SWIFT ENERGY COMPANY (OTCMKTS:SFYWQ) 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 |
filed August 8, 2016 and October 13, 2016, Alton D. Heckaman, Jr.
will continue to serve as Executive Vice President and Chief
Financial Officer of the Company, or in such other position as is
mutually acceptable to Mr. Heckaman and the Company, for a term
ending on the earlier to occur of (a) March 31, 2017, and (b) a
date on or after January 15, 2017 that is determined by the
Company.
connection with Mr. Heckamans continued service to the Company as
described above, the Company entered into an amendment to the
Third Amended and Restated Employment Agreement, dated and
effective as of April 22, 2016, by and between the Company and
Mr. Heckaman (the Amendment). The Amendment provides that Mr.
Heckaman shall receive a cash bonus of $300,000 on or prior to
March 31, 2017, in lieu of any annual discretionary incentive
bonus payment that he may have been eligible to receive for the
bonus year ended December 31, 2016. In addition, the Amendment
provides that Mr. Heckaman will receive accelerated vesting of
any outstanding unvested equity awards held by Mr. Heckaman on
November 15, 2016.
reference to the full text of the Amendment, which is attached
hereto as Exhibit 10.1 and incorporated by reference herein. A
summary of the Third Amended and Restated Employment Agreement
between Mr. Heckaman and the Company is included in the Companys
Form 8-K filed April 28, 2016, along with the full agreement as
Exhibit 10.7.
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Item 9.01
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Financial Statements and Exhibits
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Exhibit Number
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Description
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10.1
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Amendment to Third Amended and Restated Employment
Agreement effective as of November 15, 2016 |
About SWIFT ENERGY COMPANY (OTCMKTS:SFYWQ)
Swift Energy Company (Swift Energy) is an independent oil and gas company. The Company is engaged in developing, exploring, acquiring and operating oil and gas properties. The Company’s primary focus is on the Eagle Ford trend of South Texas and the onshore and inland waters of Louisiana. The Company’s operations are primarily focused in approximately three areas identified as South Texas, Southeast Louisiana and Central Louisiana. Swift Energy holds an acreage position in Texas prospective for Eagle Ford shale and Olmos tight sands development. The Company’s assets in South Texas include AWP, Artesia Wells and Fasken. The Company’s assets in Southeast Louisiana include Lake Washington. The Company’s assets in Central Louisiana include Burr Ferry and South Bearhead Creek. The Company’s Burr Ferry field is located in Vernon Parish, Louisiana. Its South Bearhead Creek is located in Beauregard Parish, Louisiana. SWIFT ENERGY COMPANY (OTCMKTS:SFYWQ) Recent Trading Information
SWIFT ENERGY COMPANY (OTCMKTS:SFYWQ) closed its last trading session at 0.218 with 323,935 shares trading hands.
