8-KLeadership ChangesExhibits & Filings

EOG RESOURCES INC 8-K Report, Executive Changes (Sep 20, 2017)

Filed September 20, 2017For Securities:EOG

Summary

EOG Resources, Inc. (EOG) announced a key addition to its Board of Directors, effective October 1, 2017. C. Christopher Gaut has been appointed to the Board and will serve on its Audit, Compensation, and Nominating and Governance Committees. Mr. Gaut brings significant executive experience, having founded and led Forum Energy Technologies, Inc. as its Chairman and CEO. His appointment is expected to bring valuable industry insights and governance experience to EOG's leadership. In terms of compensation, Mr. Gaut will receive standard director compensation, including a quarterly cash retainer consistent with other non-employee directors. Additionally, he will be granted restricted stock units (RSUs) under EOG's equity compensation plan. This RSU grant, valued based on EOG's stock price on the grant date of October 2, 2017, will vest one year from the grant date. Investors should note this as part of the company's ongoing strategy to align executive and director compensation with shareholder value.

Key Highlights

  • 1C. Christopher Gaut appointed to EOG Resources Board of Directors and key committees (Audit, Compensation, Nominating & Governance) effective October 1, 2017.
  • 2Mr. Gaut brings extensive experience as the founding Chairman and CEO of Forum Energy Technologies, Inc.
  • 3His appointment is expected to enhance the Board's expertise in the oilfield industry and corporate governance.
  • 4Mr. Gaut will receive a quarterly cash retainer for his director services, consistent with other non-employee directors.
  • 5He will also receive a grant of Restricted Stock Units (RSUs) under EOG's equity compensation plan.
  • 6The RSU grant will vest one year from the grant date (October 2, 2017) and will be valued based on EOG's stock price on that date.
  • 7A press release dated September 20, 2017, provides additional biographical information on Mr. Gaut.

Frequently Asked Questions

C. Christopher Gaut is a new appointee to EOG Resources' Board of Directors, effective October 1, 2017. His significance lies in his substantial executive experience, including founding and leading Forum Energy Technologies, Inc. as its Chairman and CEO. This background is expected to provide valuable industry and governance insights to EOG's Board.

Mr. Gaut will receive compensation similar to other non-employee directors. This includes a standard quarterly cash retainer and a grant of Restricted Stock Units (RSUs) under EOG's equity compensation plan. The RSU grant will vest one year from its effective date of October 2, 2017.

Mr. Gaut's appointment is likely to strengthen EOG's Board with his operational and leadership experience in the oilfield sector. His service on the Audit, Compensation, and Nominating and Governance Committees suggests a focus on enhancing corporate oversight and strategic decision-making.

The Restricted Stock Units (RSUs) granted to Mr. Gaut will be valued based on the closing price of EOG's common stock on October 2, 2017, the grant effective date. These RSUs will 'cliff' vest, meaning they will all vest in a single installment one year from the date of grant.