Pedevco (PED) has released an update to notify the public and investors about its officers.
PEDEVCO Corp. issued 2,105,000 shares of restricted common stock and options to buy 460,000 shares as part of their 2023 annual compensation review under the 2021 Equity Incentive Plan. These awards were granted to various officers and employees for services rendered and to be rendered, with specific allocations to key executives, all subject to three-year vesting terms contingent on continued service. Additionally, the company approved a 5% salary increase for certain executives and granted cash bonuses to three top executives, with no written agreements documenting the salary increases.
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