RPC Inc. Files Definitive Proxy Statement for 2024 Annual Meeting

Ticker: RES · Form: DEF 14A · Filed: Mar 14, 2024 · CIK: 742278

Rpc Inc DEF 14A Filing Summary
FieldDetail
CompanyRpc Inc (RES)
Form TypeDEF 14A
Filed DateMar 14, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$1.62 b, $0, $1.01, $395 million, $223 million
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Executive Compensation, Corporate Governance, RPC Inc.

TL;DR

<b>RPC Inc. has filed its Definitive Proxy Statement for the upcoming annual meeting, detailing executive compensation and corporate governance.</b>

AI Summary

RPC INC (RES) filed a Proxy Statement (DEF 14A) with the SEC on March 14, 2024. RPC Inc. filed a Definitive Proxy Statement (DEF 14A) on March 14, 2024. The filing covers the period ending April 23, 2024. The company's fiscal year ends on December 31. RPC Inc. is listed under SIC code 1389 for Oil, Gas Field Services. The filing includes executive compensation data for the fiscal years 2020-2023.

Why It Matters

For investors and stakeholders tracking RPC INC, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation packages and proposals to be voted on at the annual meeting, enabling informed decision-making. The DEF 14A filing is a standard requirement for public companies, ensuring transparency in corporate governance and executive remuneration practices.

Risk Assessment

Risk Level: low — RPC INC shows low risk based on this filing. The filing is a routine DEF 14A, containing standard disclosures about executive compensation and meeting proposals, with no immediate financial or operational red flags.

Analyst Insight

Review the executive compensation details and any shareholder proposals to understand management's remuneration and potential changes in corporate strategy.

Key Numbers

  • 20240314 — Filing Date (20240314)
  • 20240423 — Period of Report (20240423)
  • 1231 — Fiscal Year End (1231)
  • 2023 — Latest Fiscal Year for Compensation Data (2023-01-01 2023-12-31)
  • 2022 — Prior Fiscal Year for Compensation Data (2022-01-01 2022-12-31)

Key Players & Entities

  • RPC INC (company) — FILER
  • 0000742278 (company) — CENTRAL INDEX KEY
  • 1389 (company) — STANDARD INDUSTRIAL CLASSIFICATION
  • 20240314 (date) — FILED AS OF DATE
  • 20240423 (date) — CONFORMED PERIOD OF REPORT
  • 2801 BUFORD HIGHWAY NE, SUITE 300 (address) — BUSINESS ADDRESS
  • ATLANTA (location) — BUSINESS ADDRESS CITY
  • GA (location) — BUSINESS ADDRESS STATE

FAQ

When did RPC INC file this DEF 14A?

RPC INC filed this Proxy Statement (DEF 14A) with the SEC on March 14, 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 RPC INC (RES).

Where can I read the original DEF 14A filing from RPC INC?

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 RPC INC.

What are the key takeaways from RPC INC's DEF 14A?

RPC INC filed this DEF 14A on March 14, 2024. Key takeaways: RPC Inc. filed a Definitive Proxy Statement (DEF 14A) on March 14, 2024.. The filing covers the period ending April 23, 2024.. The company's fiscal year ends on December 31..

Is RPC INC a risky investment based on this filing?

Based on this DEF 14A, RPC INC presents a relatively low-risk profile. The filing is a routine DEF 14A, containing standard disclosures about executive compensation and meeting proposals, with no immediate financial or operational red flags.

What should investors do after reading RPC INC's DEF 14A?

Review the executive compensation details and any shareholder proposals to understand management's remuneration and potential changes in corporate strategy. The overall sentiment from this filing is neutral.

How does RPC INC compare to its industry peers?

RPC Inc. operates in the Oil, Gas Field Services sector, providing services to the oil and gas industry.

Are there regulatory concerns for RPC INC?

As a public company, RPC Inc. is subject to SEC regulations, including the requirement to file Definitive Proxy Statements (DEF 14A) for annual meetings.

Industry Context

RPC Inc. operates in the Oil, Gas Field Services sector, providing services to the oil and gas industry.

Regulatory Implications

As a public company, RPC Inc. is subject to SEC regulations, including the requirement to file Definitive Proxy Statements (DEF 14A) for annual meetings.

What Investors Should Do

  1. Analyze the executive compensation table for named executive officers (NEOs) for fiscal years 2022 and 2023.
  2. Review the proposals being submitted for shareholder vote at the upcoming annual meeting.
  3. Examine any disclosures related to director nominations and corporate governance practices.

Key Dates

  • 2024-03-14: Filing Date — Definitive Proxy Statement filed
  • 2024-04-23: Period of Report End Date — Defines the reporting period for the proxy statement

Year-Over-Year Comparison

This is the initial filing of the DEF 14A for the 2024 annual meeting, providing updated information compared to previous filings.

Filing Stats: 4,585 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2024-03-14 11:04:22

Key Financial Figures

  • $1.62 b — ronment. While revenues increased 1% to $1.62 billion, and diluted earnings per share w
  • $0 — ion, and diluted earnings per share was $0.90, versus $1.01 in 2022, we generated
  • $1.01 — ed earnings per share was $0.90, versus $1.01 in 2022, we generated approximately $39
  • $395 million — .01 in 2022, we generated approximately $395 million of cash from operating activities, near
  • $223 million — mount. With a year-end cash position of $223 million and no debt, we are confident in our ab
  • $35 million — to shareholders. In 2023 we paid nearly $35 million in dividends and bought back nearly $19
  • $19 million — ion in dividends and bought back nearly $19 million of stock under our buyback program, bui
  • $0.10 — 5,403 shares of Common Stock, par value $0.10 per share. Holders of Common Stock are

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 50 BENEFIT PLANS 54 PAY RATIO DISCLOSURE 57 PAY VERSUS PERFORMANCE 58 SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE 62 STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 63 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 65 STOCKHOLDER PROPOSALS 66 EXPENSES OF SOLICITATION 67 ANNUAL REPORT 67 FORM 10-K 67 OTHER MATTERS 68 CAUTION CONCERNING FORWARD-LOOKING STATEMENTS 69 APPENDIX A: 2024 STOCK INCENTIVE PLAN A- 1 Table of Contents MESSAGE FROM OUR CHIEF EXECUTIVE OFFICER To our Stockholders, On behalf of the Board of Directors, we are pleased to announce that we will hold our 2024 Annual Meeting of Stockholders on Tuesday, April 23rd, 2024 at 12:15 P.M. 2023 was a year of several positive developments and milestones for RPC, marked by strong financial performance as we navigated a dynamic industry environment. While revenues increased 1% to $1.62 billion, and diluted earnings per share was $0.90, versus $1.01 in 2022, we generated approximately $395 million of cash from operating activities, nearly doubling the prior year amount. With a year-end cash position of $223 million and no debt, we are confident in our ability to invest in the business and continue returning capital to shareholders. In 2023 we paid nearly $35 million in dividends and bought back nearly $19 million of stock under our buyback program, building on our strong capital return track record. We upgraded our asset base with new equipment this past year, as well as acquired the Spinnaker cementing business. Spinnaker is a high-quality industry leader, and this acquisition expanded our service lines and broadened our customer base. The acquisition has gone well, and we are proud of the organization's success acquiring and integrating this outstanding business into the RPC family. We enter 2024 with a healthy balance sheet, an appetite to continue prudently expanding the business, and optimism f

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