W&T Offshore (NYSE: WTI) boosts CEO Krohn's base pay to $1M
Rhea-AI Filing Summary
W&T Offshore, Inc. entered into a First Amendment to its Amended and Restated Employment Agreement with its Chief Executive Officer, President and Board Chairman, Tracy W. Krohn, effective August 5, 2026. The amendment addresses Mr. Krohn’s ongoing cash compensation.
Under the revised agreement, Mr. Krohn’s annual base salary will be no less than $1,000,000. This amount will be reviewed annually by the Board or a committee and may be increased from time to time, but it may not be reduced. All other material terms of his employment agreement remain unchanged.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CEO minimum annual base salary: $1,000,000
Date of First Amendment: August 5, 2026
Common stock par value: $0.00001
3 metrics
CEO minimum annual base salary
$1,000,000
Annual base salary floor for Tracy W. Krohn under the amended employment agreement
Date of First Amendment
August 5, 2026
Effective date of the First Amendment to Tracy W. Krohn’s employment agreement
Common stock par value
$0.00001
Par value per share of W&T Offshore, Inc. common stock
Key Terms
First Amendment, Amended and Restated Employment Agreement, Inline XBRL
3 terms
First Amendment regulatory
"entered into a First Amendment to that certain Amended and Restated Employment Agreement"
Amended and Restated Employment Agreement financial
"to that certain Amended and Restated Employment Agreement, effective as of April 20, 2023"
Inline XBRL technical
"Cover Page Interactive Data File (embedded within the Inline XBRL document)"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What change did W&T Offshore (WTI) make to its CEO’s employment agreement?
W&T Offshore updated Tracy W. Krohn’s contract to set his annual base salary at a minimum of $1,000,000. The Board will review this amount each year and may raise it, but the agreement specifies it cannot be reduced.
What is Tracy W. Krohn’s new minimum base salary at WTI?
Tracy W. Krohn’s annual base salary is now guaranteed at no less than $1,000,000. This floor applies under the amended employment agreement and can be increased from time to time following Board review, but it cannot be decreased under the new terms.
When did W&T Offshore (WTI) approve the amendment to the CEO’s employment agreement?
W&T Offshore entered into the First Amendment to Tracy W. Krohn’s employment agreement on August 5, 2026. This amendment specifically revises his base salary terms while leaving the other material provisions of the original agreement in place.
Can W&T Offshore (WTI) reduce CEO Tracy Krohn’s base salary under the amended agreement?
Under the amended agreement, W&T Offshore may not reduce Tracy W. Krohn’s $1,000,000 minimum annual base salary. The Board or a committee will review the salary annually and may increase it, but the contract expressly prohibits decreasing the base amount.
Were other key terms of Tracy Krohn’s WTI employment agreement changed?
No, other material terms of Tracy W. Krohn’s Amended and Restated Employment Agreement remain unchanged. The First Amendment is limited to establishing and governing his minimum annual base salary level and its review and increase mechanics by the Board.