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): May 6, 2010
Concho Resources Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
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001-33615
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76-0818600 |
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(Commission File Number)
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(I.R.S. Employer Identification No.) |
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550 West Texas Avenue, Suite 100 |
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Midland, Texas
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79701 |
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(Address of Principal Executive Offices)
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(Zip Code) |
Registrants telephone number, including area code: (432) 683-7443
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 (see General
Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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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 May 6, 2010, the compensation committee (the Committee) of the board of directors (the
Board) of Concho Resources Inc. (the Company) approved the purchase (the Purchase) by the
Company of the existing residence of Darin G. Holderness, the Companys Vice President Chief
Financial Officer and Treasurer. Because Mr. Holderness is relocating to Midland, Texas, the
Companys headquarters, in connection with his role as an officer of the Company, the Committee
believed that it was advisable and in the best interests of the Company to facilitate Mr.
Holderness relocation by effecting the Purchase.
To effectuate the Purchase, the Company has engaged a third-party relocation company, who will
execute the Purchase and subsequent resale of Mr. Holderness residence. The third-party
relocation company has appraised the fair market value of Mr. Holderness existing residence at
$920,000, and so the Company will effect the Purchase at that price.
As required by the Companys Related Person Transaction Policy, the Purchase was also approved by
the Audit Committee of the Board.