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Zion Oil & Gas adds board share buyback power

Zion Oil & Gas updated its bylaws to explicitly authorize board-approved share repurchases, effective September 14, 2026.

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

ZION OIL & GAS INC (ZNOG) reports a bylaw amendment giving its Board of Directors explicit authority to approve repurchases of company shares. New Section 6.7 under Article VI – Stock states that the board may authorize buybacks in the best interests of the corporation and shareholders at fair market value, with any repurchases disclosed and conducted in compliance with the Texas Business Organizations Code and federal securities rules. The board, acting on management’s recommendation, approved this amendment on September 14, 2026, which is also the effective date. The amended bylaws are included as Exhibit 3(i).1.

Positive

  • None.

Negative

  • None.

Filing Explained

The amendment is enabling authority, not a repurchase: as of September 14, 2026, the filing discloses no approved buyback amount, share count, or spending, so no issuer cash outflow or holder ownership change is established.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Effective date of amended bylaws September 14, 2026 Effective date of the bylaw amendment adding Section 6.7 on share repurchases
Exhibit 3(i).1 Amended Bylaws as of September 14, 2026 Filing exhibit containing the full amended bylaws text
Article and section affected Article VI, Section 6.7 New bylaw section titled “REPURCHASING SHARES”
fair market value financial
"approve the repurchase of company shares ... at fair market value"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
Texas Business Organizations Code (TBOC) regulatory
"conducted in compliance with both the TBOC and federal securities rules"
repurchase of company shares financial
"authority ... to approve the repurchase of company shares"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What corporate change did ZNOG disclose in this 8-K filing?

ZNOG disclosed an amendment to its bylaws adding Section 6.7, which gives the Board of Directors explicit authority to approve repurchases of company shares at fair market value, subject to compliance with the Texas Business Organizations Code and federal securities rules.

When did the new share repurchase bylaw for ZNOG become effective?

The amendment to Zion Oil & Gas, Inc.’s bylaws authorizing board-approved share repurchases became effective on September 14, 2026, the same date it was approved by the Board of Directors.

Does the new ZNOG bylaw mandate a specific share buyback program or amount?

No. The new bylaw authorizes the Board of Directors to approve share repurchases at fair market value but does not state any specific repurchase program, timing, or amount in this disclosure.

Who approved the ZNOG bylaw change on share repurchases?

The amendment adding the share repurchase authority to Zion Oil & Gas’s bylaws was approved by the Board of Directors on September 14, 2026, based upon the recommendation of management.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates
false 0001131312 0001131312 2026-09-14 2026-09-14
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
September 14, 2026
Date of Report (Date of earliest event reported)
 
Zion Oil & Gas, Inc.
(Exact name of registrant as specified in its charter)
 
Texas
(State or other jurisdiction of incorporation)
 
001-33228
 
20-0065053
(Commission File Number)
 
(IRS Employer Identification No.)
 
12222 Merit Drive, Suite 1450, Dallas, TX 75251
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code: 214-221-4610
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
Pre-commencement communications pursuant to 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).
 
Emerging growth company  
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
 
Securities registered pursuant to Section 12(b) of the Act: 
Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered
         
 
 

 
Item 5.03 Amendment to the Bylaws
 
Under Article VI of the Company’s Bylaws, the following change was made by adding section 6.7 as follows:
 
ARTICLE VI STOCK
 
6.7 REPURCHASING SHARES
 
The Board of Directors has the authority in these Bylaws to approve the repurchase of company shares in the best interests of the corporation and its shareholders at fair market value. Any share buybacks shall be disclosed and conducted in compliance with both the TBOC and federal securities rules.
 
Based upon the recommendation of management, the above changes were approved by the Board of Directors on September 14, 2026. The effective date of the amendment to the Amended Bylaws of Zion Oil & Gas, Inc. is September 14, 2026, and the amended Bylaws are provided under Exhibit 3(i).1.
 
 
Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits
 
Exhibit 3(i).1 – Amended Bylaws of Zion Oil & Gas, Inc., as of September 14, 2026
 
Exhibit 104 –    Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
 
 
 
Zion Oil and Gas, Inc.
 
     
       
Date: September 14, 2026
By:
/s/ Robert Dunn
 
   
Robert Dunn
 
   
Chief Executive Officer
 
       
 
 

Filing Exhibits & Attachments

5 documents

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