Bobby Long
PEDEVCOAbout Bobby Long
Robert “Bobby” J. Long (age 49) was appointed Chief Financial Officer and Treasurer of PEDEVCO effective October 31, 2025, initially serving as Principal Accounting and Principal Financial Officer until November 13, 2025, then re-appointed to those principal roles effective the business day following the Q3 2025 10‑Q filing . He has ~25 years in energy finance and investing and holds a BBA in Finance from the University of Texas at Austin . Company context at his start: Q3 2025 net loss was $325k with nine‑month revenues of $22.7M, and 95,519,352 common shares outstanding as of November 13, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Century Natural Resources, LLC | Chief Financial Officer | Feb 2022–Oct 2025 | Managed all accounting, finance and commercial functions of four oil & gas companies operating in the Powder River Basin . |
| Navigation Petroleum, LLC | Chief Financial Officer | Aug 2018–Jan 2022 | CFO overseeing finance for Powder River Basin assets . |
| CIBC Capital Markets (Houston) | Executive Director | Feb 2018–Aug 2018 | Energy finance investment banking role . |
| Rivington Holdings, LLC | Partner | Sep 2008–Jan 2018 | Capital advisory, specializing in oil & gas . |
| BNP Paribas, Global Energy Group (Houston) | Associate → Vice President | Jul 2000–Sep 2008 | Corporate finance within global energy banking . |
| JPMorgan Chase & Co., Energy Finance (Houston) | Analyst | Jul 1999–Jul 2000 | Early career in energy finance . |
External Roles
- No public-company board roles or committee positions disclosed in available filings; biographical disclosures list executive and finance roles only .
Fixed Compensation
| Element | Terms | Amount/Percent | Notes |
|---|---|---|---|
| Base salary | At‑will; payable per normal payroll; annual review | $280,000 per year | Offer letter dated Oct 30, 2025 . |
| Target annual bonus | Discretionary cash bonus | Up to 50% of base | Sole discretion of Company; pro‑rated for partial year . |
| One‑time bonus | Payable within 30 days of start | $1,750 | Subject to continued employment on payment date . |
| Equity eligibility | Board discretion | Not specified | May be considered for restricted stock or options . |
| Employment type | At‑will | — | May be terminated by either party any time, with/without cause . |
Performance Compensation
| Incentive Type | Metric(s) | Weighting/Target | Actual FY2025 | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual cash bonus | Discretionary; Company may consider performance objectives | Up to 50% of base salary | Not disclosed | Discretionary | Payable annually; pro‑rated for partial years; generally requires employment through fiscal year end . |
| Equity awards (RSUs/options) | Discretionary | N/A | Not disclosed for Long | N/A | Board may grant; no specific grants to Long disclosed as of Q3 2025 . |
Note: Company-wide 2025 grants and vesting schedules are described for officers and directors, but filings do not specifically disclose RSU/option grants to Long as of Q3 2025 .
Equity Ownership & Alignment
| Security | Amount | Ownership Form | Date | Conversion/Exercise Price | Notes |
|---|---|---|---|---|---|
| Common Stock | 0 shares | Direct (D) | Form 3 filed Nov 10, 2025 | — | Initial statement of beneficial ownership indicated zero common shares . |
| Series A Convertible Preferred Stock (underlying common) | 9,546 shares | Direct (D) | Form 3 filed Nov 10, 2025 | See Form 3 | Not convertible until the expiration of a required period; issued via October 2025 PIPE participation . |
| Estimated ownership % of common (post‑Q3) | ~0.01% | — | As of Nov 13, 2025 outstanding shares | — | 9,546 underlying / 95,519,352 shares outstanding ≈ 0.01%; shares outstanding per 10‑Q . |
Policies and trading arrangements:
- Equity ownership guidelines: None; company has no policy on equity ownership for executives/directors .
- Pledging: Allowed (no prohibitions beyond Code of Ethics and Insider Trading Policy) .
- Anti‑hedging/insider trading: Anti‑hedging provisions; trading windows and pre‑clearance; Rule 10b5‑1 plans encouraged .
- 10b5‑1 plans (Q3 2025): No directors or officers adopted/terminated Rule 10b5‑1 plans during the quarter .
- Clawback policy: Adopted Nov 8, 2023; mandatory recovery of erroneously awarded incentive compensation for covered officers; effective Oct 2, 2023 .
Employment Terms
| Term | Details |
|---|---|
| Start date / roles | Appointed CFO, Treasurer, and Principal Accounting/Financial Officer effective Oct 31, 2025; stepped down from principal roles on Nov 13, 2025; re‑appointed as Principal Accounting/Financial Officer effective following the 10‑Q filing . |
| At‑will employment | At‑will; terminable by either party at any time, with or without cause . |
| Confidentiality | Required to maintain confidentiality of proprietary information . |
| Severance (without cause, timing‑specific) | If terminated prior to Dec 31, 2025: six months base salary plus 100% of 2025 bonus; if terminated after Dec 31, 2025 and prior to payment of 2025 bonus: 100% of 2025 bonus plus targeted annual bonus for the subsequent year of termination; up to six months COBRA reimbursement if elected, subject to release . |
| Indemnification | Standard form indemnification agreement, identical in all material respects to other officer/director agreements; to fullest extent permitted under Texas law and Company governing documents . |
| Non‑compete / Non‑solicit | Not disclosed in Long’s offer letter; filings specify confidentiality and duty performance . |
Investment Implications
- Alignment: At appointment, Long held no common shares and a modest Series A preferred position convertible into 9,546 common shares (~0.01% of outstanding), signaling limited immediate equity alignment; the company does not maintain executive ownership guidelines and permits pledging, which can weaken long‑term alignment .
- Incentives: Cash compensation is meaningful with a discretionary bonus up to 50% of base; no defined, disclosed performance metrics for Long’s bonus reduces pay‑for‑performance transparency; clawback policy provides downside protection in the event of restatements .
- Severance/trading pressure: Near‑term severance includes full 2025 bonus and six months’ base if terminated before year‑end, limiting retention risk through year‑end 2025; no 10b5‑1 plan activity in Q3 2025 suggests limited pre‑planned trading, but pledging permissibility is a governance red flag to monitor .
- Execution risk: Long is a new CFO appointed concurrent with transformative mergers and financing activities, including an RBL draw and planned Schedule 14C actions, implying integration and reporting complexity in the near term .