NOTE 11 – SUBSEQUENT EVENTS

In July 2026, the Company announced a chief financial officer succession plan pursuant to which Stanley E. Speer will retire as the Company’s Chief Financial Officer effective as of September 1, 2026. Jacinto J. Hernandez was appointed as the Company’s Executive Vice President of Finance and will become the Company’s Chief Financial Officer upon Mr. Speer’s retirement.

In conjunction with the succession plan, Mr. Hernandez was granted one-time inducement awards outside of the Company’s 2019 Equity Incentive Plan (the “Plan”) consisting of (i) 800,000 restricted stock units (“RSUs”), of which 200,000 RSUs will be vested upon grant, and the remaining 600,000 RSUs in twelve approximately equal quarterly installments over three years, and (ii) 800,000 performance stock units (“PSUs”) which will vest upon achievement of specified stock price hurdles.

In connection with his retirement, Mr. Speer entered into a Separation Agreement which provides for, among other things, accelerated vesting of unvested service-based RSUs representing 68,700 shares, a new grant of fully vested RSUs under the Plan representing 100,000 shares in lieu of Mr. Speer’s forfeited 2026 bonus opportunity, and continued eligibility for vesting of milestone-based RSUs representing 85,000 shares tied to the closing of the LLC project financing for the Northern Pipeline.  Additionally, Mr. Speer will forfeit unvested milestone-based RSUs representing 150,000 shares.