Gulfport Adopts Tax Benefits Preservation Plan to Protect NOL Tax Assets
Gulfport Energy Corporation Common Shares (GPOR)
Last gulfport energy corporation common shares earnings: 2/27 04:00 pm
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ir.gulfportenergy.com
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Source: GlobeNewswire
OKLAHOMA CITY, April 30, 2020 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport”), today announced that its Board of Directors (the “Board”) has unanimously adopted a tax benefits preservation plan (the “Tax Benefits Preservation Plan”) to protect the ability of Gulfport to use its tax net operating losses (“NOLs”) under Section 382 of the Internal Revenue Code (the “Code”) to reduce its future tax liabilities. As of December 31, 2019, Gulfport had approximately $1.3 billion of federal NOLs available to offset its future taxable income. Gulfport’s ability to use these NOLs would be substantially limited if Gulfport experienced an “ownership change” within the meaning of Section 382 of the Code. Generally, an “ownership change” occurs if the percentage of the Company’s stock owned by one or more of its “five-percent shareholders” (as such term is defined in Section 382 of the Code) increases by more than 50 percentage points over a three-year period. In ligh
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GPOR
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- 11/21/24 - Form 144/A
- GPOR's page on the SEC website