PEDEVCO insider filing: 196,359 restricted shares via Juniper funds
Rhea-AI Filing Summary
PEDEVCO Corp. insider ownership filing: A reporting person associated with Juniper Capital reported indirect beneficial ownership of 196,359 shares of PEDEVCO restricted common stock tied to director Joshua Schmidt. These shares were granted to Mr. Schmidt as consideration for his services on the board and then transferred among several Juniper-related investment entities that each wholly own the holding vehicles receiving the stock. The restricted shares vest in four equal 25% installments on the three, six, nine, and twelve month anniversaries of October 31, 2025, subject to Mr. Schmidt’s continued service and the terms of a restricted share grant agreement. The reporting person may be deemed to have voting and dispositive power through its control of the general partners of the related funds but disclaims beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 196,359 | $0.00 | -- |
Footnotes (1)
- Upon receipt by Joshua Schmidt, the shares of Restricted Common Stock were transferred to Juniper Capital II PED Holdings, LLC, which is wholly owned by Juniper Capital II, L.P. ("Fund II"); Juniper Capital III PED Holdings, LLC, which is wholly owned by Juniper Capital III, L.P. ("Fund III"); NPR Partners PED Holdings, LLC, which is wholly owned by Juniper NPR Partners, L.P. ("NPR Partners"); North Peak Partners PED Holdings, LLC, which is wholly owned by Juniper North Peak Partners, L.P. ("North Peak Partners"); and J PED, LLC, which is wholly owned by Juniper Capital IV, L.P. ("Fund IV"), since Mr. Schmidt is a designated director of an affiliate of the Reporting Person. The shares of Restricted Common Stock were issued to Mr. Schmidt pursuant to the Issuer's 2021 Equity Incentive Plan and are subject to forfeiture. The shares vest at the rate of (i) 25% of the shares on the three (3) month anniversary of October 31, 2025; (ii) 25% on the six (6) month anniversary of October 31,2025; (iii) 25% on the nine (9) month anniversary of October 31, 2025; and (iv) 25% on the twelve (12) month anniversary of October 31, 2025, subject to Mr. Schmidt's continued service to the Issuer on such vesting dates, and subject to the terms and conditions of a Restricted Shares Grant Agreement entered into by and between the Issuer and Mr. Schmidt. Issued to Mr. Schmidt in consideration for services rendered and agreed to be rendered as a member of the Board of Directors of the Issuer. The Reporting Person, as the indirect, sole owner of the general partners of Fund II, Fund III, North Peak Partners, NPR Partners and Fund IV, may be deemed to have voting and dispositive power over the shares of Restricted Common Stock. The Reporting Person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest therein.
FAQ
What is the reporting person’s relationship to PEDEVCO (PED)?
The reporting person is identified as a director and 10% owner of PEDEVCO Corp.