Trio Petroleum appoints co-founder Robin Ross as CEO; Michael Peterson resigns

Trio Petroleum Corp

Michael L. Peterson resigned as CEO and director effective July 11, 2024.
Peterson receives consulting fee of $10k/month and 1M RSUs subject to shareholder approval.
Robin Ross, Chairman and co-founder, appointed CEO effective July 11, 2024.
Ross employment: $300k base salary, target bonus up to 100%, 2M restricted stock grant.
Company expects meaningful Asphalt Ridge production within 30 days; plans to increase output.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Robin Ross

Chief Executive Officer

TPET · Trio Petroleum Corp

Effective: 2024-07-11
Filed: July 15, 2024, 7:59 PM ET

On July 11, 2024, the Company and Robin Ross entered into an employment agreement (the “Ross Employment Agreement”), effective as of July 11, 2024 (the “Ross Employment Agreement Effective Date”), pursuant to which Mr. Ross will serve as Chief Executive Officer of the Company, replacing Mr. Peterson, and will also continue to serve as the Chairman of the Board.

Departed

Michael L. Peterson

Chief Executive Officer

TPET · Trio Petroleum Corp

Effective: 2024-07-11
Successor: Robin Ross
Filed: July 15, 2024, 7:59 PM ET

On July 9, 2024, Michael L. Peterson 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 and a member of the Board, effective on July 11, 2024 (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

Robin Ross was appointed as Chief Executive Officer at Trio Petroleum Corp.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On July 11, 2024, the Company and Robin Ross entered into an employment agreement (the “Ross Employment Agreement”), effective as of July 11, 2024 (the “Ross Employment Agreement Effective Date”), pursuant to which Mr. Ross will serve as Chief Executive Officer of the Company, replacing Mr. Peterson, and will also continue to serve as the Chairman of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On July 9, 2024, Michael L. Peterson 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 and a member of the Board, effective on July 11, 2024 (the “Resignation Effective Date”).

View on SEC.gov

Trio Petroleum Corp filing history →

Source: SEC EDGAR

accession 0001493152-24-027237

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