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16. SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS

 

Issuance of Common Stock

 

On October 7, 2015, the Company issued 214,286 shares of restricted common stock under the Company’s 2012 Equity Incentive Plan to each of Mr. David C. Crikelair, Ms. Elizabeth P. Smith, and Mr. David Z. Steinberg, the Company’s independent directors, as annual equity compensation grants made in accordance with the Company’s Board of Director’s Compensation Plan.  100% of the shares issued to Mr. Crikelair and Ms. Smith will become vested and non-forfeitable on September 10, 2016, and 100% of the shares issued to Mr. Steinberg will become vested and non-forfeitable on July 15, 2016, for so long as the holder remains a director, employee of, or consultant to the Company, with a stock price on the grant date of $0.28 per share, and a total grant date fair value of $180,000.

 

Amendment to the PEDEVCO CORP. 2012 Equity Incentive Plan

 

At the Annual Meeting of Stockholders held on October 7, 2015 (the “Annual Meeting”), the Company’s stockholders approved an amendment to the Company’s 2012 Equity Incentive Plan (the “Plan”) to increase by 3,000,000, the number of shares of common stock reserved for issuance under the Plan.