Battalion Oil Corp. - Form 8-K Filing Summary

Battalion Oil Corporation announced updates to its executive compensation and director compensation programs on June 18, 2026. Effective July 1, 2026, non-employee directors will receive an annual retainer of $225,000, with additional retainers for the Chairman of the Board ($75,000) and committee chairs ($25,000 per committee). The company also established a new "Retention and Incentive Plan" for executive officers and key employees, including a $5.0 million bonus pool payable upon a change in control, subject to CPI-U adjustments starting January 1, 2027. An additional "Waterfall Merger Incentive Program" was approved, offering a cash or equity incentive pool based on the increase in the company's value above a base amount, with payouts ranging from 10% to 20% depending on the internal rate of return. Both the bonus pool and the Waterfall Merger Incentive Program will expire on December 31, 2030. Additionally, the Board confirmed that the vesting condition for 35,419 restricted stock units awarded under the 2020 Long-Term Incentive Plan has been met due to a change of control event.