Callon Petroleum Company (NYSE:CPE) 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers

On December 7, 2017, Callon Petroleum Company (“CPE” or the “Company”) appointed James (“Jim”) Ulm II as Senior Vice President and Chief Financial Officer, with an anticipated effective date of December 11, 2017 (“Effective Date”).

Mr. Ulm most recently served as founder and managing partner of New Vista Energy Partners, a private E&P company focused on emerging resource plays in the Permian and Anadarko Basins. Previously, he served as CFO for three private companies, including with Fieldwood Energy, LLC where he was responsible for financial and accounting management, planning and the integration of several large acquisitions. Prior to these roles, Mr. Ulm served for almost ten years as the CFO for Pogo Producing Company, a publicly-traded oil and gas company which had meaningful operations in the Permian Basin. Earlier in his career, he held finance and accounting leadership roles with Newfield Exploration Company and American Exploration Company. Mr. Ulm holds an MBA and an undergraduate degree in Accounting, both from the University of Texas. Mr. Ulm has no family relationship with any executive officer or director of CPE reportable under Item 401(d) of Regulation S-K.

As Senior Vice President and CFO, Mr. Ulm will receive a base salary of $465,000 per year. He will participate in both the Company’s annual (i) cash bonus program with a target award of 90% of base salary and (ii) long-term incentive awards program with a target award to be set by the Compensation Committee. Mr. Ulm will also participate in the Company’s employee benefit plans and programs in accordance with their terms. Those plans and programs are outlined in the Company's 2017 Proxy Statement. Mr. Ulm will also receive a company vehicle as well as a sign-on grant of 90,000 shares of Company restricted stock that will vest pro-rata over three years commencing on January 1, 2019.

As of the Effective Date of Mr. Ulm’s appointment, Correne Loeffler, currently interim CFO, will retain her role as Callon’s Treasurer.

A press release dated December 7, 2017, announcing the appointment of James Ulm as Chief Financial Officer has been filed as Exhibit 99.1 to this Report.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

CALLON PETROLEUM CO Exhibit
EX-99.1 2 exhibit991cfoannouncement.htm EXHIBIT 99.1 PRESS RELEASE Exhibit Exhibit 99.1Callon Petroleum Appoints James Ulm as Chief Financial OfficerNatchez,…
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About Callon Petroleum Company (NYSE:CPE)

Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. It focuses on unconventional, onshore, oil and natural gas reserves in the Permian Basin in West Texas and the Midland Basin. Its asset base is concentrated in the Midland Basin located within the broader Permian Basin. Its operations are focused on horizontal drilling of several prospective intervals, including multiple levels of the Wolfcamp formation. It has drilled approximately 40 gross (over 27.1 net) horizontal, while completing approximately 30 gross (over 25.8 net) horizontal and over 1 gross (approximately 0.4 net) vertical wells. It owns leaseholds over 17,670 net acres in the Permian Basin. Its Southern Midland Basin area consists of fields located in Upton, Reagan and Crockett Counties, Texas. Its Central Midland Basin area encompasses Midland, Ector, Andrews and Martin Counties.