PEDEVCO Corp. filed a current report on September 21, 2026, disclosing a chief executive officer transition in which J. Douglas Schick departed as President, CEO, and board member, and Chief Operating Officer Reagan Tuck (R.T.) Dukes was appointed interim President and CEO effective the same date.

Key Highlights

  • CEO departure: J. Douglas Schick ceased serving as President, CEO, and board member of PEDEVCO Corp. on September 21, 2026.
  • Interim appointment: R.T. Dukes, the company's Chief Operating Officer, was named interim President and CEO effective September 21, 2026.
  • Transition period: Mr. Schick will remain employed as a non-executive Senior Advisor through December 31, 2026, providing transition services.
  • Separation package: Mr. Schick's agreement includes 2.5 times the sum of his annual base salary and target annual bonus, plus a cash payment of $255,000 in lieu of any 2026 annual bonus.
  • Health continuation: The company will pay or reimburse premiums for continuation coverage under its group health plans for up to 30 months following the Separation Date.
  • Legal fee reimbursement: Mr. Schick is entitled to reimbursement of up to $10,000 in documented legal fees incurred in connection with review of the separation agreement.
  • Equity vesting: Mr. Schick's unvested company equity awards will receive accelerated vesting under the terms of the transition and separation agreement.

PEDEVCO Corp. CEO Transition Details and Terms of Separation

According to the filing, PEDEVCO Corp. (NYSE American:PED) announced on September 21, 2026, that J. Douglas Schick had ceased to serve as the company's President and Chief Executive Officer and as a member of its Board of Directors. The company disclosed that his transition "is not due to any disagreement with the Company or on any matter related to the Company's operations, policies or practices." Mr. Schick will serve in a non-executive Senior Advisor capacity through the Separation Date of December 31, 2026, at which time his employment will end.

The filing disclosed that the company entered into a transition and separation agreement and general release of claims with Mr. Schick. Under that agreement, Mr. Schick receives separation payments and benefits as specified under his existing employment agreement, consisting of 2.5 times the sum of his annual base salary and target annual bonus, company payment or reimbursement of health continuation premiums for up to 30 months following the Separation Date, and accelerated vesting of his unvested equity awards. Additionally, he will receive a cash payment of $255,000 in lieu of any 2026 annual bonus and reimbursement of up to $10,000 in documented legal fees. The agreement also includes customary covenants and a general release of claims in favor of the company and its affiliates.

R.T. Dukes, age 42, was appointed interim President and CEO effective September 21, 2026. According to the filing, Mr. Dukes has over 20 years of experience in the oil and gas industry. He has served as the company's Chief Operating Officer since the company's 2025 merger with certain portfolio companies controlled by Juniper Capital Advisors, L.P. Prior to joining PEDEVCO in October 2025, Mr. Dukes served as Chief Financial Officer and later Chief Executive Officer of Century Natural Resources, LLC from October 2019 to October 2025. Before that, he served as Research Director and Director of North American Supply at Wood Mackenzie Limited from June 2014 to September 2019. Mr. Dukes holds a BS in Accounting and an MS in Finance from Texas A&M University.

What Was Disclosed

PEDEVCO Corp. disclosed a CEO transition effective September 21, 2026, including the departure of J. Douglas Schick, the interim appointment of R.T. Dukes, and the financial terms of a transition and separation agreement with Mr. Schick.