetson (Production), M. Cliff Humphreys (Completions), and Joshua D. Passauer (Drilling), will also assume aspects of Mr. Goodwin's responsibilities.
Management Commentary and Risks
Management highlighted Mr. Goodwin's nearly 14 years of service, crediting him with enhancing operational expertise and efficiency that enabled company growth. The filing notes that Mr. Goodwin will continue as a shareholder. No specific risks, contingencies, or unusual items were disclosed in this report.
Investor Verification Checklist
- Verify the transition timeline for Mr. Goodwin's departure (effective April 10, 2024, with employment ending April 30, 2024).
- Confirm Christopher P. Calvert's new title and scope of authority as the principal operating officer.
- Review the company's Definitive Proxy Statement (Schedule 14A) filed on April 27, 2023, for detailed biographical information on Mr. Calvert.