Vivakor closes $120M acquisition of Endeavor Entities; appoints new COO

Vivakor, Inc.

Acquired all membership interests in four crude-hauling entities for $120M in common and Series A preferred stock.
CEO James Ballengee beneficially owns sellers; issued 19.99% of pre-closing common plus preferred with 6% cumulative dividend.
Russ Shelton appointed EVP & COO; base salary $337K, annual incentive up to $808K, $150K signing stock grant (18-mo lockup).
Combined fleet >500 tractors/trailers hauling ~60K bbl crude and ~30K bbl produced water daily; also owns Oklahoma shuttle pipeline.

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Executive movements

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Appointed

Russ Shelton

Executive Vice President & Chief Operating Officer

VIVK · Vivakor, Inc.

Filed: October 7, 2024, 7:59 PM ET

Russ Shelton, 48, Executive Vice President & Chief Operating Officer

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Russ Shelton was appointed as Executive Vice President & Chief Operating Officer at Vivakor, Inc..

Action: appointed
Role: Executive Vice President & Chief Operating Officer

Exact text from the filing

Russ Shelton, 48, Executive Vice President & Chief Operating Officer

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Vivakor, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-24-006683

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