Trio Petroleum CEO Frank Ingriselli resigns; Michael Peterson appointed CEO effective Oct 23

Trio Petroleum Corp

Frank Ingriselli resigns as CEO effective Oct 23, 2023; remains director and Vice Chairman.
Michael L. Peterson appointed CEO effective Oct 23; annual base salary of $350,000.
Peterson granted 1,000,000 restricted shares vesting over 2 years.
Ingriselli enters consulting agreement through Dec 31, 2023 for $10,000/month via his wholly-owned firm.
Peterson has over 40 years experience; serves on multiple boards including Ocean Biomedical and Indonesia Energy.

item 5.02 item 9.01

Executive movements

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Appointed

Michael L. Peterson

Chief Executive Officer

TPET · Trio Petroleum Corp

Effective: 2023-10-23
Filed: October 17, 2023, 7:59 PM ET

On October 16, 2023, the Company and Michael L. Peterson entered into an employment agreement (the “Peterson Employment Agreement”), effective as of October 23, 2023 (the “Peterson Employment Agreement Effective Date”), pursuant to which Mr. Peterson will serve as Chief Executive Officer of the Company, replacing Mr. Ingriselli.

Role change

Frank C. Ingriselli

Chief Executive Officer

TPET · Trio Petroleum Corp

Effective: 2023-10-23
Successor: Michael L. Peterson
Filed: October 17, 2023, 7:59 PM ET

On October 6, 2023, Frank C. Ingriselli delivered to the Board of Directors (“Board”) of Trio Petroleum Corp. (the “Company”) a notice of his resignation as the Company’s Chief Executive Officer, effective on October 23, 2023 (the “Resignation Effective Date”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael L. Peterson was appointed as Chief Executive Officer at Trio Petroleum Corp.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On October 16, 2023, the Company and Michael L. Peterson entered into an employment agreement (the “Peterson Employment Agreement”), effective as of October 23, 2023 (the “Peterson Employment Agreement Effective Date”), pursuant to which Mr. Peterson will serve as Chief Executive Officer of the Company, replacing Mr. Ingriselli.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Frank C. Ingriselli resigned as Chief Executive Officer at Trio Petroleum Corp.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On October 6, 2023, Frank C. Ingriselli delivered to the Board of Directors (“Board”) of Trio Petroleum Corp. (the “Company”) a notice of his resignation as the Company’s Chief Executive Officer, effective on October 23, 2023 (the “Resignation Effective Date”).

View on SEC.gov

Trio Petroleum Corp filing history →

Source: SEC EDGAR

accession 0001493152-23-037503

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