TETRA Technologies 2023 Executive Compensation Details

Ticker: TTI · Form: DEF 14A · Filed: Apr 8, 2024 · CIK: 844965

Tetra Technologies Inc DEF 14A Filing Summary
FieldDetail
CompanyTetra Technologies Inc (TTI)
Form TypeDEF 14A
Filed DateApr 8, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$25.8 m, $626 m, $106.8 m, $0.01
Sentimentneutral

Sentiment: neutral

Topics: executive-compensation, proxy-statement, stock-awards

Related Tickers: TTE

TL;DR

TTE's 2023 DEF 14A is out, detailing exec pay, stock awards, and fair value adjustments.

AI Summary

TETRA Technologies, Inc. (TTE) filed its DEF 14A on April 8, 2024, for the fiscal year ending December 31, 2023. The filing details executive compensation, including stock awards and related deductions, for both PEO and Non-PEO members. It also outlines adjustments to deductions based on the fair value of awards granted and outstanding as of year-end.

Why It Matters

This filing provides transparency into how TETRA Technologies compensates its top executives, which can influence investor perception and corporate governance.

Risk Assessment

Risk Level: low — This is a routine annual filing detailing executive compensation and does not present new or unusual risks.

Key Players & Entities

  • TETRA TECHNOLOGIES INC (company) — Filer
  • 0000844965 (company) — Central Index Key
  • 2023-12-31 (date) — Fiscal Year End
  • 20240408 (date) — Filing Date

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Proxy Statement, is used to solicit shareholder votes on important corporate matters, including the election of directors and executive compensation.

What period does this DEF 14A filing cover?

This DEF 14A filing by TETRA Technologies, Inc. covers the fiscal year ending December 31, 2023.

What specific compensation-related details are highlighted in the filing?

The filing highlights details regarding stock awards, deductions for amounts reported under the stock awards column, and adjustments based on the fair value of awards granted during the year that remain unvested.

Who are the PEO and Non-PEO members mentioned in the context of compensation?

PEO (Principal Executive Officer) and Non-PEO members typically refer to the company's top executives, including the CEO and other senior management, whose compensation is detailed in the filing.

When was this DEF 14A filing submitted to the SEC?

This DEF 14A filing was submitted to the SEC on April 8, 2024.

Filing Stats: 4,457 words · 18 min read · ~15 pages · Grade level 13 · Accepted 2024-04-08 10:56:45

Key Financial Figures

  • $25.8 m — ics by: Increasing GAAP net income to $25.8 million, a 229% increase over 2022 Incr
  • $626 m — rease over 2022 Increasing revenue to $626 million, a 13% increase over 2022 and a 6
  • $106.8 m — er 2021 Improving adjusted EBITDA* to $106.8 million, a 37% increase over 2022 and a 1
  • $0.01 — f the Company's common stock, par value $0.01 per share (the "common stock") owned by

Filing Documents

Executive Compensation Highlights

Executive Compensation Highlights Below is a list of our 2023 Named Executive Officers, or "NEOs," and select 2023 compensation highlights. Our executive compensation program reflects a fundamental belief that compensation should be competitive with the broad market in which we compete for executive talent, and commensurate with the performance of the individual executives and the Company. For additional information on the 2023 compensation of our NEOs, please refer to the Compensation Discussion and Analysis ("CD&A"), beginning on page 43 . 2022 NEOs Brady M. Murphy President & Chief Executive Officer Elijio V. Serrano Sr. Vice President & Chief Financial Officer Matthew J. Sanderson Exec. Vice President & Chief Commercial Officer Timothy C. Moeller Sr. Vice President Roy E. McNiven Sr. Vice President 2023 NEOs Change in Annual Base Salary (2022 to 2023) Change in Target Annual Bonus (2022 to 2023) Percentage of 2023 Total Target Direct Compensation that is Variable or Performance-Based Brady M. Murphy 6.1% no change 83.6% Elijio V. Serrano 3.6% no change 76.7% Matthew J. Sanderson 2.3% no change 71.2% Timothy C. Moeller 3.6% no change 67.7% Roy E. McNiven 5.0% no change 68.6% Business Highlights Strong financial and operational performance in 2023 with improved earnings, cash flow, liquidity, and leverage metrics Industrial calcium chloride business performed at record levels Well-timed investments to expand our offshore capacity to meet the growing deepwater market demand Water and Flowback Services expanded the production side of the onshore business while introducing automation and new technologies Completed the engineering design for our first commercial produced water beneficial reuse project with a large oil & gas producer with a planned deployment later in 2024 Achieved several key milestones necessary to develop our brine leases in Arkansas for future lithium and bromine production Expanded into the stationary energy

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