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TELL Tellurian

Filed: 16 Dec 20, 8:00am

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):          December 15, 2020

  

 

 

Tellurian Inc.

(Exact name of registrant as specified in its charter)

 

Delaware 001-5507 06-0842255
(State or other jurisdiction of
incorporation)
 (Commission File Number) (I.R.S. Employer
Identification No.)

 

1201 Louisiana Street, Suite 3100, Houston, TX 77002
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code:       (832) 962-4000

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common stock, par value $0.01 per share TELL Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

 

 

 

 

Item 8.01Other Items.

 

On December 15, 2020, upon the recommendation of the compensation committee of the board of directors (the “Board”) of Tellurian Inc. (the “Company”), the Board approved certain compensation for the Company’s Executive Chairman, Charif Souki, in relation to his appointment as Executive Chairman, which was previously disclosed in the Company's Form 8-K filed on June 23, 2020. Mr. Souki’s service in such capacity includes working closely with management on the Company’s financing activities and the development and financing of the Driftwood Project. For fiscal year 2020, the Board approved the payment of cash compensation of $900,000. For his continued service during fiscal year 2021, the Board approved the payment of cash compensation of $100,000 per month and the issuance of 10,000,000 non-qualified stock options under the Amended and Restated Tellurian Inc. 2016 Omnibus Incentive Compensation Plan. The stock options will have a term of five years, with one-third of the options vesting on each of the one-year, two-year, and three-year anniversaries of the grant date, with exercise prices of $3.50, $4.50 and $5.50 per share, respectively.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   
 TELLURIAN INC.
   
   
 By:/s/ L. Kian Granmayeh
 Name:L. Kian Granmayeh
 Title:Executive Vice President and Chief Financial Officer

 

Date: December 16, 2020