Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On July 15, 2026, Mr. Paul Pinkston and PEDEVCO Corp., a Texas corporation (the "Company", "we" and "us") entered into a Separation Agreement and General Release Agreement (the "Separation Agreement"), in connection with Mr. Pinkston's June 23, 2026 termination of employment with the Company. Pursuant to the Separation Agreement, we each agreed that Mr. Pinkston mutually terminated his employment with the Company, we agreed to pay Mr. Pinkston $80,885 in cash as a severance payment, Mr. Pinkston agreed that all unvested stock, restricted stock units and performance-based restricted stock units held by Mr. Pinkston were forfeited pursuant to the terms of such awards upon his termination, Mr. Pinkston provided a release to the Company, subject to certain customary exceptions, and Mr. Pinkston agreed to certain standard confidentiality obligations. The Separation Agreement becomes effective on the 8^th day after the acceptance thereof by Mr. Pinkston, in the event he does not revoke such acceptance by such date.

The description of the Separation Agreement above is not complete and is qualified in its entirety by the full text of the Separation Agreement, which is filed herewith as Exhibit 10.1 and incorporated by reference into this Item 5.02 in its entirety.