PARSLEY ENERGY, INC. (NYSE:PE) 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.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Energy, Inc. (the Company), upon the recommendation of its
Nominating and Governance Committee, appointed Jerry Windlinger to
the Board as a Class II director, with a term expiring at the 2019
annual meeting of stockholders, and until he is either re-elected
or his successor is elected and qualified. The Board determined
that Mr. Windlinger meets the independence requirements under the
rules of the New York Stock Exchange and the Companys independence
standards, and that there are no transactions between the Company
and Mr. Windlinger that would require disclosure under Item 404(a)
of Regulation S-K.
entered into an indemnification agreement which requires the
Company to indemnify him to the fullest extent permitted under
Delaware law against liability that may arise by reason of his
service as a director, and to advance expenses incurred as a result
of any proceeding against him as to which he could be indemnified.
The foregoing description of the indemnification agreement is not
complete and is qualified in its entirety by reference to the full
text of the indemnification agreement, which is attached as Exhibit
10.1 to this Current Report on Form 8-K and incorporated into this
Item 5.02 by reference.
compensation for serving on the Board. The specific terms of such
compensation are described further in the Company’s annual proxy
statement that was filed with the Securities and Exchange
Commission on April 22, 2016. Any compensation paid to Mr.
Windlinger in 2016 will be prorated from the date of his
appointment through the end of the fiscal year.
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Item 7.01.
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Regulation FD Disclosure.
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Mr. Windlinger to the Board is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by reference.
be deemed to be filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the Exchange Act), or otherwise
subject to the liabilities of that section, and is not incorporated
by reference into any filing under the Securities Act of 1933, as
amended, or the Exchange Act.
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Item 9.01.
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit No.
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Description
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10.1
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Indemnification Agreement, dated as of December 21, 2016,
by and between the Company and Jerry Windlinger. |
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99.1
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News Release, dated December 21, 2016, titled Parsley
Energy Announces Appointment of Jerry Windlinger to its Board of Directors. |
About PARSLEY ENERGY, INC. (NYSE:PE)
Parsley Energy, Inc. is an independent oil and natural gas company. The Company is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company’s properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Company’s vertical wells in the Permian Basin are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations. The Company splits its assets into over four areas, including the Midland Basin-Core, Midland Basin-Tier I, Midland Basin-Other and Southern Delaware Basin. PARSLEY ENERGY, INC. (NYSE:PE) Recent Trading Information
PARSLEY ENERGY, INC. (NYSE:PE) closed its last trading session down -0.31 at 35.52 with 2,982,854 shares trading hands.