Vivakor settles lawsuit with ex-CFO for $2M; former GC resigns with $200K package

Vivakor, Inc.

Settlement with former CFO Tyler Nelson for $2M: $250k paid on signing, $100k in 30 days, $100k in 60 days, $1.55M in 90 days.
Transition agreement with former EVP/GC Patrick Knapp: $50k cash effective date, $50k cash by Dec 31, 2025, $100k in unrestricted stock.
Kimberly Hawley (CFO) appointed Secretary after Knapp's resignation effective Nov 10, 2025.
Lender J.J. Astor & Co. converted $150k of convertible note into 2,043,597 shares on Nov 7 and another $150k into 1,827,040 shares on Nov 10.
Lawsuit dismissed with court retaining jurisdiction until final payment is made under the settlement.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.99

Vivakor, Inc. issued 2,043,597 shares and 1,827,040 shares of common stock to J.J. Astor & Co. for conversion of $150,000 of the Principal Amount of the Initial Note each.

Security: common stock
Shares: 2,043,597 shares and 1,827,040 shares
Purchaser: J.J. Astor & Co.
Consideration: conversion of $150,000 of the Principal Amount of the Initial Note each

Exact text from the filing

On November 7, 2025 and November 10, 2025, the Company received Notices of Conversion from the Lender each converting $150,000 of the Principal Amount of the Initial Note into 2,043,597 shares and 1,827,040 shares of the Company’s common stock, respectively (the “Shares”).

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Vivakor, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-25-009074

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