SandRidge’s Grubb Keeps Basketball Floor Seats After Termination

SandRidge Energy Inc. (SD)’s Matthew Grubb will be entitled to two floor seats and two “lower bowl tickets” for all Oklahoma City Thunder home basketball games this season, under his termination agreement with the energy company.

Grubb, who steps down today as president and chief operating officer, will also get two years’ salary plus his annual bonus from 2012, according to a filing the Oklahoma City- based company made today.

Grubb’s termination was announced Wednesday as the company reached a settlement agreement with activist shareholder TPG- Axon Capital Management LP. The hedge fund has also called for the firing of SandRidge Chairman and Chief Executive Officer Tom Ward, who owns a stake in the Thunder, a National Basketball Association team.

To contact the reporter on this story: Mike Lee in Dallas at mlee326@bloomberg.net

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net

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