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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center">Date of Report (Date of earliest event
reported): February 21, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1.5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center"><B>AMERICAN EAGLE ENERGY CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center"><B>Nevada</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">000-50906</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center"><B>20-0237026</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center"><B>(Commission File Number)</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2549 W. Main Street, Suite 202, Littleton,
Colorado 80120 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive offices)&#9;(Zip
Code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant&rsquo;s telephone number, including
area code) (303) 798-5235 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Not Applicable<BR>
______________________________________________<BR>
Former name or former address, if changed since last report</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: -1in"><B>Section 5 - Corporate Governance
and Management</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 5.02.</B></TD><TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">(d) On February 21, 2012, the Board of Directors of American
Eagle Energy Corporation (the &ldquo;Company&rdquo;) appointed Andrew Calerich to fill a vacancy on the Board of Directors. Mr.
Calerich will chair the Company&rsquo;s recently established Audit Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Mr. Calerich, 47, has more than 20 years of public company
upstream oil and gas experience in a variety of capacities. From July 2003 until its merger into Hess Bakken Investments I Corporation
(a wholly-owned subsidiary of Hess Corporation) in December 2010, Mr. Calerich held various positions, including president, chief
financial officer, and director of American Oil &amp; Gas Inc. Prior to the merger, American Oil &amp; Gas Inc. was a publicly
traded independent oil and gas exploration and production company that was engaged in the acquisition of oil and gas mineral leases
and the exploration and development of crude oil and natural gas reserves and production, most recently in the Williston Basin
of North Dakota and Montana. Mr. Calerich is currently on sabbatical from full-time employment and, since January 2011, has served
as an independent director for Earthstone Energy, Inc., a Delaware corporation, whose common stock is traded on the NYSE Amex tier.
Earthstone is primarily engaged in the exploration, development, and production of oil and natural gas properties, whose operating
activities are concentrated in the North Dakota and Montana portions of the Williston basin, the southern portions of Texas, onshore
portions of the Gulf Coast, and the Denver-Julesburg basin of Colorado. From August 2006 through September 2007, he served as a
Director with Falcon Oil &amp; Gas, Ltd. (TSXV).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Mr. Calerich holds an inactive Certified Public Accountant
license and earned B.S. degrees in both Accounting and Business Administration at Regis College, in Denver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">In connection with Mr. Calerich&rsquo;s appointment to the
Board of Directors, and, pursuant to a non-qualified stock option agreement, the Company granted to him an option to purchase up
to 200,000 shares of the Company&rsquo;s common stock at a price of $0.92 per share, which is the average closing price of the
Company&rsquo;s common stock as quoted on the OTC Markets Group, Inc. OTCQB tier for the five trading days prior to the date of
his appointment. Fifty percent of the options will vest on the first anniversary of the grant and the other 50% will vest on the
second anniversary. The foregoing description is qualified in its entirety by reference to the non-qualified stock option agreement,
which is attached hereto as Exhibit 10.1 and is herein incorporated by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">On February 21, 2012, the Company sold and issued to Mr.
Calerich 100,000 shares of its restricted common stock at a price of $1.10 per share, which represented 110% of its closing price
on Friday February 17, 2012, as reported by the OTC Markets Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">There is no arrangement or understanding between Mr. Calerich
and any other person pursuant to which Mr. Calerich was elected as a director of the Company. Aside for the foregoing, there are
no transactions in which Mr. Calerich has an interest requiring disclosure under Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">On February 21, 2012, the Company issued a press release
announcing the appointment of Mr. Calerich. A copy of the press release is attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>SECTION 9 &mdash; FINANCIAL STATEMENTS AND EXHIBITS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>Item 9.01.</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0; font-weight: bold; text-indent: 0">(d)</TD>
    <TD STYLE="width: 13%; padding: 0; font-weight: bold; text-indent: 0">Exhibits</TD>
    <TD STYLE="width: 1%; padding: 0; font-weight: bold; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 77%; padding: 0; font-weight: bold; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">Exhibit</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">10.1*</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Non-Qualified Stock Option Agreement, dated February 21, 2012, between American Eagle Energy Corporation and Andrew Calerich</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">99.1*</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Press Release dated February 21, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">* Filed herewith.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">Date: February 21, 2012&#9;</TD>
    <TD COLSPAN="2"><B>AMERICAN EAGLE ENERGY CORPORATION</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">Bradley M. Colby</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">President and Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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{"company-data": {"conformed-name": "AMERICAN EAGLE ENERGY Corp", "cik": "0001282613", "assigned-sic": "1000", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50906", "film-number": "12626462"}, "business-address": {"street1": "2120 WEST LITTLETON BLVD.,", "street2": "SUITE 300", "city": "LITTLETON,", "state": "CO", "zip": "80120", "phone": "(303) 385-1230"}, "mail-address": {"street1": "2120 WEST LITTLETON BLVD.,", "street2": "SUITE 300", "city": "LITTLETON,", "state": "CO", "zip": "80120"}, "former-company": [{"former-conformed-name": "Eternal Energy Corp.", "date-changed": "20051118"}, {"former-conformed-name": "GOLDEN HOPE RESOURCES CORP", "date-changed": "20040303"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event
reported): February 21, 2012
AMERICAN EAGLE ENERGY CORPORATION
(Exact name of registrant as specified in
its charter)
Nevada
000-50906
20-0237026
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
2549 W. Main Street, Suite 202, Littleton,
Colorado 80120
(Address of principal executive offices)	(Zip
Code)
(Registrant's telephone number, including
area code) (303) 798-5235
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
Section 5 - Corporate Governance
and Management
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
(d) On February 21, 2012, the Board of Directors of American
Eagle Energy Corporation (the "Company") appointed Andrew Calerich to fill a vacancy on the Board of Directors. Mr.
