ProPetro Holding Corp. Files Definitive Proxy Statement

Ticker: PUMP · Form: DEF 14A · Filed: Mar 21, 2024 · CIK: 1680247

Propetro Holding CORP. DEF 14A Filing Summary
FieldDetail
CompanyPropetro Holding CORP. (PUMP)
Form TypeDEF 14A
Filed DateMar 21, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$1.63 billion, $86 million, $2 million, $375 million, $1.63 Billion
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, ProPetro Holding Corp., Oil and Gas Services, Permian Basin

TL;DR

<b>ProPetro Holding Corp. has filed its definitive proxy statement detailing its business operations, strategic initiatives, and corporate governance for the upcoming reporting period.</b>

AI Summary

ProPetro Holding Corp. (PUMP) filed a Proxy Statement (DEF 14A) with the SEC on March 21, 2024. ProPetro Holding Corp. filed a Definitive Proxy Statement (DEF 14A) on March 21, 2024. The filing covers the period ending April 23, 2024. The company is based in Midland, Texas, and provides completion services to oil and gas E&P companies. Founded in 2005, ProPetro focuses on the Permian Basin with a premium hydraulic fracturing platform. Key initiatives highlighted include bolt-on acquisitions, deployment of electric fleets, and Tier IV Dynamic Gas Blending fleets.

Why It Matters

For investors and stakeholders tracking ProPetro Holding Corp., this filing contains several important signals. This filing provides shareholders with crucial information regarding the company's performance, strategic direction, and executive compensation ahead of shareholder votes. The DEF 14A outlines ProPetro's operational highlights, including fleet deployments and sustainability efforts, offering insight into its market position and future growth strategies.

Risk Assessment

Risk Level: low — ProPetro Holding Corp. shows low risk based on this filing. The filing is a routine proxy statement, indicating no immediate material changes or urgent risks are being disclosed beyond standard business operations.

Analyst Insight

Shareholders should review the proxy statement to understand executive compensation, board nominations, and any proposed corporate actions before the annual meeting.

Key Numbers

Key Players & Entities

FAQ

When did ProPetro Holding Corp. file this DEF 14A?

ProPetro Holding Corp. filed this Proxy Statement (DEF 14A) with the SEC on March 21, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by ProPetro Holding Corp. (PUMP).

Where can I read the original DEF 14A filing from ProPetro Holding Corp.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ProPetro Holding Corp..

What are the key takeaways from ProPetro Holding Corp.'s DEF 14A?

ProPetro Holding Corp. filed this DEF 14A on March 21, 2024. Key takeaways: ProPetro Holding Corp. filed a Definitive Proxy Statement (DEF 14A) on March 21, 2024.. The filing covers the period ending April 23, 2024.. The company is based in Midland, Texas, and provides completion services to oil and gas E&P companies..

Is ProPetro Holding Corp. a risky investment based on this filing?

Based on this DEF 14A, ProPetro Holding Corp. presents a relatively low-risk profile. The filing is a routine proxy statement, indicating no immediate material changes or urgent risks are being disclosed beyond standard business operations.

What should investors do after reading ProPetro Holding Corp.'s DEF 14A?

Shareholders should review the proxy statement to understand executive compensation, board nominations, and any proposed corporate actions before the annual meeting. The overall sentiment from this filing is neutral.

Risk Factors

Key Dates

Glossary

DEF 14A
Definitive Proxy Statement filed with the SEC. (Provides detailed information to shareholders about company matters.)
E&P
Exploration and Production companies in the oil and gas sector. (Identifies ProPetro's primary customer base.)
Permian Basin
A major oil-producing region in the United States, primarily in West Texas and southeastern New Mexico. (Highlights ProPetro's core operational geography.)
Hydraulic Fracturing
A technique used to extract oil and natural gas from dense rock formations. (Describes ProPetro's main service offering.)

Filing Stats: 4,441 words · 18 min read · ~15 pages · Grade level 13.9 · Accepted 2024-03-21 16:15:41

Key Financial Figures

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 27 Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation 28 Compensation Discussion and Analysis 45 Report of the Compensation Committee 46

Executive Compensation Tables

Executive Compensation Tables 46 Summary Compensation Table 48 Grants of Plan-Based Awards Table 49 Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table 49 Outstanding Equity Awards at Fiscal Year End 50 2022 Options Exercises and Stock Vested 50 Pension Benefits 50 Nonqualified Deferred Compensation 51 Potential Payments Upon Termination or Change in Control 56 Pay Versus Performance 60 CEO Pay Ratio 60 Equity Compensation Plan Information 61 AUDIT MATTERS 61 Proposal 3 Ratification of Appointment of Independent Registered Public Accounting Firm 63 Auditor Fees for Fiscal Years 2023 and 2022 63 Policy on Audit Committee Pre-Approval of Audit and Non-Audit Services of Independent Registered Public Accounting Firm 63 Report of the Audit Committee 65 STOCK OWNERSHIP INFORMATION 65

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 67 ADDITIONAL INFORMATION 67 Information about the Annual Meeting and Voting 72 Information about Stockholder Proposals 72 Annual Report on Form 10-K 73 Other Matters TABLE OF CONTENTS Proxy Statement Summary The following section is only a summary of key elements of this proxy statement, and is intended to assist you in reviewing this proxy statement in advance of the 2024 annual meeting. This summary does not contain all of the information you should consider, and you are encouraged to read this entire proxy statement before submitting your votes. 2024 Annual Meeting When Where Record Date April 23, 2024 10:00 a.m. Central Time 2518 FM 307 Midland, Texas 79706 February 26, 2024 Voting Agenda Board Recommendation For More Information, See Page 1 Election of nine director nominees to serve for a one-year term FOR each nominee 6 2 Approval, on an advisory basis, of the compensation of our named executive officers (Say-on-Pay) FOR 27 3 Ratification of the Audit Committee's selection of RSM US LLP as our independent auditors for 2024 FOR 61 4 Transaction of such other business as may properly come before the meeting or any adjournment thereof Director Nominees The Board of Directors (the "Board") has nominated the nine director nominees shown below for a one-year term. Committee Memberships Nominees Independent Age Director Since Audit Compensation Nominating & Corporate Governance Spencer D. Armour III 70 2013 * Mark S. Berg 65 2019 Anthony J. Best 74 2018 Phillip A. Gobe 71 2019 G. Larry Lawrence 72 2020 * PROPETRO 2024 Proxy Statement | 1 TABLE OF CONTENTS Proxy Statement Summary Committee Memberships Nominees Independent Age Director Since Audit Compensation Nominating & Corporate Governance Jack B. Moore 70 2017 * Samuel D. Sledge 37 2

View Full Filing

View this DEF 14A filing on SEC EDGAR

View on Read The Filing