UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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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 December 19, 2019, the Compensation Committee of the Board of Directors of Bonanza Creek Energy, Inc. (the “Company”), upon the recommendation of the Company’s Executive Vice President, General Counsel and Secretary, Cyrus (“Skip”) Marter, determined to make certain revisions to his compensation. Effective December 18, 2019, Mr. Marter’s annual base salary will decrease from $350,000 to $315,000. The change was made in recognition of recent organizational adjustments, which reduced the number of departments reporting to Mr. Marter, and the importance of reducing G&A expense at the Company when appropriate.
The other components of Mr. Marter’s compensation will remain unchanged.
SIGNATURE
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.
Bonanza Creek Energy, Inc. | ||
Dated: December 19, 2019 | By: | /s/ Cyrus D. Marter IV |
Name: | Cyrus D. Marter IV | |
Title: | Executive Vice President, General Counsel and Secretary |