9 Feb 2024substantial holder notice● Neutral
Dimensional Fund Advisors LP reported no remaining PDC ENERGY, INC. shareholding in its periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
25 Aug 2023listing compliance notice▼ BadMajor
PDC ENERGY, INC. deregistered its securities, ending its obligation to file reports with the SEC.
7 Aug 2023securities registration● Neutral
PDC ENERGY, INC. amended its automatic shelf registration statement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. director Diana L Sands disposed of 11,738 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. director Paul Korus disposed of 31,143 shares via option/appreciation-right settlement.
7 Aug 2023business combination● NeutralMajor
The Chevron merger closed on August 7, 2023. Each PDC share was converted into 0.4638 of a Chevron share, with cash paid instead of any fractional share. PDC is now a wholly owned Chevron subsidiary, its stock was suspended from Nasdaq and a Form 25 was filed to delist it. PDC also terminated its JPMorgan-led credit agreement and repaid the $560 million outstanding, with no early termination penalty. Equity awards were converted into Chevron awards or paid out in Chevron shares as set out in the merger terms. This completes the deal announced in May 2023, following the antitrust clearance and the proxy process.
7 Aug 2023listing compliance notice● NeutralMajor
PDC ENERGY, INC.'s exchange filed to remove a class of its securities from listing.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. director Mark E Ellis disposed of 49,734 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. EVP, Corp. Dev. & Strategy Lance Lauck disposed of 283,017 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. director Lynn A Peterson disposed of 228,850 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. SVP, Operations David Lillo disposed of 100,934 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. SVP, Operations Troy M. Welling disposed of 13,269 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. SVP, Corporate Administration Sandra E. Jacoby disposed of 14,471 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. director Pamela R Butcher disposed of 7,470 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. disposed of 814,963 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. EVP, CFO R Scott Meyers disposed of 220,385 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. SVP, General Counsel & Sec. Nicole L Martinet disposed of 126,426 shares via option/appreciation-right settlement.
7 Aug 2023director interest notice● Neutral
PDC ENERGY, INC. director Carlos A. Sabater disposed of 9,809 shares via option/appreciation-right settlement.
1 Aug 2023quarterly activities report● Neutral
PDC ENERGY, INC. reported quarterly revenue of $871.8 million and net income of $288.7 million for the period ended 2023-06-30.
28 July 2023business combination● Neutral
PDC said several shareholder lawsuits (three in Colorado federal court, one in Delaware, three in New York, one in Denver state court) challenge the disclosures about the Chevron merger. PDC and Chevron say the claims are without merit but voluntarily added extra detail to the July 7 proxy statement, including a $3 million fee paid to adviser PJT Partners (which had also received about $500,000 in retainer fees from Chevron in the prior two years), the adviser's valuation comparisons, and projected cash flows. The merger terms (0.4638 Chevron share per PDC share) and the August 4 vote are unchanged.
19 July 2023director interest notice● Neutral
PDC ENERGY, INC. EVP, CFO R Scott Meyers sold 2,500 shares at $70.87.
7 July 2023business combination● NeutralMajor
PDC filed its final proxy statement for the Chevron merger, calling a virtual special stockholder meeting for August 4, 2023 (record date June 26) to vote on adopting the merger agreement, which needs a majority of outstanding shares. The board unanimously recommends voting for it; at Chevron's June 27 price the 0.4638 exchange ratio was worth about $71.21 per PDC share, roughly a 9.4% premium to the May 19 close, and PDC holders would own about 2% of Chevron. The vote has not yet happened, so holders' shares are not yet exchanged.
6 July 2023business combination▲ GoodMajor
The US antitrust (HSR Act) waiting period for the Chevron merger expired on July 5, 2023, clearing one of the closing conditions. The filing says the merger still needs the other conditions, including PDC stockholder approval, and Chevron has by now filed its S-4 registration statement.
5 July 2023director interest notice● Neutral
PDC ENERGY, INC. SVP, Corporate Administration Sandra E. Jacoby had 1,218 shares withheld for taxes on vesting stock.
20 June 2023director interest notice● Neutral
PDC ENERGY, INC. EVP, CFO R Scott Meyers sold 2,500 shares at $70.94.
5 June 2023director interest notice● Neutral
PDC ENERGY, INC. President and CEO Barton R Brookman Jr. sold 2,000 shares at $68.71.
25 May 2023director interest notice● Neutral
PDC ENERGY, INC. director Pamela R Butcher received 2,683 shares as part of the equity award.
25 May 2023director interest notice● Neutral
PDC ENERGY, INC. director Diana L Sands received 2,683 shares as part of the equity award.
25 May 2023director interest notice● Neutral
PDC ENERGY, INC. director Carlos A. Sabater received 2,683 shares as part of the equity award.
25 May 2023director interest notice● Neutral
PDC ENERGY, INC. director Mark E Ellis received 3,205 shares as part of the equity award.