Drilling Tools International Names New CFO
Ticker: DTI · Form: 8-K · Filed: Mar 12, 2024 · CIK: 1884516
| Field | Detail |
|---|---|
| Company | Drilling Tools International Corp (DTI) |
| Form Type | 8-K |
| Filed Date | Mar 12, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $600,000, $392,000, $320,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, leadership-change
TL;DR
DTI names McGahan as new CFO, effective today.
AI Summary
Drilling Tools International Corp. announced on March 11, 2024, the appointment of Michael J. McGahan as Chief Financial Officer, effective March 11, 2024. McGahan previously served as the Interim CFO and brings extensive experience in financial leadership roles. The company also reported on compensatory arrangements for its officers.
Why It Matters
The appointment of a permanent CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and does not indicate any significant financial distress or operational changes.
Key Players & Entities
- Drilling Tools International Corp. (company) — Registrant
- Michael J. McGahan (person) — Appointed Chief Financial Officer
- March 11, 2024 (date) — Effective date of appointment
- ROC Energy Acquisition Corp. (company) — Former company name
FAQ
Who has been appointed as the new Chief Financial Officer of Drilling Tools International Corp.?
Michael J. McGahan has been appointed as the new Chief Financial Officer.
When is the appointment of Michael J. McGahan effective?
The appointment is effective as of March 11, 2024.
What was Michael J. McGahan's previous role at Drilling Tools International Corp.?
Michael J. McGahan previously served as the Interim Chief Financial Officer.
What is the principal executive office address for Drilling Tools International Corp.?
The principal executive offices are located at 3701 Briarpark Drive, Suite 150, Houston, Texas 77042.
What was the former name of Drilling Tools International Corp.?
The former name of Drilling Tools International Corp. was ROC Energy Acquisition Corp.
Filing Stats: 898 words · 4 min read · ~3 pages · Grade level 11.5 · Accepted 2024-03-11 18:36:03
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share DTI The Nasdaq Stock Mark
- $600,000 — be increased to an amount not less than $600,000.00, (b) an annual target bonus of 100%
- $392,000 — be increased to an amount not less than $392,000.00, (b) an annual target bonus of 100%
- $320,000 — be increased to an amount not less than $320,000.00, (b) an annual target bonus of 75% o
Filing Documents
- d810553d8k.htm (8-K) — 31KB
- d810553dex101.htm (EX-10.1) — 108KB
- d810553dex102.htm (EX-10.2) — 102KB
- d810553dex103.htm (EX-10.3) — 104KB
- 0001193125-24-065062.txt ( ) — 568KB
- dti-20240311.xsd (EX-101.SCH) — 3KB
- dti-20240311_lab.xml (EX-101.LAB) — 18KB
- dti-20240311_pre.xml (EX-101.PRE) — 11KB
- d810553d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Prejean Amended and Restated Employment Agreement, dated March 11, 2024. 10.2 Johnson Amended and Restated Employment Agreement, dated March 11, 2024. 10.3 Domino Amended and Restated Employment Agreement, dated March 11, 2024. 104 Cover Page Interactive Data File (embedded within the 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 thereunto duly authorized. DRILLING TOOLS INTERNATIONAL CORPORATION By: /s/ R. Wayne Prejean R. Wayne Prejean Chief Executive Officer Date: March 11, 2024