Gulfport Energy Corporation’s three top executives acquired direct ownership of lucrative common stock shares in the Oklahoma City company, according to recent documents filed with the U.S. Securities and Exchange Commission.
Michael G. Moore, Gulfport’s President and Chief Executive Officer, was granted 40,367 shares of restricted common stock on March 10, 2016, according to the Statement of Changes in Beneficial Ownership of Securities (Form 4). The stock was issued pursuant to Gulfport’s performance-based annual incentive compensation plan in lieu of a portion of the cash bonus payable to him under the plan.
J. Ross Kirtley, Gulfport’s Chief Operating Officer, was awarded 14,830 shares of the restricted common stock while Aaron Gaydosik, the company’s Chief Financial Officer, was allotted 13,558 shares.
The shares of restricted stock will vest in approximately four equal annual installments during the first quarter of 2017.
Gulfport Energy is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast. In addition, Gulfport holds a sizeable acreage position in the Alberta Oil Sands in Canada through its 24.9% interest in Grizzly Oil Sands ULC and has an equity interest in Diamondback Energy, Inc., a NASDAQ Global Select Market listed company.
