Koil Energy Solutions Announces Executive and Director Changes
Ticker: KLNG · Form: 8-K · Filed: Jan 15, 2025 · CIK: 1110607
| Field | Detail |
|---|---|
| Company | Koil Energy Solutions, INC. (KLNG) |
| Form Type | 8-K |
| Filed Date | Jan 15, 2025 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, corporate-governance
TL;DR
Koil Energy Solutions reshuffled its board and execs, effective Jan 10, 2025. Expect strategic shifts.
AI Summary
Koil Energy Solutions, Inc. announced on January 10, 2025, changes in its board and executive team, including the departure of certain officers and directors, the election of new directors, and the appointment of new officers. The company also reported on compensatory arrangements for its officers. This filing is a current report under the Securities Exchange Act of 1934.
Why It Matters
Changes in leadership and executive compensation can signal shifts in company strategy, operational focus, or financial performance, impacting investor confidence and future business direction.
Risk Assessment
Risk Level: medium — Changes in executive and director positions can introduce uncertainty regarding future strategy and operational stability.
Key Players & Entities
- Koil Energy Solutions, Inc. (company) — Registrant
- January 10, 2025 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Deep Down, Inc. (company) — Former company name
- MediQuip Holdings, INC (company) — Former company name
- TRUE HEALTH INC (company) — Former company name
FAQ
What specific roles have been affected by the departures and appointments?
The filing indicates the departure of certain officers and directors, the election of new directors, and the appointment of certain officers, but does not specify the exact roles affected in this summary.
When were these changes effective?
The earliest event reported is dated January 10, 2025.
What is the primary purpose of this 8-K filing?
This 8-K filing serves as a Current Report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934, detailing the departure of directors/officers, election of directors, appointment of officers, and compensatory arrangements.
What is Koil Energy Solutions, Inc.'s state of incorporation?
Koil Energy Solutions, Inc. is incorporated in Nevada.
Has Koil Energy Solutions, Inc. operated under different names previously?
Yes, the company has formerly operated under the names Deep Down, Inc., MediQuip Holdings, INC, and TRUE HEALTH INC.
Filing Stats: 407 words · 2 min read · ~1 pages · Grade level 11.5 · Accepted 2025-01-15 17:15:08
Filing Documents
- koil_8k.htm (8-K) — 25KB
- koil_ex9901.htm (EX-99.1) — 4KB
- image_001.jpg (GRAPHIC) — 5KB
- 0001683168-25-000387.txt ( ) — 200KB
- klng-20250110.xsd (EX-101.SCH) — 3KB
- klng-20250110_lab.xml (EX-101.LAB) — 33KB
- klng-20250110_pre.xml (EX-101.PRE) — 22KB
- koil_8k_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election
ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 10, 2025, Trevor Ashurst resigned as Vice President of Finance and Administration (principal financial officer) of Koil Energy Solutions, Inc. (the "Company"), effective as of February 1, 2025. The resignation of Mr. Ashurst did not involve any disagreement with the Company. SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
01. Financial Statements and Exhibits
ITEM 9.01. Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release of Koil Energy, Inc. dated January 15, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 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 thereunto duly authorized. KOIL ENERGY SOLUTIONS, INC. By: /s/ Erik Wiik Erik Wiik President and Chief Executive Officer Date: January 15, 2025 3