Business Context and Reporting Period
This Form 8-K filing by Matador Resources Company (Texas) covers events occurring on June 24, 2016, with the report dated June 27, 2016. The filing primarily addresses corporate governance changes involving 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 personnel appointments and does not contain financial performance data.
Material Changes
The Board of Directors increased its size and appointed two new directors effective June 24, 2016:
- William M. Byerley: Former partner of PricewaterhouseCoopers (PwC). Appointed to the Audit and Corporate Governance Committees.
- Joe A. Davis: Former Executive Vice President and General Counsel of EnLink Midstream. Appointed to the Corporate Governance and Compensation Committees.
Both directors were appointed to serve until the 2017 Annual Meeting of Shareholders or earlier termination of service.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding financial guidance, outlook, risks, contingencies, or unusual items. The new directors will be compensated according to the existing director compensation program and will enter into standard indemnification agreements.
Investor Verification Checklist
- Verify the specific terms of the Director Compensation program referenced in the Proxy Statement filed on April 28, 2016.
- Confirm the full text of the Press Release dated June 27, 2016 (Exhibit 99.1) for additional context on the appointments.
- Review the Company's Proxy Statement for details on the Audit, Corporate Governance, and Compensation Committee charters.