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) February 25, 2015
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 25, 2015, we re-priced the exercise price of 4,650,000 stock options granted to directors, officers, employees and consultants from $0.10 to $0.05 as noted below:
| Name | Position | Date of Grant | Number of Options |
Previous
Exercise Price |
Expiry Date |
| Reginald Denny | Director & Officer | November 19, 2008 | 100,000 | $0.10 | September 30, 2018 |
| Reginald Denny | Director & Officer | October 14, 2009 | 350,000 | $0.10 | December 31, 2018 |
| Pierre Mulacek | Director & Officer | October 14, 2009 | 600,000 | $0.10 | December 31, 2018 |
| Erich Hofer | Director | October 14, 2009 | 300,000 | $0.10 | December 31, 2018 |
| Tommy Overstreet | Employee | August 1, 2010 | 100,000 | $0.10 | December 31, 2018 |
| Pierre Mulacek | Director & Officer | October 8, 2010 | 650,000 | $0.10 | December 31, 2018 |
| Reginald Denny | Director & Officer | October 8, 2010 | 550,000 | $0.10 | December 31, 2018 |
| Erich Hofer | Director | October 8, 2010 | 300,000 | $0.10 | December 31, 2018 |
| Pierre Mulacek | Director & Officer | March 1, 2014 | 300,000 | $0.10 | March 1, 2019 |
| Reginald Denny | Director & Officer | March 1, 2014 | 300,000 | $0.10 | March 1, 2019 |
| Erich Hofer | Director | March 1, 2014 | 300,000 | $0.10 | March 1, 2019 |
| Tommy Overstreet | Employee | March 1, 2014 | 300,000 | $0.10 | March 1, 2019 |
| Jay Waterman | Consultant | March 1, 2014 | 400,000 | $0.10 | March 1, 2019 |
| Daniel Murray | Employee | November 1, 2014 | 100,000 | $0.10 | November 1, 2019 |
| Total | 4,650,000 |
Pierre Mulacek, Reginald Denny and Erich Hofer each abstained from approving the price reduction with respect to their own respective options.
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: February 25, 2015