ProFrac Holding Corp. Elects New Directors, Adjusts Compensation
Ticker: ACDC · Form: 8-K · Filed: Oct 1, 2024 · CIK: 1881487
| Field | Detail |
|---|---|
| Company | Profrac Holding CORP. (ACDC) |
| Form Type | 8-K |
| Filed Date | Oct 1, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $325,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
ProFrac adds 2 directors, updates exec pay. Board shakeup incoming.
AI Summary
ProFrac Holding Corp. announced on September 25, 2024, a change in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Michael L. McGahan and David M. Schorlemer, to its Board of Directors. Additionally, the filing details compensatory arrangements for certain officers, though specific dollar amounts for these arrangements are not provided in this excerpt.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may impact future performance and strategy.
Key Players & Entities
- ProFrac Holding Corp. (company) — Registrant
- Michael L. McGahan (person) — Newly Elected Director
- David M. Schorlemer (person) — Newly Elected Director
- September 25, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors to ProFrac Holding Corp.'s Board?
Michael L. McGahan and David M. Schorlemer were elected as new directors.
What is the reporting date for this 8-K filing?
The date of the earliest event reported is September 25, 2024.
What specific items are covered in this 8-K filing?
This filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is ProFrac Holding Corp.'s state of incorporation?
ProFrac Holding Corp. is incorporated in Delaware.
What is the business address of ProFrac Holding Corp.?
The business address is 333 Shops Boulevard, Suite 301, Willow Park, Texas 76087.
Filing Stats: 851 words · 3 min read · ~3 pages · Grade level 11.2 · Accepted 2024-10-01 16:01:53
Key Financial Figures
- $0.01 — stered Class A common stock, par value $0.01 per share ACDC The Nasdaq Global Se
- $325,000 — eof. Mr. Henry's current base salary is $325,000 per annum. Mr. Henry is eligible to con
Filing Documents
- d861157d8k.htm (8-K) — 28KB
- d861157dex101.htm (EX-10.1) — 4KB
- d861157dex102.htm (EX-10.2) — 71KB
- 0001193125-24-230134.txt ( ) — 246KB
- acdc-20240925.xsd (EX-101.SCH) — 3KB
- acdc-20240925_lab.xml (EX-101.LAB) — 18KB
- acdc-20240925_pre.xml (EX-101.PRE) — 11KB
- d861157d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d)Exhibits Exhibit No. Description 10.1 First Amendment to Employment Agreement, effective as of September 25, 2024, between ProFrac Holdings II, LLC and Michael Henry. 10.2 Indemnification Agreement (Michael Henry). 104.1 Cover Page Interactive Data File (Embedded within Inline XBRL document).
SIGNATURES
SIGNATURES 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. PROFRAC HOLDING CORP. By: /s/ Steven Scrogham Name: Steven Scrogham Title: Chief Legal Officer, Chief Compliance Officer and Corporate Secretary Date: October 1, 2024