NOBLE ENERGY, INC. (NYSE:NBL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 29, 2018, the Compensation, Benefits and Stock Option Committee (the “Compensation Committee”) of the Board of Directors of Noble Energy, Inc. (the “Company”) approved additional forms of awards that will govern certain future grants under the Company’s 2017 Long-Term Incentive Plan (the “2017 Plan”). These new forms reflect two additional vesting schedules for restricted stock awards.
In prior years, the Company’s executive officers received time-based restricted stock awards that vested 40% on the first anniversary and 60% on the second anniversary. The Compensation Committee considered and approved a new structure for these awards for executive officers (and certain other Company officers) beginning in 2018, which will now include shares of restricted stock awards that vest one-third per year on the first, second and third anniversary of the Award date.
The Compensation Committee also approved a three-year cliff vested restricted stock award to be used from time to time as determined by the Company.
The foregoing descriptions of the new forms of restricted stock awards are qualified in their entirety by reference to the full text of these agreements, which are filed as Exhibits 10.1 and 10.2 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed as part of this Current Report on Form 8-K
Form of Restricted Stock Award (3-year time-vested officers) under the Noble Energy, Inc. 2017 Long-Term Incentive Plan filed herewith.
Form of Restricted Stock Award (3-year cliff vested) under the Noble Energy, Inc. 2017 Long-Term Incentive Plan filed herewith.
NOBLE ENERGY INC ExhibitEX-10.1 2 form8-k13118xexhibit101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1NOBLE ENERGY,…To view the full exhibit click here About NOBLE ENERGY, INC. (NYSE:NBL) Noble Energy, Inc. is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs. The Company operates in over seven core areas, including the DJ Basin (onshore United States), the Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), the deepwater Gulf of Mexico (offshore United States), offshore West Africa and offshore Eastern Mediterranean. Its sanctioned projects include DJ Basin (onshore United States), Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), Gunflint (deepwater Gulf of Mexico) and Tamar Southwest (offshore Israel). Its proved reserves are approximately 1,420 million barrels oil equivalent.