Summary
Diamondback Energy, Inc. (FANG) filed an 8-K on March 30, 2023, primarily to announce the impending retirement of a long-standing Board member, Michael P. Cross. Mr. Cross, who has served on the Board since the company's IPO and held positions on multiple committees including Audit, Compensation, and Nominating and Corporate Governance, has decided not to stand for re-election at the upcoming 2023 Annual Meeting of Stockholders. His departure is attributed to his retirement and not to any disagreements with the company. This transition marks the end of Mr. Cross's tenure, which spans over a decade. The company expressed gratitude for his dedicated service and contributions to the Board and its committees. The announcement was made public via a press release issued on March 30, 2023, which is furnished as part of this filing.
Key Highlights
- 1Michael P. Cross, a long-serving Board member since FANG's IPO, will retire and not stand for re-election at the 2023 Annual Meeting.
- 2Mr. Cross's decision is for retirement purposes and not due to any disagreement with the Company.
- 3He has been an active member of various Board committees, including Audit, Compensation, and Nominating and Corporate Governance.
- 4The company expressed gratitude for Mr. Cross's decade-plus commitment and service.
- 5The announcement was made via a press release furnished with the 8-K filing.