Crook Jody D. 4
4 · PEDEVCO CORP · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
PEDEVCO (PED) CCO Jody Crook Receives 23,070 RSU/PBRSU Awards
What Happened
Jody D. Crook, PEDEVCO Corp.'s Chief Commercial Officer, received equity awards on 2026-06-22: 16,050 time‑based Restricted Stock Units (RSUs) and 7,020 Performance‑Based Restricted Stock Units (PBRSUs). Both awards were reported as grants at $0.00 (no cash paid at grant); they are derivative awards that convert to shares upon vesting rather than open‑market purchases or sales.
Key Details
- Transaction date: 2026-06-22; Form 4 filed 2026-06-23 (timely filing). Transaction code: A (award/grant).
- Award amounts: 16,050 RSUs (time‑based) and 7,020 PBRSUs (performance‑based). Total target units = 23,070.
- Economic terms: Grants reported at $0.00 (no cash outlay at grant). PBRSUs pay out 0%–200% of target based on relative total shareholder return vs. peers, so PBRSU payout could range from 0 to 14,040 shares. Combined potential shares at vesting: 16,050 to 30,090 shares depending on PBRSU performance.
- Vesting: RSUs vest 1/3 each year on the 1st, 2nd and 3rd anniversaries of the vesting commencement date (VCD = Jan 1, 2026). PBRSUs cliff‑vest subject to performance on Dec 31, 2028, and continued service.
- Shares owned after transaction: Not stated in the provided filing.
- Other: Awards issued under the Issuer’s 2021 Equity Incentive Plan. See Form 3 Exhibit 24 Power of Attorney referenced in the filing.
Context
These are compensation awards (derivatives) rather than open‑market buying or selling. Time‑based RSUs provide a predictable, multi‑year vesting schedule; PBRSUs are performance contingent and can pay out up to 200% of target if performance metrics are met. Such grants are routine for executive compensation and do not by themselves indicate an immediate cash value until shares vest.
Insider Transaction Report
- Award
Restricted Stock Unit
[F1][F3]2026-06-22+16,050→ 16,050 total→ Common Stock (16,050 underlying) - Award
Performance-Based Restricted Stock Unit
[F2][F4][F5]2026-06-22+7,020→ 7,020 total→ Common Stock (7,020 underlying)
- 33,417
Common stock
Footnotes (5)
- [F1]Each Restricted Stock Unit represents the contingent right to receive, at vesting and upon settlement, one share of common stock.
- [F2]Each Performance-Based Restricted Stock Unit represents the contingent right to receive, at vesting and upon settlement, shares of common stock of the Issuer. The actual number of shares issuable upon vesting may range from 0% to 200% of the target award based upon the level of achievement of the applicable performance criteria.
- [F3]The Restricted Stock Units (RSUs) vest, if at all, at the rate of (i) 1/3 of the total number of RSUs on the one (1) year anniversary of the January 1, 2026 vesting commencement date (the VCD); (ii) 1/3 of the total number of RSUs on the two (2) year anniversary of the VCD; and (iii) 1/3 of the total number of RSUs on the three (3) year anniversary of the VCD, subject to the Reporting Persons continued service to the Company on such vesting dates, and subject to the terms and conditions of a Restricted Stock Unit Award Grant Agreement entered into between the Company and the Reporting Person. RSUs do not expire; they either vest or are forfeited prior to vesting date. Issued under the Issuers 2021 Equity Incentive Plan.
- [F4]The Performance-Based Restricted Stock Units (PBRSUs), which PBRSUs will be earned based on the performance metrics applicable to the Issuers performance-based equity award program previously approved for management for the fiscal 2026 through fiscal 2028 performance period, which generally provide for the cliff-vesting of 100% of the PBRSUs on December 31, 2028, subject to the Reporting Persons continued service through that date and based on the Issuers total shareholder return (TSR) over the period, with payout ranging from 0% to 200% of target based on relative TSR percentile ranking against a defined peer group, and further subject to the terms and conditions of a Performance-Based Restricted Stock Unit Award Grant Agreement entered into between the Issuer and the Reporting Person. PBRSUs do not expire; they either vest or are forfeited prior to vesting. Issued under the Issuers 2021 Equity Incentive Plan.
- [F5]The Target number of shares is reported. Possible payout ranges from 0% to 200%, based on the level of achievement of the applicable performance criteria during the applicable performance period.