8-KLeadership ChangesExhibits & Filings

EOG RESOURCES INC 8-K Report, Executive Changes (Sep 23, 2020)

Filed September 23, 2020For Securities:EOG

Summary

EOG Resources, Inc. (EOG) announced the appointment of Michael T. Kerr to its Board of Directors, effective October 5, 2020. Mr. Kerr brings extensive experience, with over 36 years in investment management, including significant time as an equity portfolio manager and analyst covering the oil and gas sector. His background as an exploration geophysicist also adds valuable technical expertise to the board. Mr. Kerr's appointment is a strategic move to enhance the board's oversight and expertise, particularly in areas relevant to EOG's operations and financial strategy. Investors can view this as a positive step towards strengthening corporate governance and strategic decision-making. He will serve on the Audit, Compensation, and Nominating, Governance and Sustainability Committees, further embedding his contributions across key board functions. His compensation will align with other non-employee directors, including a quarterly cash retainer and a grant of restricted stock units (RSUs) vesting after one year.

Key Highlights

  • 1Appointment of Michael T. Kerr to the Board of Directors, effective October 5, 2020.
  • 2Mr. Kerr has over 36 years of investment experience, including 35 years with Capital Group.
  • 3He has experience as an equity portfolio manager and analyst covering oil and gas companies.
  • 4Mr. Kerr's background includes serving as an exploration geophysicist.
  • 5He will serve on the Audit, Compensation, and Nominating, Governance and Sustainability Committees.
  • 6Compensation for Mr. Kerr will consist of a quarterly cash retainer and restricted stock units (RSUs) with a one-year cliff vest.
  • 7The filing also includes a press release dated September 23, 2020, and exhibits.

Frequently Asked Questions

Michael T. Kerr is a newly appointed director to the EOG Resources Board, effective October 5, 2020. He brings a wealth of experience with over 36 years in investment management, including significant expertise in the oil and gas sector as an equity portfolio manager and analyst. His prior experience as an exploration geophysicist also provides valuable technical insight for the company.

Mr. Kerr has been appointed to serve on the Audit, Compensation, and Nominating, Governance and Sustainability Committees of the EOG Resources Board.

Mr. Kerr will receive compensation consistent with other non-employee directors. This includes a quarterly cash retainer and a grant of restricted stock units (RSUs) which will vest one year from the grant date (cliff vesting).

His background as an exploration geophysicist and his extensive experience analyzing oil and gas companies as an investment professional provide EOG's board with deep industry-specific knowledge. This dual perspective of operational understanding and financial market insight can be highly beneficial for strategic decision-making and corporate oversight.