Tellurian CEO not renewed; Executive Chairman appointed; mulls upstream sale

TELLURIAN INC. /DE/

CEO Octávio Simões employment not extended beyond June 5, 2024; Martin Houston named Executive Chairman.
President Daniel Belhumeur gets $850k base salary (up from $525k) and higher incentive targets.
Exploring sale of Haynesville/Bossier upstream assets; Lazard retained as advisor.
Driftwood LNG fully permitted; FERC extension received; first LNG targeted for 2028.
Debt restructured to reduce near-term cash obligations; corporate overhead materially reduced.

item 2.02 item 7.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Octávio Simões

Chief Executive Officer

TELLURIAN INC. /DE/

Effective: 2024-06-05
Filed: March 4, 2024, 6:59 PM ET

On March 1, 2024, the Board elected not to renew or extend the term of the Company’s employment agreement with Octávio Simões, the Chief Executive Officer of the Company, beyond the term ending on June 5, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Octávio Simões departed as Chief Executive Officer at TELLURIAN INC. /DE/.

Action: elected not to renew or extend
Role: Chief Executive Officer

Exact text from the filing

On March 1, 2024, the Board elected not to renew or extend the term of the Company’s employment agreement with Octávio Simões, the Chief Executive Officer of the Company, beyond the term ending on June 5, 2024.

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Source: SEC EDGAR

accession 0001104659-24-030237

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