Gulfport Energy (NYSE: GPOR) CEO John Reinhart exits, new leadership team formed
Rhea-AI Filing Summary
Gulfport Energy Corporation announced that John Reinhart, its President, Chief Executive Officer and Director, has resigned from all roles effective immediately. The company states his decision was not due to any disagreement over operations, policies or practices.
The Board has created an Office of the Chairman, led by Chairman Timothy J. Cutt, to guide the company while an executive search firm helps identify a new Chief Executive Officer. Other members are Michael Hodges (CFO), Matthew Rucker (COO) and Patrick Craine (Chief Legal and Administrative Officer).
In connection with leading the Office of the Chairman, Mr. Cutt will receive an equity award of approximately $1,000,000 in time-based restricted stock units vesting over three years, subject to his continued Board service. To support continuity, Hodges, Rucker and Craine each entered Retention Agreements providing a cash payment equal to base salary, paid half on hiring a new CEO and half six months later, with different outcomes depending on whether they are terminated for cause, without cause or leave for good reason.
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- Immediate CEO and director resignation introduces leadership uncertainty at Gulfport Energy, as John Reinhart departs all roles effective immediately despite the company stating there was no disagreement over operations or policies.
Insights
Sudden CEO exit introduces leadership uncertainty despite continuity measures.
Gulfport Energy reports the immediate resignation of President and CEO John Reinhart from all roles, including the Board. While the company notes there was no disagreement over operations or policies, an abrupt leadership change can still raise questions about long‑term direction and execution stability.
To bridge the gap, the Board formed an Office of the Chairman led by Chairman Timothy J. Cutt, with the CFO, COO and Chief Legal and Administrative Officer as members. Cutt receives
Key operating executives signed Retention Agreements each promising cash equal to their base salary, split between the hiring of a new CEO and six months afterward, with different treatment for termination for cause, without cause or for good reason. Subsequent disclosures in future company filings may provide more detail on the eventual CEO appointment and any additional changes to leadership structure.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of John Reinhart, as President, Chief Executive Officer and Director
On March 6, 2026, John Reinhart, President, Chief Executive Officer and Director of Gulfport Energy Corporation (the “Company”) notified the Board of Directors (the “Board”) of the Company of his resignation as President, Chief Executive Officer and Director of the Company, effective immediately.
Mr. Reinhart’s decision to resign was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Office of the Chairman
Following the receipt of Mr. Reinhart’s notice, the Board retained an executive search firm to help identify qualified candidates for the Chief Executive Officer role. In the interim, an Office of the Chairman has been created to lead the Company. The Office of the Chairman will be led by Timothy Cutt, Chairman of the Board. Mr. Cutt’s biography is contained in the Company’s 2025 definitive proxy statement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 2, 2025. Other members of the Office of the Chairman include Michael Hodges, Executive Vice President and Chief Financial Officer; Matthew Rucker, Executive Vice President and Chief Operating Officer; and Patrick Craine, Executive Vice President and Chief Legal and Administrative Officer.
In connection with Mr. Cutt leading the Office of the Chairman, he will be granted an equity award under the Company’s 2021 Stock Incentive Plan with a value equal to approximately $1,000,000 in the form of time-based restricted stock units, which vest ratably over three consecutive years subject to Mr. Cutt’s continued service on the Board.
In order to ensure continuity during and after the search process for a new Chief Executive Officer, Mr. Hodges, Mr. Craine and Mr. Rucker each entered into a Retention Agreement (each, a “Retention Agreement”), effective as of March 8, 2026. The Retention Agreements provide for a cash payment equal to the applicable officer’s base salary, payable 50% upon the hiring of a new Chief Executive Officer and 50% six months after a new Chief Executive Officer is hired. If the applicable officer is terminated for cause or voluntarily separates from employment with the Company, any unpaid amounts under their Retention Agreement will be forfeited. If the applicable officer is terminated without cause or separates from employment with the Company for good reason (as defined in the Retention Agreement), all amounts payable pursuant to their Retention Agreement shall be paid in full.
