Thread regarding Chaparral Energy layoffs

Golden Parachutes

Worried about losing your job here every day? Satisfied with YOUR crummy LTI? Don't worry it's all for the greater good. Our executive team needs to just cut our G&A a little bit more so they can award "retention" bonuses to themselves. WHAT A JOKE!

Executive officers will receive the following respective amounts under the KERP:
Executive Retention Program

Charles Duginski Chief Executive Officer, President and Director $ 725,000

Justin P. Byrne Vice President and General Counsel $ 520,000

Joshua D. Walker Vice President-Completions & Operations $ 305,000

Clinton J. Calhoun Vice President-Resource Development $ 300,000

Stephanie A. Carnes Vice President and Controller $ 300,000

Modification of Annual Incentive Plan.
The Company has historically made payments under its Annual Incentive Plan on an annual basis on or about March 15th of the year following the applicable performance period. The Committee has approved the
modification of the Annual Incentive Plan for the five executive officers named above; payments will now be measured and paid on a calendar quarterly basis.
As a result of the modification described above, each executive participant will receive one-half of his or her incentive target as soon as is possible, subject to clawback and true-up based on actual performance at
the end of the second quarter of 2020.

The target incentive amounts for each of the Company’s executive officers under the Annual Incentive Plan are set forth below:

Executive Position Target Incentive (1)

Charles Duginski Chief Executive Officer, President and Director $ 525,000

Justin P. Byrne Vice President and General Counsel $ 224,000

Joshua D. Walker Vice President-Completions & Operations $ 168,000

Clinton J. Calhoun Vice President-Resource Development $ 165,000

Stephanie A. Carnes Vice President and Controller $ 139,000

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Post ID: @OP+15qI7cE4

8 replies (most recent on top)

The end is near. If AMR is worth 200M, CHPE is worth maybe 50M? Banks don't care about leasehold, it is all about PDP. CHPE has less desirable assets. CHPE is 250M in debt and nowhere to go.

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Post ID: @Gqrp+15qI7cE4

Chapter 11 filing this week?

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Post ID: @Djap+15qI7cE4

What do you mean where is SC going to go? Where is anyone up there at any level in any department who is not reasonably paid against the new market trends going to go? Chap has a history of hiring and paying people at a premium, many times in vain.

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Post ID: @xaki+15qI7cE4

Keep in mind, these people already make millions of dollars a year in salary and bonus. Also, they’ve been awarded millions of dollars of stock as compensation with the idea being that increasing stock price is their performance based compensation. I understand they can’t control the price of oil but a retention bonus? Really ? Where is SC going to go to and make a million dollars a year? Let them leave

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Post ID: @5uml+15qI7cE4

Keep working hard, these people need their well deserved bonuses!

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Post ID: @5bgu+15qI7cE4

Will the Red Barn family become millionaires when this is all over?

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Post ID: @2arc+15qI7cE4

Time to defund the executive team at Chaparral.

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Post ID: @2muo+15qI7cE4

How is the GC walking away with so much cash? What has he done for Chaparral?

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Post ID: @1pml+15qI7cE4

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