Trio Petroleum Corp. Appoints James Blake as Class II Director

On October 21, 2024, Trio Petroleum Corp. (NYSEMKT:TPET) announced the appointment of James Blake to its Board of Directors as a Class II Director, filling the vacancy left by Michael L. Peterson’s resignation. A seasoned professional in the banking industry, Mr. Blake brings a wealth of experience as an investment advisor and Portfolio Manager, having served in various capacities until his retirement in 2024.

As part of the appointment, Trio Petroleum has agreed to grant Mr. Blake 250,000 shares of restricted stock under its 2022 Equity Incentive Plan. These shares are set to vest on the six-month anniversary of the date of grant, subject to specific conditions outlined in the Restricted Stock Grant Agreement between the Company and Mr. Blake. Additionally, Mr. Blake will receive compensation in line with other independent directors, expense reimbursements for duties, and coverage under the Company’s Directors and Officers Liability Insurance Policy.

Importantly, Mr. Blake has no familial relations with current Company directors or executives and holds no direct or indirect material interest in any transactions requiring disclosure under Item 404(a) of Regulation S-K. His selection as a director was not based on any pre-existing arrangements or understandings with other individuals.

In another development, Trio Petroleum’s Board approved the award of 250,000 shares of Restricted Stock each to independent directors John Randall, Thomas J. Pernice, and William J. Hunter. These shares are expected to vest within three months from the grant date. Additionally, the Chief Financial Officer, Greg Overholtzer, was granted 200,000 shares of Restricted Stock, set to vest within six months.

Following these appointments and grants, Trio Petroleum released a press statement on October 23, 2024, addressing Mr. Blake’s appointment. The Company shared details of the appointments as well as related agreements. Further information on these events, including the Offer Letter to Mr. Blake and the Press Release, can be accessed in the Company’s filing with the Securities and Exchange Commission.

Investors and stakeholders can refer to Trio Petroleum’s recent filings for comprehensive details on the recent developments. ENDOFTEXT

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Trio Petroleum’s 8K filing here.

About Trio Petroleum

We are an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California. The Company was incorporated on July 19, 2021, under the laws of Delaware to acquire, fund and develop oil exploration and production assets in California.