Item 7.01 Regulation FD Disclosure.
On March 9, 2026, the Company issued a press release announcing Mr. Reinhart’s resignation. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in the press releases is being furnished, not filed, pursuant to Item 7.01. Accordingly, the information in the press releases will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended (the “Securities Act”), unless specifically identified therein as being incorporated therein by reference.
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Forward Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, conditions in financial markets and other risk factors as detailed from time to time in the Company’s reports filed with the SEC. Should one or more of these risks or uncertainties materialize (or the other consequences of such a development worsen), or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to the company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Number | Exhibit | |
| 99.1 | Press release of Gulfport Energy Corporation, dated March 9, 2026. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| GULFPORT ENERGY CORPORATION | ||
| Date: March 9, 2026 | By: | /s/ Michael Hodges |
| Michael Hodges | ||
| Chief Financial Officer | ||
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Exhibit 99.1
| Press Release |  |
Gulfport Energy Announces Leadership Team Changes
Oklahoma City, OK – March 9, 2026 – Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) today announced that John Reinhart, President, Chief Executive Officer and Director, has elected to depart the Company and resign from the Board of Directors, effective immediately.
An Office of the Chairman has been created to lead the Company and the Board of Directors has retained an executive search firm to help identify qualified candidates for the Chief Executive Officer role. The Office of the Chairman will be led by Timothy J. Cutt, Chairman of the Board of Directors and former Gulfport Chief Executive Officer from May 2021 until January 2023. Other members include: Michael Hodges, Executive Vice President and Chief Financial Officer; Matthew Rucker, Executive Vice President and Chief Operating Officer; and Patrick Craine, Executive Vice President and Chief Legal and Administrative Officer.
“On behalf of our Board and employees, I would like to thank John for his service to Gulfport,” said Timothy J. Cutt, Chairman of the Board of Directors. “Going forward, Gulfport’s 2026 development plan, outlook and strategy remain unchanged. We have an experienced, deep leadership team in place covering our key disciplines who remain committed to responsibly developing our assets, further expanding operating margins, enhancing efficiencies and generating durable free cash flow to return capital to shareholders. I look forward to reporting back when we have selected a new Chief Executive Officer who will continue building upon our success.”
About Gulfport
Gulfport is an independent, natural gas-weighted exploration and production company focused on the exploration, acquisition and production of natural gas, crude oil and NGL in the United States with primary focus in the Appalachia and Anadarko basins. Our principal properties are located in eastern Ohio targeting the Utica and Marcellus formations and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations.
Forward Looking Statements
This press release includes “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport’s current expectations, its Chief Executive Officer search, management's outlook guidance or forecasts of future events, projected cash flow and liquidity, inflation, share repurchases and other return of capital plans, its ability to enhance cash flow and financial flexibility, future production and commodity mix, plans and objectives for future operations, the ability of our employees, portfolio strength and operational leadership to create long-term value and the assumptions on which such statements are based. Gulfport believes the expectations and forecasts reflected in the forward-looking statements are reasonable, Gulfport can give no assurance they will prove to have been correct. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties. Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are described under "Risk Factors" in Item 1A of Gulfport’s annual report on Form 10-K for the year ended December 31, 2025 and any updates to those factors set forth in Gulfport's subsequent quarterly reports on Form 10-Q or current reports on Form 8-K (available at https://www.gulfportenergy.com/investors/sec-filings). Gulfport undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
Investor Contact
Jessica Antle – Vice President, Investor Relations
jantle@gulfportenergy.com
405-252-4550
FAQ
What leadership change did Gulfport Energy (GPOR) announce on March 9, 2026?
What is the new Office of the Chairman at Gulfport Energy (GPOR)?
How is Timothy J. Cutt being compensated for leading Gulfport Energy’s Office of the Chairman?
What retention incentives did Gulfport Energy (GPOR) give key executives after the CEO resignation?
Does Gulfport Energy expect its 2026 development plan to change after the CEO’s departure?
Who is leading Gulfport Energy’s search for a new Chief Executive Officer?
Filing Exhibits & Attachments
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