Calerich will chair the Company's recently established Audit Committee.
Mr. Calerich, 47, has more than 20 years of public company
upstream oil and gas experience in a variety of capacities. From July 2003 until its merger into Hess Bakken Investments I Corporation
(a wholly-owned subsidiary of Hess Corporation) in December 2010, Mr. Calerich held various positions, including president, chief
financial officer, and director of American Oil & Gas Inc. Prior to the merger, American Oil & Gas Inc. was a publicly
traded independent oil and gas exploration and production company that was engaged in the acquisition of oil and gas mineral leases
and the exploration and development of crude oil and natural gas reserves and production, most recently in the Williston Basin
of North Dakota and Montana. Mr. Calerich is currently on sabbatical from full-time employment and, since January 2011, has served
as an independent director for Earthstone Energy, Inc., a Delaware corporation, whose common stock is traded on the NYSE Amex tier.
Earthstone is primarily engaged in the exploration, development, and production of oil and natural gas properties, whose operating
activities are concentrated in the North Dakota and Montana portions of the Williston basin, the southern portions of Texas, onshore
portions of the Gulf Coast, and the Denver-Julesburg basin of Colorado. From August 2006 through September 2007, he served as a
Director with Falcon Oil & Gas, Ltd. (TSXV).
Mr. Calerich holds an inactive Certified Public Accountant
license and earned B.S. degrees in both Accounting and Business Administration at Regis College, in Denver.
In connection with Mr. Calerich's appointment to the
Board of Directors, and, pursuant to a non-qualified stock option agreement, the Company granted to him an option to purchase up
to 200,000 shares of the Company's common stock at a price of $0.92 per share, which is the average closing price of the
Company's common stock as quoted on the OTC Markets Group, Inc. OTCQB tier for the five trading days prior to the date of
his appointment. Fifty percent of the options will vest on the first anniversary of the grant and the other 50% will vest on the
second anniversary. The foregoing description is qualified in its entirety by reference to the non-qualified stock option agreement,
which is attached hereto as Exhibit 10.1 and is herein incorporated by reference.
On February 21, 2012, the Company sold and issued to Mr.
Calerich 100,000 shares of its restricted common stock at a price of $1.10 per share, which represented 110% of its closing price
on Friday February 17, 2012, as reported by the OTC Markets Group, Inc.
There is no arrangement or understanding between Mr. Calerich
and any other person pursuant to which Mr. Calerich was elected as a director of the Company. Aside for the foregoing, there are
no transactions in which Mr. Calerich has an interest requiring disclosure under Item 404(a) of Regulation S-K.
On February 21, 2012, the Company issued a press release
announcing the appointment of Mr. Calerich. A copy of the press release is attached hereto as Exhibit 99.1.
SECTION 9 — FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
Description of Exhibit
10.1*
Non-Qualified Stock Option Agreement, dated February 21, 2012, between American Eagle Energy Corporation and Andrew Calerich
99.1*
Press Release dated February 21, 2012
* Filed herewith.
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SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 21, 2012
AMERICAN EAGLE ENERGY CORPORATION
By:
Bradley M. Colby
President and Chief Executive Officer
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