UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 13, 2023, Vital Energy, Inc. (the “Company”) announced that the Board of Directors of the Company has appointed Kathryn A. Hill as Senior Vice President – Chief Operating Officer of the Company, effective as of November 13, 2023. Ms. Hill, age 36, has over 15 years of experience in the energy exploration and production industry and most recently served as the Company’s Vice President – Operations since September 2022. Previously, Ms. Hill served as Senior Vice President – Operations of Javelin Energy Partners, LLC from June 2020 to August 2022. Prior to that, Ms. Hill served in various engineering and operational roles at Chesapeake Energy, Inc. from 2012 until June 2020, most recently as Production and Infrastructure Manager from February 2020 until June 2020. Ms. Hill started her career with BP in 2008 in various onshore and offshore engineering roles.
Ms. Hill received her Bachelor of Engineering in Mechanical Engineering from the University of Michigan in 2009 and her Master of Science in Mechanical Engineering from the University of Michigan in 2012.
In connection with her appointment, Ms. Hill’s annual base salary will be increased to $425,000 and her short-term incentive cash target (as a percentage of base salary) will be increased to 85%. In addition, in connection with her appointment, on November 13, 2023 Ms. Hill received a grant of restricted stock awards worth $250,000, which will vest in equal installments over a three-year period.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number | Description | |
| 99.1 | Press release dated November 13, 2023 announcing appointment of Ms. Hill. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
2
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 hereunto duly authorized.
| VITAL ENERGY, INC. | ||
| Date: November 13, 2023 | By: | /s/ Bryan J. Lemmerman |
| Bryan J. Lemmerman | ||
| Senior Vice President and Chief Financial Officer | ||
Exhibit 99.1
Vital Energy Promotes Katie Hill to Senior Vice President and Chief Operating Officer
TULSA, OK - November 13, 2023 - Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today announced the promotion of Katie Hill to Senior Vice President and Chief Operating Officer, effective November 13, 2023. Ms. Hill has been with Vital Energy since September 2022 and previously served as Vice President -Operations.
Ms. Hill has more than 15 years of operational experience in the energy exploration and production sector, developing engineering and operational teams, successfully integrating and optimizing acquired assets, and leading multi-basin development programs. Prior to joining Vital Energy, she served as Senior Vice President - Operations at Javelin Energy Partners, LLC for two years. Previously, she served for eight years at Chesapeake Energy in positions of increasing responsibility in operations. Ms. Hill began her career as an engineer with BP in 2008.
Ms. Hill holds both a Bachelor of Science and Master of Science in Mechanical Engineering from the University of Michigan - College of Engineering.
"Katie is a proven leader and has made an impact at Vital Energy," stated Jason Pigott, President and Chief Executive Officer. "Since she joined the Company, we have continually exceeded production forecasts as our teams have deployed proprietary technologies across our operations and optimized production methods on our high-return Permian Basin inventory. Her track record of driving innovation will be invaluable as we continue to build scale and value in the Permian."
About Vital Energy
Vital Energy, Inc. is an independent energy company with headquarters in Tulsa, Oklahoma. Vital Energy's business strategy is focused on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas.
Additional information about Vital Energy may be found on its website at www.vitalenergy.com.
Investor Contact:
Ron Hagood
918.858.5504
ir@vitalenergy.com