Prairie Operating Co. filings document an independent energy company focused on oil, natural gas and natural gas liquids resources in the Denver-Julesburg Basin. Recent Form 8-K reports cover operating and financial results, material agreements, capital-structure changes, and governance events.
The company’s regulatory disclosures include definitive proxy materials for director elections, auditor ratification and shareholder voting matters. Other filings describe Series F Convertible Preferred Stock, common-stock warrants, repurchase and amendment agreements, board resignations, interim leadership appointments, separation arrangements and related exhibit filings.
Shelly Michael James reported acquisition or exercise transactions in this Form 4 filing.
Prairie Operating Co. reported that Executive Vice President & CFO Shelly Michael James received equity-based compensation. On July 21, 2026, James was granted 840,000 restricted stock units (RSUs) at a stated price of $0.0000 per share, vesting ratably in three annual installments beginning on June 23, 2027. On July 23, 2026, James was also awarded 560,000 performance units, each linked to one share of common stock, with 50%–200% of the target eligible to vest for the June 23, 2026–June 30, 2029 performance period based on continued employment and the company’s relative total shareholder return versus designated Peer Companies.
Prairie Operating Co. had Executive Vice President & CFO Shelly Michael James submit a Form 3 initial statement of beneficial ownership. The report lists no equity transactions or holdings and notes an attached Exhibit 24 Power of Attorney authorizing ownership reports to be filed on the insider’s behalf.
Thoresen Erik reported acquisition or exercise transactions in this Form 4 filing.
Prairie Operating Co. director Erik Thoresen reported an equity award of 100,000 restricted stock units (RSUs) on July 21, 2026. The RSUs were granted under the 2024 Amended & Restated Prairie Operating Co. Long-Term Incentive Plan. Each RSU represents a contingent right to receive one share of common stock and will vest in full on June 3, 2027. Following this grant, Thoresen’s reported direct holdings in this security total 220,760 shares/RSUs.
Frommer Richard N. reported acquisition or exercise transactions in this Form 4 filing.
Prairie Operating Co. director Richard N. Frommer received a grant of 100,000 restricted stock units (RSUs) of common stock as a compensation award under the 2024 Amended & Restated Prairie Operating Co. Long-Term Incentive Plan. Each RSU represents a contingent right to receive one share upon vesting, which occurs in full on June 3, 2027. Following this award, Frommer directly holds 305,372 shares of Prairie Operating common stock, as reported.
Gray Jonathan H. reported acquisition or exercise transactions in this Form 4 filing.
Prairie Operating Co. director Jonathan H. Gray reported an award of 100,000 restricted stock units (RSUs) under the 2024 Amended & Restated Long-Term Incentive Plan. Each RSU represents a contingent right to one share of common stock and will vest in full on June 3, 2027. Following this grant, Gray has 760,273 common shares or RSUs reported as directly held, plus indirect holdings reported as 627,060 common shares held by First Idea Ventures LLC and 300,496 common shares held by First Idea International Ltd.
Prairie Operating Co. reported that on July 21, 2026, director Stephen Lee resigned from its Board of Directors, and the Board elected Jennifer M. Grigsby to fill the resulting vacancy. The company stated that Lee’s resignation was not due to any disagreement regarding operations, policies, or practices.
Grigsby, a veteran public company director and energy finance executive with more than 30 years of experience, is expected to serve as Chair of the Compensation Committee and as a member of the Nominating & Governance and Audit Committees. She brings prior leadership roles at Ascent Resources, Chesapeake Energy, and as Oklahoma’s Secretary of Economic Administration, along with service on multiple other corporate boards. Grigsby will receive Prairie’s standard non‑employee director compensation and enter into its standard director indemnification agreement.
Prairie Operating Co. received a Nasdaq notice that its common stock has failed to meet the $1.00 minimum bid price requirement for 30 consecutive business days. The shares remain listed on The Nasdaq Capital Market, but the company now has 180 calendar days, until December 29, 2026, for the closing bid to reach at least $1.00 for ten consecutive business days. Prairie may qualify for an additional 180-day period if it meets other Nasdaq listing standards and submits a remediation plan. If the stock trades at or below $0.10 for ten consecutive trading days, Nasdaq will immediately move to delist the shares, with trading suspended.
Patton Gregory Scott reported acquisition or exercise transactions in this Form 4 filing.
Prairie Operating Co. disclosed that Chief Executive Officer Gregory Scott Patton received new equity awards. He was granted 425,000 restricted stock units (RSUs) under the 2024 Amended & Restated Long-Term Incentive Plan, each representing one future share of common stock upon vesting. These RSUs vest in three equal annual installments beginning on June 23, 2027. Patton was also granted 425,000 performance units, each tied to one share of common stock and vesting only if specified stock price milestones in his Performance Unit Award Agreement are achieved. Following these awards, he directly holds 1,116,224 shares of common stock.
Prairie Operating Co. has promoted Executive Vice President and Chief Financial Officer Gregory S. Patton to Chief Executive Officer and director, and hired Michael Shelly as Executive Vice President and Chief Financial Officer. Both executives received new employment agreements with high variable and equity-based compensation.
Mr. Patton will receive an annual base salary of $625,000, a target bonus equal to 100% of base salary, and an LTIP target of at least 300% of base salary. He was granted 850,000 restricted stock units, split equally between performance-based and time-based awards. Mr. Shelly will receive a $525,000 base salary, a target bonus equal to 100% of base salary, an LTIP target of at least 300% of base salary, and 1,400,000 RSUs, with 560,000 performance-based and 840,000 time-based units.
The Compensation Committee also amended the company’s 2025 performance share unit awards so that total shareholder return is measured from an “Initial Value” of $2.75 per share over the three-year period from January 1, 2025 to December 31, 2027.
Prairie Operating Co. amended its primary credit facility, entering a Second Amendment to its Amended and Restated Credit Agreement with Citibank and other lenders. The amendment reaffirms a $475,000,000 borrowing base, adjusts covenants tied to distributable free cash flow and reporting, and increases how frequently the borrowing base can be redetermined.
The company also signed a letter agreement with Hudson Bay PH XIX LLC covering remaining Series F Convertible Preferred Stock. Prairie will allow those preferred shares to convert into additional common stock, in total not exceeding 21,156,339 shares, under the existing certificate of designation. The parties changed the Anniversary Warrant issuance date from July 8, 2026 to August 7, 2026 and reduced the warrant share formula from 75% to 65% of stated value, while updating related warrant documentation.