PEDEVCO CORP 8-K

What Happened

• PEDEVCO Corp announced on June 22, 2026 (via an 8-K) that, following its 2025 annual compensation review, it awarded restricted stock units (RSUs) and performance-based restricted stock units (PBRSUs) under its 2021 Equity Incentive Plan.
• The grants total 96,630 RSUs (rights to that many shares on vesting) and 38,320 target PBRSUs (representing up to 76,640 shares at maximum payout). Major named recipients include CEO J. Douglas Schick, EVP & General Counsel Clark Moore, and CCO Jody Crook.

Key Details

• Grant date: June 22, 2026; awards tied to the Company’s 2025 compensation review and issued under the 2021 Equity Incentive Plan.
• RSU vesting: 1/3 on each anniversary of the January 1, 2026 vesting commencement date (three-year ratable vesting), subject to continued service.
• PBRSU vesting: Cliff vesting on December 31, 2028, payout 0–200% of target based on relative total shareholder return (TSR) vs. a peer group (up to two shares per PBRSU), subject to continued service.
• Named allocations: CEO Schick — 22,830 RSUs and 15,220 PBRSUs; Clark Moore — 18,950 RSUs and 5,270 PBRSUs; Jody Crook — 16,050 RSUs and 7,020 PBRSUs; remaining amounts to other non‑executive employees.
• Grant agreements and award forms are filed as exhibits to the 8-K.

Why It Matters

• These awards align executive and employee pay with company performance (especially via TSR‑based PBRSUs) and may increase diluted share count if awards vest and settle.
• Investors should note the timing and structure: time‑based RSUs vest over three years while PBRSUs depend on multi‑year relative TSR performance, affecting when and how many shares could be issued and how compensation expense may be recognized.