TSX runs higher on rate cut expectations
Trio Petroleum Corp. (NYSE American:TPET), a small-cap energy company with a market capitalization of $8.73 million, reported several executive changes and compensation updates, according to a press release statement based on a recent SEC filing. The company’s stock has faced significant challenges, declining 77% over the past year, though InvestingPro analysis suggests it may be undervalued at current levels.
On August 1, 2025, Stanford Eschner resigned from his roles as Vice Chairman and director of Trio Petroleum. The company stated that Eschner’s resignation was not due to any disagreements with management or the board regarding company operations, policies, or practices. The board accepted his resignation and approved his engagement as a consultant to the company from August 1, 2025, through December 31, 2025. Under the consulting agreement, Eschner will receive $4,267 per month and a one-time grant of 15,000 shares of the company’s common stock, issued under the 2022 Equity Incentive Plan.
The company also disclosed changes to executive compensation. Effective August 1, 2025, the base salary of Chief Executive Officer Robin Ross was increased from $300,000 to $400,000 per year. Ross was also granted a one-time award of 625,000 shares of common stock under the 2022 Equity Incentive Plan. Additionally, the compensation committee approved a cash bonus of $150,000 for Ross, to be paid at a time determined by the board. The terms of Ross’s compensation changes will be documented in an amendment to his executive employment agreement.
Trio Petroleum’s Chief Financial Officer, Gregory Overholtzer, was also granted a one-time award of 62,500 shares of common stock under the 2022 Equity Incentive Plan. The agreement for this grant will be finalized following the filing of the SEC report.
Trio Petroleum Corp. is incorporated in Delaware and its common stock trades on the NYSE American under the symbol TPET. The information in this article is based on a press release statement and details disclosed in the company’s Form 8-K filed with the Securities and Exchange Commission.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.