He and they must believe those stock options are worth something.
Imagine that.
As to his replacement -
On June 7, 2018, Mr. Ralph DeVore, age 80, provided notice to Zion Oil & Gas, Inc. (“Zion” or “Company”) of his resignation from the Board of Directors (“Board”) for health and other reasons. His resignation became effective June 7, 2018.
The Company has appointed Virginia Prodan to its Board as an independent director, effective July 1, 2018. Ms. Prodan is being appointed to the Nominating and Corporate Governance Committee and will be a Class III Director to complete Ralph DeVore’s term.
Ms. Prodan is an international human rights attorney and an Allied Attorney with the Alliance Defending Freedom. She is president and founder of Virginia Prodan Ministries. Ms. Prodan earned a Juris Doctor Degree at the Bucharest Law School, Romania, and was licensed in 1977. She was exiled from Ceausescu’s Romania in 1988 for defending human rights cases, which concerned Ceausescu’s persecution of Christians in Communist Romania. She earned a Master of Laws, LL.M. International, in 1995 and earned a Juris Doctor in 1997 from Southern Methodist University. She is licensed in Texas and Colorado and in the United States District Court for the Northern District of Texas. She was an intern for the Institute for Justice in Washington, D.C. and was an intern for U.S. Judge Sidney Fitzwater of the Northern District of Texas. She is on the Adjunct Faculty at El Centro College Paralegal Program.
Ms. Prodan is on the advisory board of Stand with Persecuted Churches, the 21st Century Wilberforce Ministry and 4word women.org and on the board of directors of the State Republican Executive Committee – Senate District 16.
There are no arrangements or understandings between Ms. Prodan and any other person pursuant to which she was appointed to the Board, and there are no relationships between Ms. Prodan and the Company that would require disclosure under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
For her services on the Board, Ms. Prodan will be compensated as an independent director. Ms. Prodan will be a Class III director up for reelection at the 2020 annual stockholders meeting.
She looks like she was selected because of her background, education, and positioning.
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