Tellurian Inc. (NASDAQ:TELL) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
The information set forth in Item 8.01 below is incorporated
herein by reference.
| Item5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
The information set forth in Item 8.01 below is incorporated
herein by reference.
On February24, 2017, the Compensation Committee of the Board of
Directors of Tellurian Inc. (the Company) granted awards of
shares of common stock of the Company under the Companys 2016
Omnibus Incentive Compensation Plan to the following named
executive officers of the Company in the following amounts in
connection with bonuses for the fiscal year ended December31,
2016:
|
Name |
Current Position |
NumberofSharesof Common Stock | ||||
|
Meg A. Gentle |
PresidentandChiefExecutiveOfficer | 14,124 | ||||
|
R. Keith Teague |
ExecutiveVicePresidentandChief Operating Officer | 3,531 | ||||
|
Daniel A. Belhumeur |
General Counsel |
4,061 |
The number of shares of common stock issued to each of Ms. Gentle
and Messrs. Teague and Belhumeur was determined by dividing
$200,000, $50,000 and $57,500, respectively, by the average
closing price of Tellurian common stock over the five trading
days from February16, 2017 to February 23, 2017.
A form stock award agreement (Form Stock Award Agreement) is
filed as Exhibit 10.1 to this Current Report on Form 8-K
and incorporated herein by reference.The Form Stock Award
Agreement sets out the terms under which the equity awards were
made to each of Ms. Gentle and Messrs. Teague and Belhumeur and
does not include any vesting requirements relating to the
awards.The foregoing summary is qualified in its entirety by the
terms of the Form Stock Award Agreement.
| Item8.01 | Other Events. |
The Company is in the process of executing indemnification
agreements with each member of the board of directors of the
Company. The indemnification agreements generally provide that
the Company will provide indemnification to, and advance expenses
of, each director to the maximum extent permitted by Delaware
law.
The foregoing description of the indemnification agreements does
not purport to be complete and is qualified in its entirety by
reference to the form of the Companys indemnification agreement
which is filed as Exhibit 10.2 to this Current Report on
Form 8-K and incorporated herein by reference.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
See Exhibit Index.
About Tellurian Inc. (NASDAQ:TELL)
Tellurian Inc., formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc. The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia. The Horse Hill-1 well has identified prospects from the Portland sandstone and Kimmeridge Clay limestone formations. Tellurian Inc. (NASDAQ:TELL) Recent Trading Information
Tellurian Inc. (NASDAQ:TELL) closed its last trading session down -2.61 at 17.86 with 931,351 shares trading hands.