PEDEVCO CCO reports 300,000 RS grant, convertible preferred
Rhea-AI Filing Summary
PEDEVCO (PED) reported insider equity awards on a Form 4 for its Chief Commercial Officer. On October 31, 2025, the officer received 300,000 shares of restricted common stock at $0 in consideration for services. These shares vest in three equal tranches on the one-, two-, and three-year anniversaries of the merger closing on October 31, 2025, subject to continued service.
The filing also reports 4,546 shares of Series A Convertible Preferred Stock, which automatically convert 10-for-1 into common stock after a 20-day period following distribution of an information statement under Rule 14c-2 that disclosed majority stockholder approval on October 31, 2025. The form lists a $5.5 price for the derivative security. Following these transactions, the officer beneficially owns 664,118 shares of common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series A Convertible Preferred Stock | 4,546 | $5.50 | $25K |
| Grant/Award | Common Stock | 300,000 | $0.00 | -- |
Footnotes (1)
- Granted by the Board of Directors of the Issuer on October 29, 2025, contingent upon the closing of the transactions contemplated by that certain Agreement and Plan of Merger dated October 31, 2025 between the Issuer, NP Merger Sub, LLC, COG Merger Sub, LLC, North Peak Oil Gas, LLC, Century Oil and Gas Sub-Holdings, LLC, and, solely for purposes of the specified provisions therein, North Peak Oil Gas Holdings, LLC, which closed on October 31, 2025 (the "Closing Date"). The shares of Restricted Common Stock were issued to the Reporting Person pursuant to the Issuer's 2021 Equity Incentive Plan and are subject to forfeiture. The shares vest at the rate of (i) 1/3 on the one year anniversary of the Closing Date; (ii) 1/3 on the two year anniversary of the Closing Date; and (iii) 1/3 on the three year anniversary of the Closing Date, subject to the Reporting Person's continued service to the Company 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 the Reporting Person. Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as the Chief Commercial Officer of the Issuer. The Convertible Series A Preferred Stock is not convertible until the expiration of the twenty calendar day period (the "Automatic Conversion Date") commencing on the distribution to the Issuer's shareholders in accordance with Rule 14c-2 of Regulation 14C promulgated under the Securities and Exchange Act of 1934, as amended, of an information statement disclosing, among other things, the approval of such conversion and related matters by the majority stockholders of the Issuer which occurred on October 31, 2025. The Convertible Series A Preferred Stock have no expiration date, but automatically convert into common stock of the Issuer in a ratio of 10-for-1 on the Automatic Conversion Date.
