Welcome to our dedicated page for BKV SEC filings (Ticker: BKV), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
BKV Corporation filings document the formal disclosures of an emerging growth energy company with NYSE-listed common stock. Its 8-K reports cover operating and financial results, Regulation FD materials, material definitive agreements, equity offering activity, registration rights and capital-structure matters tied to its common stock.
Proxy and governance filings describe shareholder voting matters, board and executive compensation disclosures, and public-company governance practices. The filing record also documents closed transactions affecting BKV's power business, including increased ownership of BKV-BPP Power, alongside disclosures about upstream, midstream, gas-fired power and CCUS operations.
BKV Corp's Chief Accounting Officer, Barry S. Turcotte, reported a tax-related share withholding on Common Stock. On March 3, 2026, 1,105 shares of Common Stock were disposed of at $31.27 per share to satisfy tax withholding obligations upon the vesting of previously granted restricted stock units. After this net settlement, Turcotte directly owns 15,098 shares of BKV Corp Common Stock. The board of directors approved this net share settlement under Rule 16b-3, indicating an administrative transaction rather than an open-market trade.
BKV Corporation reported a strong turnaround for 2025, moving from a prior-year loss to net income of $173.1 million, or $1.98 per diluted share. Total 2025 revenues and other operating income reached $1.0 billion, while Adjusted Net Income was $121.6 million and Combined Adjusted EBITDAX attributable to BKV was $390.0 million.
The company grew average net production to 835.5 MMcfe/d and expanded total proved reserves to 5,921 Bcfe at SEC pricing, an 89% increase driven by higher prices, drilling revisions and the Bedrock acquisition. Liquidity remained strong with $199.4 million of cash, total liquidity of $984.4 million and a net leverage ratio of 0.92x, even as 2025 Adjusted Free Cash Flow attributable to BKV was modest at $1.3 million due to $318.5 million of capital spending and growth investments in power and CCUS.
BKV Corporation reported the final 2025 performance-based bonuses and updated total compensation for its named executive officers. CEO Christopher P. Kalnin earned a non-equity incentive bonus of $1,676,401, bringing his 2025 total compensation to $5,903,801. President – Upstream Eric S. Jacobsen received a bonus of $816,354 and total compensation of $4,306,883, while Chief Commercial Officer Dilanka Seimon earned a prorated bonus of $497,537 and total compensation of $3,445,756.
The bonuses were based on target percentages of base salary—125% for the CEO and 95% for the other two executives—split 50% on company key performance indicators and 50% on individual goals. The KPI scorecard emphasized shareholder value metrics, sustainability, and operational and strategic indicators, including adjusted EBITDAX, adjusted free cash flow, unit cash costs, production, capital efficiency, CCUS and carbon-neutral gas progress, and major systems and organizational buildout.
Banpu-affiliated entities report majority ownership in BKV Corporation following a recent equity-and-cash transaction. Banpu Public Company Limited and its subsidiaries together beneficially own 69,193,004 shares of BKV common stock, representing 67.65% of the outstanding shares as of January 30, 2026.
The position includes 63,877,614 shares held by Banpu North America Corporation, acquired before BKV’s September 2024 offering, and 5,315,390 newly issued shares received by Banpu Power US Corporation. Those new shares were issued as part of BKV’s purchase of 25% of BKV-BPP Power, LLC from Banpu Power US for approximately $115.1 million in cash and stock, with the shares subject to a 180-day lock-up.
Banpu has registration rights for both the new shares and the large pre-IPO stake, and a stockholders’ agreement gives Banpu the right to designate proportional board representation and, while it holds at least 25% of voting power, the chairman of BKV’s board. As of this report, no shares have been sold under the existing resale registration statement.
BKV Corporation obtained stockholder approval by written consent to amend and restate its 2024 Equity and Incentive Compensation Plan, increasing the shares of common stock available for awards by 2,500,000 to a total reserve of 7,500,000 shares.
The approval was given by Banpu North America Corporation, which holds about 66% of BKV’s outstanding common stock, so no stockholder meeting or additional vote will be held. The amended plan, effective on or after March 5, 2026, supports granting restricted stock, RSUs, performance awards, appreciation rights and other equity-based incentives to directors, officers and employees.
The filing also details director cash retainers and equity grants, executive employment terms, significant stock-based compensation for named executive officers, and the ownership concentration of BKV shares, with BNAC controlling roughly two‑thirds of the voting power.
BKV Corp. reported that affiliates of Banpu received additional BKV common shares as part of a closing payment under a membership interest purchase agreement. On January 30, 2026, Banpu Power US Corporation was issued 5,315,390 shares of common stock as 50% of the closing consideration for transferring one-half of its interest in BKV-BPP Power LLC to BKV.
The number of shares was calculated by dividing 50% of the purchase price by $21.6609, the volume‑weighted average BKV share price over the 20 trading days ended October 28, 2025. Following this issuance, Banpu Power US Corporation and its parent entities are reported as indirectly beneficially owning 69,193,004 BKV shares, while another Banpu affiliate, Banpu North America Corporation, is reported as indirectly beneficially owning 63,877,614 BKV shares.
Banpu Power Public Company Limited and its wholly owned subsidiary Banpu Power US Corporation jointly filed an initial Form 3 reporting their beneficial ownership in BKV Corp.
The filing shows indirect ownership of 5,315,390 shares of BKV Corp common stock, held directly by Banpu Power US Corporation and indirectly by Banpu Power Public Company Limited as part of a 10% owner group. The filing records an existing stake rather than a new transaction.
BKV Corporation has completed its acquisition of an additional interest in the BKV-BPP Power joint venture, increasing its ownership to 75% and leaving Banpu Power US Corporation with 25%. The joint venture owns two combined-cycle gas and steam turbine power plants in Temple, Texas, and will now be consolidated into BKV’s financial results.
BKV paid an aggregate purchase price based on a $376.0 million valuation formula, including $115.1 million in cash and 5,315,390 shares of BKV common stock, with the stock issued at a reference price of $21.6609 per share and locked up for 180 days. A new registration rights agreement grants Banpu Power US Form S-3 demand and piggyback rights for these shares. An amended and restated LLC agreement gives BKV board control, operational authority, and unilateral power over certain new power investments, while preserving specified consent rights for Banpu Power US on major reserved matters.
BKV Corporation reports a key step toward closing its previously announced power investment. On October 29, 2025, BKV agreed to acquire one-half of the limited liability company interests in BKV-BPP Power, LLC from Banpu Power US Corporation, a subsidiary of Banpu Power Public Company Limited.
On January 29, 2026, Banpu Power held an extraordinary general meeting where at least 75% of disinterested shareholders attending approved the transaction in accordance with Thai law. This update is furnished under Regulation FD to inform the market that the shareholder approval condition at Banpu Power has been satisfied.
BKV Corporation has approved an amended and restated 2024 Equity and Incentive Compensation Plan that increases the shares of common stock reserved for equity awards by 2,500,000, bringing the total plan pool to 7,500,000 shares. The change was approved by written consent of Banpu North America Corporation, which holds about 66% of BKV’s outstanding common stock, so no stockholder meeting or additional vote will be held.
The plan allows grants of nonqualified stock options, stock appreciation rights, restricted stock, RSUs, performance shares, performance units, cash incentives and other stock-based awards to directors, officers and employees. As of December 31, 2025, 452 employees and 11 non-employee directors were eligible to participate. The document also details director retainers and RSU grants, executive salaries, bonuses, long-term incentive awards, severance terms, and a beneficial ownership table showing BNAC as the majority owner. Stockholders do not have appraisal or dissenters’ rights related to this plan amendment.