Current Report Filing (8-k)
March 20 2017 - 6:12AM
Edgar (US Regulatory)
United
States
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of report (Date of earliest event reported): March 14, 2017
HOUSTON
AMERICAN ENERGY CORP.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
1-32955
|
|
76-0675953
|
(State or other jurisdiction
of
incorporation or organization)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
801
Travis Street, Suite 1425
Houston,
Texas 77002
(Address
of principal executive offices, including zip code)
713-222-6966
(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions (see General Instruction A.2. below):
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 5.02.
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
|
On
March 14, 2017, the compensation committee (the “Committee”) of Houston American Energy Corp. (the “Company”)
approved revised compensation arrangements for John P. Boylan, Chairman, Chief Executive Officer and President of the Company.
The compensation of Mr. Boylan, as so revised, includes:
|
●
|
Annual
base salary of $250,000, effective January 1, 2017, payable $10,000 per month with unpaid salary accruing until such time
as the Committee determines that the Company has sufficient financial capability to pay full salary; amounts accrued and unpaid
will be paid based on financial capacity as determined by the Committee;
|
|
|
|
|
●
|
Annual
bonuses to be paid as determined by the Committee;
|
|
|
|
|
●
|
Grant,
pursuant to the Company Production Incentive Compensation Plan, of a 1% interest in Company revenues from all wells drilled
on the Company’s Reeves County, Texas acreage; and
|
|
|
|
|
●
|
Grant
of stock option to purchase 500,000 shares of common stock.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
HOUSTON AMERICAN ENERGY CORP.
|
|
|
Dated: March 20, 2017
|
|
|
|
By:
|
/s/ John P. Boylan
|
|
|
John P. Boylan
|
|
|
Chief Executive Officer
|
Houston American Energy (AMEX:HUSA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Houston American Energy (AMEX:HUSA)
Historical Stock Chart
From Apr 2023 to Apr 2024