Corporate GovernanceJun 18, 2026, 05:22 PM
Battalion Oil Approves New Director & Change-in-Control Comp Plans
AI Summary
Battalion Oil Corporation's Board of Directors approved an updated compensation program for non-employee directors, effective July 1, 2026. This includes an annual cash retainer of $225,000 for each director, with additional retainers for the Chairman and committee chairs. The Board also approved new change-in-control related compensation arrangements, including a $5.0 million cash bonus pool and a performance-based Waterfall Merger Incentive Program, both expiring December 31, 2030. Additionally, the Board confirmed the vesting of 35,419 restricted stock units from the 2020 Long-Term Incentive Plan.
Key Highlights
- Battalion Oil approved an updated non-employee director compensation program, effective July 1, 2026.
- Each non-employee director will receive an annual cash retainer of $225,000.
- The Chairman of the Board will receive an additional annual cash retainer of $75,000.
- Committee chairs will each receive an additional annual cash retainer of $25,000 per committee chaired.
- A new Retention and Incentive Plan establishes a $5.0 million cash bonus pool for executive officers and key employees upon a change in control.
- The bonus pool will be subject to annual adjustment based on CPI-U plus 200 basis points starting January 1, 2027, and expires December 31, 2030.
- A Waterfall Merger Incentive Program was approved, with payouts ranging from 10% to 20% of the increase in company value above a Base Amount.
- The vesting condition for 35,419 restricted stock units awarded on February 20, 2020, under the 2020 Long-Term Incentive Plan has been satisfied.
Price Impact
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