Vivakor appoints James Ballengee as CEO; to issue 7M shares to cancel $10M of notes

Vivakor, Inc.

James Ballengee named CEO and Chairman; annual compensation of $1M in common stock at VWAP.
Company to issue 7,042,254 restricted shares to cancel $10M of notes owed to Jorgan/JBAH, subject to shareholder approval.
Ballengee gets rights to nominate two additional directors (third after note share issuance).
Ballengee is sole manager of Jorgan Development, a seller in the prior $37.4M acquisition – related party.
Note amendment requires filing a resale registration statement within 30 days of shareholder approval.

item 1.01 item 5.02 item 9.01

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Appointed

James Ballengee

Chief Executive Officer and President

VIVK · Vivakor, Inc.

Filed: November 3, 2022, 7:59 PM ET

James Ballengee, 57, Chief Executive Officer and President

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

James Ballengee was appointed as Chief Executive Officer and President at Vivakor, Inc..

Action: appointed
Role: Chief Executive Officer and President

Exact text from the filing

James Ballengee, 57, Chief Executive Officer and President

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Vivakor, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-22-007258

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