Magnum Hunter Resources Corporation says that the Board of Directors of the Company appointed Keith Yankowsky as Executive Vice President and Chief Operating Officer effective September 1, 2015. Mr. Yankowsky commenced employment with the Company on September 1, 2015 and reports directly to Gary C. Evans, Chairman and Chief Executive Officer of Magnum Hunter.
In connection with Mr. Yankowsky's commencement of employment, the Company granted Mr. Yankowsky two million shares of restricted common stock. Provided Mr. Yankowsky remains employed by the Company on the applicable vesting dates, the shares of restricted stock granted to him will vest in three equal installments on March 31, 2016, September 1, 2017 and September 1, 2018. To the extent Mr. Yankowsky does not remain employed by the Company, for any reason, the shares of restricted stock that have not vested as of the date of his termination of employment will be forfeited.