---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-043845"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2026-04-15T23:59:59+00:00"
generated_at: "2026-05-15T06:14:51.476342+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Hallador Energy CEO salary raised to $800k; $1M target bonus opportunities for top executives

## Summary
- Base salary increases: CEO Bilsland from $675k to $800k; CFO Telesz $500k to $525k; COO Lovell $450k to $500k, effective April 1, 2026.
- Target bonus for 2026: Bilsland $500k, Telesz $200k, Lovell $300k; 50% of bonus tied to Adjusted EBITDA ($68M target).
- One-time RSU grants: Bilsland 69,808 ($1.2M), Telesz 15,998 ($275k), Lovell 23,270 ($400k); vest ratably over 3 years.
- Change-in-control retention: Bilsland gets $2.4M salary portion + 3× prior bonus; Telesz $1.3125M, Lovell $1.25M, plus health coverage.
- New severance agreements: 12 months base salary + prior year bonus on qualifying termination; effective until change-in-control or March 31, 2027.

## SEC filing metadata
- accession: 0001104659-26-043845
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2026-04-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000110465926043845/0001104659-26-043845-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000110465926043845/hnrg-20260409x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-043845
- JSON: https://secwatch.observer/filing/0001104659-26-043845.json
- Plain text: https://secwatch.observer/filing/0001104659-26-043845.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.