secwatch.observer — SEC 8-K summary
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Issuer:     Prairie Operating Co. (PROP)
CIK:        0001162896
Form:       8-K
Filed at:   2026-03-03T23:59:59+00:00
Accession:  0001140361-26-007456
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162896/000114036126007456/0001140361-26-007456-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162896/000114036126007456/ef20066985_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-007456

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