This is a role transition, not a clean departure. Singleton’s employment ended effective September 9, 2026, but Matador immediately retained him as a special advisor to the Board and Executive Committee. (Advisor Agreement, §1)
The company is preserving access to his deal and asset knowledge. His assignment includes business development and potential transactions involving exploration, development and San Mateo’s midstream operations, with a $450,000 annual retainer beginning September 21. 〔0〕 (Advisor Agreement, §§4,6-7)
| Item | Filing detail |
|---|---|
| Employment termination | September 9, 2026 (Advisor Agreement, §1) |
| Advisory retainer | $450,000 per year / $37,500 per month (Advisor Agreement, §7) |
| Potential discretionary bonus | Anticipated minimum of $50,000 if awarded (Advisor Agreement, §7) |
| Equity awards | Continue vesting during the advisory term (Advisor Agreement, §7) |
| Non-compete period | 12 months after termination (Advisor Agreement, §10) |
| Non-solicitation period | 24 months after termination (Advisor Agreement, §9) |
The trade-off is less executive control with meaningful continuity. The agreement makes Singleton an independent contractor rather than an employee, removes employee benefits, and lets Matador terminate the advisory arrangement without notice; however, his outstanding equity continues to vest while he performs the services. 〔1〕 (Advisor Agreement, §13)
The net read is mixed because the filing gives no reason or successor. The company avoids an abrupt loss of institutional and transaction knowledge, but the end of the employment relationship creates uncertainty around who now owns his former responsibilities. With no earnings, guidance or operating targets disclosed, there is no clean beat-or-miss benchmark; this is best read as a material executive transition with continuity provisions rather than a fundamental strategic change.
Read the original 8-K on SEC EDGAR ↗