Jones Energy, Inc. Forgoes Convertible Preferred Stock Dividend and Grants an Inducement Award to New CEO

Aug 14, 2018

AUSTIN, Texas, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Jones Energy, Inc. (NYSE: JONE) (“Jones Energy” or “the Company”) is announcing that it will forgo payment of its previously declared contingent dividend on its 8% Series A Perpetual Convertible Preferred Stock (the “Preferred Stock”). Also, per NYSE Rule 303A.08, Jones Energy is announcing the grant of a Restricted Stock Unit (“RSU”) award to Carl F. Giesler, Jr., the Company’s new Chief Executive Officer, as an inducement to his employment with the Company. Jones Energy modified the original award to facilitate broader structural adjustments to its compensation program.

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