PEDEVCO CORP SEC Filings

Clark Moore reported acquisition or exercise transactions in this Form 4 filing.

PEDEVCO CORP Executive VP Clark Moore reported new equity awards and updated holdings. He received grants of 18,950 time-based Restricted Stock Units and 5,270 Performance-Based Restricted Stock Units, each representing the contingent right to receive common shares if vesting conditions are met.

The time-based RSUs vest in three equal annual installments starting from a January 1, 2026 vesting commencement date, subject to continued service. The performance-based RSUs are tied to total shareholder return over a fiscal 2026–2028 performance period, with potential payout from 0% to 200% of the target award based on relative performance.

Following these awards, Moore reports holding 73,225 shares of common stock directly and 143 shares indirectly through a minor child, in addition to the unvested RSUs and performance-based units granted under the company’s 2021 Equity Incentive Plan.

PEDEVCO Corp. reported new equity awards to executives and employees as part of its 2025 annual compensation review. The company granted restricted stock units representing 96,630 shares of common stock and 38,320 target performance-based RSUs representing up to 76,640 shares, under its 2021 Equity Incentive Plan.

Key grants include 22,830 RSUs and 15,220 PBRSUs to CEO J. Douglas Schick, 18,950 RSUs and 5,270 PBRSUs to Executive Vice President and General Counsel Clark Moore, and 16,050 RSUs and 7,020 PBRSUs to Chief Commercial Officer Jody Crook, with the remainder granted to other non-executive employees. Time-based RSUs generally vest in three equal annual installments from a January 1, 2026 vesting commencement date, while PBRSUs cliff-vest on December 31, 2028 based on relative total shareholder return and continued service.

PEDEVCO CORP director Martyn Willsher bought 20,000 shares of common stock in open‑market transactions. The purchases were split into two trades of 13,428 and 6,572 shares at reported weighted average prices of $14.288 and $14.739 per share, across price ranges from $13.92 to $14.99.

PEDEVCO Corp. entered into a Third Amendment to its Amended and Restated Credit Agreement with Citibank and other lenders on May 19, 2026. The amendment increases the borrowing base and elected commitment amount under the credit facility from $120 million to $125 million, modestly expanding available credit. The redetermination executed by this amendment replaces the borrowing base review originally scheduled for on or about December 1, 2025, with the next redetermination planned for on or about July 1, 2026.

PEDEVCO Corp. reported a sharp operational step-change in Q1 2026 following its October 2025 Juniper merger, but posted a GAAP net loss driven by hedge mark-to-market. Production rose 374% to 728,141 Boe (8,091 Boe/d), and oil and gas revenue increased 360% to $40.2 million versus Q1 2025.

Adjusted EBITDA grew 404% to $21.5 million, while operating income reached $6.7 million. However, the company recorded a net loss of $25.6 million, or $(3.28) per share, mainly from a $31.3 million net loss on derivative contracts, largely non‑cash unrealized losses reflecting higher commodity prices relative to its hedge book.

Net cash provided by operating activities increased 78% to $10.5 million. As of March 31, 2026, PEDEVCO had $11.3 million in cash and restricted cash, $98.0 million outstanding under its revolving credit facility, total assets of $370.1 million and shareholders’ equity of $182.2 million. Management reaffirmed 2026 guidance of 6,500–7,000 Boe/d and $60–$70 million of Adjusted EBITDA on $16–$20 million of net capital expenditures.

PEDEVCO Corp. reported sharply higher activity for the quarter ended March 31, 2026 following its recent DJ and Powder River Basin acquisitions, but posted a net loss driven by hedge mark-to-market effects.

Revenue rose to $40.2M, up from $8.7M a year earlier, as production from newly acquired assets contributed. Operating income was $6.7M, but a $31.3M net loss on derivative contracts and $2.0M of interest expense turned results into a net loss of $25.6M or $3.28 per share.

The company closed the North Peak/Century merger in late 2025 for total consideration of about $179.9M, funded with cash, credit facility borrowings and Series A Convertible Preferred Stock that automatically converted into 8.5 million common shares in February 2026. It also completed a 1‑for‑20 reverse stock split effective March 13, 2026, with all share data retroactively adjusted.

At quarter-end, PEDEVCO held total assets of $370.1M, shareholders’ equity of $182.2M, and $98.0M outstanding under its amended and restated revolving credit facility, with an effective interest rate of about 8.4%. Net cash provided by operating activities was $10.5M, and the company spent $16.5M on drilling and completion, largely for DJ Basin non‑operated wells, while also recording $1.6M of impairment on undeveloped DJ leases and a sizeable non‑cash increase in asset retirement obligations.

PEDEVCO Corp. entered into a Second Amendment to its Amended and Restated Credit Agreement with Citibank, N.A. and its lenders. The amendment updates the definition of EBITDAX, including a cap on permitted transaction cost add-backs set at the greater of $6,000,000 or 5% of the then-current borrowing base, which is currently $120 million.

The amendment also allows an estimated October 2025 EBITDAX add-back for acquired Juniper assets in certain test periods, shifts the Test Period toward a trailing twelve‑month calculation by the period ending September 30, 2026, and revises the borrowing base redetermination and reserve report delivery schedules beginning mid‑2026.

PEDEVCO CORP director John K. Howie received additional equity compensation. He acquired 782 shares of Common Stock at $15.98 per share as a grant or award, taken in lieu of cash compensation for board services under the company’s 2021 Equity Incentive Plan. Following this award, he holds 10,356 shares directly.

PEDEVCO Corp. reported a transformational 2025 shaped by its October Juniper merger, which drove a sharp step-up in scale and reserves but led to a reported loss. Fourth quarter 2025 revenue rose to $23.1 million, up 118% year over year, with Adjusted EBITDA of $15.4 million, nearly three times the prior-year quarter, as average daily production reached 5,310 Boe/d. For full-year 2025, revenue increased to $45.8 million and Adjusted EBITDA grew 18% to $27.0 million, while the company recorded a net loss of $(10.4) million driven by $7.5 million of merger-related costs, higher share-based compensation, new interest expense and income tax expense. Year-end 2025 proved reserves grew to 32.1 MMBoe with PV-10 of $357.7 million, the borrowing base-backed credit facility balance reached $87.0 million, and management issued 2026 guidance targeting Adjusted EBITDA of $60–$70 million and capital spending of $16–$20 million.