Permian Resources Corporation announced a corporate reorganization to strengthen shareholder alignment and advance towards simplification.
Management team members and long-term holders are exchanging Class C shares for Class A shares to align with public investors.
The reorganization is a key step towards simplifying the corporate structure to a C-Corp with a single share class.
Management and Shareholder Alignment
Management team members exchanging Class C shares for Class A shares to align with public investors.
Peer-Leading Ownership
Management team owns over 6% of total shares outstanding, focused on long-term value creation.
Compensation Structure
Co-CEOs receive 100% of compensation in performance stock units (PSUs) to maintain alignment.
Employee Compensation
Board and employees compensated primarily in equity to reinforce ownership mentality.
Total Shareholder Return
Highest total shareholder return of peer group with annualized return of 27% versus peer average of (5)%.
- The reorganization enhances shareholder alignment, governance, and long-term value creation.
- Simplifying the corporate structure to a single share class improves transparency and consistency in ownership.
- The transaction does not alter the proportionate ownership or voting rights of existing equity holders.
The corporate reorganization of Permian Resources Corporation underscores its commitment to shareholder alignment and governance excellence, paving the way for continued success in the future.