Pioneer sets 2023 base salaries, bonus targets, equity grants for NEOs; updates bylaws

PIONEER NATURAL RESOURCES CO

CEO Scott Sheffield base salary set at $1.5M; other NEOs at $560K-$768K.
2023 bonus targets: CEO 160% of base, other NEOs 85%-100%.
Long-term incentive: CEO awarded 32,542 performance units and 21,695 RSUs; other NEOs proportionally.
Committee amended change-in-control agreements with double-trigger vesting and enhanced separation benefits (2.99x salary+bonus).
Board amended bylaws to update stockholder meeting procedures and adopt universal proxy rules.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PIONEER NATURAL RESOURCES CO: Amendment and restatement of the bylaws to update procedures for stockholder meetings, director nominations, notice, and other clarifying changes, effective February 9, 2023 (effective 2023-02-09).

Change: bylaw amendment
Effective: 2023-02-09

Exact text from the filing

On February 9, 2023, the Board approved the amendment and restatement of the bylaws of the Company (the “Bylaws”), effective as of such date.

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Source: SEC EDGAR

accession 0001193125-23-035969

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