People: Parsley Energy Inc (PE.N)
Mr. Matthew Gallagher is re designated as President, Chief Executive Officer and Director of the Company effective January 1, 2019. As previously announced and discussed in more detail below, the Company adopted a succession plan in January 2018 pursuant to which Matthew Gallagher, the Company’s President and Chief Operating Officer since January 2017, will succeed Mr. Sheffield as Chief Executive Officer, and be appointed President and Chief Executive Officer, effective January 1, 2019. Mr. Gallagher was appointed to the Board of Directors concurrent with this announcement in January 2018. In the interest of promoting the stability of our leadership transition, upon the recommendation of the Nominating and Governance Committee, the Board of Directors determined that it was reasonable and in the best interests of the Company and our stockholders to appoint Mr. Gallagher to the Board in 2018 as a Class III director. Mr. Gallagher has a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines, serves on the board of directors of the Permian Basin Petroleum Association and is a member of the Permian Basin Society of Petroleum Engineers and West Texas Geological Society. The Board determined that it was appropriate for Mr. Gallagher to serve as a member of our Board of Directors because of his extensive experience with the Company, including most recently as President and Chief Operating Officer, and his expected succession to Chief Executive Officer. We believe that these same characteristics qualify him to serve on our Board of Directors.
|Total Annual Compensation, USD||536,536|
|Restricted Stock Awards, USD||2,569,370|
|Long-Term Incentive Plans, USD||--|
|All Other, USD||779,322|
|Fiscal Year Total, USD||3,885,230|