EVOLUTION PETROLEUM CORP appointed new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On July 5, 2022, the Company announced that Mr. Jason Brown, the President and Chief Executive Officer of Evolution Petroleum Corporation (the "Company") is departing as the President and Chief Executive Officer of the Company to pursue other opportunities. In connection with Mr. Brown's departure, the Board appointed Mr. Kelly W. Loyd interim President and Chief Executive Officer effective immediately. The Board intends to immediately initiate a search process.


Mr. Loyd, 48, has been a director of the Company since 2008 and currently chairs the Investment Committee of the Board. Since 2004, Mr. Loyd has been associated with Petralis Energy Partners, LLC and JVL Advisors, LLC, both being private energy investment vehicles. From 2001 to 2004, Mr. Loyd was an associate in the energy corporate finance investment banking group at RBC Capital Markets and Howard Frazier Barker Elliot. Previously, Mr. Loyd served as a founder and controller of L.A.B. Sports and Entertainment, a sports/entertainment promotion and production company, a Managing Partner of Tigre Leasing, L.L.P, a commercial real estate company focused on the purchase/sale of resort properties, and as an analyst in Jefferies and Company, Inc.'s energy corporate finance investment banking group. Mr. Loyd received a B.S. in Economics with Finance Applications from Southern Methodist University and earned an MBA from Rice University.


In conjunction with Mr. Loyd serving as interim President and Chief Executive Officer of the Company, he will receive cash compensation of $27,000 per month, in lieu of his regular board compensation, which is approximately the monthly cash equivalent to the current base pay paid to Mr. Brown for his service in those roles.


Mr. Loyd does not have any family relationship with any director or other executive officer of the Company, or person nominated or chosen by the Company to become a director or executive officer. In addition, there are no transactions in which Mr. Loyd had or will have a direct or indirect material interest that would be required to be reported under Item 404(a) of Regulation S-K.