Chord Energy Corporation filed a Form 8-K/A on November 2, 2026, amending its October 19, 2026 current report to disclose the compensation arrangements approved by the Board of Directors for Michael Lou following his appointment as President and Chief Executive Officer.

Key Highlights

  • Annual base salary: Michael Lou's base salary as President and Chief Executive Officer was set at $950,000.
  • Cash incentive target: Lou's target annual performance-based cash incentive award was set at 125% of his annual base salary, pro-rated for 2026 starting October 19, 2026.
  • RSU grant: Lou received a one-time restricted stock unit award of 6,543 restricted stock units, granted on October 29, 2026, under the Chord Energy Corporation Long Term Incentive Plan.
  • Vesting schedule: The RSU award vests in substantially equal installments on January 23, 2027, January 23, 2028, and January 23, 2029, subject to continued employment.
  • No director compensation: According to the filing, Lou will not receive any additional compensation for his service as a director.
  • Board approval date: The compensation changes were approved by the Board of Directors on October 28, 2026.

Chord Energy Discloses CEO Compensation Details for Michael Lou

Chord Energy Corporation (NASDAQ:CHRD) filed this Form 8-K/A as Amendment No. 1 to supplement the Original 8-K filed October 19, 2026, which had reported Lou's appointment as President and Chief Executive Officer effective that same date. The filing explained that, "at the time of the filing of the Original 8-K, these compensation arrangements had not yet been determined." The Board of Directors approved the arrangements on October 28, 2026.

According to the filing, Lou's annual base salary was established at $950,000. His target for the company's annual performance-based cash incentive award program was set at 125% of that base salary. The filing noted this incentive award will be pro-rated for the current year using the new base salary figure starting from October 19, 2026, the effective date of his appointment.

In addition to salary and cash incentive eligibility, Lou received a one-time RSU award of 6,543 restricted stock units granted on October 29, 2026, under the Chord Energy Corporation Long Term Incentive Plan. The award vests in substantially equal installments on each of January 23, 2027, January 23, 2028, and January 23, 2029, in each case subject to Lou's continued employment on the applicable vesting dates. The filing also stated that Lou will not receive any additional compensation for his service as a director of the company.

What Was Disclosed

This amendment disclosed the Board-approved compensation package for Michael Lou as Chord Energy's President and CEO, including a $950,000 base salary, a 125%-of-base cash incentive target, and a one-time grant of 6,543 restricted stock units vesting over three years.