Gran Tierra Energy Announces Final Voting Results of its Annual Meeting of Stockholders

Rhea-AI Summary

Gran Tierra Energy Inc. held its annual meeting on May 4, 2022, where stockholders voted in favor of all nominated directors. Key approvals included KPMG LLP as independent auditor for 2022 and the advisory vote on executive compensation for the upcoming year. The equity incentive plan was also approved. Notably, 96% of votes supported KPMG's appointment, while 88.9% backed the executive compensation plan. The company continues its focus on oil and gas exploration in Colombia and Ecuador.

Positive

• All nine nominated directors were elected, showcasing strong shareholder support.
• 96% approval for KPMG LLP as the independent auditor indicates trust in financial oversight.
• 88.9% of shareholders supported executive compensation, suggesting alignment with management.

Negative

• Only 67.3% approved the 2007 Equity Incentive Plan, indicating some shareholder dissent.

CALGARY, Alberta, May 05, 2022 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the voting results from the Company’s annual meeting of stockholders held on May 4, 2022.

Final Voting Results of Gran Tierra’s Annual Meeting of Stockholders: Stockholders elected all nine individuals nominated by Gran Tierra. In addition, stockholders voted “FOR” the ratification of the appointment of KPMG LLP as Gran Tierra’s independent registered public accounting firm for the fiscal year ending December 31, 2022, “FOR” the approval, on an advisory basis, of the compensation of Gran Tierra’s named executive officers, "EVERY YEAR" as the preferred frequency of solicitation of stockholder advisory votes on the compensation of Gran Tierra's Named Executive Officers, and “FOR” the approval of the 2007 Equity Incentive Plan, as amended. The detailed results of the vote are as follows:

Proposal 1
Election of Directors	For	%	Against		Abstain	Non-Votes
Gary S. Guidry	103,665,849	97.5	2,705,019		335,573	70,556,916
Peter Dey	87,911,653	84.0	16,790,829		2,003,958	70,556,916
Evan Hazell	101,024,231	96.5	3,687,499		1,994,709	70,556,916
Robert B. Hodgins	99,364,937	95.0	5,271,675		2,069,828	70,556,916
Alison Redford	102,220,046	97.8	2,277,191		2,209,202	70,556,916
Ronald Royal	102,253,165	97.8	2,332,143		2,121,131	70,556,916
Sondra Scott	99,637,172	95.2	4,984,846		2,084,421	70,556,916
David P. Smith	102,123,557	97.5	2,587,313		1,995,570	70,556,916
Brooke Wade	99,835,833	95.4	4,866,966		2,003,641	70,556,916
Proposal 2	For	%	Against		Abstain	Non-Votes
Ratification of Appointment of the Independent Registered Public Accounting Firm	170,088,249	96.0	6,495,233		679,874	0
Proposal 3	For	%	Against		Abstain	Non-Votes
Approval of Named Executive Officer Compensation	94,910,820	88.9	10,923,981		871,640	70,556,915
Proposal 4	Every Year	Every Two Years		Every Three Years	Abstain	Non-Votes
Approval of the Preferred	88,490,938	1,655,691		9,191,649	7,353,011	70,572,067
Frequency of Solicitation of Stockholders Advisory Votes on the Compensation of Gran Tierra’s Named Executive Officers
Proposal 5	For	%	Against		Abstain	Non-Votes
Approval of 2007 Equity Incentive Plan, as amended	71,854,873	67.3	33,685,877		1,165,690	70,556,916

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Information on the Company’s website (including the Sustainability Report) does not constitute a part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Gran Tierra’s Securities and Exchange Commission filings are available on the SEC website at http://www.sec.gov. The Company's Canadian securities regulatory filings are available on SEDAR at http://www.sedar.com and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Contact Information

For investor and media inquiries please contact:

Gary Guidry, Chief Executive Officer

Ryan Ellson, Executive Vice President & Chief Financial Officer

Rodger Trimble, Vice President, Investor Relations

+1-403-265-3221

info@grantierra.com

 

FAQ

What were the results of Gran Tierra Energy's annual meeting on May 4, 2022?

Gran Tierra Energy's annual meeting resulted in the election of all nine nominated directors and approvals for KPMG as auditor and executive compensation.

What percentage of shareholders approved KPMG as Gran Tierra's independent auditor?

96% of shareholders approved KPMG LLP as Gran Tierra's independent auditor for the fiscal year ending December 31, 2022.

How did shareholders vote on the 2007 Equity Incentive Plan during Gran Tierra's annual meeting?

Only 67.3% of shareholders approved the 2007 Equity Incentive Plan at Gran Tierra's annual meeting.

What is the focus of Gran Tierra Energy's operations?

Gran Tierra Energy focuses on oil and natural gas exploration and production primarily in Colombia and Ecuador.