Baytex Energy Management

Management criteria checks 2/4

Baytex Energy's CEO is Eric Greager, appointed in Nov 2022, has a tenure of 1.5 years. total yearly compensation is CA$3.55M, comprised of 16.2% salary and 83.8% bonuses, including company stock and options. directly owns 0.14% of the company’s shares, worth €3.76M. The average tenure of the management team and the board of directors is 1.5 years and 3.8 years respectively.

Key information

Eric Greager

Chief executive officer

CA$3.5m

Total compensation

CEO salary percentage	16.2%
CEO tenure	1.5yrs
CEO ownership	0.1%
Management average tenure	1.5yrs
Board average tenure	3.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Eric Greager's remuneration changed compared to Baytex Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	CA$4m	CA$575k	-CA$233m
Sep 30 2023	n/a	n/a	CA$745m
Jun 30 2023	n/a	n/a	CA$883m
Mar 31 2023	n/a	n/a	CA$850m
Dec 31 2022	CA$3m	CA$90k	CA$856m

Compensation vs Market: Eric's total compensation ($USD2.59M) is about average for companies of similar size in the German market ($USD2.58M).

Compensation vs Earnings: Eric's compensation has increased whilst the company is unprofitable.

CEO

Eric Greager (53 yo)

1.5yrs

Tenure

CA$3,548,328

Compensation

Mr. Eric Thomas Greager served as an Independent Director of Amplify Energy Corp. since April 2022. He serves as President, CEO & Director at Baytex Energy Corp. since November 4, 2022. He served as Presid...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Eric Greager	President	1.5yrs	CA$3.55m	0.14% CA$ 3.8m
Chad Kalmakoff	Executive VP & CFO	1.5yrs	CA$1.58m	0.041% CA$ 1.1m
Chad Lundberg	Chief Operating Officer	2.8yrs	CA$1.75m	0.063% CA$ 1.7m
Brian Ector	Senior VP of Capital Markets & Investor Relations	10.2yrs	CA$1.12m	0.044% CA$ 1.2m
Kendall Arthur	Senior VP & GM of Canadian Heavy Oil Operations	less than a year	CA$401.46	0.062% CA$ 1.7m
James Maclean	Chief Legal Officer & Corporate Secretary	5.8yrs	CA$787.79k	0.0098% CA$ 266.2k
Julia Gwaltney	Senior VP & GM of U.S. Eagle Ford Oil Operations	less than a year	no data	0.065% CA$ 1.8m
Chris Lessoway	VP of Finance & Treasurer	less than a year	no data	0.0027% CA$ 73.7k

1.5yrs

Average Tenure

44.5yo

Average Age

Experienced Management: B5X's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Eric Greager	President	1.5yrs	CA$3.55m	0.14% CA$ 3.8m
Donald Hrap	Independent Director	4.2yrs	CA$206.00k	0.010% CA$ 278.4k
Trudy Curran	Independent Director	7.8yrs	CA$205.00k	0.020% CA$ 541.8k
David Pearce	Independent Director	5.8yrs	CA$190.00k	0.032% CA$ 860.8k
Jeffrey Wojahn	Independent Director	less than a year	CA$165.00k	0.019% CA$ 516.1k
Stephen David Reynish	Independent Director	3.5yrs	CA$200.00k	0.0095% CA$ 256.1k
Angela Lekatsas	Independent Director	1.3yrs	CA$184.80k	0.0058% CA$ 158.3k
Tiffany Thom Cepak	Independent Director	less than a year	CA$166.50k	0.011% CA$ 285.1k
Jennifer Maki	Independent Director	4.7yrs	CA$211.00k	0.021% CA$ 571.1k
Mark Bly	Independent Chairman of the Board	6.5yrs	CA$309.13k	0.066% CA$ 1.8m

3.8yrs

Average Tenure

60.5yo

Average Age

Experienced Board: B5X's board of directors are considered experienced (3.8 years average tenure).

