PEDEVCO CORP 8-K

What Happened

• PEDEVCO Corp. (PED) filed an 8-K (Item 5.02) reporting that Paul Pinkston’s employment terminated on June 23, 2026. On July 15, 2026 the company and Mr. Pinkston executed a Separation and General Release Agreement covering the terms of his departure.
• Under the agreement the company will pay Mr. Pinkston $80,885 in cash as a severance payment; Mr. Pinkston agreed to forfeit all unvested stock, restricted stock units (RSUs), and performance-based RSUs and provided a release and customary confidentiality obligations. The Separation Agreement becomes effective on the eighth day after Mr. Pinkston’s acceptance if he does not revoke it.

Key Details

• Date of termination: June 23, 2026.
• Separation Agreement dated: July 15, 2026.
• Cash severance: $80,885.
• All unvested equity (stock, RSUs, performance RSUs) forfeited per award terms; agreement includes release and confidentiality provisions; full agreement filed as Exhibit 10.1.

Why It Matters

• This is a formal disclosure of an officer departure and the financial/compensation terms tied to that exit. The severance payment is a one-time cash outlay; forfeiture of unvested equity reduces potential future dilution and ongoing equity expense related to those awards. Retail investors should note the management change and can review the filed Separation Agreement (Exhibit 10.1) for full terms.