ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03. Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
(the Company) approved an amendment to the Articles of
Incorporation of the Company increasing the number of authorized
shares of common stock, par value $.01 per share, from
200,000,000 shares to 400,000,000 shares. The amendment became
effective on May 9, 2017. A copy of the Certificate of Amendment
to the Articles of Incorporation of the Company is filed as
Exhibit 3.1 to this Form 8-K.
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(a)
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The Companys annual meeting was held on May 9, 2017.
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(b)
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Each of the matters submitted to the stockholders was
approved by the requisite voting power required for approval of the respective proposal. The results of the voting on the matters submitted to the stockholders are as follows: |
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1.
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To elect as directors for a term of three years to hold
office until the expiration of his term in 2020, or until a successor has been elected and duly qualified. |
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Number of Shares
|
|||
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For
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Withheld
|
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Robert L.G. Watson
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80,236,139
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1,941,565
|
|
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Ralph F. Cox
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78,097,095
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4,080,609
|
|
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Dennis E. Logue
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75,745,622
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6,432,082
|
|
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2.
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To ratify the appointment of BDO USA, LLP as the Companys
independent registered public accounting firm for the year ended December 31, 2017. |
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Number of Shares
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||||
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For
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Against
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Withheld
|
||
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133,765,250
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1,814,072
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889,479
|
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3.
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To approve amendments to the Amended and Restated Abraxas
Petroleum Corporation 2005 Employee Long-Term Equity Incentive Plan. |
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Number of Shares
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||||
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For
|
Against
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Withheld
|
||
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77,309,298
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4,714,159
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154,248
|
||
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4.
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To approve an amendment to the Amended and Restated Abraxas
Petroleum Corporation 2005 Non-Employee Director Long-Term Equity Incentive Plan. |
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Number of Shares
|
||||
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For
|
Against
|
Withheld
|
||
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76,986,198
|
5,032,434
|
159,073
|
||
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5.
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To approve an amendment to the Companys Articles of
Incorporation to increase the Companys authorized shares of common stock from 200,000,000 shares to 400,000,000 shares. |
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Number of Shares
|
||||
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For
|
Against
|
Withheld
|
||
|
121,446,010
|
14,656,268
|
366,523
|
||
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6.
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To approve, by advisory vote, a resolution on executive
compensation. |
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Number of Shares
|
||||
|
For
|
Against
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Withheld
|
||
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75,926,678
|
5,671,183
|
579,843
|
||
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7.
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To approve, on an advisory basis, the frequency of future
advisory votes on executive compensation. |
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Number of Shares
|
||||||
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1 Year
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2 Years
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3 Years
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Abstain
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|||
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67,176,434
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1,154,311
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13,446,404
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400,555
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|||
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8.
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To postpone of adjourn, if necessary the Annual Meeting
to a later time. |
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Number of Shares
|
||||
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For
|
Against
|
Withheld
|
||
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117,479,091
|
18,056,112
|
933,598
|
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(d)
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At the 2017 Annual Meeting, in accordance with the
recommendation of the Board of the Directors, the Companys stockholders recommended, by advisory vote, a one year frequency of future advisory votes on executive compensation. In accordance with these results and its previous recommendation, the Board of Directors determined that future advisory votes on Named Executive Officer compensation will be held every year . until the next required say-on-pay-frequency vote, which will occur no later than our 2023 annual meeting of stockholders. |
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3.1
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Certificate of Amendment to the Articles of Incorporation
of the Company dated May 9, 2017. |
About ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS)
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company. The Company’s daily net production is approximately 5,970 barrels of oil equivalent per day (Boepd), of which over 77% is oil or liquids. The Company’s oil and gas assets are located in three operating regions: the Rocky Mountain, Permian Basin and onshore Gulf Coast. The Company’s properties in the Rocky Mountain region are located in the Williston Basin of North Dakota and Montana, and in the Green River Powder River and Unita Basins of Wyoming and Utah. ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS) Recent Trading Information
ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS) closed its last trading session up +0.06 at 1.93 with 1,351,822 shares trading hands.
