Short answer
Prairie Operating Co. (PROP) filed an 8-K current report with the SEC on June 25, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). CEO and director Gregory Patton replaces prior leadership; Michael Shelly becomes CFO, effective June 23, 2026.
Prairie Operating Co. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- CEO and director Gregory Patton replaces prior leadership; Michael Shelly becomes CFO, effective June 23, 2026
- Patton base salary at least $625,000, with 100% target bonus and LTIP target worth at least 300% of salary
- Shelly base salary at least $525,000, with 100% target bonus and LTIP target worth at least 300% of salary
- Equity awards total 2.25 million shares: Patton 850,000 and Shelly 1.4 million, creating substantial potential dilution
- 2025 PSU awards reset initial stock value to $2.75 per share for three-year relative shareholder-return measurement
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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