Vivakor (NASDAQ: VIVK) Enters Material Definitive Agreements

Vivakor, Inc., a company focused on the energy sector, made significant strides following recent agreements as stated in its Form 8-K filing of February 10, 2025. The agreements aim to enhance management effectiveness and outline financial commitments vital for operational growth and organizational stability.

The company initiated a Consulting Agreement with WSGS, LLC on February 11, 2025. This agreement, valued at $1.3 million annually, allows for payments to be made via registered shares of Vivakor’s common stock under the 2023 Equity Incentive Plan. WSGS, LLC’s principal had past affiliations with relevant entities like Empire Diversified Energy, Inc. and E-Starts Money Co.

Moreover, Vivakor finalized a Side Letter on February 10, 2025, modifying the Executive Employment Agreement with Tyler Nelson, the Director, and Chief Financial Officer. The adjustments included clarifications on obligations, payment terms, and tax-related aspects for debts and fundraising by subsidiaries. Additionally, an Employment Agreement with Andre Johnson was confirmed, where he would serve as Vice President, Human Resources, receiving salary increments and equity compensations under the 2023 Equity Incentive Plan.

Further, Vivakor addressed unregistered sales of equity securities, indicating a series of transactions related to the acquisition of the Endeavor Entities. This included the issuance of common stock and Series A Preferred Stock to sellers in exchange for specific amounts. Notably, shares issued were under exemption provisions as detailed in the Securities Act.

Additionally, a Certificate of Designation for the Series A Preferred Stock was filed by Vivakor on February 11, 2025, specifying the rights and preferences associated with this stock offering. The company adjusted its organizational structure in compliance with regulatory procedures, reflecting key changes in its financial structure.

Lastly, Vivakor disclosed several key events, including share issuances to its Chairman, CEO, and CFO as part of employment-related obligations. Noteworthy was the issuance of shares as part of bonuses and employment agreements, highlighting the alignment of compensation with performance and operational milestones.

These strategic moves and financial adjustments, as reported in the filing, underline Vivakor’s commitment to enhancing operational efficiency, financial transparency, and strategic workforce planning. The company’s proactive measures aim to consolidate its position in the energy sector while fostering sustainable growth and shareholder value.

The full text of the exhibit filings can be accessed on the Securities and Exchange Commission’s website for detailed information on the agreements and transactions.

For more updates and developments, investors are encouraged to monitor Vivakor’s public communications and regulatory filings for a comprehensive understanding of the company’s ongoing initiatives and financial performance.

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

About Vivakor

Vivakor, Inc operates, acquires, and develops technologies and assets in the oil and gas industry and related environmental solutions in the United States and Kuwait. The company owns and operates a crude oil gathering, storage, and transportation facility in Delhi, Louisiana. It also owns a crude oil storage tank located near Colorado City, Texas.