---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-026324"
form_type: "8-K"
ticker: "PROP"
cik: "0001162896"
company_name: "Prairie Operating Co."
filed_at: "2026-06-25T11:45:39+00:00"
generated_at: "2026-06-25T11:51:02.744876+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Prairie Operating appoints Gregory S. Patton as CEO and Michael Shelly as CFO

## Summary
- Patton, previously EVP/CFO, becomes CEO; receives $625k base salary and 850,000-share equity award split between PSUs (price milestones) and RSUs (3-year vest).
- Shelly, former Citigroup MD, becomes EVP/CFO; receives $525k base salary and 1,400,000-share equity award (560k PSUs on relative TSR, 840k RSUs vesting over 3 years).
- Both executives have annual bonus target of 100% of base salary and LTIP target of 300% of base salary.
- Compensation Committee amended 2025 PSU awards to set Initial Value at $2.75 per share for TSR performance period ending Dec 31, 2027.

## SEC filing metadata
- accession: 0001140361-26-026324
- form_type: 8-K
- ticker: PROP
- cik: 0001162896
- company_name: Prairie Operating Co.
- filed_at: 2026-06-25T11:45:39+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1162896/000114036126026324/0001140361-26-026324-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1162896/000114036126026324/ef20076789_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-026324
- JSON: https://secwatch.observer/filing/0001140361-26-026324.json
- Plain text: https://secwatch.observer/filing/0001140361-26-026324.txt

## Key facts
- Executive change
  Gregory S. Patton was appointed as Chief Executive Officer at Prairie Operating Co..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: appointed (i) Gregory S. Patton, the Company’s Executive Vice President and Chief Financial Officer, to serve as Chief Executive Officer of the Company and as a member of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000114036126026324/0001140361-26-026324-index.htm
- Executive change
  Gregory S. Patton was appointed as Director at Prairie Operating Co..
  - Action: appointed
  - Role: Director
  source text: appointed (i) Gregory S. Patton, the Company’s Executive Vice President and Chief Financial Officer, to serve as Chief Executive Officer of the Company and as a member of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1162896/000114036126026324/0001140361-26-026324-index.htm

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