23 May 2006material agreement● Neutral
Directors' pay was reset for the year, with the audit-committee chair's retainer raised from $15,000 to $20,000.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 May 2006substantial holder notice● Neutral
PALO ALTO INVESTORS reported a HARVEST NATURAL RESOURCES, INC. shareholding of 4.36% of votes in a periodic institutional filing.
4 Apr 2006material agreement● NeutralMajor
The shape of the Venezuelan conversion became clear: Harvest's local company signed a memorandum with PDVSA and state agency CVP to fold the South Monagas fields into a mixed company in which a Harvest affiliate would hold 40% - 32% net to Harvest - and the state 60%, under a twenty-year licence. Harvest was accepting minority status in the business it had built and operated.
14 Mar 2006director officer appointment● Neutral
Byron A. Dunn's contract as senior vice-president of corporate development was disclosed - $200,000 a year and options over 225,000 shares, backdated in effect to September 2005.
13 Feb 2006substantial holder notice● Neutral
Cumberland Associates LLC reported a HARVEST NATURAL RESOURCES, INC. shareholding of 2,525,000 shares (6.67% of votes) in a periodic institutional filing.
26 Jan 2006substantial holder notice● Neutral
BARCLAYS GLOBAL INVESTORS, NA. and 1 other disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (6.62% of votes).
10 Jan 2006substantial holder notice● Neutral
Capital Research and Management Company, SMALLCAP World Fund, Inc reported a HARVEST NATURAL RESOURCES, INC. shareholding of 2,403,000 shares (6.30% of votes) in a periodic institutional filing.
18 Nov 2005director officer appointment● Neutral
J. Michael Stinson was elected to the board on the standard terms and given a first option grant. He would resign a decade later, in June 2015, as part of the CT Energy rescue.
19 Sept 2005director officer appointment● NeutralMajor
Chief executive Peter Hill retired at the end of September on a package that kept him as a $33,334-a-month consultant on Russia until May 2006 plus a $300,000 bonus. James Edmiston, hired a year earlier as operating chief, took over.
16 Sept 2005material agreement● Neutral
New employment contracts for finance chief Steven Tholen, general counsel Kerry Brittain and Karl Nesselrode, chiefly to improve what they would receive if the company changed hands - signed as the Venezuelan negotiation put the company's future in doubt.
8 Aug 2005material agreement▼ BadMajor
Venezuela began changing the terms. Harvest's 80%-owned local company signed a transitory agreement capping the fee it earned on the South Monagas Unit at two-thirds of the value of the oil, and committing both sides to negotiate converting the operating contract into a state-majority 'mixed company'. The asset Harvest depended on was being taken back under national control.
25 May 2005material agreement● Neutral
Directors' pay was set: a $36,000 annual retainer, $1,500 per meeting, committee-chair retainers of $10,000 to $15,000, and a further $120,000 a year for non-executive chairman Mr Chesebro.
18 Apr 2005security holder rights change● Neutral
Harvest restated its takeover-defence rights plan with Wells Fargo as rights agent - the standard mechanism that dilutes anyone crossing a set ownership threshold. The plan would be amended four more times over the next decade, each amendment marking a change in who was allowed to accumulate the stock.
8 Apr 2005substantial holder notice● Neutral
Capital Research and Management Company, SMALLCAP World Fund, Inc reported a HARVEST NATURAL RESOURCES, INC. shareholding of 4,273,400 shares (11.60% of votes) in a periodic institutional filing.
23 Feb 2005material agreement● Neutral
The board gave every director and elected officer a contractual indemnity for the fullest protection Delaware law allows, saying it needed to in order to attract and keep people.
14 Feb 2005substantial holder notice● Neutral
Trafelet & Company, LLC, Remy W. Trafelet reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,112,300 shares (3.05% of votes) in a periodic institutional filing.
14 Feb 2005substantial holder notice● Neutral
Capital Research and Management Company, SMALLCAP World Fund, Inc disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (7.60% of votes).
26 Jan 2005substantial holder notice● Neutral
Cumberland Associates LLC disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (5.20% of votes).
8 Dec 2004substantial holder notice● Neutral
HEARTLAND ADVISORS, INC. #, WILLIAM J. NASGOVITZ reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,551,300 shares (4.20% of votes) in a periodic institutional filing.
2 Sept 2004director officer appointment● Neutral
James A. Edmiston joined as executive vice-president and chief operating officer on $300,000 and a $50,000 signing bonus. He would become chief executive within a year and stay until the company was wound up thirteen years later.
25 May 2004director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. director Patrick M Murray received a stock option grant for 5,000 shares.
25 May 2004director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. director Byron A Dunn received a stock option grant for 5,000 shares.
25 May 2004director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. director Stephen D Chesebro received a stock option grant for 5,000 shares.
10 May 2004substantial holder notice● Neutral
Trafelet & Company, LLC, Remy W. Trafelet disclosed a new substantial HARVEST NATURAL RESOURCES, INC. shareholding (5.50% of votes).
17 Feb 2004substantial holder notice● Neutral
Cumberland Associates LLC reported a HARVEST NATURAL RESOURCES, INC. shareholding of 1,200,000 shares (3.40% of votes) in a periodic institutional filing.
13 Feb 2004substantial holder notice● Neutral
HEARTLAND ADVISORS, INC. #, WILLIAM J. NASGOVITZ reported a HARVEST NATURAL RESOURCES, INC. shareholding of 3,340,000 shares (9.40% of votes) in a periodic institutional filing.
12 Feb 2004substantial holder notice● Neutral
Cumberland Associates LLC reported a HARVEST NATURAL RESOURCES, INC. shareholding of 2,096,200 shares (5.90% of votes) in a periodic institutional filing.
16 Dec 2003director interest notice● Neutral
Byron A Dunn became a HARVEST NATURAL RESOURCES, INC. director and company insider (initial ownership filing).
21 Nov 2003director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. General Counsel & Secretary Kerry R Brittain bought 1,000 shares on the open market at $6.99.
21 Nov 2003director interest notice● Neutral
HARVEST NATURAL RESOURCES, INC. President & CEO Peter J Hill bought 23,502 shares on the open market at $7.21.