UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A

 

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No.       )

 

Filed by the Registrant x  
 
Filed by a Party other than the Registrant ¨
 
Check the appropriate box:  
¨ Preliminary Proxy Statement
¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
¨ Definitive Proxy Statement
x Definitive Additional Materials
¨ Soliciting Material under §240.14a-12

 

PDC ENERGY, INC.
(Name of Registrant as Specified In Its Charter)
 
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
 
Payment of Filing Fee (Check the appropriate box):
x  No fee required.
¨   Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
     
(2) Aggregate number of securities to which transaction applies:
     
(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
     
(4) Proposed maximum aggregate value of transaction:
     
(5) Total fee paid:
     
¨   Fee paid previously with preliminary materials.  
   
¨   Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
     
(2) Form, Schedule or Registration Statement No.:
     
(3) Filing Party:
     
(4) Date Filed:
     

 

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 17, 2021 (May 14, 2021)

 

 

 

PDC Energy, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-37419   95-2636730
(State or other jurisdiction of   (Commission   (I.R.S. Employer
incorporation or organization)   File Number)   Identification Number)

 

1775 Sherman Street, Suite 3000
Denver, Colorado 80203
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (303) 860-5800

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common stock, par value $0.01 per share   PDCE   Nasdaq Global Select Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

Item 8.01. Other Events.

 

On May 14, 2021, Lynn A. Peterson agreed to resign as a member of the Compensation Committee of the board of directors (the “Board”) of PDC Energy, Inc. (the “Company”), effective at the Company’s Annual Meeting of Stockholders (the “Annual Meeting”) on May 26, 2021. Mr. Peterson’s resignation is in response to concerns expressed recently over his service on the Compensation Committee, given his service as Chief Executive Officer and President of SRC Energy Inc. (“SRC”) prior to the merger between the Company and SRC. The Board determined that Mr. Peterson is independent as defined in the applicable rules of the Securities and Exchange Commission and Nasdaq. However, despite the Board’s opinion that Mr. Peterson’s extensive qualifications make him an asset to the Compensation Committee and that his prior service as SRC’s Chief Executive Officer and President does not interfere with the exercise of independent judgment in his carrying out the responsibilities of a member of the Compensation Committee, Mr. Peterson believes that since some of the Company’s stockholders may have concerns, he should voluntarily resign from the Compensation Committee.

 

Mr. Peterson’s resignation from the Compensation Committee will have no effect on his continued service as a valuable member of the Board and he continues to be a nominee for election to the Board at the Annual Meeting. For further clarity, Mr. Peterson’s resignation is not the result of a disagreement with any member of the Compensation Committee.

 

The information set forth herein supplements the Company’s proxy statement dated April 14, 2021 and is being furnished to holders of the Company’s common stock in connection with the solicitation of proxies on behalf of the Board for use at the Annual Meeting.

 

 

 

 

SIGNATURES

 

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.

 

Dated:  May 17, 2021 PDC ENERGY, INC.
  By: /s/ Nicole Martinet
  Name: Nicole Martinet
  Title: General Counsel, Senior Vice President and Corporate Secretary