Trump meets Zelenskiy, says Putin wants war to end, mulls trilateral talks
Prairie Operating Co. (NASDAQ:PROP), a Houston-based energy company with a market capitalization of $126.7 million, announced on Wednesday that its Compensation Committee approved amended and restated employment agreements for three senior executives: Chief Executive Officer Ed Kovalik, President Gary C. Hanna, and Executive Vice President and Chief Financial Officer Gregory S. Patton. The new agreements became effective the same day. According to InvestingPro data, the company faces significant operational challenges, with its financial health score currently rated as weak.
According to a press release statement based on the company’s filing with the Securities and Exchange Commission, Mr. Kovalik’s annual base salary was increased to $750,000 from $550,000, retroactive to January 1, 2025. His target annual incentive bonus opportunity was reduced to 125% of his annual base salary, down from 250%, also effective as of January 1, 2025. The company stated these changes were made to align Mr. Kovalik’s compensation with market practices, based on recommendations from an independent compensation consultant.
Mr. Hanna’s new agreement raises his annual base salary to $675,000 from $550,000, retroactive to January 1, 2025. His target annual incentive bonus opportunity was likewise reduced to 125% of base salary from 250%. The company said these changes also reflect market alignment as advised by the compensation consultant.
Mr. Patton’s amended agreement increases his annual base salary to $550,000, retroactive to January 1, 2025. In addition, if Mr. Patton’s employment is terminated without cause or if he resigns for good reason within twelve months following a change of control, he will be entitled to severance equal to three times the sum of his annual base salary and target annual bonus opportunity. The company stated these revisions are intended to align his compensation with prevailing market practices.
Prairie Operating Co. is incorporated in Delaware and is based in Houston, Texas. The company’s common stock is listed on The Nasdaq Stock Market LLC under the symbol PROP. The information in this article is based on a press release statement and the company’s recent SEC filing.
In other recent news, Prairie Operating Company reported strong financial results for the second quarter of 2025, with a notable rise in both adjusted EBITDA and net income. The company’s performance has been well-received by the market, as evidenced by investor optimism. These developments highlight the company’s financial growth and operational efficiency. While the stock’s aftermarket movement was positive, the primary focus remains on the company’s earnings and revenue results. Investors and analysts will be closely monitoring Prairie Operating Company’s future financial disclosures for continued growth trends. The recent earnings call emphasized the company’s successful strategies in achieving these results. Prairie Operating Company’s financial health appears robust based on the latest quarterly outcomes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.