Summary by Moomoo AI
On January 29, 2024, HNR Acquisition Corp, an independent oil and gas company, announced the appointment of Mark H. Williams as Corporate Controller and Vice President of Finance and Administration. Williams, with over 30 years of experience in financial roles, has been consulting for HNR Acquisition Corp since September 2023 and has played a significant role in the company's initial acquisition and transition of finance and operations. The company's CFO, Mitchell B. Trotter, will retain his role as the principal financial officer but will relinquish his duties as the principal accounting officer. Williams' employment agreement includes an annual base salary of $175,000 and a one-time Equity Sign-On Incentive of 35,000 restricted stock units under the company's Omnibus Incentive Plan, with a vesting schedule over three years. Additionally, Williams is entitled to severance benefits under certain conditions, which include a continuation of his base salary for 12 months and full vesting in all equity grants upon termination. The company issued a press release on February 1, 2024, to publicly announce Williams' appointment.