Vital Energy Management

Management criteria checks 2/4

Vital Energy's CEO is Mikell Pigott, appointed in Oct 2019, has a tenure of 4.75 years. total yearly compensation is $8.24M, comprised of 9.7% salary and 90.3% bonuses, including company stock and options. directly owns 0.48% of the company’s shares, worth €7.07M. The average tenure of the management team and the board of directors is 4.4 years and 4.2 years respectively.

Key information

Mikell Pigott

Chief executive officer

US$8.2m

Total compensation

CEO salary percentage	9.7%
CEO tenure	4.8yrs
CEO ownership	0.5%
Management average tenure	4.4yrs
Board average tenure	4.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mikell Pigott's remuneration changed compared to Vital Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$514m
Dec 31 2023	US$8m	US$795k	US$695m
Sep 30 2023	n/a	n/a	US$532m
Jun 30 2023	n/a	n/a	US$864m
Mar 31 2023	n/a	n/a	US$832m
Dec 31 2022	US$6m	US$764k	US$632m
Sep 30 2022	n/a	n/a	US$730m
Jun 30 2022	n/a	n/a	US$529m
Mar 31 2022	n/a	n/a	US$134m
Dec 31 2021	US$6m	US$720k	US$145m
Sep 30 2021	n/a	n/a	-US$237m
Jun 30 2021	n/a	n/a	-US$611m
Mar 31 2021	n/a	n/a	-US$1b
Dec 31 2020	US$3m	US$720k	-US$874m
Sep 30 2020	n/a	n/a	-US$950m
Jun 30 2020	n/a	n/a	-US$977m
Mar 31 2020	n/a	n/a	-US$258m
Dec 31 2019	US$7m	US$413k	-US$342m

Compensation vs Market: Mikell's total compensation ($USD8.24M) is above average for companies of similar size in the German market ($USD1.54M).

Compensation vs Earnings: Mikell's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Mikell Pigott (50 yo)

4.8yrs

Tenure

US$8,236,601

Compensation

Mr. Mikell Jason Pigott has been Director of Vital Energy, Inc. (formerly known as Laredo Petroleum, Inc.) since September 2019 and has been its President and Chief Executive Officer since October 1, 2019....

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Mikell Pigott	President	4.8yrs	US$8.24m	0.48% $ 7.1m
Bryan Lemmerman	Executive VP & CFO	4.1yrs	US$3.79m	0.25% $ 3.7m
Katie Hill	Senior VP & COO	1.8yrs	US$1.51m	0.090% $ 1.3m
Mark Denny	Executive VP	5.9yrs	US$2.25m	0.096% $ 1.4m
Stephen Faulkner	VP & Chief Accounting Officer	less than a year	no data	0.013% $ 192.7k
Brandon Brown	VP & CTO	2.7yrs	no data	no data
Ronald Hagood	Vice President of Investor Relations	6.7yrs	no data	no data
Benjamin Klein	Vice President of Midstream & Marketing	6.8yrs	no data	no data
Amelia Harding	Vice President of Human Resources	4.9yrs	no data	no data
David Ferris	VP & Chief Sustainability Officer	3.5yrs	no data	no data
Kyle Coldiron	Vice President of Subsurface & Business Development	no data	no data	no data

4.4yrs

Average Tenure

49.5yo

Average Age

Experienced Management: 8LP1's management team is considered experienced (4.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Mikell Pigott	President	4.8yrs	US$8.24m	0.48% $ 7.1m
Frances R. Hawes	Independent Director	5.6yrs	US$249.99k	0.043% $ 628.6k
Edmund Segner	Lead Independent Director	12.9yrs	US$229.99k	0.061% $ 899.0k
Jarvis Hollingsworth	Independent Director	3.7yrs	US$249.99k	0.018% $ 268.6k
William Albrecht	Independent Non-Executive Chairman	4.4yrs	US$330.66k	0.055% $ 817.9k
Craig Jarchow	Independent Director	4.6yrs	US$249.99k	0.041% $ 608.0k
Shihab Kuran	Independent Director	2.1yrs	US$229.99k	0.0076% $ 112.1k
Lisa Lambert	Independent Director	3.9yrs	US$229.99k	0.031% $ 452.0k
Lori Lancaster	Independent Director	3.7yrs	US$249.99k	0.025% $ 365.9k
John Driver	Independent Director	2.1yrs	US$229.99k	0.013% $ 188.2k

4.2yrs

Average Tenure

60.5yo

Average Age

Experienced Board: 8LP1's board of directors are considered experienced (4.2 years average tenure).

Vital Energy Management

Management criteria checks 2/4

Key information

Recent management updates

Vital Energy, Inc. Announces Management Changes

Vital Energy, Inc. Promotes Katie Hill to Senior Vice President and Chief Operating Officer

Senior VP recently sold €286k worth of stock

President recently sold €190k worth of stock

High number of new directors

Laredo Petroleum, Inc. Announces the Departure of T. Karen Chandler, Senior Vice President and Chief Operating Officer

Recent updates

Vital Energy, Inc.(NYSE:VTLE) dropped from Russell 3000E Value Index

Vital Energy, Inc. Provides Production Guidance for the Second Quarter and Reiterates Production Guidance for the Full Year of Fiscal Year 2024

