Liberty Energy Inc. Announces Executive Changes and Shareholder Vote
Ticker: LBRT · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1694028
| Field | Detail |
|---|---|
| Company | Liberty Energy Inc. (LBRT) |
| Form Type | 8-K |
| Filed Date | Apr 19, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-of-directors, shareholder-vote, corporate-governance
Related Tickers: LBRT
TL;DR
Liberty Energy (LBRT) filing: new execs, board changes, and a shareholder vote coming up.
AI Summary
Liberty Energy Inc. announced on April 16, 2024, several key executive changes and a shareholder vote. The company elected new directors, appointed new officers, and established new compensatory arrangements. Additionally, shareholders will vote on certain matters, and the company is filing financial statements and exhibits.
Why It Matters
Changes in executive leadership and board composition can signal shifts in company strategy and governance, while a shareholder vote indicates important decisions affecting stakeholders.
Risk Assessment
Risk Level: medium — Executive and board changes, along with shareholder votes, can introduce uncertainty and potential shifts in company direction.
Key Numbers
- 001-38081 — SEC File Number (Identifies the company's filings with the SEC.)
- 81-4891595 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Liberty Energy Inc. (company) — Registrant
- April 16, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-38081 (filing_id) — SEC File Number
- 950 17th Street, Suite 2400 Denver, Colorado 80202 (address) — Principal Executive Offices
- Liberty Oilfield Services Inc. (company) — Former Company Name
FAQ
What specific executive positions were affected by the appointments?
The filing indicates the appointment of certain officers, but does not specify the exact positions in the provided text.
What are the key matters to be voted on by the security holders?
The filing states that matters are submitted to a vote of security holders, but the specific details of these matters are not included in this excerpt.
When was Liberty Energy Inc. previously known as Liberty Oilfield Services Inc.?
The company's name changed from Liberty Oilfield Services Inc. on January 9, 2017.
What is the principal executive office address for Liberty Energy Inc.?
The principal executive offices are located at 950 17th Street, Suite 2400, Denver, Colorado 80202.
What is the fiscal year end for Liberty Energy Inc.?
The company's fiscal year ends on December 31.
Filing Stats: 1,376 words · 6 min read · ~5 pages · Grade level 12.5 · Accepted 2024-04-19 16:17:11
Key Financial Figures
- $0.01 — tered Class A Common Stock, par value $0.01 LBRT New York Stock Exchange Indicate
Filing Documents
- lbrt-20240416.htm (8-K) — 59KB
- 0001694028-24-000034.txt ( ) — 188KB
- lbrt-20240416.xsd (EX-101.SCH) — 2KB
- lbrt-20240416_lab.xml (EX-101.LAB) — 22KB
- lbrt-20240416_pre.xml (EX-101.PRE) — 13KB
- lbrt-20240416_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. The voting results for each proposal considered at the Annual Meeting are set forth below. The proposals are described in more detail in the Proxy Statement. Proposal 1: Election of three directors. The three individuals listed below were elected as Class II directors of the Company at the Annual Meeting to serve for a term of three years. Voting results for each director were as follows: Names For Withheld Broker Non-Votes Ken Babcock 71,992,538 76,423,070 5,397,822 Audrey Robertson 101,101,514 47,314,094 5,397,822 Christopher A. Wright 113,388,032 35,027,576 5,397,822 Pursuant to the Company's Corporate Governance Guidelines (the "Governance Guidelines"), a director nominee must tender a conditional offer of resignation subject to acceptance by the Company's Board of Directors (the "Board") in the event the director receives more "withheld" votes than votes "for" in an uncontested election. Mr. Babcock received more votes "withheld" than "for" his re-election and, accordingly, tendered his conditional offer of resignation (the "Resignation") to the Nominating and Governance Committee (the "Committee") following the Annual Meeting. The Committee considered whether to recommend that the Board accept Mr. Babcock's Resignation. Mr. Babcock has served as a director of the Company since 2018. The Committee believes that Mr. Babcock has contributed significantly to the meetings of the Board and to the oversight and governance of the Company during his tenure. In addition, the Committee and the Board value Mr. Babcock's institutional knowledge, industry expertise, senior management experience and familiarity with the Company and its business. Accordingly, after due deliberation, the Committee determined that Mr. Babcock's continued service on the Board is in the best interests of the Company and its stockholders and recommended that the Board not accept the Resignation. After discussion, the Board
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1 * Liberty Energy Inc. Amended and Resta ted Long Term Incentive Plan (attached as Annex A to the registrant's Definitive Proxy Statement on Schedule 14A (File No. 001-38081) filed with the Commission on March 7, 2024) 104 Cover Page Interactive Data File (formatted as Inline XBRL) * Such exhibit has heretofore been filed with the Commission as part of the filing indicated and is incorporated herein by reference. 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. Dated: April 19, 2024 LIBERTY ENERGY INC. By: /s/ R. Sean Elliott Name: R. Sean Elliott Title: Chief Legal Officer and Corporate Secretary