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EX-10.1 - EXHIBIT 10.1 - ARKANOVA ENERGY CORP.exhibit10-1.htm
EX-99.1 - EXHIBIT 99.1 - ARKANOVA ENERGY CORP.exhibit99-1.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 15, 2013

ARKANOVA ENERGY CORPORATION
(Exact name of registrant as specified in its charter)

Nevada
000-51612
68-0542002
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)

305 Camp Craft Road, Suite 525 Austin, TX 78746
(Address of principal executive offices and Zip Code)

(512) 222-0975
(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report) N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))


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Item 1.01 Entry into a Material Definitive Agreement.

The information required by this item is included under Item 5.02 of this Current Report on Form 8-K and is incorporated by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 15, 2013, we re-priced 3,425,000 stock options granted to directors, officers, employees and consultants to $0.10 and extended the expiry dates of the stock options as noted below:



Name


Position


Date of Grant

No. of
Options
Original
Exercise
Price

Original
Expiry Date

New Expiry
Date
Reginald Denny Director & Officer November 19, 2008 100,000 $0.12 November 19, 2013 September 30, 2018
Reginald Denny Director & Officer October 14, 2009 350,000 $0.20 October 14, 2014 December 31, 2018
Burdette Taylor Employee October 14, 2009 100,000 $0.20 October 14, 2014 December 31, 2018
Marc Vinson Employee October 14, 2009 150,000 $0.20 October 14, 2014 December 31, 2018
Pierre Mulacek Director & Officer October 14, 2009 600,000 $0.20 October 14, 2014 December 31, 2018
Erich Hofer Director & Officer October 14, 2009 300,000 $0.20 October 14, 2014 December 31, 2018
Tommy Overstreet Employee August 1, 2010 100,000 $0.24 August 1, 2015 December 31, 2018
Pierre Mulacek Director & Officer October 8, 2010 650,000 $0.25 October 8, 2015 December 31, 2018
Reginald Denny Director & Officer October 8, 2010 550,000 $0.25 October 8, 2015 December 31, 2018
Erich Hofer Director & Officer October 8, 2010 300,000 $0.25 October 8, 2015 December 31, 2018
Burdette Taylor Employee October 8, 2010 150,000 $0.25 October 8, 2015 December 31, 2018
Marc Vinson Employee October 8, 2010 75,000 $0.25 October 8, 2015 December 31, 2018

The option agreements previously signed will remain in full force and effect and will be amended solely to amend the exercise price and the expiry date.

Pierre Mulacek, Reginald Denny and Erich Hofer each abstained from approving the amendments with respect to their own respective options.


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Item 9.01.        Financial Statements and Exhibits

10.1

form of amendment to the stock option agreement

   
99.1

2008 Amended and Restated Stock Option Plan

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ARKANOVA ENERGY CORPORATION

 

/s/ Reginald Denny
Reginald Denny
CFO and Director
Date: November 19, 2013