Vital Energy, Inc. to Report Q1, 2024 Results on May 08, 2024

Vital Energy, Inc. Announces Management Changes

Vital Energy, Inc. announced delayed annual 10-K filing

Now 21% overvalued after recent price rise

Vital Energy, Inc. Provides Production Guidance for the First-Quarter and Full Year of 2024

Full year 2023 earnings released: EPS: US$34.30 (vs US$37.88 in FY 2022)

Now 22% overvalued after recent price rise

Now 21% overvalued

Vital Energy, Inc. to Report Q4, 2023 Results on Feb 21, 2024

Vital Energy, Inc. Promotes Katie Hill to Senior Vice President and Chief Operating Officer

Investor sentiment deteriorates as stock falls 16%

New major risk - Revenue and earnings growth

New major risk - Shareholder dilution

Vital Energy, Inc. Provides Production Guidance for the Fourth Quarter and Revises Production Guidance for the Full Year of 2023

Third quarter 2023 earnings released: EPS: US$0.27 (vs US$20.27 in 3Q 2022)

Vital Energy, Inc. to Report Q3, 2023 Results on Nov 02, 2023

New minor risk - Share price stability

Senior VP recently sold €286k worth of stock

Vital Energy, Inc. has completed a Follow-on Equity Offering in the amount of $148.5 million.

Vital Energy, Inc. (NYSE:VTLE) entered into an agreement to acquire Oil and Gas properties in the Midland and Delaware Basin from Henry Resources LLC, Henry Energy LP and Moriah Henry Partners LLC for $520 million.

Vital Energy, Inc. (NYSE:VTLE) entered into a purchase and sale agreement to acquire Oil and gas properties in Delaware Basin, including 21,450 net acres in Reeves County from Tall City Operations III LLC and Tall City Exploration III LLC for approximately $440 million.

Second quarter 2023 earnings released: EPS: US$16.35 (vs US$15.60 in 2Q 2022)

Vital Energy, Inc. Provides Production Guidance for 2023

Vital Energy, Inc. to Report Q2, 2023 Results on Aug 08, 2023

First quarter 2023 earnings released: EPS: US$6.93 (vs US$5.18 loss in 1Q 2022)

Full year 2022 earnings released: EPS: US$37.88 (vs US$10.18 in FY 2021)

Vital Energy, Inc. (NYSE: VTLE) entered into an agreement to acquire Oil and Gas Properties Located in Midland Basin from Driftwood Energy Operating, LLC for $210 million.

President recently sold €190k worth of stock

Vital Energy Inc. Provides Production Guidance for the Fourth Quarter of 2022

Now 21% undervalued after recent price drop

High number of new directors

Third quarter 2022 earnings released: EPS: US$20.27 (vs US$8.68 in 3Q 2021)

Laredo Petroleum, Inc. Provides Production Guidance for the Fourth Quarter of 2022

Laredo Petroleum, Inc. to Report Q3, 2022 Results on Nov 03, 2022

Investor sentiment improved over the past week

Laredo Petroleum, Inc. Announces the Departure of T. Karen Chandler, Senior Vice President and Chief Operating Officer

Interim Principal Accounting Officer recently sold €73k worth of stock

Northern Oil and Gas, Inc. (NYSE:NOG) entered into a purchase and sale agreement to acquire Howard County Non-Operated Properties of Laredo Petroleum, Inc. (NYSE:LPI) for approximately $110 million.

Investor sentiment deteriorated over the past week

Second quarter 2022 earnings released: EPS: US$15.60 (vs US$10.47 loss in 2Q 2021)

Laredo Petroleum, Inc. Provides Production Guidance for the Third Quarter, Fourth Quarter and Fiscal Year 2022

Investor sentiment improved over the past week

Laredo Petroleum, Inc. to Report Q2, 2022 Results on Aug 03, 2022

Investor sentiment deteriorated over the past week

Laredo Petroleum, Inc. Announces Appointment of John Driver and Shihab Kuran to its Board of Directors

Laredo Petroleum, Inc.(NYSE:LPI) dropped from Russell Microcap Value Index

Investor sentiment deteriorated over the past week

Laredo Petroleum, Inc. (NYSE:LPI) announces an Equity Buyback for $200 million worth of its shares.

Investor sentiment improved over the past week

Laredo Petroleum, Inc. Announces Retirement of Pamela S. Pierce from the Board

First quarter 2022 earnings released: US$5.18 loss per share (vs US$6.33 loss in 1Q 2021)

Laredo Petroleum, Inc. Provides Production Guidance for Second Quarter and Full-Year 2022

High number of new directors

Laredo Petroleum, Inc., Annual General Meeting, May 26, 2022

Laredo Petroleum, Inc. to Report Q1, 2022 Results on May 04, 2022

Investor sentiment improved over the past week

Now 32% undervalued

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Laredo Petroleum, Inc. Provides Production Guidance for the Full Year 2022

President recently sold €840k worth of stock

Third quarter 2021 earnings released: EPS US$8.68 (vs US$20.32 loss in 3Q 2020)

Senior VP & COO recently sold €620k worth of stock

Second quarter 2021 earnings released: US$10.47 loss per share (vs US$46.75 loss in 2Q 2020)

Laredo Petroleum, Inc. has completed a Follow-on Equity Offering in the amount of $75 million.

Laredo Petroleum, Inc. (NYSE:LPI) completed the acquisition of Assets of Shad Permian, LLC.

Independent Director has left the company