PANHANDLE OIL AND GAS INC. (NYSE:PHX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
On January 3, 2018, Mr. H. Grant Swartzwelder resigned from the Board of Directors (“Board”) of Panhandle Oil and Gas Inc. (“Panhandle” or the “Company”), effective immediately, following the Board’s decision at its October 25, 2017, meeting not to nominate Mr. Swartzwelder for reelection.Mr. Swartzwelder’s term as a director was set to expire at the 2018 Annual Shareholders Meeting.A successor to Mr. Swartzwelder was nominated by the Board at its December 12, 2017, meeting and will be presented for election by the shareholders in Panhandle’s 2018 Proxy Statement which is to be mailed to shareholders later this month. Mr. Swartzwelder was a member of the Company’s Corporate Governance and Nominating Committee and Compensation Committee.The Company would like to thank Mr. Swartzwelder for his 15 years of service to the Board.A copy of the resignation email Mr. Swartzwelder submitted to the Company is attached to this Form 8-K as Exhibit 17.1.
On January 4, 2018, Darryl Smette informed the Company that he intends to submit his letter of resignation from the Board on or about March 7, 2018.As previously disclosed, Mr. Smette informed the Company of his desire to retire from the Board following the appointment of his successor and the completion of a suitable transition period (originally expected to be on or about December 31, 2017).
ADDITIONAL INFORMATION AND WHERE TO FIND IT
Investors and shareholders will be able to receive Panhandle’s proxy statement and any other relevant documents, once filed, free of charge at the SEC’s website, www.sec.gov, or from Panhandle at 5400 N. Grand Boulevard, Suite 300, Oklahoma City, OK 73112-5688, Attn:Corporate Secretary.
ITEM 9.01 Financial Statements and Exhibits
(d)Exhibits
Exhibit
NumberDescription
17.1Resignation email from H. Grant Swartzwelder dated January 3, 2017
PANHANDLE OIL & GAS INC ExhibitEX-17.1 2 phx-ex171_6.htm EX-17.1 phx-ex171_6.htm EXHIBIT 17.1 From: Grant Swartzwelder [mailto:[email protected]] Sent: Wednesday,…To view the full exhibit click here
About PANHANDLE OIL AND GAS INC. (NYSE:PHX)
Panhandle Oil and Gas Inc. is engaged in the acquisition, management and development of non-operated oil and natural gas properties, including wells located on its mineral and leasehold acreage. The Company’s mineral and leasehold properties are located primarily in Arkansas, New Mexico, North Dakota, Oklahoma and Texas, with properties also located in various other states. The Company’s oil, natural gas liquids (NGLs) and natural gas production is primarily from wells located in Arkansas, Oklahoma and Texas. As of September 30, 2015, the Company’s principal properties consisted of perpetual ownership of 255,411 net mineral acres, held principally in Arkansas, New Mexico, North Dakota, Oklahoma, Texas and six other states; leases on 19,575 net acres primarily in Oklahoma, and working interests, royalty interests, or both, in 6,195 producing oil and natural gas wells, and 65 wells in the process of being drilled or completed.
