---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-007456"
form_type: "8-K"
ticker: "PROP"
cik: "0001162896"
company_name: "Prairie Operating Co."
filed_at: "2026-03-03T23:59:59+00:00"
generated_at: "2026-05-15T22:00:05.179023+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Prairie CEO Kovalik resigns, President Hanna retires; Frommer named Interim CEO, Thoresen Chairman

## Summary
- Edward Kovalik resigns as CEO and Chairman, Gary Hanna retires as President and director, effective March 2, 2026.
- Richard N. Frommer appointed Interim President and CEO; Erik Thoresen appointed Chairman of the Board.
- Kovalik receives $2.53M severance (1.5x base+bonus), $750K 2025 bonus, and accelerated RSU vesting; performance RSUs forfeited.
- Hanna receives $675K 2025 bonus, accelerated time-based RSUs, and retains performance RSUs through performance period.
- Both assign overriding royalty interests in Genesis/Exok assets and agree to vote shares with Board recommendation for 3 years.

## SEC filing metadata
- accession: 0001140361-26-007456
- form_type: 8-K
- ticker: PROP
- cik: 0001162896
- company_name: Prairie Operating Co.
- filed_at: 2026-03-03T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1162896/000114036126007456/0001140361-26-007456-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1162896/000114036126007456/ef20066985_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-007456
- JSON: https://secwatch.observer/filing/0001140361-26-007456.json
- Plain text: https://secwatch.observer/filing/0001140361-26-007456.txt

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