RSP PERMIAN, INC. (NYSE:RSPP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May24, 2017, RSP Permian,Inc. (the Company) announced the
appointment of Uma L. Datla as its Chief Accounting Officer,
effective July10, 2017 (the Effective Date). Ms.Datla will be the
Companys principal accounting officer reporting to the Companys
Chief Financial Officer, Scott McNeill.
Ms.Datla, age 37, had most recently served as Chief Accounting
Officer of publicly-listed Approach Resources Inc. (Approach)
since May 2014. Previously, Ms.Datla served as Director of
Financial Reporting at Approach from August 2013 until May 2014.
Prior to joining Approach, Ms.Datla served in progressive
positions of responsibility at Ernst Young LLP since September
2005, and was a Manager prior to leaving to join Approach in
August 2013. Ms.Datla is a Certified Public Accountant and
received a Masters of Professional Accounting from the University
of Texas at Arlington in 2005 and a Bachelors in Science and
Technology Development from Birla Institute of Technology and
Science in 2000.
Ms.Datla has no family relationships with any director, executive
officer, or person nominated or chosen by the Company to become a
director or executive officer of the Company. Ms.Datla is not a
party to any transaction required to be disclosed to Item
404(a)of Regulation S-K.
Ms.Datla will receive salary, bonus and future equity
opportunities, and will participate in other benefit and
compensation plans, at levels consistent with her position and
scope of responsibility. Ms.Datla will receive a grant of
restricted common stock of the Company under the Companys 2014
Long-Term Incentive Plan on the Effective Date, which restricted
common stock will vest in three equal, separate installments on
January1, 2018, July10, 2019 and July10, 2020.
Ms.Datla will enter into the Companys standard form of
indemnification agreement. This indemnification agreement
requires the Company to indemnify Ms.Datla to the fullest extent
permitted under Delaware law against liability that may arise by
reason of her service to the Company, and to advance expenses
incurred as a result of any proceeding against her as to which
she could be indemnified. The foregoing description is qualified
in its entirety by reference to the full text of the form of
indemnification agreement, which is incorporated by reference as
Exhibit10.1 to this Current Report on Form8-K and incorporated in
this Item 5.02 by reference.
| Item7.01 | Regulation FD Disclosure. |
On May24, 2017,
the Company issued a press release announcing the appointment of
Ms.Datla as its Chief Accounting Officer.A copy of this press
release is furnished as Exhibit99.1 to this Current Report on
Form8-K.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
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Exhibit No. |
Description |
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| 10.1 |
Indemnification Agreement (incorporated by reference to Exhibit10.4 to Amendment No.2 to RSP Permian,Inc.s Registration Statement on FormS-1, filed on January2, 2014, File No.333-192268). |
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| 99.1 | Press Release dated May24, 2017. |
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About RSP PERMIAN, INC. (NYSE:RSPP)
RSP Permian, Inc. is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The Company operates through the oil and natural gas exploration and production industry in the United States segment. The Company’s properties are located on contiguous acreage blocks in the Midland Basin, a sub-basin of the Permian Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector and Glasscock. The Company has drilled Lower Spraberry horizontal well and a Middle Spraberry horizontal well in the Permian Basin. In addition, it has also drilled a Wolfcamp B horizontal well in the North Midland Basin. The Company’s estimated proved oil and natural gas reserves are approximately 159.2 million barrels of oil equivalent (MMBoe). Of the Company’s reserves, approximately 41% were classified as Proved developed producing. RSP PERMIAN, INC. (NYSE:RSPP) Recent Trading Information
RSP PERMIAN, INC. (NYSE:RSPP) closed its last trading session up +0.02 at 39.25 with 2,359,085 shares trading hands.