October 31, 2025 · Form 4 insider transaction
Schick John Douglas bought 2,000,000 shares of PEDEVCO CORP at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 4 days after the transaction.
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. A total of 1 million of 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.; Up to 1,000,000 shares will vest if the Issuer's common stock maintains a 30-day average closing price of at least $0.90 (as adjusted for stock splits) within four years after the Closing Date (the "price trigger"). The earliest possible vesting date is 30 days after the first anniversary of the Closing Date, provided: (a) if the price trigger is met between one year and 30 days and two years after the Closing Date, one-third of the shares vest immediately and the remainder vest on the second and third anniversaries of the grant date; (b) if met between two and three years, two-thirds vest immediately and the remainder on the third anniversary; and (c) if met after the third anniversary, all shares vest immediately. Vesting is subject to the Reporting Person's continued service and the terms of the Restricted Shares Grant Agreement. If the price trigger is not achieved within four years, all 1,000,000 shares will be forfeited.; Issued to the Reporting Person in consideration for services rendered and agreed to be rendered to the Issuer as the President and Chief Executive Officer of the Issuer.