Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 18, 2022, Yoav Lurie was appointed as a member of the board of
directors (the "Board") of Beard Energy Transition Acquisition Corp. (the
"Company"), effective immediately. The Board has determined that Yoav Lurie is
an "independent director" as defined in the New York Stock Exchange ("NYSE")
listing standards and applicable U.S. Securities and Exchange Commission ("SEC")
rules and regulations.
Under the NYSE listing standards and applicable SEC rules, the Company had 90
days from the effective date of the registration statement for its initial
public offering to have the audit committee of the Board (the "Audit Committee")
be comprised of more than one independent member. Robert C. Reeves will continue
to serve on the Audit Committee.
Yoav Lurie, age 38, has served as a member of the board of directors of WattBuy,
a platform to help homeowners and renters decide which retail energy provider
can supply them the cheapest, cleanest electricity, since 2020. From July 2019
to December 2019, Mr. Lurie served as President of Uplight, a company which
provides software and services to more than 85 of North America's leading
electric and gas utilities serving 110 million homes and businesses, with the
mission of motivating and enabling energy users and providers to accelerate the
clean energy ecosystem. From 2010 to 2019, Mr. Lurie served as CEO and Founder
of Simple Energy, a leading provider of marketplaces, instant rebates, and
customer engagement software for electric and gas utilities. Prior to that, Mr.
Lurie served as Director and Practice Manager of Syneractive, Inc., a managing
director for Teach for America. Mr. Lurie received his BA in Public Policy from
Duke University. Mr. Lurie is well-qualified to serve as director due to his
extensive experience in the utilities industry, including his substantial
experience in the private sector.
In connection with his appointment to the Board, Mr. Lurie joined that certain
letter agreement, dated November 23, 2021, among the Company, its officers and
directors and its sponsor (the "Letter Agreement") by entering into an Insider
Letter Acknowledgment and Agreement, a copy of which is attached hereto as
Exhibit 10.1. Please see the Company's Report on Form 8-K dated November 29,
2021 for information regarding the Letter Agreement. The Company also entered
into an Indemnification Agreement with Mr. Lurie, a copy of which is attached
hereto as Exhibit 10.2, which requires the Company to indemnify him to the
fullest extent permitted under Delaware law and to advance expenses incurred as
a result of any proceeding against them as to which he could be indemnified.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description of Exhibits
Insider Letter Acknowledgment and Agreement, dated February 18, 2022,
10.1 between the Company and Yoav Lurie.
Indemnification Agreement, dated February 18, 2022, between the
10.2 Company and Yoav Lurie.
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BEARD ENERGY TRANSITION ACQUISITION CORP. 
