Tamboran Resources Corp 8-K

What Happened
Tamboran Resources Corporation announced that its Board appointed Todd Abbott as Chief Executive Officer effective January 15, 2026. Abbott (age 52) succeeds Richard Stoneburner, who had been Interim CEO since July 28, 2025 and will remain Chairman of the Board and resume his status as an independent director after Abbott assumes the CEO role. The company issued a press release on January 12, 2026, and filed the related employment agreement and side letter as exhibits to the 8-K.

Key Details

• Appointment and timing: Board action dated January 10, 2026; Abbott’s start date January 15, 2026.
• Cash pay and bonus: Initial base salary $550,000 and annual short-term incentive target equal to 100% of eligible earnings (discretionary, board-determined). One-time sign-on bonus $100,000 (repayable in full if Abbott resigns or is fired for cause within 12 months).
• Equity awards: Long-term RSU award covering 65,320 shares (50% time-based vesting over 3 years; 50% performance-vesting tied to 3-year TSR vs. S&P SmallCap 600 Energy or another Board-selected index). Make-Whole RSUs with an aggregate value of $3,250,000 vesting on the third anniversary. Under the side letter, pro-rata vesting may occur on termination for cause/good reason and full vesting on a change in control.
• Severance and other terms: If terminated without cause, Abbott is eligible for 24 months’ base salary and up to 18 months of employer COBRA premium payments (subject to a release). Relocation to Brisbane, Australia is expected before July 31, 2027 with up to $150,000 reimbursed; the agreement terminates if required Australian work/entry documents are not obtained by July 30, 2027. Company will reimburse certain tax-prep and legal fees and provide two round-trip spouse tickets to Australia.

Why It Matters
This 8-K signals a permanent CEO appointment after a period with an interim chief, which is a material leadership change investors often watch closely. Abbott’s compensation mix — significant equity linked to total shareholder return (TSR) versus a benchmark index, a large make-whole RSU grant, and severance protections — aligns a portion of pay with shareholder returns but also creates potential dilution from equity awards and possible cash/severance obligations. The relocation requirement to Brisbane and visa condition are notable operational and execution items that could affect Abbott’s tenure if not satisfied.