Baytex Energy Management

Management criteria checks 2/4

Key information

Recent management updates

High number of new directors

Baytex Energy Corp. Announces Board Changes

President recently bought €930k worth of stock

Baytex Energy Corp. Announces Board Changes

President recently bought €95k worth of stock

Baytex Energy Corp. Announces Executive Changes

Recent updates

New major risk - Revenue and earnings growth

Upcoming dividend of CA$0.022 per share

Baytex Energy Corp. Provides Production Guidance for the Year 2024

Full year 2023 earnings released: CA$0.33 loss per share (vs CA$1.53 profit in FY 2022)

Baytex Energy Corp. to Report Q1, 2024 Results on May 09, 2024

Investor sentiment deteriorates as stock falls 8.2%

New major risk - Revenue and earnings growth

Baytex Energy Corp. Provides Production Guidance for 2024

Upcoming dividend of CA$0.022 per share at 2.1% yield

An unknown buyer entered into an agreement to acquire Certain of Viking Assets Located at Forgan and Plato in Southwest Saskatchewan from Baytex Energy Corp. (TSX:BTE) for CAD 150 million

An unknown buyer entered into an agreement to acquire Certain of Viking Assets Located at Forgan and Plato in Southwest Saskatchewan from Baytex Energy Corp. (TSX:BTE) for CAD 150 million

Investor sentiment deteriorates as stock falls 17%

Baytex Energy Corp. Provides Production Guidance for the Fourth Quarter and Full Year 2023

New major risk - Earnings quality

Third quarter 2023 earnings released: EPS: CA$0.15 (vs CA$0.48 in 3Q 2022)

Investor sentiment deteriorates as stock falls 17%

New minor risk - Share price stability

Upcoming dividend of CA$0.022 per share at 1.6% yield

High number of new directors

Baytex Energy Corp. Declares Quarterly Cash Dividend, Payable on October 2, 2023

Baytex Energy Corp. Announces Board Changes

Baytex Energy Corp. (TSX:BTE) completed the acquisition of Ranger Oil Corporation (NasdaqGS:ROCC) from a group of shareholders.

Baytex Energy Corp. Restarts Production Following Alberta Wildfires

First quarter 2023 earnings released: EPS: CA$0.094 (vs CA$0.10 in 1Q 2022)

Baytex Energy Corp. Provides Production Guidance for the Full Year 2023

Investor sentiment improves as stock rises 20%

President recently bought €930k worth of stock

Full year 2022 earnings released: EPS: CA$1.53 (vs CA$2.86 in FY 2021)

Baytex Energy Corp. Announces Board Changes

Baytex Energy Corp. to Report Q2, 2023 Results on Jul 27, 2023

President recently bought €95k worth of stock

Baytex Energy Corp. Provides Production Guidance for the Year 2023

Baytex Energy Corp. Announces Executive Changes

Independent Director recently sold €555k worth of stock

Baytex Energy Corp. Revises Production Guidance for the Year 2022

Third quarter 2022 earnings released: EPS: CA$0.48 (vs CA$0.058 in 3Q 2021)

Baytex Energy Corp. Announces Executive Changes

Investor sentiment deteriorated over the past week

Second quarter 2022 earnings released: EPS: CA$0.32 (vs CA$1.87 in 2Q 2021)

Baytex Energy Corp. Provides Production Guidance for the Full Year 2022

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

Executive VP & CFO recently bought €83k worth of stock

Investor sentiment improved over the past week

First quarter 2022 earnings released: EPS: CA$0.10 (vs CA$0.063 loss in 1Q 2021)

Investor sentiment improved over the past week

Insider recently sold €236k worth of stock

Full year 2021 earnings: Revenues exceed analyst expectations

Baytex Energy Corp. Provides Production Guidance for the Full Year 2022

Third quarter 2021 earnings released: EPS CA$0.058 (vs CA$0.042 loss in 3Q 2020)

Second quarter 2021 earnings released: EPS CA$1.87 (vs CA$0.25 loss in 2Q 2020)

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Independent Director has left the company

First quarter 2021 earnings released: CA$0.063 loss per share (vs CA$4.46 loss in 1Q 2020)

Baytex Energy Corp. Provides Production Guidance for the Year 2021

Full year 2020 earnings released: CA$4.35 loss per share (vs CA$0.022 loss in FY 2019)

New 90-day high: €0.60

New 90-day high: €0.56

New 90-day high: €0.53

Baytex Energy Corp. to Report Q2, 2021 Results on Jul 28, 2021

New 90-day high: €0.44

Third quarter 2020 earnings released: CA$0.042 loss per share

Baytex Energy Corp. Announces Appointment of Steve Reynish as Director

Baytex Energy Corp. to Report Q3, 2020 Results on Nov 02, 2020

New 90-day low - €0.28

CEO Compensation Analysis