SEC Filing Summary: Tengasco, Inc. (Form 8-K)
Business Context and Reporting Period
This Form 8-K was filed by Tengasco, Inc. on November 22, 2013. The report discloses a corporate governance event regarding the Board of Directors. Note: The request metadata references "Riley Exploration Permian, Inc.", but the filing text explicitly identifies the registrant as Tengasco, Inc.
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
The primary material change reported is the expansion of the Board of Directors:
- Appointment: Richard M. Thon was elected as an independent director on November 22, 2013.
- Committee Assignments: Mr. Thon was appointed to the Audit Committee and the Compensation Committee.
- Board Composition: The Board now consists of four members (up from three), within the bylaw limit of three to ten directors.
- Committee Structure:
- Audit Committee: Matthew Behrent (Chairman) and Richard M. Thon.
- Compensation Committee: Hugh Brooks (Chairman), Matthew Behrent, and Richard M. Thon.
Management Commentary and Qualifications
Management highlights Mr. Thon's extensive background in banking and finance as directly applicable to the Company's needs. Key qualifications include:
- Experience: Former Assistant Treasurer at ARAMARK Corporation (1987–2002) and Vice President at Mellon Bank.
- Expertise: Bank credit agreements, public debt issuance, interest rate risk management, and foreign exchange.
- Education: B.A. in Economics from Yale College (1977) and MBA in Finance from The Wharton School (1979).
- Other Service: Current board member of Boston Restaurant Associates, Inc., and past service on boards of ACT Conferencing, Inc. and Horizons Unlimited Geriatric Education Corporation.
Investor Verification Checklist
- Verify the correct registrant name (Tengasco, Inc.) versus the metadata reference (Riley Exploration Permian, Inc.).
- Confirm the new Board composition and committee assignments in subsequent filings.
- Review Mr. Thon's independence status and any potential conflicts of interest related to his other board roles.
- Check for any related financial disclosures in the Company's most recent 10-K or 10-Q, as this 8-K contains no financial data.