Matador Resources (NYSE: MTDR) lifts credit line as shareholders back board, pay and auditor
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Matador Resources Company expanded its financial flexibility and reported shareholder voting results. Its subsidiary entered an Eighth Amendment to its secured revolving credit facility, reaffirming the borrowing base at $3.25 billion and increasing aggregate elected borrowing commitments from $2.25 billion to $2.75 billion, reflecting the regularly scheduled May 1 redetermination.
The company also held its Annual Meeting of Shareholders. On the April 13, 2026 record date, there were 124,200,880 shares outstanding, and 115,739,804 shares were represented. Shareholders elected three Class III directors to terms expiring at the 2029 annual meeting, approved 2025 executive compensation in an advisory vote, and ratified KPMG LLP as independent auditor for the year ending December 31, 2026.
Positive
- None.
Negative
- None.
Insights
Matador increases revolving credit commitments and confirms broad shareholder support.
Matador Resources amended its secured revolving credit facility, keeping the borrowing base at $3.25 billion while lifting elected borrowing commitments from $2.25 billion to $2.75 billion. This expands available liquidity without changing the underlying collateral-based borrowing capacity.
The amendment reflects a routine May 1 redetermination under the bank facility. Separately, the Annual Meeting showed strong participation, with 115.7 million shares represented. Shareholders elected Class III directors through the 2029 meeting, backed 2025 executive pay on an advisory basis, and ratified KPMG LLP as auditor for the year ending December 31, 2026.
8-K Event Classification
4 items: 1.01, 2.03, 5.07, 9.01
4 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Borrowing base: $3.25 billion
Elected borrowing commitments (new): $2.75 billion
Elected borrowing commitments (prior): $2.25 billion
+4 more
7 metrics
Borrowing base
$3.25 billion
Reaffirmed under secured revolving credit facility in Eighth Amendment
Elected borrowing commitments (new)
$2.75 billion
Aggregate elected borrowing commitments after June 10, 2026 amendment
Elected borrowing commitments (prior)
$2.25 billion
Aggregate elected borrowing commitments before the Eighth Amendment
Shares outstanding
124,200,880 shares
Common stock outstanding as of April 13, 2026 record date
Shares represented at meeting
115,739,804 shares
Shares represented in person or by proxy at Annual Meeting
Say-on-pay votes for
105,024,470 votes
Votes for 2025 executive compensation advisory resolution
Auditor ratification votes for
114,318,225 votes
Votes for ratifying KPMG LLP as auditor for 2026
Key Terms
borrowing base, secured revolving credit facility, record date, broker non-votes, +2 more
6 terms
borrowing base financial
"reaffirm the borrowing base at $3.25 billion and (ii) increase"
A borrowing base is the amount a lender will allow a company to borrow based on the value of assets the company offers as security, typically things like accounts receivable and inventory. It matters to investors because it sets a practical ceiling on short-term financing and influences a company’s liquidity and risk: if the borrowing base falls, the company may lose access to cash or be forced to sell assets, which can affect operations and share value.
secured revolving credit facility financial
"amended the Company’s existing secured revolving credit facility (the “Credit Agreement”)"
A secured revolving credit facility is a line of borrowing that a company can draw, repay and redraw up to an agreed limit, similar to a business credit card, with the loan backed by specific assets as collateral. It matters to investors because it provides flexible short-term cash when needed and affects a company’s financial strength and risk: having a secured revolver can lower borrowing costs but gives lenders claims on pledged assets if the company can’t repay.
record date financial
"On the April 13, 2026 record date for the Annual Meeting"
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.
broker non-votes financial
"Votes For | Votes Against | Votes Abstained | Broker Non-Votes"
Broker non-votes occur when a brokerage firm is unable to vote on a shareholder’s behalf during a company election or decision because the shareholder has not given specific voting instructions, and the broker is not allowed or chooses not to vote on certain matters. They are important because they can affect the outcome of votes, especially when the results are close, by effectively reducing the total number of votes cast.
non-binding advisory resolution financial
"The shareholders approved the non-binding advisory resolution approving the 2025 compensation"
A non-binding advisory resolution is a shareholder vote that expresses investors’ opinion or recommendation but does not legally force the company to act. Think of it like a public survey: management can ignore it, but a strong vote for or against signals investor sentiment, can sway board behavior or policy decisions, and may influence market perception and future, potentially binding, actions.
independent registered public accounting firm financial
"independent registered public accounting firm for the year ending December 31, 2026"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
FAQ
How did Matador Resources (MTDR) change its credit facility in June 2026?
Matador’s subsidiary entered an Eighth Amendment to its secured revolving credit facility, reaffirming the borrowing base at $3.25 billion and increasing aggregate elected borrowing commitments from $2.25 billion to $2.75 billion, following the regularly scheduled May 1 redetermination.
What borrowing base does Matador Resources (MTDR) currently have under its revolving credit facility?
The company’s secured revolving credit facility has a reaffirmed borrowing base of $3.25 billion. This figure represents the maximum borrowing capacity determined by lenders, while elected commitments of $2.75 billion reflect the portion currently available under the agreement after the June 2026 amendment.
Which directors were elected at Matador Resources’ (MTDR) 2026 Annual Meeting and for how long?
Shareholders elected Joseph Wm. Foran, Reynald A. Baribault, and Timothy E. Parker as Class III directors. Each will serve a term expiring at the Annual Meeting of Shareholders in 2029, or earlier in the event of death, retirement, resignation, or removal.
Who is Matador Resources’ (MTDR) independent auditor for the year ending December 31, 2026?
Shareholders ratified the appointment of KPMG LLP as Matador Resources’ independent registered public accounting firm for the year ending December 31, 2026. The ratification vote totaled 114,318,225 votes for, 1,164,026 against, and 257,553 abstentions.