secwatch.observer — SEC 8-K summary
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Issuer:     Coterra Energy Inc. (CTRA)
CIK:        0000858470
Form:       8-K
Filed at:   2023-09-19T23:59:59+00:00
Accession:  0000858470-23-000041
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coterra CEO Thomas Jorden extends contract through 2026, base salary raised to $1.2M
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- Employment period extended to October 1, 2026; base salary increased to $1,200,000 effective January 1, 2024.
- Target annual bonus raised to 140% of base salary (from 130%) starting in 2024.
- Annual long-term incentive target set at $10,000,000 grant-date fair value for 2024 onward.
- Upon termination without cause or for good reason, all outstanding equity awards accelerate and vest in full.
- Removal from CEO/president/board roles before 2024 annual meeting requires 75% board approval (excluding Jorden).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858470/000085847023000041/0000858470-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858470/000085847023000041/ctra-20230919.htm
  HTML page:      https://secwatch.observer/filing/0000858470-23-000041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer