DENBURY RESOURCES INC. (NYSE:DNR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02(d) – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Appointment of Mary M. VanDeWeghe to the Denbury Resources Inc. Board of Directors
On March 27, 2019, Mary M. VanDeWeghe was appointed to the Board of Directors (the “Board”) of Denbury Resources Inc. (the “Company”). Ms. VanDeWeghe has been appointed to the Audit Committee and Reserves and Health, Safety and Environmental Committee of the Board.
Ms. VanDeWeghe has served as the President and Chief Executive Officer of Forte Consulting, Inc., a management and financial consulting firm, since March 2009, and was previously employed as a Finance Professor at Georgetown University from 2009-2016, Senior Vice President – Finance at Lockheed Martin Corporation from 2006-2009, a Finance Professor at the University of Maryland from 1996-2006, and in various positions at J.P. Morgan from 1983-1996. Ms. VanDeWeghe currently serves on the board of directors of Principal Funds, Inc., a global asset management organization. She previously has served on the boards of directors for Brown Advisory from 2003-2018, B/E Aerospace, Inc. from 2014-2017, W.P. Carey Inc. from 2014-2017, and Nalco Holding Company (and its successor Ecolab Inc.) from 2009-2014. Ms. VanDeWeghe has a Bachelor’s degree in Economics from Smith College, where she graduated Phi Beta Kappa, and received a Masters of Business Administration degree from the Amos Tuck School of Business at Dartmouth College, where she was a Tuck Scholar. Ms. VanDeWeghe has more than 35 years of experience developing and executing strategies to maximize shareholder value. Her areas of expertise include strategic planning, mergers & acquisitions, capital markets, risk management,project financing, venture capital, investment management, corporate governance and investor relations.
On March 27, 2019, following her appointment to the Board, Ms. VanDeWeghe was granted 71,911 shares of restricted stock which will vest on March 26, 2020. Ms. VanDeWeghe is also entitled to participate in the Director Deferred Compensation Plan on the same basis as other non-employee directors. In addition, effective March 27, 2019, the Company and Ms. VanDeWeghe entered into the Company’s standard form of indemnification agreement for its non-employee directors, which requires the Company to indemnify each indemnitee to the fullest extent permitted by the Delaware General Corporation Law.
Laura A. Sugg will not stand for re-election to the Board
On March 27, 2019, Laura A. Sugg notified the Board that she will not stand for re-election to the Board at the Company’s upcoming annual meeting of stockholders to be held May 22, 2019. Ms. Sugg has been a member of the Board since 2012, currently serving as the Chairperson of the Compensation Committee. Ms. Sugg’s decision to not stand for re-election was not the result of any disagreement between Ms. Sugg and the Company, its management, Boardor any committee of the Board, or with respect to any matter relating to the Company’s operations, policies or practices.
Section 9 – Financial Statements and Exhibits
Item 5.02 – Financial Statements and Exhibits
The following exhibitis furnished in accordance with the provisions of Item 601 of Regulation S-K:
DENBURY RESOURCES INC Exhibit
EX-99.1 3 dnr-20190401xexhibit991.htm EXHIBIT 99.1 Exhibit NewsDENBURY RESOURCES ANNOUNCES APPOINTMENT OF NEW BOARD MEMBERPLANO,…
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About DENBURY RESOURCES INC. (NYSE:DNR)
Denbury Resources Inc. is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming. It has estimated proved oil and natural gas reserves of over 288.6 million barrels of oil equivalent (MMBOE). Its primary Gulf Coast carbon dioxide (CO2) source is Jackson Dome, which is located near Jackson, Mississippi. Its mature group of properties includes the initial CO2 field, Little Creek, as well as various other fields, including Brookhaven, Cranfield, Eucutta, Lockhart Crossing, Mallalieu, Martinville, McComb and Soso fields. Its LaBarge Field is located in southwestern Wyoming. It holds interest in LaBarge Field, which consists of over 1.2 trillion cubic feet of proved CO2 reserves.
