Chesapeake (CHK) Accelerated The Vesting of Restricted Stock For Senior Executives; COO Steven Dixon Enters Into A 10b5-1 Trading Plan

June 11, 2008 4:55 PM EDT

On June 5, 2008, the Compensation Committee of the board of directors of Chesapeake Energy Corporation (NYSE: CHK) approved the immediate vesting, for the Company's senior executives who are currently over 55 years of age, of the unvested shares of restricted stock previously awarded to the senior executives under the Chesapeake Energy Corporation 2003 Stock Incentive Plan. Specifically, the Compensation Committee accelerated the vesting of 134,125 shares for Marcus C. Rowland, 101,500 shares for J. Mark Lester and 73,250 shares for Martha A. Burger.

On June 11, 2008, Steven C. Dixon, Executive Vice President – Operations and Chief Operating Officer of Chesapeake entered into a sales trading plan pursuant to Rule 10b5-1 of the Securities and Exchange Act of 1934. The plan expires on June 11, 2009 and has been approved by Chesapeake in accordance with its Insider Trading Policy.

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