EXCO RESOURCES, INC. (NYSE:XCO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Departure of Director
On February28, 2017, Wilbur L. Ross delivered a letter to EXCO
Resources, Inc. (the Company) stating
that, as result of the confirmation by the U.S. Senate of his
appointment as Secretary of the U.S. Department of Commerce on
February27, 2017, he was required to step down from outside
positions and therefore he resigned from his positions as a
member of the Companys Board of Directors (the
Board) and each of the Audit Committee
of the Board (the Audit Committee), the
Compensation Committee of the Board (the Compensation
Committee) and the Nominating and Corporate
Governance Committee of the Board (the Nominating and
Corporate Governance Committee). Mr.Ross
resignation was not the result of any disagreement with the
Company on any matter relating to the Companys operations,
policies or practices.
Appointment of Directors
Stephen J. Toy
Effective March1, 2017, acting upon the recommendation of the
Nominating and Corporate Governance Committee, the Board
appointed Stephen J. Toy as a member of the Companys Board, as
well as a member of the Audit Committee, the Compensation
Committee and the Nominating and Corporate Governance Committee.
Mr.Toy was appointed to fill the vacancy on the Board created by
Mr.Ross departure. Mr.Toy will serve as a director until the
Companys 2017 Annual Meeting of Shareholders.
There are no arrangements or understandings between Mr.Toy and
any other persons to which he was selected to serve as a director
the Company. In addition, there are no transactions between the
Company and Mr.Toy or his immediate family members requiring
disclosure under Item 404(a) of Regulation S-K promulgated under
the Securities Exchange Act of 1934, as amended (the
Exchange Act).
Anthony R. Horton
Effective March1, 2017, acting upon the recommendation of the
Nominating and Corporate Governance Committee, the Board also
appointed Anthony R. Horton as a member of the Companys Board, as
well as a member of the Audit Committee, the Compensation
Committee and the Nominating and Corporate Governance Committee.
Mr.Horton will serve as a director until the Companys 2017 Annual
Meeting of Shareholders.
There are no arrangements or understandings between Mr.Horton and
any other persons to which he was selected to serve as a director
the Company. In addition, there are no transactions between the
Company and Mr.Horton or his immediate family members requiring
disclosure under Item 404(a) of Regulation S-K promulgated under the
Exchange Act.
Section7
Regulation FD
| Item7.01 | Regulation FD Disclosure. |
On March3, 2017,
the Company issued a press release announcing the resignation of
Mr.Ross and the appointments of Mr.Horton and Mr.Toy.A copy of
the press release is attached hereto as Exhibit 99.1 and is
incorporated by reference herein.
In accordance with
General Instruction B.2 of Form 8-K, the information furnished to
Item 7.01 (including the information in Exhibit 99.1) shall not
be deemed to be filed for purposes of Section18 of the Exchange
Act or otherwise subject to the liabilities of that section, nor
shall such information be deemed incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.
Section9 Financial
Statements and Exhibits
| Item9.01. | Financial Statements and Exhibits. |
(d)
Exhibits.
|
Exhibit No. |
Description |
|
| 99.1 |
Press release, dated March3, 2017, issued by EXCO Resources, Inc. |
About EXCO RESOURCES, INC. (NYSE:XCO)
EXCO Resources, Inc. (EXCO) is an oil and natural gas company. The Company is engaged in the exploration, exploitation, acquisition, development and production of onshore United States oil and natural gas properties with a focus on shale resource plays. The Company’s principal operations are conducted in certain United States oil and natural gas areas, including Texas, Louisiana and the Appalachia region. The Company holds acreage positions in approximately three shale plays in the United States, including East Texas and North Louisiana, South Texas and Appalachia. In East Texas and North Louisiana, the Company holds approximately 83,800 net acres in the Haynesville and Bossier shales. In South Texas, it holds approximately 65,800 net acres in the Eagle Ford shale. In Appalachia, the Company holds approximately 137,400 net acres prospective in the Marcellus shale. EXCO RESOURCES, INC. (NYSE:XCO) Recent Trading Information
EXCO RESOURCES, INC. (NYSE:XCO) closed its last trading session up +0.015 at 0.557 with 1,339,557 shares trading hands.
