secwatch.observer — SEC 8-K summary
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Issuer:     Prairie Operating Co. (PROP)
CIK:        0001162896
Form:       8-K
Filed at:   2026-06-25T11:45:39+00:00
Accession:  0001140361-26-026324
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162896/000114036126026324/0001140361-26-026324-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162896/000114036126026324/ef20076789_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-026324

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