secwatch.observer — SEC 8-K summary
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Issuer:     CIVITAS RESOURCES, INC. (—)
CIK:        0001509589
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001104659-25-045550
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civitas appoints Clay Carrell as President and COO, effective immediately
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- Clayton A. Carrell named President and COO, reporting to CEO Chris Doyle; effective May 7, 2025.
- Carrell previously EVP & COO at Southwestern Energy and EP Energy; over 35 years industry experience.
- Compensation: $875k base salary, $2.625M LTIP target (30% RSUs, 70% PSUs), $875k equity sign-on, $500k cash sign-on.
- Severance: 150% base salary (no CIC) or 250% (within 12 months post-CIC), plus COBRA reimbursement.
- CEO Chris Doyle ceases his additional principal operating officer role effective immediately.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1509589/000110465925045550/0001104659-25-045550-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1509589/000110465925045550/tm2514090d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-045550

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