ROK Resources Restructures Long-Term Incentive Plan

ROK Resources Inc. announced a revised long-term incentive plan, introducing a restricted share unit plan (RSU Plan). This plan aims to align the interests of officers and directors with shareholders while integrating industry best practices to retain and attract talent. Key components include ownership requirements tied to salaries and cash-settled RSUs with specific vesting provisions for officers and directors.

As part of this restructuring, officers and directors will forfeit 11,910,000 options, significantly reducing the number of outstanding options. The company also continues with its normal course issuer bid to repurchase and cancel up to 10% of its public float.

Financially, ROK maintains a positive working capital balance and an unused $5.0 million credit facility. Recent activities include unwinding crude oil swap hedges, generating proceeds of $6.29 million, reinforcing its healthy financial position with no outstanding debt.