In connection with the appointment, PetroShale has granted Mr. Baldwin 110,602 restricted awards (“Restricted Awards”) and 442,408 performance awards (“Performance Awards”) pursuant to its Bonus Award Incentive Plan (“Plan”). The awards vest as to one-third on each of September 10, 2023, September 10, 2024 and September 10, 2025 and expire December 15, 2025. The awards may be settled by PetroShale, at the Company’s sole discretion, in cash and/or common shares of PetroShale, in accordance with the terms of the Plan.
About PetroShale
PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks.