[Form 4] PEDEVCO CORP Insider Trading Activity
PEDEVCO Corp (PED) reported a Form 4 showing a grant of 49,396 shares of restricted common stock tied to board service by Joshua Schmidt, a designated director of an affiliate of the reporting person. The shares were issued under the company’s 2021 Equity Incentive Plan as consideration for services as a board member and were then transferred to Juniper Capital II PED Holdings, LLC and NPR Partners PED Holdings, LLC. These restricted shares are subject to forfeiture and vest in four equal 25% installments on the three, six, nine, and twelve month anniversaries of October 31, 2025, contingent on Mr. Schmidt’s continued service and the terms of a restricted share grant agreement. The reporting person, a 10% owner, is the sole general partner of the investment funds that own the holding entities and disclaims beneficial ownership beyond its pecuniary interest.
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FAQ
What did PEDEVCO Corp (PED) disclose in this Form 4 filing?
The filing reports that 49,396 shares of restricted common stock of PEDEVCO Corp were granted in connection with board service by Joshua Schmidt, with the reporting person classified as a 10% owner.
How many PEDEVCO (PED) shares were granted and at what price?
The Form 4 shows a grant of 49,396 restricted common shares at a reported price of $0, reflecting that the shares were issued as consideration for services rather than a cash purchase.
What is the vesting schedule for the 49,396 PEDEVCO restricted shares?
The 49,396 restricted shares vest in four equal installments of 25% each on the three, six, nine, and twelve month anniversaries of October 31, 2025, subject to Mr. Schmidt’s continued service and the grant agreement terms.
Who ultimately holds the restricted PEDEVCO (PED) shares reported in this Form 4?
Upon receipt by Joshua Schmidt, the restricted shares were transferred to Juniper Capital II PED Holdings, LLC and NPR Partners PED Holdings, LLC, which are wholly owned by investment funds for which the reporting person is the sole general partner.
Does the reporting person claim full beneficial ownership of the PEDEVCO shares?
No. The reporting person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest, due to its role as general partner of the investment funds that control the holding entities.
Under which plan were the PEDEVCO restricted shares issued?
The restricted common stock was issued pursuant to PEDEVCO’s 2021 Equity Incentive Plan, in connection with services rendered and agreed to be rendered as a member of the Board of Directors.