8-K 1 c92866e8vk.htm FORM 8-K Form 8-K
 
 

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 11, 2009

Brigham Exploration Company
(Exact name of registrant as specified in its charter)
         
Delaware   001-34224   75-2692967
(State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)
     
6300 Bridgepoint Parkway
Building Two, Suite 500
Austin, Texas
  78730
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (512) 427-3300
 
 
(Former name or former address if changed since last report.)

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o 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. Compensatory Arrangements of Certain Officers.
Effective April 1, 2009, the executive officers of the company volunteered to reduce their base salaries by 25%. Effective November 1, 2009, the company increased the base salaries of the executive officers as reflected below. The amounts reflected below under “Annualized Salary Effective November 1, 2009” reflect the base salaries paid to the executive officers prior to April 1, 2009.
                     
                Annualized Salary
Name   Principal Position   Prior Annualized Salary   Effective November 1, 2009
Ben M. Brigham
  Chief Executive Officer, President and Chairman of the Board   $ 306,743     $ 408,991  
Eugene B. Shepherd, Jr.
  Executive Vice President and Chief Financial Officer   $ 215,770     $ 287,693  
David T. Brigham
  Executive Vice President — Land and Administration and Director   $ 182,652     $ 243,536  
Jeffrey E. Larson
  Executive Vice President — Exploration   $ 171,212     $ 228,283  
A. Lance Langford
  Executive Vice President — Operations   $ 176,415     $ 235,220  
On November 11, 2009, the Compensation Committee of the Board of Directors granted shares of restricted stock to our named executive officers. The shares of restricted stock will vest on December 31, 2009. The following table details the number of shares and their value.
                     
        Restricted Stock Granted    
Name   Principal Position   (# of Shares)   Dollar Value (a)
Ben M. Brigham
  Chief Executive Officer, President and Chairman of the Board     27,700     $ 306,085  
Eugene B. Shepherd, Jr.
  Executive Vice President and Chief Financial Officer     19,700     $ 217,685  
David T. Brigham
  Executive Vice President — Land and Administration and Director     16,700     $ 184,535  
Jeffrey E. Larson
  Executive Vice President — Exploration     15,400     $ 170,170  
A. Lance Langford
  Executive Vice President —Operations     16,000     $ 176,800  
     
(a)  
Based on the closing market price of $11.05 on November 11, 2009.

 

 


 

SIGNATURE
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 thereunto duly authorized.
         
  BRIGHAM EXPLORATION COMPANY
 
 
Date: November 18, 2009  By:   /s/ Eugene B. Shepherd, Jr.    
    Eugene B. Shepherd, Jr.   
    Executive Vice President & Chief Financial Officer