New Concept Energy (GBR) Proxy Filing summary

Executive summary

• Annual Meeting scheduled for December 4, 2024, to elect five directors and ratify the independent auditor appointment.

• Only stockholders of record as of October 28, 2024, are entitled to vote; 5,131,934 shares of Common Stock and 559 shares of Series B Preferred Stock are outstanding.

• Proxy materials and annual reports are available online and by request; voting can be done by mail or online.

Voting matters and shareholder proposals

• Proposals include election of five directors and ratification of Turner Stone & Company LLP as independent auditor.

• Directors are elected by plurality; auditor ratification requires a majority of shares represented.

• No cumulative voting; abstentions and broker non-votes do not affect director elections.

• Stockholder proposals for the 2025 meeting must be received by December 31, 2025.

Board of directors and corporate governance

• Board consists of five directors, with committees for Audit, Compensation, and Governance/Nominating.

• All committee members are independent per NYSE American standards; Audit Committee met four times, Compensation and Governance/Nominating Committees met twice in 2023.

• Presiding Director role established to lead executive sessions; Dan Locklear currently serves.

• Board reviews director independence annually; all current independent directors affirmed as such in 2023.

• Nonemployee directors receive annual retainers and meeting fees; total director fees paid in 2023 were $52,500.