Vanguard Natural Resources, Inc. (OTCMKTS:VNRSQ) 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.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

2017 Management Incentive Plan

On August 22, 2017, the Company’s Compensation Committee (“Committee”) recommended the approval of, and the Company’s board of directors approved, the Vanguard Natural Resources, Inc. 2017 Management Incentive Plan (the “2017 Plan”), which will assist the Company in attracting, motivating and retaining key personnel and will align the interests of participants with those of shareholders.

The maximum number of shares of common stock available for issuance under the 2017 Plan is 2,233,333 shares.

The 2017 Plan will be administered by the Committee or, in certain instances, its designee.

Employees, directors, and consultants of the Company and its subsidiaries will be eligible to receive awards of stock options, restricted stock, restricted stock units or other stock-based awards at the Committee or its designee's discretion.

The Board may amend, modify, suspend, or terminate the 2017 Plan in its discretion; however no amendment, modification, suspension or termination may materially and adversely affect any award previously granted without the consent of the participant or the permitted transferee of the award. No grant will be made under the 2017 Plan more than 10 years after its effective date.

The foregoing description is qualified in its entirety by reference to the full text of the 2017 Plan, which is incorporated by reference herein in its entirety.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Vanguard Natural Resources, Inc. Exhibit
EX-10.1 2 ex101mip.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Vanguard Natural Resources,…
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About Vanguard Natural Resources, Inc. (OTCMKTS:VNRSQ)

Vanguard Natural Resources, Inc is an independent oil and gas company. The Company is focused on the acquisition and development of oil and natural gas properties in the United States. Through its operating subsidiaries, the Company owns properties, and oil and natural gas reserves primarily located in over 10 operating basins: the Green River Basin in Wyoming; the Permian Basin in West Texas and New Mexico; the Gulf Coast Basin in Texas, Louisiana, Mississippi and Alabama; the Anadarko Basin in Oklahoma and North Texas; the Piceance Basin in Colorado; the Big Horn Basin in Wyoming and Montana; the Arkoma Basin in Arkansas and Oklahoma; the Williston Basin in North Dakota and Montana; the Wind River Basin in Wyoming, and the Powder River Basin in Wyoming.

Vanguard Natural Resources, Inc. (OTCMKTS:VNRSQ) Recent Trading Information

Vanguard Natural Resources, Inc. (OTCMKTS:VNRSQ) closed its last trading session at 0.0344 with 5,370,569 shares trading hands.