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HOUSTON—John Douglas Schick, President and CEO of PEDEVCO Corp (AMEX:PED), recently executed significant transactions involving the company's stock. According to a Form 4 filing with the Securities and Exchange Commission, Schick sold a total of 178,334 shares of common stock across two separate transactions. The sales come as the stock has experienced a 16% decline over the past week, though analysts maintain a bullish stance with price targets ranging from $1.50 to $2.15, according to InvestingPro data.
On January 23, Schick sold 58,334 shares at a weighted average price of $0.8558 per share. A subsequent sale occurred on January 27, involving 120,000 shares at a weighted average price of $0.7605 per share. The total value of these transactions amounted to approximately $141,182.
In addition to these sales, Schick acquired 500,000 shares of restricted common stock on January 23. These shares were issued at no cost as part of PEDEVCO's 2021 Equity Incentive Plan, in recognition of his role as President and CEO. The restricted shares are subject to a vesting schedule, with one-third vesting on the tenth, twenty-second, and thirty-fourth month anniversaries of the grant date, contingent upon Schick's continued service to the company.
Following these transactions, Schick holds a total of 1,577,133 shares of PEDEVCO common stock. The company has demonstrated solid performance with a 19% revenue growth in the last twelve months and maintains positive earnings expectations for the current fiscal year.
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