Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On April 1, 2023, each of Messrs. Nicholas D. Gerber and Andrew F Ngim tendered
his resignation as a Management Director of the United States Commodity Funds
LLC ("USCF"), which is the general partner of the United States Oil Fund, LP
(the "Registrant"). The resignation of each of Messrs. Gerber and Ngim was
effective upon the later of April 1, 2023 and the appointment of his successor.
While Mr. Ngim will no longer serve on the Board of Directors of USCF, he will
continue to serve as Chief Operating Officer of USCF and as a portfolio manager
of United States Copper Index Fund and United States Commodity Index Fund, in
addition to his other roles for USCF's affiliates. On April 1, 2023, each of Mr.
Stuart P. Crumbaugh and Ms. Kathryn D. Rooney was appointed as a Management
Director of USCF, effective immediately.
There are no arrangements or understandings between Mr. Crumbaugh and any other
person pursuant to which he was selected as a director of USCF.
Stuart P. Crumbaugh, 59, Management Director of USCF since April 2023 and Chief
Financial Officer, Secretary and Treasurer of USCF since May 2015. Also, Mr.
Crumbaugh is the Chief Financial Officer of The Marygold Companies, Inc.,
formerly Concierge Technologies, Inc. ("Marygold"), the parent of USCF
Investments, Inc. ("USCF Investments") (formerly Wainwright Holdings, Inc.)
since December 2017. He is also the Treasurer and a member of the Board of
Directors of Marygold & Co., a subsidiary of Marygold, since November 2019. In
addition, Mr. Crumbaugh has served as a director of USCF Investments, the parent
and sole member of USCF, since December 2016. Mr. Crumbaugh has been a principal
of USCF listed with the CFTC and NFA since July 1, 2015 and, as of January 2017,
he is a principal of USCF Advisers. USCF Advisers, an affiliate of USCF, is an
investment adviser registered under the Investment Advisers Act of 1940, and, as
of February 2017, is registered as a commodity pool operator, NFA member and
swap firm. Since June 2015, Mr. Crumbaugh has been the Treasurer and Secretary
of USCF Advisers. He has served as a Management Trustee, Chief Financial Officer
and Treasurer of (1) USCF ETF Trust since May 2015 and (2) USCF Mutual Funds
Trust since October 2016. Mr. Crumbaugh joined USCF as the Assistant Chief
Financial Officer on April 6, 2015. Prior to joining USCF, Mr. Crumbaugh was the
Vice President Finance and Chief Financial Officer of Sikka Software
Corporation, a software service healthcare company providing optimization
software and data solutions from April 2014 to April 6, 2015. Mr. Crumbaugh
served as a consultant providing technical accounting, IPO readiness and M&A
consulting services to various early stage companies with the Connor Group, a
technical accounting consulting firm, for the periods of January 2014 through
March 2014; October 2012 through November 2012; and January 2011 through
February 2011. From December 2012 through December 2013, Mr. Crumbaugh was Vice
President, Corporate Controller and Treasurer of Auction.com, LLC, a residential
and commercial real estate online auction company. From March 2011 through
September 2012, Mr. Crumbaugh was Chief Financial Officer of IP Infusion Inc., a
technology company providing network routing and switching software enabling
software-defined networking solutions for major mobile carriers and network
infrastructure providers. Mr. Crumbaugh earned a B.A. in Accounting and Business
Administration from Michigan State University in 1987 and is a Certified Public
Accountant - Michigan (inactive).
There are no arrangements or understandings between Ms. Rooney and any other
person pursuant to which she was selected as a director of USCF.
Kathryn D. Rooney, 50, Management Director of USCF since April 2023 and Chief
Marketing Officer of USCF since January 2016. Since January 2017, she also has
served as a member of the Board of Directors of The Marygold Companies, which is
the parent of USCF Investments, Inc. USCF Investments, Inc. is the sole member
of USCF. Previously, Ms. Rooney was the National Sales Director at USCF from
January 2007 to December 2015. Ms. Rooney was the Director of Business
Development at the Ameristock Corporation, a California-based registered
investment adviser, from September 2003 to January 2007. Prior to joining the
Ameristock Corporation, she was Regional Sales Director at Accessor Capital
Management, a registered investment adviser that was based in Seattle,
Washington, from October 2002 to August 2003, National Sales Director at ALPS
Mutual Fund Services, Inc., a boutique investment services company offering
outsourced back office operations and distribution services to mutual fund
managers, from June 1999 to October 2002, and Trust Officer at Fifth Third
Bancorp, an American bank holding company headquartered in Ohio, from June 1994
to May 1999. Additionally, Ms. Rooney has been registered as an associated
person of USCF since August 2015 and from December 2005 to April 2009.
Additionally, effective as of February 2017, she is an associated person of USCF
Advisers, LLC, an affiliate of USCF, which is an investment adviser registered
under the Investment Advisers Act of 1940, and, as of February 2017, is
registered as a commodity pool operator, NFA member and swap firm. Ms. Rooney
graduated from Wellesley College with a Bachelor of Arts in economics and
psychology in June 1994.
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