BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On March 1, 2018, the Board of Directors (the “Board”) of Black Ridge Oil & Gas, Inc. (the “Company”) approved and adopted the Black Ridge Oil & Gas, Inc. 2018 Management Incentive Plan (the “Plan”) and the form of 2018 Management Incentive Plan Award Agreement (the “Award Agreement”:). Copies of the Plan and form of Award Agreement are attached to this Report as Exhibits 10.1 and 10.2, respectively.
In connection with the approval of the Plan and Award Agreement, the Board approved the issuance of awards (the “Awards”) to certain individuals including officers and directors (the “Grantees”), representing a percentage of the shares of Black Ridge Acquisition Corp. (“BRAC”) held by the Company as of the date of closing of the business combination (the “Closing”) for the acquisition of a target business as described in the BRAC prospectus dated October 4, 2017, as follows:
| Name | Percentage of BRAC Shares Owned by the Company Granted to Grantee |
| Bradley Berman | 1.6% |
| Lyle Berman | 1.6% |
| Benjamin Oehler | 1.6% |
| Joe Lahti | 1.6% |
| Kenneth DeCubellis | 4.0% |
| Michael Eisele | 2.8% |
| James Moe | 2.1% |
The foregoing description of the Awards does not purport to be complete and is qualified in its entirety by reference to the full text of the Plan and form of Award Agreement, copies of which are filed as Exhibits 10.1 and 10.2 to this Report and are incorporated by reference herein.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
See Item 1.01 above which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
* Filed herewith
Black Ridge Oil & Gas, Inc. ExhibitEX-10.1 2 blackridge_8k-ex1001.htm 2018 STOCK MANAGEMENT INCENTIVE PLAN Exhibit 10.1 BLACK RIDGE OIL & GAS,…To view the full exhibit click here
About BLACK RIDGE OIL & GAS, INC. (OTCMKTS:ANFC)
Black Ridge Oil & Gas, Inc. is an oil and natural gas exploration and production company. The Company’s properties are located in North Dakota and Montana. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas properties, primarily in the Bakken and Three Forks trends in North Dakota and Montana. The Company is engaged in crude oil and natural gas exploration and production by participating on a pro-rata basis with operators in wells drilled and completed in spacing units that include its acreage under lease. It has proven oil and gas reserves of approximately 2.3 million barrels of oil equivalents, owns interest in over 349 gross (10.95 net) producing oil and gas wells, and controls rights to mineral leases covering approximately 8,100 net acres for prospective drilling to the Bakken and/or Three Forks formations. The Company controls approximately 7,400 net acres in the Williston Basin.