Business Context and Reporting Period
This Form 8-K Current Report was filed by Matador Resources Company on February 15, 2017. The filing addresses corporate governance changes specifically regarding the appointment of new directors to 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 appointed two new directors effective February 15, 2017:
- Julia P. Forrester: Appointed to serve until the 2017 Annual Meeting of Shareholders. She is the Associate Provost for Student Academic Services and a Professor of Law at Southern Methodist University (SMU). She was assigned to the Audit and Corporate Governance Committees.
- Kenneth L. Stewart: Appointed to serve until the 2017 Annual Meeting of Shareholders. He is a partner and Chair – United States at Norton Rose Fulbright US LLP with extensive experience in mergers, acquisitions, and financing. He was assigned to the Corporate Governance and Compensation Committees.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, or discussion of risks and contingencies. Regarding compensation, both new directors will be paid according to the existing director compensation program detailed in the Company's 2016 Proxy Statement and will enter into standard indemnification agreements. No direct or indirect interests in transactions requiring disclosure under Item 404(a) of Regulation S-K were identified for the new appointees.
Investor Verification Checklist
- Verify the full biographies and potential conflicts of interest for Julia P. Forrester and Kenneth L. Stewart in the Company's Proxy Statement.
- Confirm the specific terms of the Director Compensation Program referenced from the April 28, 2016 filing.
- Review the Company's upcoming 2017 Annual Meeting of Shareholders schedule to confirm the ratification of these appointments.